Page 12 - Natural Gas

EU ministers discuss joint gas purchases, electricity market reform

EU energy ministers held an informal meeting here to discuss solutions for high gas prices, preparing for the energy situation this winter, and a possible revision of the electricity market

Americans to pay the most in 25 years to stay warm during this winter

Prices for natural gas and distillate -- which includes heating oil -- are both seen rising nearly 30% this winter

Govt okays Rs 22,000 crore one-time grant for OMCs to battle losses

This will help them tide over continuing losses in providing domestic liquified petroleum gas

Black swan events in global markets upset India's long-term LNG story

With prices soaring and competition for the fuel rising, India's inability to negotiate term contracts with global suppliers puts Rs 2 trillion of investment at risk

Analysts expect fuel prices to go up if global prices rise further

Brent crude oil prices remained near three-week highs of $92.9 per barrel as of late Thursday

ONGC Videsh to invest $1 billion in offshore block held by Petrobras

Brazil's Petroleo Brasileiro SA (Petrobras) owns a 75 per cent stake in the block and the rest 25 per cent is held by OVL, it will raise its stake in the block

MCX Crude Oil can pullback to Rs 7,700; Natural Gas likely to test Rs 600

The pullback in MCX Crude Oil futures is aided by cut in oil production by OPEC+ members. The commodity crossed its 50-DMA for the first time since July 2022.

RIL bats for no caps on domestic gas price as govt panel seeks review

Any such move will delay investments in fuel production, company tells govt panel

Europe faces 'unprecedented risk' of gas shortage after Russian cuts: IEA

Europe faces unprecedented risks to its natural gas supplies this winter after Russia cut off most pipeline shipments and could wind up competing with Asia for already scarce and expensive liquid gas that comes by ship, the International Energy Agency said. The Paris-based IEA said in its quarterly gas report released Monday that European Union countries would need to reduce use by 13% over the winter in case of a complete Russian cutoff amid the war in Ukraine. Much of that cutback would have to come from consumer behavior such as turning down thermostats by 1 degree and adjusting boiler temperatures as well as industrial and utility conservation, the group said. The EU on Friday agreed to mandate a reduction in electricity consumption by at least 5% during peak price hours. Just a trickle of Russian gas is still arriving in pipelines through Ukraine to Slovakia and across the Black Sea through Turkey to Bulgaria. Two other routes, under the Baltic Sea to Germany and through Belaru

Natural gas price hike likely to push Centre's fertiliser subsidy bill

Industry insiders expect 10-15% increase in pooled gas prices in fertiliser sector

Natural gas prices hiked 40% to record levels; CNG, PNG to cost more

This includes difficult and newer fields operated by Reliance Industries and partner BP in the KG basin

Automakers decrease production of CNG vehicles as natural gas prices rise

CNG automakers have reduced their production targets to 500,000-550,000 vehicles for FY23. At the beginning of the current financial year, this target was 700,000-750,000

Total CEO pushes spending on renewable energy amid global energy crisis

The French oil major is increasing spending on renewable energy and on reducing its emissions next year to 33% of annual capital expenditure, compared with 25% going into clean power this year

Higher gas prices raise difficult questions for Reliance, Adani Group

The 153% jump in prices of natural gas this year has raised the stakes for the government of India to get its policy right in the sector

Govt holding bilateral talks over Gazprom-GAIL issue, won't seek penalty

The centre may neither pursue arbitration with Gazprom, the world's largest natural gas explorer, nor accept a penalty from the company after it halted supplies to GAIL in May

Asian countries spend big on fuel oil amid global gas shortage concerns

Japanese imports of the fuel, which can be used instead of natural gas to produce electricity, surged to a four-year high in August, and are set to stay high in the coming months

IGX answer to inflation: Trade gas on exchange to counter rising prices

Gas exchange's proposal also dovetails with plans by New Delhi to appoint a panel under Kirit Parikh to review India's gas pricing formulae

Crude oil output to go up substantially from next year: Petroleum Secy

Pankaj Jain's comments follows contracts signed by govt for 34 oil exploration blocks; minister Hardeep Singh Puri asserts energy crisis in Europe far worse than India

Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar

As global prices soar, another committee to review gas pricing policies may find the going more challenging

Weekly storage of natural gas in US rises, says energy information agency

The total working gas storage decreased by 7.6 per cent from this time in 2021, or down 11.5 per cent from the five-year average, Xinhua news agency reported