Page 25 - Natural Gas
ONGC adopts Energy Strategy 2040; targets doubling of oil, gas production
State-owned Oil and Natural Gas Corp (ONGC) has set a target to double oil and gas output from its domestic and overseas fields and expand its refining capacity three-fold alongside diversification into renewables in a new vision document for 2040, its Chairman Shashi Shanker said. ONGC Energy Strategy 2040 envisions the company as "A diversified energy company with a strong contribution from non E&P business; 3x revenues and about 5-6x market capitalisation," he said. The firm produced 24.23 million tonnes of crude oil in the 2018-19 fiscal year and 25.81 billion cubic metres (bcm) of natural gas from its domestic fields. Another 10.1 million tonnes of oil and 4.736 bcm of gas were produced from its overseas assets. It had a turnover of Rs 109,654 crore and a net profit of Rs 26,715 crore in the year ended March 31, 2019. As on August 16, it had a market capitalisation of Rs 164,458 crore. In the company's latest annual report, Shanker said the ONGC board recently approved the ...
 "ONGC adopts Energy Strategy 2040; targets doubling of oil, gas production")
Clean fuel race: CNG may turn out to be key to India's automobile future
CNG may turn out to be the key to India's automobile future and the dream of increasing the share of natural gas
 "Clean fuel race: CNG may turn out to be key to India's automobile future")
India is likely to set up gas trading hub by first quarter of 2020-21
The Narendra Modi government is looking into a plan to unbundle the gas transmission and marketing business of GAIL
 "India is likely to set up gas trading hub by first quarter of 2020-21")
Union Budget 2019: Discoms buying from gas units to now get subsidy
Of the 24,150 Mw of gas-based power generation capacity, 14,305 Mw has no supply of domestic gas
 "Union Budget 2019: Discoms buying from gas units to now get subsidy")
Natural gas price up 10%; ONGC posts 6.5% rise in gas production
Producers will be able to charge a maximum of $9.32 per mmBtu for difficult fields, posting an increase of about 22% from $7.67 a unit during October-March
 "Natural gas price up 10%; ONGC posts 6.5% rise in gas production")
Govt incentives for unviable areas to unlock ONGC, OIL natural gas output
In the absence of a viable gas price, ONGC and OIL will have to mothball $3 bn worth of projects
 "Govt incentives for unviable areas to unlock ONGC, OIL natural gas output")
Import of natural gas on the rise, up 13% in April -October period
Regasified LNG catered to 47 per cent of the country's consumption during this period
 "Import of natural gas on the rise, up 13% in April -October period")
Govt plans to increase share of natural gas to 15% in India's fuel basket
Mumbai and Delhi have each crossed the one million mark in piped natural gas connections
If ONGC, OIL fields tapped fully, total natural gas output to rise by a 3rd
ONGC, OIL haven't been able to develop the discoveries or bring them to production as the current gas price of USD 3.36 per million MMBtu
 "If ONGC, OIL fields tapped fully, total natural gas output to rise by a 3rd")
Gas expected to be world's second-largest energy source by 2030: IEA
Global gas demand would increase by 1.6 per cent a year to 2040 and would be 45 per cent higher by then than today
 "Gas expected to be world's second-largest energy source by 2030: IEA")
India to spend $2 bn to double natural gas production by 2022: DGH chief
India is wooing companies in Singapore this week to invest in its upstream oil and gas sector and also to help build its strategic petroleum reserves
 "India to spend $2 bn to double natural gas production by 2022: DGH chief")
Natural gas price may be hiked by 14% soon; CNG, electricity may get costly
As per the new gas pricing formula approved by the NDA-government in October 2014, gas prices are to be revised every six months
 "Natural gas price may be hiked by 14% soon; CNG, electricity may get costly")
Natural gas may play a major role in India-Cyprus bilateral trade
India expects to double share of natural gas in the country's energy mix to more than triple imports to 70 mt per year by 2022
Natural gas will no longer be allocated: Govt to private power producers
No fresh allocation of gas to be made
 "Natural gas will no longer be allocated: Govt to private power producers")
Govt plans to expand natural gas share to 15% by 2022, LNG imports to soar
Beyond LNG, India is looking to access untapped domestic gas reserves off its east coast
 "Govt plans to expand natural gas share to 15% by 2022, LNG imports to soar")
Oil PSUs IOC, HPCL, BPCL betting on natural gas as next big thing
State-owned oil companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - are planning to raise gas contributions to between 5 and 15 per cent of their incomes over the next few years
 "Oil PSUs IOC, HPCL, BPCL betting on natural gas as next big thing")
Include natural gas under GST to prevent adverse impact on producers: Ficci
A GST based taxation for the natural gas sector would help the domestic gas producers to contain costs
 "Include natural gas under GST to prevent adverse impact on producers: Ficci")
Natural gas production no longer profitable business: ONGC
As the govt-mandated gas price is significantly below the cost of production
 "Natural gas production no longer profitable business: ONGC")
Natural gas production no longer profitable business: ONGC
Said producing at the government-mandated gas price is significantly below the cost of production
 "Natural gas production no longer profitable business: ONGC")
Natural gas price likely to be hiked by 8%
Prior to the October cut, rates were reduced by 20% to $3.06 from April 1, 2016
 "Natural gas price likely to be hiked by 8%")