NDTV Profit Team | Friday January 1, 2016
Indian Oil Corporation has hiked prices of non-subsidised LPG cylinders, or the cooking gas a consumer buys on exhausting the subsidy quota. The hike came into effect from midnight of December 31, 2015 and January 1, 2016.
Press Trust of India | Friday October 2, 2015
To incentivise exploration and production from tough geologies and encourage participation in the future New Exploration Licensing Policy (NELP) rounds the government would need to provide clarity on the price premium to be paid for difficult fields, it added.
Thomson Reuters | Monday April 6, 2015
Oil futures climbed more than $1 per barrel on Monday, after Saudi Arabia raised its prices for crude sales to Asia for the second month running, signalling improved demand in the region.
Press Trust of India | Sunday February 15, 2015
Stung by a lower-than-expected hike in natural gas prices, Canada's Niko Resources has put up for sale its stake in Reliance Industries' KG-D6 gas block saying there is uncertainty over long-term price outlook in India.
Sunday December 7, 2014
The government may dip into Reliance Industries Ltds incremental gas price hike revenue, accruing in a pool account, to recover its dues in the wake of the contractor failing to meet certain KG-D6 output targets.
Friday November 7, 2014
The new gas price of $5.61 per unit will not be adequate to attract investment in exploration as most discoveries in deep sea need a higher rate to be economically viable, top research organisations have said.
Tuesday November 4, 2014
Niko Resources, which holds 10 per cent stake in the RIL-operated KG-D6 block, said partners will get increased rate of $5.61 per million British thermal unit for the gas they produce from MA field in the block, while old rate of $4.2 would continue to apply on D1&D3 fields pending resolution of a dispute regarding reasons for drastic fall in outpu...
Sunday November 2, 2014
The government has notified a 33 per cent hike in natural gas prices, which have led to a steep increase in CNG rates in states like Maharashtra and Gujarat.
Tuesday October 28, 2014
BP Plc has written down the value of its shareholding in eastern offshore KG-D6 block by $770 million following a lower-than-expected gas price hike which it saw as a transition to market-based pricing.
Tuesday October 28, 2014
Traders worry company might not pass higher gas prices on to consumers to keep it competitive versus diesel.
Sunday October 26, 2014
State-run Rashtriya Chemicals and Fertlizers plans a 2-3 per cent increase in prices next month to protect the margins, following the 33 per cent hike in natural gas price, according to a top company official.
Heena Gambhir | Tuesday October 21, 2014
Oil Minister Dharmendra Pradhan said in an interview to NDTV that the move to deregulate diesel prices is a "well thought decision" and the markets are appreciating it. He also said that as the world is seeing some stability in oil prices, it is the best time to make the most of this opportunity.
Monday October 20, 2014
With the government announcing increase in the price of domestically produced gas, state-run NTPC said the move will prove beneficial only if the power distribution companies buy the electricity produced from the plants consuming the costlier fuel.
Monday October 20, 2014
RIL will not get the benefit of the price rise for gas produced from its D1 and D3 gas fields.
Monday October 20, 2014
The Modi government on Saturday de-controlled diesel prices and also announced a hike in domestic gas prices. State-run refiners such as Indian Oil Corp, HPCL and BPCL as well as upstream companies such as ONGC, Oil India and GAIL jumped between 4-9 per cent on the announcements. HPCL hit its 52-week high, but Reliance Industries traded lower today...
Saturday October 18, 2014
Higher gas prices will attract investment but the quantum of rise is not going to hurt consumers, Mr Jaitley told a news conference after Prime Minister Narendra Modi's cabinet took a long-delayed decision on gas prices.
Thursday September 25, 2014
India said on Wednesday it would take a decision by November 15.
Wednesday September 24, 2014
Law Minister Ravi Shankar Prasad declined to give a reason for the delay but said "there is life beyond gas pricing".
Tuesday September 23, 2014
The government has a narrow window of one day to approve a new gas pricing mechanism to meet its own deadline of announcing a new rate.
Wednesday September 17, 2014
Traders added that stock has already priced in higher gas prices.
Thursday September 11, 2014
BP, whose $7.2 billion investment in 2011 is the largest foreign investment in the energy sector in India, has lined up projects that will reverse the sinking natural gas production from eastern offshore KG-D6 fields. The investment, however, is unviable at current $4.2 per mmBtu gas rate.
Tuesday September 9, 2014
A gas price of over $6.5 per million British thermal unit is a prerequisite for early monetization of discoveries made by Reliance Industries, according to Deutsche Bank.
Friday August 29, 2014
As the government debates on gas price hike and a new contract for oil and gas exploration, Vedanta Resource on Friday said domestic rates should be linked to international markets and that an independent regulator be set up.
Tuesday August 26, 2014
Reliance Industries, Oil and Natural Gas Corp (ONGC), BP and Cairn India on Monday unanimously demanded an immediate hike in natural gas prices, saying the current sub-market price of $4.2 was impeding development of over a dozen discoveries.
Sunday August 3, 2014
The Oil Ministry is looking at a price of $6-6.5 for all domestic natural gas but wants Reliance Industries to sell KG-D6 gas at old rate of $4.2 till it makes up for shortfall in supplies of past four years, according to sources.
Friday August 1, 2014
The ministry feels that some elements of the Rangarajan formula, which was notified by the previous UPA government in January but put on hold till September-end, have no relevance to pricing in India and should be removed, sources privy to the development said.
India News | Press Trust of India | Saturday July 26, 2014
Weeks after Britain's BP and its partner Reliance Industries slapped an arbitration notice for delay in gas price hike, UK's Energy Secretary Edward Davey on Thursday met Oil Minister Dharmendra Pradhan to discuss outstanding issues.
Sunday July 20, 2014
Cooking gas and kerosene prices will not be hiked keeping in view the impact of such a step on the people, Petroleum Minister Dharmendra Pradhan has said.
Wednesday July 9, 2014
Weeks after the new government deferred a decision on revising natural gas prices, the pre-budget Economic Survey has called for market-linked pricing to boost domestic oil and gas exploration, and production.
Monday July 7, 2014
Upstream oil and gas producers like ONGC and Oil India pay part of their profits to the government to finance subsidies to oil marketing companies, which sell Kerosene and LPG to the public at below market prices. Raising of LPG and kerosene prices will enable them to retain larger profits.