CNG prices may rise as Govt cuts domestic gas supply to city gas firms
CNG prices across India may increase as the government reduces the allotment of cheap domestic gas by about 20% to city gas distributors. Indraprastha gas Ltd and others face a significant impact on profitability and may need to source costly alternatives from the market, potentially raising consumer prices by Rs 4-6 per unit. Key Points
Economic TimesPreparations for Modi regime 3.0: To fire up PNG adoption, govt may hand out free connections
Petroleum ministry plans Prajwala scheme for free PNG connections and subsidies, inspired by Ujjwala scheme. Prepaid meters and gas pipeline grid crucial. Penalties for distributors missing targets. LPG costs in Delhi compared. Key Points
Economic TimesIGL, MGL, Gujarat Gas: Decline in Asian spot LNG price to aid earnings prospects
IGL, MGL, Gujarat Gas: The share prices of these gas distribution companies have remained volatile on mutiple concerns. The Decline in spot LNG prices however are expected to aid prospects. Apart from margin benefit, gas supplies will become competitive compared to other industrial fuels Key Points
mintAG&P Pratham, Think gas set for $1.1-billion merger
The combined entity will be valued at over $1.1 billion, acquiring the heft that will help it compete with rivals. It will be a stock-for-stock merger — a share of one company for each of the other. Currently, I-Squared holds 100% stake in Think gas Distribution and 73% in AG&P Pratham, the India arm of Singapore-based Atlantic Gulf & Pacific (AG&P) City Gas. Key Points
Economic TimesSeveral city gas companies like MGL, IGL and Adani gas cut CNG prices
City gas companies get cheaper domestic gas and a softer tax treatment from the government, and at the same time use their monopoly in their respective licensed areas to sell CNG at a price that ensures strong profit margins. Many of them have enjoyed extended monopolies, with regulatory attempts to end monopolies ending up in courts. Key Points
Economic Times
CNG prices reduced by ₹2.50 in Delhi-NCR. Check new rates
CNG prices in Delhi-NCR: The retail consumer price of CNG is being reduced by ₹2.50 per kg across all geographical areas of IGL. | Latest News Delhi Key Points
Hindustan TimesKalpataru Projects gets Letter of Intent from Saudi Aramco for three packages in Master gas System Network
The $10 billion MGS-3 project by Aramco aims to expand the gas processing capacity. Earlier, it was reported that Larsen & Toubro (L&T) and Kalpataru Power Transmission Ltd emerged as the lowest bidders for MGS-3 Project. Key Points
Business TodayAll's swell for Gautam Adani as cash pile improves, refinancing risks ebb for his group
The group’s Ebitda, or earnings before interest, tax, depreciation and amortization rose more than 60% to $2.3 billion in the third quarter ended December 31 with a bulk of that coming from the transport, infrastructure and energy units of the conglomerate. Key Points
Business TodayBest 4 burner gas stove: 10 ultimate options for family feasts
Best 4 burner gas stove provides flexibility and convenience, allowing you to multitask and prepare multiple dishes simultaneously. Buy from our curated list. Key Points
Hindustan TimesBest gas stove: Top 7 options suited for your kitchen needs
Gas stoves are vital to every Indian kitchen, and we have selected the best for you. Check out the top 7 gas stoves that you can buy. We have included different models and burners to suit your preference and culinary requirements. Key Points
mint
Why the Polar Vortex Is Bad for Balloon Artists
Leave a balloon out in the cold and it’ll shrink and look pathetic. Sorry, but that’s the law—the ideal gas law. Key Points
WIREDProtesting farmers eye indigenous methods to fend off drones, tear gas shells
Punjab farmers resume march toward capital. Dozens counter police tear gas strategy at Shambhu border with Haryana for second day. | Latest News India Key Points
Hindustan TimesONGC Q3 Preview: PAT may fall 13% YoY on weak crude and gas price realisations
Net profit for the third quarter is likely to fall around 13% year-on-year (YoY), according to an average estimate of four brokerages. On a sequential basis, profit is seen dropping by a marginal 1%. Key Points
Economic TimesONGC, GAIL explore possibility of setting up strategic gas reserves
The government has been considering the plan over the past few years. However, given the critical technical and infrastructure issues involved, the plans have so far not taken a concrete shape. Key Points
mintIndia's gas demand to rise 6% in 2024: IEA
India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power generation, refinery and industrial sectors. The natural gas demand had risen to 64 billion cubic meters in 2023. Key Points
Economic Times
Why the Polar Vortex Is Bad for Balloon Artists
Leave a balloon out in the cold and it’ll shrink and look pathetic. Sorry, but that’s the law—the ideal gas law. Key Points
WIREDONGC makes back-to-back gas discoveries in Mahanadi basin block
ONGC has made significant natural gas discoveries in the Mahanadi basin, yielding results in its high-risk deep water exploration. The discoveries were made in the MN-DWHP-2018/1 block, previously classified as a 'no-go' area due to national security interests. The first discovery, Uktal, flowed over 3 lakh cubic metres per day of gas during initial testing. Key Points
Economic TimesMassive winter storm across US poses frigid challenges for Iowa caucuses
Massive winter storm sweeps across eastern US, triggering power outages and record gas demand. It will add complexity to upcoming Iowa Caucuses. Key Points
Hindustan TimesMassive winter storm batters US, knocks out power of 8,11,000 homes and businesses in 12 states ahead of brutal freeze
New York and Pennsylvania hit hardest. A massive winter storm moving across the eastern half of the U.S. on Tuesday knocked out power to about 8,11,000 homes and Key Points
The Tribune IndiaChlorine gas leaks in Dehradun, locals evacuated after they face breathing issues
A Chlorine gas leak has been reported from Dehradun’s Jhajra area. Rescue teams have reached the spot to contain the situation. Key Points
India Today
Ammonia gas leaks from Chennai fertiliser unit, people experience unease; hospitalised
According to the Tamil Nadu Environment and Forest Department, a communication was received from the unit at 12.45 a.m. about the ammonia gas leakage that occurred during the pipeline's pre-cooling operation Key Points
FirstpostIs it a good time to invest in Indraprastha gas Limited? 3 reasons why analysts are bullish
The company is a key beneficiary of the growing preference for natural gas, as it is one of the cleanest energy sources available in India, which helps reduce carbon emissions. It is diversifying in new growth areas and exploring organic and inorganic growth. Know what analysts say about Indraprastha gas Limited Key Points
Economic Times2 with canisters jump from Lok Sabha visitors' gallery, yellow smoke, chaos
Two people carrying gas canisters caused panic in the Lok Sabha on Monday after they jumped into the House’s chamber and sprayed gas in the air. The incident was caught on camera. Key Points
India TodayWhy we don’t get enough piped gas for cooking
Currently, there are only around 10 million piped gas connections compared with over 290 million cylinder gas users. The government aims to take the number of piped bas connections to 125 million by 2030. Key Points
mintCNG prices may pinch as cheap gas quota is cut sharply for distributors
The government allocates price-controlled domestic gas, or APM gas, to city gas distributors for further sale to CNG drivers as well as to households for cooking. Supplies meant for cooking remain unaffected by the government decision but those for CNG have been cut, city gas executives said. Key Points
Economic Times
IOC corners more than a third of D6 gas in latest Reliance auction
State-owned Indian Oil Corporation (IOC) has cornered more than a third of natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the KG-D6 gas, sources said. IOC got 1.45 million standard cubic meters per day out of the 4 mmscmd of gas auctioned last week. Key Points
Economic TimesAdani Group launches green hydrogen blending pilot project in Ahmedabad
Ahmedabad (Gujarat) [India], November 28 (ANI): As world leaders come together in the UAE for the COP28 later this week, Adani Total gas has announced a ‘Green Hydrogen Production and Blending Pilot Project’. Adani Total Gas, a leading energy and city gas distribution company, is co-promoted by Adani Group and TotalEnergies. Show Full Article As […] Key Points
ThePrintCNG prices hiked by Re 1 in Delhi-NCR from today. Check new rates
In Delhi, the price of CNG has been revised from Rs 74.59 per kg to Rs 75.59 per kg. In Noida, the revised rate is Rs 81.20 per kg, and Greater Noida is 80.20 per kg. Key Points
India TodayPlans afoot to build strategic natural gas reserve
After oil minister Hardeep Singh Puri recently gave a green signal to the idea of setting up the gas reserve, the oil ministry directed Oil and Natural gas Corp (ONGC), Oil India and GAIL to jointly prepare a detailed feasibility report on the same, people said. The companies are expected to submit the report in three months. Key Points
Economic TimesSaudi announces new natural gas discoveries in Empty Quarter, Eastern Province
Aramco, overwhelmingly an oil producer, aims to boost its gas production by 50% by 2030 from 2021 levels. It said in late September that it agreed to acquire a strategic minority stake in liquefied natural gas (LNG) company MidOcean Energy for $500 million, with an option to increase the stake - part of its push into natural gas. Key Points
Economic Times
Contrarian Utility bets: 4 stocks from natural gas sector with upside potential of up to 20%
Recently, an announcement about pushing the electric vehicle (EV) more aggressively in Delhi, brought pressure on the stocks like IGL. While there is no doubt that over a period of time, EV will dominate, does it mean the end of the business of the gas companies? The answer is probably no, there are many other use cases and narrative about negative impact might be over stretched. Key Points
Economic TimesAmazon Sale: Score big on savings on gas stoves, up to 71% off
Amazon Sale 2023 is here and this is your chance to bring home a gas stove that offers great user experience at discounted price. Read on to know more. Key Points
Hindustan TimesIRM Energy makes weak debut on Dalal Street, lists at nearly 7% discount
IRM Energy listing: The stock began trading at Rs 477.25 on the National Stock Exchange (NSE) and Rs 479 on the Bombay Stock Exchange (BSE), representing a 5.5 per cent drop compared to its issue price of Rs 505. Key Points
India TodayNatural gas consumption rises 7 per cent in first half
Gas consumption rose 5% in 2019-20 before falling by a similar percentage point the subsequent year as the pandemic curtailed demand. It expanded 5% in 2021-22, boosted by the post-pandemic recovery but fell by a similar volume again in the succeeding year, weighed down by record high prices in the international markets. Key Points
Economic TimesUS natgas prices rise by 2% amid LNG feedgas export and cooler weather
US natural gas futures rose 2% due to increased gas flow to LNG export plants and forecasts of cooler weather. However, the weather is expected to remain milder than usual through early November, resulting in lower heating and cooling demand. Record gas output and lower demand are limiting price gains. gas futures for November delivery rose 1.7% to $3.130 per mmBtu. The lack of significant price movements has reduced historic 30-day futures volatility to its lowest level since April 2022. Key Points
Economic Times
IRM Energy IPO opens for subscription today. Should you bid?
IRM Energy IPO opens for subscription today and will close on Friday. The company, which is an emerging player in the city gas distribution segment has priced its IPO at Rs 480-505 per share. It looks to raise Rs 545 crore via the initial stake sale. The issue is completely a fresh equity sale of 1.08 crore shares. Key Points
Economic TimesAsia stocks hit 2-week high as Fed talk turns dovish
By Tom Westbrook SINGAPORE (Reuters) - Asia's stockmarkets rose on Wednesday and the dollar beat a retreat as a dovish shift in tone from Federal Reserve officials had traders paring U.S. interest Key Points
ThePrintIsrael shuts down major offshore gas field amid violence
In a separate statement, the energy ministry said that Prime Minister Benjamin Netanyahu's government has authorised Energy Minister Yisrael Katz to order a state of emergency for Israel's energy sector over the next two weeks, if deemed necessary. Such a move would allow the government to allocate natural gas to consumers should supply shortages emerge, it said. Key Points
Economic Timesgas price drop to make industrial users shun dirtier fossil fuels, says Indian gas Exchange head
Trading volumes on the Indian gas Exchange are set to rise due to a greater availability of cheaper supplies, Chief Executive Officer Rajesh Kumar Mediratta told Bloomberg Television in an interview. The bourse is looking to offer some longer-duration contracts to help buyers access gas at set prices, he said. Key Points
Economic TimesUjjwala LPG subsidy up at Rs 300/cylinder
A 14.2 kg cooking gas refill costs Rs 903 in Delhi. For Ujjwala customers, the effective price is Rs 702, which will now drop to Rs 602. There are about 31 crore cooking gas customers in the country, including 9.6 crore Ujjwala beneficiaries. Non-Ujjwala customers do not get subsidy. Key Points
Economic Times
MGL slashes prices of CNG in Mumbai; to cost Rs 76/ kg from Oct 2
Mumbai's Mahanagar gas Limited (MGL) has announced a reduction in the retail price of Compressed Natural gas (CNG) and Piped Natural gas (PNG) by Rs 3 per kilogram and Rs 2 per SCM respectively. The new rates, effective from October 2, will be Rs 76 per kg for CNG and Rs 47 per SCM for PNG. Key Points
Economic Times28 hospitalised after gas leakage at chemical factory in Gujarat
At least 28 people were hospitalised after they inhaled bromine gas in a chemical factory in Gujarat's Bharuch district. The leakage has been controlled. Key Points
India TodaySanjiv Bhasin on 4 largecaps to buy now; 3 new age stocks that may double in a year
New age stocks like Paytm, Zomato and PB FinTech, may have gone from 50 to 100 but they had fallen from 150 to 100. So, if you are looking for 200 in the next two years or the next year, these are the stocks to put your money where your mouth is.” Key Points
Economic TimesIndia's Adani Total gas reports 9% rise in Q1 profit on higher CNG sales
India's Adani Total gas (ADAG.NS) reported a nearly 9% rise in first-quarter profit on Tuesday, helped by higher sales of compressed natural gas (CNG). Key Points
ReutersPrices should keep coming down to help us provide more affordable PNG and CNG to customers: Adani Total Ga
Adani Total gas plans to invest between Rs 15,000-20,000 crore ($2-2.7bn) over the next seven to eight years to provide piped natural gas and CNG to 33 geographical areas. The company is encouraging industries and commercial consumers to convert to the cleaner fuel, said CEO Suresh Manglani. The CGD firm has 60% of its volume going to homes and transportation vehicles as CNG. Key Points
Economic Times
City gas companies snap up cheap local supply
The city gas sector accounted for just 9% of the country's consumption of imported gas during the April-June period, down from 17% a year earlier. Their consumption of domestic gas rose 31% in a year to 2,490 million metric standard cubic meter (mmscm) while their use of imported gas fell to 703 mmscm. Key Points
Economic TimesIndia's HPCL gets bids to lease part of Chhara LNG terminal
India's Hindustan Petroleum Corp Ltd (HPCL.NS) has received six or seven bids from industries to lease a part of its Chhara liquefied natural gas (LNG) import terminal on the west coast, the LNG unit's chief executive said on Monday. Key Points
ReutersRIL & BP commence production from third deepwater field in India’s KG D6 block
The start of gas and condensate production from the MJ field follows the start-up of the R-Cluster field in December 2020 and Satellite Cluster in April 2021. All three developments utilise the existing hub infrastructure for the block. Together, the three fields are expected to produce around 30 million standard cubic metres of gas a day at peak production levels. Key Points
Economic TimesONGC sells KG gas to Torrent, GAIL at $11/unit
NEW DELHI: State-owned ONGC has sold initial gas it is producing from its KG basin fields in the Bay of Bengal to three firms, including Torrent Gas, sources said. In an e-auction, the firm sold 1.4 million standard cubic meters per day - a fraction of the planned output from the block that sits nex Key Points
The Tribune India