Adani bags gas rights for 21 cities
With state-owned Bharat Petroleum and Torrent Gas emerged as big winners at the latest City Gas Distribution (CGD) bid, Gautam Adani’s group won the rights to retail CNG to automobiles and piped cooking gas to households and industries in 13 cities on it own and the remaining nine, including Allahabad, in a joint venture with state-owned Indian Oil (IOC).
Indian PSU giants to sign JV for largest refinery
The three heavy-weights of the Indian downstream sector - Indian Oil Corporation (IOC), Hindustan Petroleum Corp (HPCL) and Bharat Petroleum (BPCL) - will sign an JV to create the world’s largest refinery-cum petrochemicals complexwith a refining capacity of 60 MMTPA.
GSPC looks at financial restructuring post $1.2 billion ONGC deal
After selling its stake in KG gas block to ONGC for $1.2 billion, Gujarat State Petroleum Corp (GSPC) is mulling a big financial restructuring including trimming stake in some business like LNG and portfolio readjustment, its Managing Director JN Singh said.
Oil India eyes stake in Russia´s Vankor cluster oilfields
A consortium led by Oil India Ltd is eyeing stake in Russia´s Vankor cluster oilfields to consolidate its presence in Arctic region. OIL, IOC and BPCL is looking at buying a stake in Suzunskoye, Tagulskoye and Lodochnoye fields - collectively known as Vankor Culster, sources said.
Ministry not considering merger of 13 oil PSUs | Pradhan
Petroleum Ministry is not considering any proposal to merge 13 state-owned oil PSUs like ONGC, IOC and GAIL to create a behemoth, Oil Minister Dharmendra Pradhan said. ´Ministry is not considering any proposal (for merger).
Natural gas shortage hits pipeline projects
The government is set to issue show-cause notices to PSU energy companies IOC, BPCL, HPCL, GAIL (India) and GSPL, asking why the three inter-state pipeline projects they had bagged - two in 2010 and one in 2011- to build and operate the three gas pipelines with a combined length of 5,000-km under competitive bidding, with estimated investments of about Rs 20,000 crore, can´t be cancelled for lack of progress on the ground.