The domestic natural gas price has risen by 25 cents to $6.75 per mmbtu for April, leading to increased costs for households with piped gas and CNG vehicle expenses. City gas distributors and fertiliser producers will also be affected. The price ceiling for difficult fields remains almost unchanged at $10.04 per mmbtu.
Tata Power to add thermal capacity, rethinks exiting coal segment
Tata Power plans to enhance thermal power capacity through acquisitions and expansions, reversing its shift from coal. Despite earlier commitments to clean energy, the move stems from muted returns on wind projects and the global rise of coal power. Tata Power, now retargets additional thermal assets for better energy security and profitable returns.
Trump's Russia oil tariff threat depends on China, India reaction: Russell
President Donald Trump has threatened to impose secondary tariffs on buyers of Russian crude oil, aiming for a ceasefire in Ukraine. Reactions from Russia, India, and China are critical, with significant implications for their energy situations and market dynamics involving OPEC+ members.
CNG to cost more after govt hikes APM gas price
The government has increased the price of natural gas from old legacy fields to USD 6.75 per million British thermal units, effective April 1. This raise aligns with the decision to incrementally hike rates annually till full deregulation in 2027. The price revision applies monthly but is subject to floor and ceiling limits.
Domestic natural gas price for April up 25 cents to $6.75/mmbtu
India has increased the price of its locally produced gas from oil fields to $6.75 per mmBtu for April. This revision is the first in two years. The ceiling price for gas from difficult fields has also been adjusted to $10.04 per mmBtu for April-September. Higher prices will affect industrial buyers, fertiliser companies, and city gas distribution sectors.
US said to revoke several transnational oil, gas company licenses to operate in Venezuela
The United States has revoked licenses for several international oil and gas companies to operate in Venezuela, impacting firms like Chevron, Repsol, Maurel & Prom, and others. This action is part of the US’s efforts to economically pressure Venezuela and President Nicolas Maduro. Companies have been notified and are beginning to wind down operations.
Regulator proposes tweak in pipeline tariffs; CNG and piped gas to be charged lowest rate
The Petroleum and Natural Gas Regulatory Board (PNGRB) has proposed new tariff regulations to reduce the cost of piped natural gas for domestic and CNG users. The changes include lowering unified tariff zones from three to two, aiming to boost gas infrastructure investment and consumption in remote areas.
GAIL's 12 LNG cargoes a year deal with Qatar Energy starts next month
GAIL (India) Ltd will begin receiving LNG from Qatar Energy Trading under a five-year deal, starting in April 2025, with 12 cargoes per year. In addition, GAIL has signed long-term LNG contracts with Vitol Asia and ADNOC Gas to meet India’s rising energy demands. These agreements support India’s goal to increase natural gas’s share in its energy mix to 15% by 2030.
Smart metering programme can help discoms generate Rs 4 lakh crore additional revenue: Care Edge
Power distribution companies in India could generate around Rs 4.0 lakh crore in additional revenue over the next seven years by installing smart meters. The installation goal of 25 crore smart meters may be missed by 2026. Increased billing and collection efficiencies could further improve the financial health of the power sector.
Oil Minister Hardeep Singh Puri hints at potential petrol, diesel price cut if global crude prices remain subdued
Oil Minister Hardeep Singh Puri hinted at a potential reduction in petrol and diesel prices, contingent on global crude prices continuing to stay low. He mentioned that if crude prices remain subdued, consumers could reasonably expect a fuel price cut after a year-long hiatus.