Latest news with #GailIndia
Business Standard
10-07-2025
- Business
- Business Standard
Oil India signs 15-year GSPA extension with GAIL India
Oil India informed that it has signed an agreement with Gail India to extend their existing gas sale and purchase agreement (GSPA) for another 15 years. Shares of Gail India rose 0.12% to Rs 185.26 on the BSE. The renewed pact, effective from 1 July 2025, will involve the supply of up to 900,000 standard cubic metres per day (SCMD) of natural gas from Oil Indias gas fields in Rajasthan, it added. This agreement underscores the commitment of both Maharatna CPSEs to the production, transportation, and distribution of gas sourced from domestic fields. It reflects their collaborative approach to strengthening energy security and enhancing accessibility. The procured gas will be supplied to the state-run power utility, Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL), for electricity generation. Oil India is engaged in exploration, development, and production of crude oil and natural gas, transportation of crude oil, and production of LPG. It also provides various E&P-related services for oil blocks. GAIL (lndia) is the largest state-owned natural gas processing and distribution company in the country. It has a diversified business portfolio and has interests in the sourcing and trading of natural gas, production of LPG, liquid hydrocarbons and petrochemicals, transmission of natural gas and LPG through pipelines, etc. Shares of Oil India rose 0.25% to Rs 446.40 on the BSE.
Indian Express
09-07-2025
- Business
- Indian Express
Stocks to Watch on Thursday, July 10: GAIL, Vedanta, RailTel, Bharti Airtel, Prestige Estates and more
Stocks to Watch: Shares of several companies will remain in focus on Thursday (July 10) including state-owned Gail India, RailTel, Reliance Power, Bharti Airtel, and more. On Wednesday, stock markets closed lower due to selling in IT and oil & gas shares as investors turned cautious ahead of the start of earnings season and mixed global trends. Dragged by late selling, the 30-share BSE Sensex fell by 176.43 points or 0.21 per cent to settle at 83,536.08. During the day, it lost 330.23 points or 0.39 per cent to 83,382.28. The 50-share NSE Nifty declined 46.40 points or 0.18 per cent to end at 25,476.10. Gail India has extended its gas sale and purchase agreement with Oil India for another 15 years, reports Reuters. As per the agreement, which is effective July 1, up to 900,000 standard cubic meters per day of natural gas will be supplied from Oil India's Bakhri Tibba block in the western state of Rajasthan to a power plant operated by the state's electricity generation company. Shares of Vedanta Ltd will remain in focus on Thursday (July 10) after US short seller Viceroy Research released a report charging billionaire Anil Agarwal's mining conglomerate to be 'financially unsustainable' and posing a severe risk to creditors. According to PTI, Viceroy said it was shorting the debt stack of Vedanta Resources, the parent company and majority owner of Mumbai-listed Vedanta Ltd. RailTel Limited has received Rs 17.47 crore order from General Administration Department (Gad), Chhattisgarh. The railway firm will be responsible for Network Connectivity, Operation & Maintenance (O&M), Hardware Procurement & Commissioning Implementation of revamped integrated communication WLAN LAN EPBAX Infrastructure. Enviro Infra Engineers Ltd has entered into a JV agreement with AltoraPro Infrastructure Private Limited. The JV gets contract valued at Rs 395 crore from Maharashtra Industrial Development Corporation (MIDC). On Wednesday (July 9), Reliance Power, in an exchange filing, informed that its subsidiary – Reliance NU Suntech Private Limited, had challenged the notice issued by Solar Energy Corporation of India Limited in High Court of Delhi seeking a stay on the proposed termination of its power purchase agreement. 'The Hon'ble High Court of Delhi was pleased to grant the maintenance of status quo between parties and has restrained Solar Energy Corporation of India Limited from taking any coercive actions,' it said in a regulatory filing. Bharti Airtel and Ericsson on Wednesday announced a new agreement to support the telco's rollout of Fixed Wireless Access (FWA) services in India with core network portfolio, deepening a long-standing partnership between the two companies. The deployment will enhance Airtel core capability and capacity for FWA, thereby elevating customer experience for Airtel FWA users, according to a release. Realty firm Prestige Estates Projects Ltd on Wednesday reported a 4-fold jump in its sales bookings to Rs 12,126.4 crore in the first quarter of this fiscal, mainly on strong demand for its housing project in Ghaziabad. The company's sales bookings or pre-sales stood at Rs 3,029.5 crore in the year-ago period. In a regulatory filing, the company informed that it has 'kicked off FY26 with its strongest quarterly performance to date, clocking an all-time high of Rs 12,126.4 crore in sales in the quarter ended June 30, 2025 (Q1 FY26), marking a 300 per cent growth over the same period last year'. Shares of student recruitment solutions provider Crizac Ltd made its market debut at Rs 280, a jump of 14.28 per cent from the issue price on the BSE. Later, it zoomed 25.69 per cent to Rs 307.95. Shares of the firm finally ended at Rs 307.45 apiece, up 25.48 per cent.
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Business Standard
02-05-2025
- Business
- Business Standard
Indian refiners target cheaper US LPG imports with help from China tariffs
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data. After stepping up crude imports and tying up US liquefied natural gas (LNG) supplies, Indian state-run oil companies are evaluating options for LPG imports from the US in July, directly under term contract arrangements — when they begin talks to secure shipments of the cooking fuel for 2026, top refining sources told Business Standard. Talks are also on to secure cheap US LPG in the immediate term in exchange for contracted West Asian supplies. India is a $12 billion LPG market, equivalent to a third of its trade surplus with the US for 2024. India's LPG market is dominated by supplies from United Arab Emirates, Qatar, Kuwait, and Saudi Arabia. The advent of US LPG will enhance India's security of supply for a sensitive fuel, used in kitchens across the nation, an official said. India imported around 20.8 million tonnes of LPG, around 66 per cent of its needs, in 2024-25, according to oil ministry data. The US share was negligible. 'Cheap US LPG is flooding the market,' an official from a state refiner said, adding that with the right discounts US suppliers could capture a large portion of the Indian LPG market, just as discounted Russian oil gobbled up 40 per cent of India's crude oil import business after the war in Ukraine and accompanying sanctions, the official said. The import tax increased costs for Chinese LPG importers, forcing them to turn to West Asia for supplies. The US accounted for half of China's LPG imports in 2024 at 18 million tonnes, ship tracking data shows. Trade talks India's resolve to step up imports of US LPG will help boost its bargaining position in ongoing trade talks with the US. The Trump administration has singled India out over two issues — high tariffs and non-tariff barriers and a huge trade surplus. LPG, together with enhanced crude and LNG purchases may help address the second concern, a government official said. India bought a combined 2 million tonnes of LPG during Trump's first term in the 2019-21 period, before purchases plunged in 2022-24 during the Biden administration by more than half. Signs of higher US energy purchases are already visible. Indian Oil, Gail India, Hindustan Petroleum, and Bharat Petroleum have together tied up around 10 million tonnes LNG on a cumulative basis over five years, company officials said. These volumes, equivalent to around 35 percent of India's annual LNG imports, have been secured at prices linked to US gas benchmark Henry Hub, sending a message to the Trump administration that India is serious about US LNG imports. It is unclear, however, if all the LNG will be sourced from US projects. LPG, which is a blend of propane and butane. is produced duing the refining process and is also available while extracting natural gas; LNG is natural gas liquefied at -162 degree centigrade for ease of transportation. Both fuels are used for cooking, transport and industries. US LPG imports may also increase in the next few months, industry officials said. Supplies may surge to 230,000 tonnes in May compared to a combined 24,000 tonnes in the January-April period, according to estimates based on ship tracking data from market intelligence agency Kpler. A refining source dismissed the estimates as very optimistic but said that they expected higher shipments in June and July. Indian Oil secured a cargo of US LPG recently at a discount of around $15 per tonne compared to what it would pay for West Asian supplies, a trader said. There could be more of such transactions where Indian refiners get to save as much as $20 per tonne, around 2-3 per cent of the cargo cost, the refining source said. Typically, India's LPG sourcing contracts are pegged to the Saudi LPG contract price, announced every month. Shipments are on a freight on board (FOB) basis and India sends its ships to pick up the cargoes. For US LPG, the traders will deliver to India at rates that India pays for West Asian cargo on FOB terms, thereby enabling savings on transport costs, the official explained. Cheaper US LPG will also help state-run refiners, led by Indian Oil, to reduce losses on domestic LPG sales. LPG under recovery for Indian Oil for the January-March quarter was ₹5,600 crore, with 2024-25 revenue losses at ₹19,900 crore.
