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Time of India
10-07-2025
- Business
- Time of India
Gail-Oil India deal: Oil India Ltd to sell natural gas for 15 years; will supply 9 lakh standard cubic metres a day
Oil India Ltd, entered in a long term agreement with Gail, under which it would be selling natural gas from its Rajasthan field for the next 15 years. The deal extends an existing contract between the two public sector giants. As per the Gas Sale and Purchase Agreement (GSPA), effective from July 1, Oil India will supply up to 9,00,000 standard cubic metres of natural gas per day from its Bakhri Tibba block to a power plant operated by Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL). Gail will handle the transportation through its 16,421-km gas pipeline network. The agreement was signed on Wednesday at Gail's corporate office in Delhi by Ranjan Goswami, executive director (business development) at Oil India, and Sumit Kishore, executive director (gas Marketing) at Gail. In a joint statement, both firms said the deal reflects their continued commitment to maximising the value of domestic gas through production, transportation and distribution. "This agreement highlights the dedication of both Maharatna central public sector enterprises (CPSEs) in production, transportation and distribution of gas available from domestic gas fields," the OIL press statement said. Oil India,country's second largest state oil and gas producer, reiterated its focus on expanding its upstream operations across India, while Gail said it continues to play a critical role in gas monetisation. Gail currently transports 127 million standard cubic metres of gas per day and is working on several pipeline projects to widen its reach further. Apart from transportation, Gail also operates a gas-based petrochemical plant in Pata, Uttar Pradesh, and manages an LNG portfolio of 16.56 million tonnes per annum, making up 61% of India's total LNG imports. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
10-07-2025
- Business
- India Gazette
GAIL signs 15-year gas sale and purchase agreement with Oil India
New Delhi [India], July 10 (ANI): GAIL (India) signed a Gas Sale and Purchase Agreement with Oil India Limited (OIL) for extending the existing Gas Sale and Purchase Agreement for another 15 years, starting from 1st July, 2025, according to an official statement by the company. GAIL on Thursday stated that the agreement is to supply up to 900,000 Standard Cubic Meters per Day (SCMD) of natural gas from OIL's Bakhri Tibba Block of Rajasthan, covering Dandewala, Tanot and Bagi Tibba fields. The agreement was executed by Sumit Kishore, ED (Marketing-Gas), GAIL, and Ranjan Goswami, ED (BD), OIL, in New Delhi. GAIL also noted that this agreement highlights the dedication of both Maharatna CPSEs in the production, transportation, and distribution of natural gas available from domestic gas fields, demonstrating their collaborative approach to enhancing energy security and accessibility. The sourced gas will be supplied to the state-run power plant of M/s Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL). GAIL owns and operates a 16,421 km network of natural gas pipelines spread across the length and breadth of the country, transmitting more than 127 MMSCMD of natural gas in the financial year 2024-25. It is also working concurrently on the execution of multiple pipeline projects to further enhance the spread. The company also owns and operates a gas-based Petrochemical Complex at Pata and has a capacity of 810 KTA at Pata and 280 KTA at BCPL. In addition, GAIL's LNG portfolio stands at 16.56 MMTPA (approximately 60 MMSCMD), accounting for 61 per cent of India's total LNG imports. GAIL and its Subsidiaries / JVs also have a formidable market share in City Gas Distribution. According to the company statement, it is also expanding its presence in renewable energy like solar, wind, and biofuel. (ANI)
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Business Standard
09-07-2025
- Business
- Business Standard
Oil India, GAIL extend 15-year gas supply deal from Rajasthan fields
Oil India Limited (OIL) and GAIL (India) Limited have signed an agreement to extend their existing Gas Sale and Purchase Agreement for another 15 years, beginning July 1, 2025. The deal involves the supply of up to 900,000 standard cubic metres per day (SCMD) of natural gas from OIL's gas fields in Rajasthan, Oil India said in a BSE filing on Wednesday. The agreement was signed between Ranjan Goswami, Executive Director (Business Development) at OIL, and Sumit Kishore, Executive Director (Gas Marketing) at GAIL in New Delhi. 'This agreement highlights the dedication of both Maharatna CPSEs in the production, transportation and distribution of gas available from domestic gas fields,' the companies said in a joint statement. GAIL and OIL Q4 results In the fourth quarter of financial year 2025, GAIL (India) Limited reported a consolidated net profit of ₹2,491.76 crore, nearly flat from ₹2,468.71 crore recorded in the same quarter last year (Q4 FY24). Consolidated revenue from operations rose by 11.3 per cent to ₹36,551.15 crore in Q4 FY25, compared to ₹32,833.24 crore in the corresponding period of the previous year. In contrast, Oil India Limited posted a consolidated net profit of ₹1,310.10 crore for Q4 FY25, representing a decline of nearly 39 per cent from ₹2,140.72 crore in Q4 FY24. Revenue from operations fell by around 6 per cent to ₹9,587.82 crore, down from ₹10,165.78 crore in the year-ago quarter. On Wednesday, GAIL's shares closed at ₹185.05 apiece, while Oil India's shares ended at ₹445.30 each on the BSE.
Time of India
09-07-2025
- Business
- Time of India
OIL, GAIL sign 15-year agreement for supply of up to 900,000 SCMD natural gas from Rajasthan fields
New Delhi: Oil India Limited (OIL) and GAIL (India) Limited have signed a 15-year Gas Sale and Purchase Agreement (GSPA) for the supply of up to 900,000 standard cubic meters per day (SCMD) of natural gas from OIL's gas fields in Rajasthan, with effect from July 1, 2025. The agreement aims to support the natural gas requirement of Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL), the state government power utility. The deal was signed at GAIL's corporate office in New Delhi by Ranjan Goswami, Executive Director (Business Development), OIL, and Sumit Kishore, Executive Director (Gas Marketing), GAIL. The supply arrangement builds on an existing commercial relationship between the two Maharatna Central Public Sector Enterprises under the Ministry of Petroleum and Natural Gas. The agreement aligns with the government's plan to increase the share of natural gas in India's energy mix and promote cleaner fuel usage across sectors. As per the agreement, the gas from OIL's Rajasthan fields will be supplied through GAIL's transmission network to RRVUNL's power plants. OIL stated that it will continue to expand its upstream operations through exploration and development efforts in existing and new acreages across the country. GAIL reiterated its focus on gas monetisation through its infrastructure and marketing presence. The agreement is expected to ensure continuous gas supply from domestic sources for the power sector in Rajasthan.
