India to launch natural gas trading hub by October

Source: The Hindu Business Line, Apr 16, 2018

New Delhi: The government plans to launch a natural gas trading hub by October, creating an Indian gas benchmark which will spark a surge in consumption of the cleaner-burning fuel. Petroleum and Natural Gas Regulatory Board (PNGRB) has sought bids to hire a consultant to help develop a regulatory framework for operationalising the gas trading/exchange hub.

“In order to further boost the consumption of natural gas in the country, Government is considering the establishment of a Gas Trading Hub / Exchange (GTHE), where natural gas can be traded, and supplied through a market-based mechanism instead of multiple formula driven prices,” PNGRB said in the tender floated for hiring the consultant.

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Boost to Ease of Doing Business in Petroleum & Natural Gas Sector

download (1)Source: IBEF.org, Apr 12, 2018

New Delhi: In line with the Government initiative of ease of doing business, the Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for delegating the powers to Minister of Petroleum and Natural Gas and Finance Minister to award the Blocks/Contract Areas to successful bidders under Hydrocarbon Exploration and Licensing Policy (HELP) after International Competitive Bidding (ICB) based on the recommendations of Empowered Committee of Secretaries (ECS). Under HELP, Blocks are to be awarded twice in a year.

Therefore, this delegation of powers will expedite the decision making process on awarding blocks and give a boost to the initiative of ease of doing business.

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Indian Oil, HPCL, BPCL to invest Rs10,000 crore for Bio-CNG plants

Source: LiveMint.com, Apr 10, 2018

Mumbai: State-run oil marketing companies Indian Oil Corporation (IOC); Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) plan to spend nearly Rs10,000 crore to set up Bio-CNG plants across India to promote clean fuel and reduce the country’s fuel import bill, two people aware of the development said.

The Bio-CNG plan will be detailed in the national biofuels policy to be released this month, the people added.

The policy will detail a Rs1 trillion investment opportunity under Waste-to-Wealth projects.

Bio-CNG is a purified form of biogas with over 95% pure methane. It is similar to natural gas in its composition (97% methane) and energy potential.While natural gas is a fossil fuel, Bio-CNG is a renewable form of energy produced from agricultural and food waste.

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PNGRB issues new bidding norms for CNG, PNG retail licence

Source: The Hindu Business Line, Apr 03, 2018

New Delhi: After ‘one paisa’ bids spoilt the initial auction rounds, oil regulator PNGRB has radically changed the bidding parameters for obtaining a licence to retail CNG and piped cooking gas in cities.

The Petroleum and Natural Gas Regulatory Board (PNGRB), in the new regulations released today, said future auctions would be conducted by asking companies to quote the number of CNG stations to be set up and number of domestic cooking gas connections to be given in the first eight years of operation.

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Hiranandani family to invest Rs3,500 crore in oil and gas business

Source: LiveMint.com, Mar 26, 2018

Mumbai: Niranjan Hiranandani’s family is investing around Rs3,500 crore to build liquified natural gas (LNG) terminals in Maharashtra and West Bengal, in a diversification for the Mumbai developer who built the iconic 250-acre Hiranandani Gardens township in suburban Powai.

Led by Darshan Hiranandani, Niranjan’s son, H-Energy (formerly known as Hiranandani Energy) expects to start commercial operation of its first LNG terminal at Jaigarh in Maharashtra by October. The Hiranandanis are spending around Rs 1,700 crore in setting up the terminal and laying down a 60 km pipeline from Jaigarh to Dabhol that is expected to be ready by May 2018.

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Punjab approves policy for gas pipeline laying

Source: The Economic Times, Mar 21, 2018

CHANDIGARH: The Punjab Cabinet on Wednesday approved policy guidelines to facilitate laying of gas pipelines across the state.

The move is in line with a High Court directive to the state government to frame a uniform policy for laying of such pipelines. The policy has been drafted by the Local Government Department after examining the policy of Gujarat as suggested by the Petroleum and Natural Gas Regulatory Board (PNGRB), and in consultation with the concerned departments.

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India’s oil imports from Venezuela hit lowest in over 5 yrs

download.jpgSource: The Economic Times, Mar 13, 2018

Indian imports of oil from Venezuela have fallen to their lowest levels in over half a decade, shipping and industry data showed, as a severe economic and political crisis hits crude output in the South American OPEC member.

India’s oil imports from Venezuela averaged around 300,000 barrels per day (bpd) between November, 2017 and February, 2018, a drop of about 20 percent from the same period a year earlier and the lowest such level since 2012, according to data from shipping sources and industry.

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