A brief overview of gas price developments, supply and demand and significant market movers.
Articles Tagged "India"
Reuters reported that India's Reliance Industries Ltd. (BSE:500325) may need to shut down the D6 gas fields in the Krishna Godavari Basin by 2016 if output there continues to drop.
Reuters reported that Turkmenistan, Pakistan, and India may soon complete a gas price deal when the countries meet to discuss a pipeline through Afghanistan.
India has proven to have impressive reserves of shale gas, but until now the national government and private sector have yet to push for any form of notable production.
Xebec Adsorption Inc. (TSX:XBC) announced it has a purchase order for a Pressure Swing Adsorption system to be installed in India.
The latest developments underscore a general theme from the subcontinent as it has been looking at other areas to acquire oil and gas assets overseas to meet its growing energy demand. As Asia’s third-largest oil consumer, India has been aggressively scouting for overseas gas and oil assets to meet its supply deficit and is competing with China for fields from Africa to Venezuela.
India’s Oil & Natural Gas Corp has sold a total of 70,000 tonnes of naphtha at lower premiums on higher supplies amid weak spot demand. For full story, click here
Fitch Ratings has today assigned India’s GSPC Gas Company Limited, a National Long-term rating of ‘A-(ind). Also, the agency has assigned ratings to GSPC Gas’s fund based working capital limits of INR1,450m, as well as to its Commercial paper/short-term debt program of INR350m. For full story, click here
India’s Oil and Natural Gas has a negative net present value on its investment in Cairn India’s Rajasthan block under the revised field development plan. For full story, click here
In a bid to give a fillip to the current round of auction of hydrocarbon assets, finance minister Pranab Mukherjee on Monday extended the tax exemption on profits in the natural gas sector. For full story, click here