IndianOil increases petrol, diesel prices
NEW DELHI, APRIL 30 : Indian Oil Corporation Ltd (IndianOil) . has decided to effect the following price changes from midnight of April 30 / May 1, 2017
• Increase in Selling Price of Petrol by Rs. 0.01/litre (excluding State levies)
• Increase in Selling Price of Diesel by Rs. 0.44/litre (excluding State levies)
Driven by global price movements :
The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant increase in selling price of Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision.
PM dedicates ONGC's key east coast
project S1 Vasishta to the nation
Thesynergyonline Corporate Bureau
GUNTUR, AP , FEBRUARY 10: Prime Minister NarendraModi today dedicated ONGC's deep water S1 Vasishta Development Project to the nation. Governor of Andhra Pradesh and Telangana ESL Narsimhan and Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu.
Prime Minister dedicating the ONGC project S1 Vasishta and Strategic Crude Oil Storage facility of ISPRL to the nation and also laying the foundation stone for Krishnapatnam Coastal Installation of BPCL
Along with dedicating S1 Vasishta project of ONGC to the nation, Prime Minister also laid the foundation stone for Krishnapatnam Coastal Installation of BPCL and dedicated Strategic Crude Oil Storage facility of ISPRL.
First of the tough deep-sea forays of ONGC, in the promising eastern offshore has been successfully overcome with completion of S1- VasishtaDevelopment Project built at the cost of about INR 5700 Crore (USD 880 Million).
S1 and Vashista fields are free gas fields located 30-35 km off Amalapuram, Andhra Pradesh in water depths ranging from 300-700 meters with in-place reserves of estimated 19.692 BCM of gas to be realized through 4 wells, connected through dual 14" pipelines tied back to onshore terminal at Odalarevu in coastal Andhra Pradesh. Onshore Terminal at Odalarevu has capacity to process 6 MMSCMD gas with a provision for expansion up to 10 MMSCMD.
Integrated Development of S1 Vasishta fields included building of Gas processing facilities at Onshore terminal, drilling and completion of 4 deep water wells, engineering, procurement, installation and commissioning of dual 14" Pipelines and Umbilicals and other associated subsea structures to transport the gas from the ocean floor to the Onshore Terminal at Odalarevu. Connecting subsea deep-water gas wells to onshore terminal through a network of underwater pipelines and control Umbilical had been one of the most strenuous tasks. About 86 KM of 14" pipelines were installed on seabed in offshore and about 8 KM on land.
GAIL Q3 FY19 PAT at Rs 1,681 crore,
up by 33% on year - on-year basis
PBT Rs 2,507 crore up by 35%; Gross Margin Rs. 2,894 crore up by 27%
Thesynergyonline Corporate Bureau
NEW DELHI, FEBRUARY 05 :
GAIL (India) registered a 33 per cent increase in Profit after Tax (PAT) in the third quarter of Financial Year 2018-19 as against the corresponding quarter in the last fiscal mainly due to better performance by Natural Gas (NG) Marketing, NG Transmission, Liquid Hydrocarbon (LHC) and LPG Transmission Segments.
The company's PAT for the quarter ended December 31, 2018 rose to Rs. 1,681 crore from Rs. 1,262 crore in the corresponding quarter of the last fiscal. GAIL's Profit before Tax (PBT) for the third quarter increased by 35% to Rs. 2,507 crore against Rs. 1,858 crore in the corresponding quarter of the last fiscal.
The increase in net profit in Q3 FY 2018-19 on year- on- year basis, was supported by increase in Natural Gas Marketing volumes by 9 per cent, LPG Transmission volumes by 11per cent and Liquid Hydrocarbon Sales by 5 per cent.
On nine months basis, GAIL's PAT is Rs. 4,903 crore, signifying an increase by 36% against corresponding period of FY 2017-18.
Mr B C Tripathi, Chairman & Managing Director, GAIL said that in the third quarter, the LHC segments performed remarkably better than the last quarter due to better margin in the segment. However the margins in Natural Gas Trading and Petrochemical segments were under pressure in the quarter. Further on nine month basis, the PAT of the company has already surpassed the yearly PAT of the last fiscal supported by better physical performance in all the business segments.
Mr Tripathi, informed that GAIL's petrochemical unit at Pata has scripted history by being the first in India to produce the value added Metellocene film grade. Countrywide sales have commenced to quality conscious customers after successful field trials.
This move of GAIL would not just provide domestic consumers of a reliable and indigenous supply source but shall help potential forex savings of over USD 100 million annually for India, as per initial estimates.
He said GAIL is expected to achieve Capital expenditure outlay of around Rs. 7,000 crore in 2018-19 which is more than 70 per cent increase from last year. The first phase of prestigious Pradhan Mantri Urja Ganga project will be completed by the end of this month.
The company had also declared an interim dividend of Rs 6.25 per equity share (face value of Rs. 10 each) for the financial year FY 2018-19.
"O gentle vision in the gardens of dawn !
Energy major ONGC eyes
Thesynergyonline Corporate Bureau
DEHRADUN , JANUARY 26:
Maharatna Oil and Natural Gas Corporation Limited (ONGC) is mulling a vision document "Strategic Roadmap 2040". The document is expected to craft the company's strategy as an integrated energy major with a long-term perspective, Mr Shashi Shanker, CMD, ONGC said during his speech after hoisting the national tricolor at the Republic Day at company's headquarters in Dehradun.
"The document would reframe the vision and recast the objectives of Perspective Plan 2030", he said. The Perspective Plan 2030 was ONGC's earlier vision document that outlined strategic goals for the growth of organization and for the energy security of the nation.
"Our portfolio has seen a metamorphic change in the last decade. Today our business portfolio includes E&P, Refining, Petrochemicals, LNG, Pipelines, Retail, SEZ Infrastructure, Power etc. While these developments open up new vistas and opportunities for the Company, they also add layers of complexity to our decision-making and strategic framework", he said.
Mr Shanker said that ONGC is considering many opportunities for sustaining growth and fulfilling its vision of becoming a global energy leader. The exercise also envisages evaluating potential growth areas both within and outside India, so that ONGC is able to prioritize suitable actions well in advance.
Overall, FY'18 was a solid year for ONGC, Mr Shanker said. Our standalone hydrocarbon production increased year on year; the uptick in gas output was particularly impressive. Crude oil output increased marginally from FY'17 levels while gas output increased by over 6% to 23.5 BCM from 22.0 BCM in FY'17, he added.
Mr Shanker also expressed his satisfaction with the performance of the company's subsidiaries. Overseas production recorded another strong year of growth. O+OEG output increased to over 14.00 MMtoe in FY'18 against 12.80 MMtoe in FY'17. Vankorneft and Lower Zakum in UAE were milestone acquisitions which instil confidence in the growth story going forward. Performance of domestic subsidiaries and JVs was also impressive. MRPL recorded its highest ever throughput of 16.31 MMT with a Gross Refinery
Margin (GRM) of US$ 7.54/bbl. The completion of acquisition of majority stake in HPCL which intensified our downstream presence is a notable development during the year. Petchem ventures – OPaL and OMPL – also made encouraging progress during the year. Both units are EBITDA positive and are expected to reach 100% utilization very soon, he said.
ONGC celebrated Republic Day with pomp and aplomb across its various workcenters. Mr N K Verma, MD, ONGC Videsh unfurled the national flag at Delhi and addressed the august gathering comprising former Chairmen, Directors and senior executives of the company. A vibrant display of patriotic flavour could be witnessed as employees and their families displayed a cultural extravaganza to celebrate this important national day.
PM lays foundation stone of Bokaro – Angul section of 'Pradhan Mantri Urja Ganga'
Section will be crucial for supply of natural gas in five districts of Odisha and six in Jharkhand
BHUBNESHWAR, DECEMBER 24 : Prime Minister Mr Narendra Modi today laid the foundation stone of the Bokaro – Angul section of the Jagdishpur – Haldia & Bokaro – Dhamra pipeline (JHBDPL), paving the way for the supply of natural gas for households, vehicles and industries in 11 districts of Odisha and Jharkhand.
The foundation stone was laid by the Hon'ble Prime Minister in the presence of Governor, Odisha, Prof. Ganeshi Lal, Chief Minister, Odisha, Mr Naveen Patnaik, Minister of Tribal Affairs Mr Jual Oram, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship Shri Dharmendra Pradhan, Member of Parliament Mr Prasanna Kumar Patasani and a host of other noticeables.
The Bokaro – Angul section being constructed by GAIL (India) will have a total length of 667 km, of which 367 km will be in Odisha and 300 km in Jharkhand. It will cover five districts in Odisha (Angul, Sundargarh, Jharsuguda, Sambalpur and Debagarh) and six districts in Jharkhand (Bokaro, Ramgarh, Ranchi, Khunti, Gumla, Simdega).
The project cost of this section will be approx. Rs 3400 crores and is scheduled to be completed by December 2020. The section is part of the 2650 km-long JHBDPL project, popularly known as 'Pradhan Mantri Urja Ganga' passing through the states of Uttar Pradesh, Bihar, Jharkhand, West Bengal & Odisha. The pipeline is further being extended from Baruani (Bihar) to Guwahati (Assam) with a length of approx. 730 Km which will be a gateway for pipeline infrastructure in the North East.
Petroleum and Natural Gas Regulatory Board (PNGRB) has already awarded the Geographical Areas for development of City Gas Distribution networks in these 11 districts to different entities and the Bokaro – Angul section will be cater for the supply of natural gas to these areas.
GAIL has already placed order for line pipes for the section and delivery has commenced at the site. Work will be executed in five sections and five contractors have been engaged for the purpose.
The pipeline shall benefit a large population in the districts enroute with clean and green fuel in the form of household PNG connection & establishment of CNG station resulting in easy accessibility to cooking fuel to thousands of households and reducing vehicular pollution. Further, it will also cater the energy demands of steel, refractories, aluminum and other industries en-route the pipeline, besides generating employment opportunities for thousands of local youth.
'"I sing once more
The mild continuous epic of the soil"
― Vita Sackville-West, The Land
Dharmendra Pradhan inaugurates ONGC
CSR project to promote organic farming
Thesynergyonline Corporate Bureau
NEW DELHI, DECEMBER 23 :
Oil and Natural Gas Corporation (ONGC ) in collaboration with Eklavya foundation has created Center for Agriculture Research and Training in Telangana for training farmers in organic farming using latest technology. Mr Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Skill Development and Entrepreneurship inaugurated the Corporate Social Responsibility (CSR) project for construction of hostel, classrooms, computer labs & administrative block at the center benefiting more than 3500 farmers in organic farming, yesterday.
Speaking at the inauguration of the facility the minister said, "This area is known for toor daal produce, and I dedicate this initiative to my brothers and sisters who are engaged in farming and I hope they will be able to use the facilities created here and understand and adopt modern technology for improving production".
The minister championed the cause of skill development of the farmers to promote organic farming in a big way across the country, and said such noble projects will improve the standard of living of our farmers. Shri Pradhan also said that organic farm produce is another area for promoting export of these products with suitable quality controls and market linkages, helping India become a net exporter in organic produce. He said the concept of 'Jai Jawan, Jai Kisan' is very close to the heart of this government and will strive to take the project to the entire nation.
This iconic CSR project, envisioned by the government, has been supported by ONGC to help India develop a sizeable organic farming market. CMD ONGC Mr Shashi Shanker said that the company is proud to be associated with this kind of project through its CSR to empower people towards inclusive development. "Technology induction in agriculture to foster organic farming will be a game changer. This project will usher in a beginning in our agri-economy", he added.
Dr Alka Mittal, Director HR, ONGC who was present in the inauguration programme to steer this iconic project said that through proper skill development and use of technology, the farmers will be able to migrate to organic farming which will have three fold benefits- the farmers will prosper and the quality of life of their families will improve, their consumers will get healthy agro-products and there will be environment conservation as well leading to improved ecosystem in which the entire state of Telangana will flourish.
The facility will also reach out to farmers in ONGC operational areas in Andhra Pradesh, training them in organic farming and enrolling them in PGS System, an internationally applicable organic quality assurance system, similar to ISO. The PGS System would certify their farm produce as organic produce and recognize them as export quality internationally.
The project will be immensely beneficial for increasing the scope of organic farming in the entire Telangana and other neighbouring region. This project will help the farmers and local youth to enhance their livelihood by imparting them employment with enhancing vocation skills. The project is being implemented in one of the most backward areas in the region. It will benefit about 3500 farmers, 200 students and consumers in general by way of promoting organic farming.
ONGC experts bring 'Pethai' hit offshore
drilling rig in India's Eastern Coast to normal
Thesynergyonline Corporate Bureau
NEW DELHI, DECEMBER 22 :
A team of experts mobilised by Oil and Natural Gas Corporation (ONGC) brought cyclone hit semi-submersible rig 'Olinda Star' back to normal. The rig had reported tilting at an angle in the aftermath of cyclone Pethai which hit coastal Andhra Pradesh last week.
The rig 'Olinda Star' had been deployed for ONGC operations on the East Coast of India. After Met Department's cyclone warning, the 111 crew members working on the rig were evacuated on 14th and 15th December itself. ONGC made elaborate and quick arrangements for evacuating persons and deployed helicopters and boats.
As the weather had been rough with large swells hampering the approach to the rig via sea, Indian Navy helicopters were pressed into service to ferry expert crew to the rig. Twelve persons including salvage team members, boarded the rig on December 21 morning and carried out the salvage operation promptly, re-stabilizing the rig. ONGC's top management, including CMD Mr Shashi Shanker, were personally monitoring the development.
As per the inspection, the rig does not show any structural damage, and equipment appears to be operable. The salvage crew successfully started the ballasting system to level the rig and could bring it to normal in few hours. The observations reported so far have been very encouraging. The rig's main generators are on and other machines and equipment are being tested and put to operations. The salvage team has confirmed that rig is safe to operate now.
ONGC along with its operator associates responded to the challenge with utmost alacrity and ensured safety of both onboard crew members and the rig. The rig will soon resume normal drilling operations.
This would perhaps be a record time in which a potential oil field incident of this kind could be successfully handled. International experts were mobilized very quickly and taken onboard to handle the crises. The Indian Navy and local administration provided timely support during the operations.
Rig Olinda Star is semisubmersible drilling rig hired by ONGC for operating in deeper water of East Coast for its ongoing projects. The rig is fully certified by all required international statutory and regulatory agencies as well by national safety regulators like OISD. The rig has been drilling for ONGC at East Coast since January 2018 and has been performing as expected.
Petrotech to strengthen global oil
and gas engagement – Dharmendra Pradhan
Thesynegyonline Energy Bureau
NEW DELHI, DECEMBER 19 : Petrotech 2019 shall be an effective platform to strengthen global oil and gas engagement, said Mr Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship while addressing diplomats from various countries here yesterday.
Mr Pradhan was speaking at the Diplomatic Curtain Raiser of Petrotech 2019, the 13th edition of the international oil and gas conference and exhibition, which is being organized by ONGC in association with FIPI under the aegis of Ministry of Petroleum and Natural Gas, Government of India.
"My ministry remains committed to facilitate participation of your representatives. Together we will make Petrotech successful and this will help open new doors", he said urging the diplomats to encourage their ministers and top CEOs in their countries to participate in Petrotech 2019, which is being organized in the National Capital Region from 10-12 February, 2019.
Mr Sunjay Sudhir, Joint Secretary, International Cooperation, MoPNG presented the detailed program of the three day event, emphasizing on the theme 'Shaping the New Energy World through Innovation and Collaboration'. He brought out the significance of Petrotech as a global platform for all stakeholders in the entire hydrocarbon value chain.
Earlier, while delivering the welcome address Mr Shashi Shanker, CMD ONGC said "Petrotech is one of the largest events of its kind in South East Asia, attracting policy makers, speakers, business partners, technology and service companies, delegates and exhibitors from India and overseas for deliberations on the current challenges faced by the industry and also showcasing the technology advancement in the energy sector", he said.
"Experience is costly knowledge."
"The wise communicate in subtle ways."
Alka Mittal takes charge as Director (HR), ONGC
Thesynergyonline Corporate Bureau
NEW DELHI, NOVEMBER 27 : Dr Alka Mittal has joined as Director (HR) of Oil and Natural Gas Corporation Limited (ONGC) today. A post graduate in Economics, MBA (HRM) and Doctorate in Commerce and Business Studies, she joined ONGC as a Graduate Trainee in 1985 and brings with her an extremely rich experience spanning over three decades.
She is on the Board of ONGC Mangalore Petrochemicals Limited (OMPL) as ONGC nominee Director since August 2015.
Prior to joining as Director (HR), Dr Mittal held the post of Chief Skill Development (CSD) of the Company. In her capacity as CSD she streamlined the activities and brought in uniformity in the working of the Skill Development Centres promoted or supported by ONGC. During this period, she has also implemented Apprenticeship Training scheme in ONGC engaging more than 5000 apprentices across all work centres.
Previously, she worked as Head CSR, at Corporate Office and took up major CSR projects across India.
Earlier, she has led the HR-ER functions in various capacities across regions including Vadodara, Mumbai, Delhi and Jorhat and was also the Head of Corporate Communications, Delhi during 2009.
She has a special penchant for training and mentoring and has trained more than 11000 GTs of ONGC since 2001 on "Corporate Governance" as part of their induction programme.
As a senior HR specialist, Dr. Alka Mittal has made rich contributions in various professional forums and bodies. She is an Executive Committee member of NIPM (National Institute of Personnel Management), and was President of Forum for Women in Public Sector (WIPs) Northern Region till recently and heads the Women's Development Forum of ONGC.
She has always strived to foster the philosophy of equal opportunity employer and created a conducive ecosystem for women to grow professionally.
Petroleum Minister visits ONGC
Asset; puts well to production
Thesynergyonline Corporate Bureau
GANDHAR,SEPTEMBER 03 :
Mr. Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, visited the drilling installation and CPF Gandhar of Ankleshwar Asset in Gujarat. Mr. Pradhan was overjoyed to personally put the Well #DJDG on production as it spudded gas.
He shared his excitement saying that, “Today is really an auspicious occasion being Krishna Janmashtami and also giving first production of gas from the well being drilled by ONGC.”
While witnessing the operations from the derrick floor he complimented the ONGC field crew for working in the challenging environment.
His first halt was at Rig EV 2000-2 near Dahej, Gujarat. He took a keen interest in meeting the rig crew and understanding the technicalities of drilling operations.
The Minister was accompanied by CMD, Mr Shashi Shanker, Director (Onshore), Mr SK Moitra and ED-Asset Manager(Ankleshwar Asset), Mr SA Ravi besides senior executives of the Asset.
Mr Pradhan took a review meeting at CPF Gandhar where he was given a brief overview of the production from the four Assets of Western Sector.
He evinced keen interest in the new technologies like Low Frequency Seismic (LFS) adopted for enhancing production from the existing fields.
He also asked the Asset team to make concerted efforts to draw up strategies to further increase production in the remaining two quarters of this financial year. Commenting on the CSR and skill development efforts of the Asset he said that the employment of apprentices is commendable but more budget allocations may be made for undertaking CSR programmes in the area.
The Member of Parliament, Shri Mansukh Bhai Vasava, MLA and Minister Govt of Gujarat, Mr Ishwarbahi Patel, MLA Mr Dushyant Patel were also present for the review meeting at CPF Gandhar.
MoPNG launches online portal for common carrier capacity booking on GAIL's pipelines
Platform to enhance consumer experience
Thesynergyonline Corporate Bureau
NEW DELHI, AUGUST 27 : In a first step to facilitate gas trading on Hub or exchange traded platforms in India, Hon'ble Minister for Petroleum and Natural Gas & Skill Development and Entrepreneurship Shri Dharmendra Pradhan, today launched an online portal for enabling easy, efficient and transparent booking of Common Carrier capacity for natural gas transmission services under GAIL's pipelines.
Online portal is accessible on www. gailonline.com and was launched in the presence of PNGRB Chairperson Mr D K Sarraf, GAIL Chairman & Managing Director Mr B. C. Tripathi, GAIL Director (Marketing) Mr Gajendra Singh, MoPNG Joint Secretary Mr Ashish Chatterjee and other noticeables from Ministry and Regulatory Board.
The portal operates within the regulatory framework and is the first of its kind portal in the natural gas sector of India, to provide gas consumers the facility to register pipeline capacity bookings online and endeavours to continue the practice of serving on first-come-first-serviced basis.
Speaking on the occasion, GAIL CMD Mr B C Tripathi said- "with this online initiative, GAIL has raised the standards of consumer experience for third-party access to natural gas pipelines to consumers in India. GAIL has been providing third party access to pipelines since 2004 and over 100-150 consumers small and large are routinely being serviced at any time, during the last few years."
Gas trading entities such as- IOCL, BPCL, RIL, GSPC, etc., and consumers such as- M/s CFCL, NFL, IFFCO, KRIBHCO, Jindal Aluminium, Toyota Kirloskar, Suzuki Motorcycle, Tata Ceramics, Hindalco etc., have been availing the pipeline transmission services as third party users of capacities on GAIL's pipeline networks.
Out of the total earmarked Common Carrier capacity in various GAIL's pipelines, around 33% of the Common Carrier capacity was used by third party shippers during FY 2017-18. Under PNGRB guidelines, upto 25% of the total pipeline capacity is to be earmarked for Common Carrier capacity, i.e., for providing non-discriminatory open-access on first-come-first-served basis, for transporting third party gas for a period of less than one year.
GAIL is India's largest integrated natural gas company with more than 11,400 kms of natural gas pipelines operating across various parts of the country. Presently, it is working on increasing the gas grid by another 5,000 km, including the Jagdishpur – Haldia & Bokaro – Dhamra and Barauni-Guwahati pipeline (known as the Pradhan Mantri Urja Ganga Project) which will connect eastern and north-eastern India.
IFCI stands by the poor and needy handicapped
Thesynergyonline Corporate Bureau
NEW DELHI, AUGUST 21:
Sri Gurudeva Charitable Trust (SGCT), located at Mangalapalem in Kothavalasa Mandal of Vizianagaram in Andhra Pradesh, registered as a Trust since 2007 is one of the leading Artificial Limbs Manufacturers in Andhra Pradesh and has been distributing artificial limbs and polio callipers to the poor and needy handicapped persons free of cost in and around Andhra Pradesh, Karnataka, Tamil Nadu, Odisha and other states for more than a decade.
The former Vice Chairman of the Trust, Late Sri G. NalineeshBabu, had been awarded National Award by Shri APJ Abdul Kalam in 2004. Presently, the Trust is headed by Sri JagadeeshBabu, Chairman and Chief Functionary Officer. Sri Babu has been in the service of needy poor especially in rural and tribal areas for more than 15 years. The Trust has so far identified and distributed around 30,000 artificial limbs to beneficiaries free of cost. Besides, distribution of prosthetics, SGCT has also adopted several villages and has provided clothing, medicines, food, mineral water plants etc.
IFCI Social Foundation(ISF), a charitable trust formed by IFCI Ltd., a Government of India undertaking, is functioning as the CSR arm of the IFCI Group. Formed and registered in 2014, ISF has been implementing CSR initiatives in almost all states of India.ISF is guided by its values viz., Inclusiveness, Integrity, Commitment and Passion with the overall vision "To be one of India's premier CSR Institutions and strive to make sustainable social impact with inclusiveness".Its major focus has been in areas of health, sanitation, education, skill development, empowerment and social welfare of women and girl child. It aims at improving the socio-economic well-being of the society, particularly the underprivileged and vulnerable sections of the society who are deprived to live upto the potential that they possess. It aims to create assets to deliver societal benefits to all the geographical regions of the country without any regional, linguistic, caste, creed, religious or other barriers.
IFCI Social Foundation (ISF) feels privileged at the opportunity of being associated with Sri Gurudeva Charitable Trust (SGCT)whomanufacture and distributeartificial limbs, polio callipers, tri-cycles and wheel chairs for physically challenged persons free of cost with a view to improving thequality of life and empowering the physically challenged people. Dr.EmandiSankara Rao, MD & CEO, IFCI Ltd. and Chairman of IFCI Social Foundation along with Ms. Pooja S. Mahajan, CEO, IFCI Social Foundation and Shri Samik Dasgupta, General Manager, IFCI Ltd. distributed artificial limbs, polio calipers, tri-cycles and wheel chairs and interacted with the beneficiaries on August 21, 2018.
The needy and handicapped beneficiaries expressed their gratitude to IFCI Social Foundation for this support.
GAIL's Q1 PAT up 23 % at
Rs 1,259 crore on q-o-q basis
PBT Rs. 1,940 crore, up by 21%; Gross Margin Rs. 2,363 crore, up by 18%
Thesynergyonline Corporate Bureau
NEW DELHI, AUGUST 10 : GAIL (India) registered a 23 percent increase in Profit after Tax (PAT) in the first quarter of FY 2018-19, as against the last quarter of FY 2017-18 due mainly to better performance by Gas Trading and Petrochemicals Segments. The company's PAT for the quarter ended June 30 , 2018 was Rs. 1,259 crore as compared to Rs 1,021 crore in Q4 FY 2017-18.
On year on year basis, GAIL's PAT of Rs 1,259 crore in Q1 FY19 registered a growth of 23 per cent against Profit of Rs 1,026 crore in corresponding quarter of FY 2017-18.
Gross Sales of Rs 17,262 crore in Q1 FY19 has increased by 50 per cent from Rs 11,540 crore in Q1 FY18.
Gross Margin (EBITDA) has seen growth of 17 per cent from Rs 2,015 crore in Q1 FY18 to Rs 2,363 crore in Q1 FY19. PBT of Rs 1,940 crore in Q1 FY19 is up by 24% from Rs 1,569 crore in Q1 FY18.
The increase in net profit in Q1 FY19 on year-on-year (y-o-y basis was supported by better physical performance in every segment, Natural Gas Marketing & Transmission volumes were up by 24 per cent and 7 per cent respectively, Petrochemical sales was up by 27 percent, Liquid Hydrocarbon Sales was up by 7% and LPG Transmission was up by 1 per cent.
Mr B C Tripathi, CMD, GAIL said, "While all segments contributed positively to the company's profit, Gas Trading and Petrochemicals Segments performed better than the last quarter due to improved physical performance in Gas Trading segment and better margin in Petrochemicals segment."
He further added that apart from healthy financial growth in the first quarter, the current financial year also saw important agreements entered by the company. GAIL inked JV agreement with Greater Calcutta Gas Supply Corporation Ltd. (a Govt. of West Bengal entity) for operating city gas network in Kolkata Geographical area. GAIL also signed Tolling Agreement with Dhamra LNG Terminal Pvt. Ltd. for 1.5 MMTPA Regas Capacity at Dhamra LNG Terminal, Odisha for securing RLNG/LNG supply in Eastern Region of the country.
CMD, GAIL added that CGD commercial activities in Varanasi and Cuttack have started during the year. GAIL Gas Ltd., 100% subsidiary of GAIL, along with Joint Ventures have participated in 9th CGD bidding which are under evaluation and GAIL expects to add more Geographical areas into its CGD business.
ONGC wins four accolades at 5th Dun & Bradstreet PSU Awards
Thesynergyonline Corporate Bureau
NEW DELHI, JULY 27 : Oil and Natural Gas Corporation Ltd. (ONGC) has swept the Dun & Bradstreet PSU Awards 2018. The Energy major has been adjudged winner in four categories viz. ‘Mining & Exploration: Crude Oil’, ‘Mining & Exploration’, ‘CSR’ and ‘Swachh Bharat’. ONGC won the top honour in each of the four awards, which were keenly contested; it was the only winner in Swachh Bharat category.
The awards were received by Director (Exploration) Mr. A.K. Dwivedi from Chairman, Prime Minister’s Economic Advisory Council & Member, NITI Aayog, Mr. Bibek Debroy, at New Delhi on 24 July 2018.
ONGC Director (Exploration) A.K. Dwivedi (left) receiving Dun & Bradstreet Award from Chairman, Prime Minister’s Economic Advisory Council Bibek Debroy (right)
ONGC has discovered 6 of the 7 oil and gas producing basins in India, establishing 10 billion tonnes of in-place hydrocarbon reserves through more than 650 discoveries. It has cumulatively produced 1,158 million metric tonnes (MMT) of crude oil and 769 billion cubic meters (BCM) of natural gas. The energy Maharatna has a stellar record in CSR and Swachh Bharat as well, having participated proactively in various Swachh Bharat projects under CSR across its pan-India work-centers. Recently, ONGC has partnered the Uttarkashi (Uttarakhand) cleaning project under Swachh Iconic Place (SIP) drive.
Dun & Bradstreet's ‘PSU Awards’ honours the leading PSU companies across various categories of business excellence. Dun & Bradstreet is the world’s leading knowledge provider for the past 177 years with a global presence in 190 countries.
Minister, P&NGMr Dharmendra Pradhan launches commencement of PNG supply in Bhubaneswar
Thesynergyonline Corporate Bureau
• Piped Natural Gas supply to be commenced in 255 houses in NALCO Nagar
• Supply to start almost six months before deadline of March 2018
• Four CNG stations also under construction
Mr Dharmendra Pradhan, Minister for Petroleum & Natural Gas and Skill Development & Entrepreneurship launching the commencement of piped natural gas supply to residents of Bhubaneswar.
BHUBNESHWAR, OCTOBER 20 :
On the auspicious occasion of Deepawali, Mr Dharmendra Pradhan, Minister for Petroleum & Natural Gas and Skill Development & Entrepreneurship on Friday launched the commencement of Piped Natural Gas (PNG) supply to residents of Bhubaneswar.
The Minister launched the supply of environment-friendly PNG by GAIL (India) in NALCO Nagar at a function in the presence of Mr B C Tripathi, Chairman & Managing Director, GAIL, Dr T K Chand, CMD, NALCO, Dr Ashutosh Karnatak, Director (Projects), GAIL, Mr B K Thakur, Director (HR), NALCO and other noticeables.
Expressing happiness at the fast pace of work, Shri Pradhan praised GAIL for the early commencement of the 1st phase of supply of PNG in 255 houses which was earlier expected to be completed by March 2018. He said GAIL took up the project on a war-footing and commenced supply of natural gas almost six months before the deadline.
The commencement of supply of natural gas is an important step towards the fulfillment of Hon’ble Prime Minister Shri Narendra Modi’s dream of developing a gas-based economy and linking Eastern India to the country’s Natural Gas Grid through the ‘Pradhan Mantri Urja Ganga’, which will pass through five states, i.e. Uttar Pradesh, Bihar, Jharkhand, Odisha and West Bengal. The longest stretch of the project – 769 kms – will be built in Odisha. This pipeline will lead to industrial development of eastern India.
City Gas Distribution (CGD) projects in Bhubaneswar and Cuttack are being taken up in parallel with the Jagdishpur – Haldia & Bokaro – Dhamra Natural Gas Pipeline (JHBDPL), popularly known as ‘Pradhan Mantri Urja Ganga’.
In Odisha, the Natural Gas Pipeline will be constructed at an estimated investment of Rs 4,000 crores and have a length of about 769 km covering 13 districts, i.e., Bhadrak, Jajpur, Dhenkanal, Angul, Sundergarh, Sambalpur, Jharsuguda, Debagarh, Jagatsinghpur, Cuttack, Khordha, Puri and Kendrapara & will connect major industrial clusters of Khurdha, Jharsuguda, Rourkela, Sambalpur, Bhubaneswar, Cuttack, Angul, Dhenkanal, Kalinganagar, Jajpur and Paradip.
GAIL also plans to provide PNG connections in the near future to adjacent Jeevan Bima Colony and Maitri Vihar Colony covering a total of 1,000 houses. Assessment is also being carried out for PNG supply to leading hotels, hospitals and industrial units of the city.
Initially, natural gas will reach Bhubaneswar in special containers called “cascades” which will be transported by road from Vijaywada in Andhra Pradesh. Later, natural gas will be supplied through the Jagdishpur – Haldia & Bokaro – Dhamra Natural Gas Pipeline (JHBDPL). The pipeline is presently under construction and likely to be completed by 2019.
In Bhubaneshwar & Cuttack, the number of PNG connections will be gradually ramped up in the next three to five years. Moreover, 25 CNG stations will be commissioned in the twin cities to supply compressed natural gas (CNG) fuel to vehicles.
PNG is not just eco-friendly, but is one of the most convenient and safe fuels. There are no hassles of booking and storing cylinders as gas is continuously supplied through pipes and payment is done after usage on the basis of meter reading. Moreover, in the unlikely incident of leakage, the gas quickly rises and disperses in the atmosphere without causing damage,
In Bhubaneswar, construction activities of CNG stations have already been taken up at Chandrasekharpur, Patia, Khandagiri and Tamando, and supply will be commenced at the earliest.
The overall capital expenditure for the Bhubaneswar and Cuttack CGD projects will be Rs. 1,700 crores, of which Rs 400 crores will be spent in the next three to five years.