IndianOil-Adani Gas Pvt Ltd, a joint venture of Indian Oil Corp and Adani Total Gas, plans to invest Rs 2,500 crore ($301.24 million) over four years to double its gas sales. Currently selling around one million standard cubic meters of gas daily through 300 outlets, the company aims to strengthen infrastructure and increase retail outlets to over 600 to meet the growing demand for gas in India.
State-owned Indian Oil Corporation (IOC) has cornered more than a third of natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the KG-D6 gas, sources said. IOC got 1.45 million standard cubic meters per day out of the 4 mmscmd of gas auctioned last week.
Reliance: City gas companies including Torrent Gas and Gujarat Gas secured a total of 2.21 mmscmd of gas for turning into CNG for sale to automobiles and piped to household kitchens for cooking purposes, two sources with direct knowledge of the matter said.
IOC corners more than a third of D6 gas in latest Reliance auction thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm.