State-run Indian Oil Corporation (IOC) plans to sell hydrogen generating plants at its oil refineries to monetise non-core assets and leverage operational efficiencies by bringing in domain experts, its Chairman Shrikant Madhav Vaidya said on Tuesday. To begin with, the company will sell its hydrogen generating unit at its Gujarat refinery and based on the experience, may take up units at other refineries, he said. The sale is part of the asset monetisation agenda of the government aimed at generating revenue from selling to private investors unutilised or part utilised assets. These (hydrogen generating units) are already operating units. Now we are trying to leverage the efficiency of operations by handing it over to the licensor of the unit, he said.
ONGC buys 5% stake in Indian Gas Exchange
ONGC. Photo: Livemint
March 11, 2021
Oil and Natural Gas Corp (ONGC) on Wednesday said it has acquired a 5 per cent stake in Indian Gas Exchange (IGX), joining likes of Adani Total Gas, Torrent Gas and GAIL in nation’s first gas exchange.
“ONGC signed a Share Purchase and Shareholders Agreement (SPSHA) with the Indian Gas Exchange (IGX) and the Indian Energy Exchange (IEX) in the presence of Oil Secretary Tarun Kapoor and ONGC head Shashi Shanker,” the company said in a statement.
The Indian Gas Exchange is a subsidiary of the IEX – India’s premier nationwide, automated electricity trading platform. Earlier this year, the IEX announced the strategic investments of 5 per cent each by leading players in the gas value chain – Adani Total Gas, Torrent Gas and GAIL (India) Ltd in IGX.
The Indian Energy Exchange (IEX) on Wednesday announced strategic divestment of 26 per cent of its equity holding in the Indian Gas Exchange (IGX) to National Stock Exchange (NSE) of India Ltd and additional 5 per cent equity holding to Oil and Natural Gas Corporation (ONGC) Ltd. IGX has a robust ecosystem of more than 6,500 market participants which include all distribution utilities in the country, major power generators as well as over 4,500 open access consumers. Secretary at the Ministry of Petroleum and Natural Gas Tarun Kapoor said the government is committed to build a sustainable energy economy in which clean energy sources like gas have a key role to play.
IEX offloads stake in IGX to NSE, ONGC
March 10, 2021
× The Indian Energy Exchange has divested 26 per cent of its equity holding in the Indian Gas Exchange (IGX) to NSE through its wholly-owned subsidiary NSE Investments.
It has also sold 5 per cent equity holding to Oil and Natural Gas Corporation (ONGC), a Maharatna Central public sector undertaking. IGX became India’s first gas exchange after it secured authorisation from the Petroleum and Natural Gas Regulatory Board last December 2.
Tarun Kapoor, Secretary, Ministry of Petroleum and Natural Gas, said the government is committed to building a sustainable energy economy wherein clean energy sources such as gas have a key role to play.
IGX offloads 26 pc stake to NSE, 5 pc to ONGC ANI | Updated: Mar 10, 2021 14:33 IST
The IGX has a robust ecosystem of more than 6,500 market participants which include all distribution utilities in the country, major power generators as well as over 4,500 open access consumers.
Secretary at the Ministry of Petroleum and Natural Gas Tarun Kapoor said the government is committed to build a sustainable energy economy in which clean energy sources like gas have a key role to play. We are working collaboratively with key stakeholders in the value chain to create an enabling policy framework that supports development of gas markets in the country, he said.