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Gujarat Assembly committee raps GSPC for 'over confidence'

The committee, which monitors state-run public sector undertakings (PSUs), in their report tabled in the House Tuesday pointed out several flaws in the process adopted by GSPC in acquiring the KG gas block through aggressive bidding.

Congress workers burn PM Modi's effigy, demands probe in GSPC scam

Citing a CAG report which rapped GSPC for mismanagement, Congress workers here today burnt an effigy of Prime Minister Narendra Modi as they demanded a probe into the alleged scam in Gujarat State Petroleum Corporation.

Funds from debt-ridden PSU used for BJP's PR exercise: Congress

Congress on Wednesday alleged that hundreds of crores of funds from a debt-ridden Gujarat PSU were utilised last year for public relations of BJP at a time when Narendra Modi was made the Prime Ministerial candidate.

BJP used Gujarat PSU money to fund poll campaigns: Congress

Opposition Congress on Wednesday alleged the ruling BJP had diverted a huge amount of money from state-run GSPC to fund the party`s election campaigns in the last three years.

GSPC to spend Rs 2,000 crore on gas terminal at KG-Basin

The proposed terminal will process and supply gas from Deen Dayal West block in KG Basin in KG-OSN-2001/03.

GSPC seeks $14.2 per mmBtu price for KG basin gas

After Reliance Industries Ltd, Gujarat government firm GSPC has sought imported LNG price of USD 14.2 per mmBtu for the natural gas it plans to produce from KG basin fields by year-end.

GSPC seeks $14.2 per mmBtu price for KG basin gas

This price, the firm said, was arrived at through an arms length price discovery exercise it carried out for over a month with supervision of a neutral third party auditor.

BG firms up agreement to supply up to 2.5 MTPA LNG to GSPC

Under the agreement, BG Group will supply state government owned Gujarat State Petroleum Corporation (GSPC) with up to 2.5 million tonnes per annum (MTPA) of LNG, concluding the negotiations announced in September 2011, a company statement said.

GSPC takes cue from RIL, seeks LNG price of KG gas

Gujarat State Petroleum Corp Ltd (GSPC) wants to price gas that it will produce from Deen Dayal West (DDW) gas field in block KG-OSN-2001/3 by third quarter of 2013, at a minimum of USD 8.50 per million British thermal unit, excluding local taxes and margin.

Gujarat Gas to buy 1.1 mmscmd/day imported LNG from GSPC

The company on Thursday "entered into an agreement with GSPC for the purchase of re-gasified LNG volume of up to 1.1 mmscmd for the period from January 2 to January 31 on a firm basis," GGCL said in a filing to the stock exchanges.

BJP refutes Manish Tewari`s allegations

The BJP on Monday termed as "baseless and politically motivated" the allegations levelled by Union minister Manish Tewari.

Oil Min blocks PSUs buying Gujarat Gas stake

Gujarat State Petroleum Corp (GSPC) going solo in acquisition of British energy major BG Group's stake in Gujarat Gas Co Ltd (GGCL) was a result of Oil Ministry blocking its PSUs from joining the Gujarat government firm.

GSPC raises Rs 3,000cr through bond markets to meet capex need

Gujarat State Petroleum Corporation (GSPC) has raised Rs 3,000 crore through the bond market for meeting the capital expenditure requirement.

John Energy begins drilling programme at GSPC-GAIL's NELP VI

GSPC-GAIL 'squd' the first well on June 10 using a 1000-hp John rig. It is targeting the Jodhpur sands formation and is likely to take up to 35 days to drill each well to 1,800 metres, prospecting for 'light oil'.

CAG pulls up GSPC for giving undue benefits to Adani, Essar

The CAG on Friday pulled up Gujarat government company, GSPC for extending undue benefits to Adani Energy and Essar Steel and said the company's poor management of oil and gas exploration business led to over Rs 5,000 crore loss.

GSPC plans to commission 5-MTPA LNG terminal in 2015-16

Gujarat State Petroleum Corporation (GSPC) plans to commission liquefied natural gas terminal with a capacity of 5 million tonne per annum at Mundra by 2015-16, a top state government official said Monday.