NTPC asks ministry to address gas marketing margin issue

October 9th, 2009 NEW DELHI - The Anil Dhirubhai Ambani Group has agreed to pay under protest a marketing margin to Reliance Industries for the gas supplied from the Krishna-Godavari basin, over and above the price formulae of the government. In a letter to the oil ministry, the group has queried if the Mukesh Ambani-led Reliance Industries was entitled to charge the margin, as neither the company has undertaken such an exercise nor has the government's price formulae enabled such a provision.

October 1st, 2009 NEW DELHI - GAIL India Thursday welcomed the petroleum ministry's proposal to allow it to charge marketing margin on sale of subsidised natural gas, saying it would help the company invest more in servicing bad debts and expanding markets. "We are very happy that the government is considering it," GAIL chairman B.C.

September 28th, 2009 MUMBAI - The Anil Ambani group has called the marketing margin for the gas produced by Reliance Industries from the Krishna-Godavari basin illegal and asked the oil ministry to prevent the company from suspending supplies as threatened. In a letter to Petroleum Secretary R.S.

September 13th, 2009 MUMBAI - The Reliance Anil Dhirubhai Ambani Group (R-ADAG) Sunday accused the Mukesh Ambani-headed Reliance Industries of charging an "illegal and unauthorised" marketing margin on sale of gas from the Krishna-Godvari hydrocarbon basin. This, it said, would result in an additional burden of Rs.10,000 crore on the government.

September 10th, 2009 NEW DELHI - State-run power utility NTPC may sign an agreement to buy natural gas from Mukesh Ambani-run Reliance Industries (RIL) at the government-approved rate of $4.20 per unit for plants other than Kawas and Gandhar, Power Secretary H.S. Brahma said Thursday.

September 4th, 2009 MUMBAI - State-run power utility NTPC Friday said it was "committed to drawing the allocated gas" from the Krishna-Godavari hydrocarbon basin for projects in the national capital region that includes Delhi, even though it was fighting a legal battle with the contractor, Reliance Industries Ltd (RIL). "NTPC is committed to drawing the allocated gas for its national capital region gas-based power stations at Anta, Dadri and Faridabad, without prejudice to its rights and contentions in the ongoing suit between NTPC and RIL," said the company in a statement to the Bombay Stock Exchange (BSE).

September 2nd, 2009 NOIDA - State-run power utility NTPC will not file a separate plea in the ongoing legal dispute between Reliance Industries and Reliance Natural Resources since the government has already moved an application to protect its own and the navratna firm's interests, a senior government official said Wednesday. "Since the petroleum ministry has come out in support of NTPC, there is no need for NTPC to go to the Supreme Court," Power Secretary H.S.

August 19th, 2009 NEW DELHI - Union Petroleum Ministry on Wednesday assured its support to National Thermal Power Corporation (NTPC) in the legal battle to get natural gas from Mukesh Ambani's Reliance Industries Limited (RIL) as per the rates decided in 2004. The ministry said it would not allow the interest of the NTPC to be compromised.

July 23rd, 2009 RAIPUR - Power utility NTPC Ltd has agreed to provide 35 percent of the electricity produced at its upcoming 500 MW stage-III Korba project to Chhattisgarh, a government statement said Thursday. "NTPC (formerly National Thermal Power Corp) has agreed to provide 175 MW power to Chhattisgarh from its 500 MW stage-III Korba project that will begin generation by February 2010," the statement said.

July 18th, 2009 CHENNAI - Power plant equipment major Bharat Heavy Electricals Limited (BHEL) Saturday dispatched super-critical boiler columns, weighing a total of 100 tonnes, from its boiler plant in Tiruchirappalli to the NTPC-promoted Barh Thermal Project in Bihar. K. Ravikumar and R.S.Sharma, the CMDs of BHEL and NTPC respectively, flagged off the consignment at Tiruchirappalli, 300 km from here.

July 13th, 2009 NEW DELHI - The central government Monday said it has not issued any directive to the state-run power major NTPC, formerly National Thermal Power Corp, to sign a gas purchase deal with Reliance Industries Ltd (RIL). Government has not issued any instruction to NTPC for signing of gas purchase deal with RIL, Minister of State for Power Bharatsinh Solanki said in a written reply tabled in Rajya Sabha.

July 11th, 2009 RAIPUR - India's largest power producer NTPC, formerly National Thermal Power Corp, Sunday signed an agreement with the Chhattisgarh government for setting up a 4,000 MW coal-fired power plant on an investment of Rs.20,000 crore. Power Minister Sushilkumar Shinde, who was present during signing of the pact, said the plant would be set up in the coal-rich Raigarh district.

May 14th, 2009 NEW DELHI - State-run power major NTPC Ltd has signed a Rs.8,500-crore ($1.7-billion) loan agreement with State Bank of India (SBI), the country's largest lender, it was announced here Thursday. The agreement was signed by NTPC general manager (finance) M.

April 8th, 2009 NEW DELHI - State-run power generation firm NTPC Ltd Wednesday reported 5.6 percent increase in its provisional net profit for 2008-09. NTPC, formerly known as National Thermal Power Corp, posted Rs.7,827.4 crore ($1.5 billion) as profit for 2008-09, compared to Rs.7,414.8 crore the year before, the company said in a statement.

February 8th, 2009 AIZAWL - A 460 MW hydroelectric project will be set up by state-run National Thermal Power Corporation (NTPC) in Mizoram, officials said here Monday. A Memorandum of Understanding (MoU) was signed between NTPC and the Mizoram government to commission the Rs.30 billion power project in Sahia and Lawngtlai districts of southern Mizoram.