Page 15 - AsianOil Week 32

AsianOil
NEWS IN BRIEF
AsianOil
SOUTH ASIA
Adana Gas announces quarterly result
Adana Gas’ operational revenue increased 21% year on year in Q1 FY20 to INR4.79bn vs INR3.96bn in Q1 FY19. Operating EBITDA also increased 32% in Q1 FY20 to INR1.35bn vs INR1.03bn in Q1 FY19.
In the quarter the company connected more than 11,000 PNG connections, cumulatively adding 400,000 connections. e company has operationalized 2 new CNG station, totaling to 84 CNG stations.
Q1 FY20 Overall Sales Volume grew by 9% to 137 mmscm on the back of strong volume growth in both PNG and CNG distribution. Our volume of PNG distribution has increased by 10% to 67 mmscm vs 60 mmscm in comparative period. Our CNG volume has grown by 9% to 71 mmscm against 65 mmscm in comparative period. Our Operating EBITDA for Q1 FY20 has increased by 32% Y-o-Y to ` 135 Cr vs ` 103 Cr last year.
AGL, August 7, 2019
HPCL agrees to classify ONGC as promoter
State-run re ner Hindustan Petroleum Corporation Ltd (HPCL) has agreed to list majority owned Oil and Natural Gas Corp. (ONGC) as its promoter a er receiving a warning from the Securities and Exchange Board of India (SEBI).
HPCL, which announced its decision in a stock exchange ling on August 9, had listed ONGC as a public shareholder in six quarterly stock exchange lings up to and including the quarter ending June 30.
It had listed the President of India under the promoter/promoter group category, even though the state no longer owns shares the company.
SEBI warned to re- le its shareholding structure for all quarters since acquisition of shares by ONGC by August 13 or face “appropriate action”
GAIL’s profit after tax up 15% in FYQ1
GAIL (India) registered a 15% increase in Pro t a er Tax (PAT) in the rst quarter of FY 2019-20, as against the last quarter of FY 2018-19 mainly due to better nancial performance by gas marketing, gas transmission segments and liquid hydrocarbon segment. e company’s PAT for the quarter ending 30th June 2019 is INR12.88bn crore as compared to INR11.22bn in Q4 FY 2018-19.
On year on year basis, GAIL’s PAT of INR12.88bn in Q1 FY 2019-20 registered a growth of 2% against Pro t of INR12.59bn in corresponding quarter of FY 2018-19.
Gross Sales of INR182.76bn in Q1
FY 2019-20 has increased by 6% from INR172.62bn crore in Q1 FY 2018-19. Gross Margin (EBITDA) has seen growth of 2% from INR23.63bn crore in Q1 FY 2018-19 to INR24.10 crore in Q1 FY 2019-20. PBT of
INR19.81bn in Q1 FY 2019-20 is up by 2% from INR19.4bn crore in Q1 FY 2018-19.
Dr. Ashutosh Karnatak, Chairman & Managing Director, GAIL said the increase in net pro t in Q1 FY 2019-20 was supported by better nancial performance in natural gas marketing and transmission segments which outshone a muted performance in petrochemicals.
On consolidated basis, Gross Sales of INR184.45bn in Q1 FY 2019-20 has increased by 5% from INR175.36bn in Q1 FY 2018-19. PAT of INR15.04bn in Q1 FY 2019-20 is up by 4% from INR14.43bn in Q1 FY 2018-19.
GAIL (INDIA), August 9, 2019
SOUTHEAST ASIA
Philippines declares LNG
project to be of national
significance
e Energy Investment Coordinating Council (EICC) through the Department of Energy (DOE) has declared the FGEN Batangas LNG Terminal Project (Project) as an “Energy Project of National Signi cance” (EPNS) in accordance with Executive Order No. 30 (EO 30).
In a communication dated 5 August 2019, the EICC informed the Project’s owner and developer, FGEN LNG Corporation (FGEN LNG), that its application for declaration led in June has been approved. As such, the DOE as lead implementing agency of EO 30 issued a corresponding Certi cate of Energy Project of National Signi cance in favor of the Project. FGEN LNG is a wholly-owned subsidiary of First Gen Corporation (First Gen).
EPNS are signi cant energy projects for power generation, transmission, and/or ancillary services including those required to maintain grid stability and security, and which are in consonance with the policy thrusts and speci c goals of the DOE’s Philippine Energy Plan (PEP).
FGEN LNG’s application for declaration was submitted on the basis that the Project will require the development of signi cant infrastructure and capital investment involving complex technical processes
and engineering designs that will result
in a substantial positive impact on the environment. e Project will also provide a consequential economic impact that
will contribute to the country’s economic development and healthy balance of payments.
e Project is consistent with both the DOE’s Nine Point Energy Agenda and PEP
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