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Gujarat State Petroleum Corporation

Gujarat State Petroleum Corporation

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Gujarat State Petroleum Corporation Ltd
Public company
Industry Oil and gas
Founded 1979 (1979)
Founder Government of Gujarat
Headquarters Gandhinagar, Gujarat, India
Area served
India
Key people
Revenue
  • ₹10,724 crore (US$ 1.6 billion) (2016)
  • -₹875 crore (US$ -134 million) (2016)
  • -₹804 crore (US$ -123 million) (2016)
Owner
Subsidiaries Gujarat Gas
Website www.gspcgroup.com

Gujarat State Petroleum Corporation Ltd (GSPC) Group is a group of oil and gas exploration, production and distribution companies based in Gujarat, India. It is India's only State Government-owned oil and gas company with the Government of Gujarat holding approximately 95% equity stake. GSPC was incorporated in 1979 as a petrochemical company.

History

Incorporated in 1979 as a petrochemical company, GSPC has a wide gamut of hydrocarbon activities. In 1992, GSPC widened the scope of its activities and rechristened itself as Gujarat State Petroleum Corporation in 1994. With the Government of India's decision to privatize the hydrocarbon sector, GSPC acquired several discovered fields in the first and second rounds of bidding process initiated by the Government of India during 1994 and 1995. The company saw a great transformation from the year 2001, when DJ Pandian was appointed the managing director. The public sector company's activities have become controversial, with the CAG indicting the company on many counts.

Operations

GSPC has made one of India's largest gas finds in the Krishna Godavari Basin. It has also built the country's first land-based drilling platform, Ratnakar, at Hazira. GSPC has also exploration activities in Egypt, Yemen, Indonesia, and Australia.

Subsidiaries

Gas

Gujarat State Petronet Limited (GSPL) is a natural gas transmission company. It has 2239 km long gas pipeline network (Gujarat Gas Grid) in Gujarat.[1][2] Gujarat Gas (GGL) is natural gas distribution company which is India's largest city gas distribution company. GSPL India Gasnet Limited (GIGL) and GSPL India Transco Limited (GITL) are join ventures promoted by GSPL along with Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) for the purpose of implementation of 2100 km pipeline passing through Mehsana - Bhatinda - Jammu - Srinagar and another 2042 km pipeline passing through Mallavarm - Bhopal - Bhilwara - Vijaipur respectively. Sabarmati Gas Limited (27.47% holding) was incorporated in 2006 for developing gas distribution network in 3 districts; Gandhinagar, Mehsana and Sabarkantha. GSPL (27.47%), GSPC (11.25%) and BPCL holds another 25.0% and Institutional Investors together hold rest of the company. GSPC LNG Limited (GLL) holds stake in the 5.0 MMTPA LNG terminal at Mundra commissioned in 2017.

Power generation

Gujarat State Energy Generation (GSEG) is a company for power generation in Gujarat which operate Haziara Gas Powerplant commissioned in 2002. GSPC Pipavav Power Company is a company for implementation of a power project at Pipavav in Saurashtra region of Gujarat. It is jointly held by Gujarat Power Corporation Ltd. (GPCL) of Gujarat Government.

IT

Guj Info Petro Ltd. (GIPL) provides IT and telecommunication services.

Education

The Gujarat Energy Research and Management Institute (GERMI) is an institution for energy education, training and research.

Controversial Accounting

GSPC has been audited by the CAG because of his suspicious accounting. Under DJ Pandian the company was involved in the fraudulency of KG river basin.

References

  1. ^ Reporter, B. S. (2007-06-01). "Gas grid to criss-cross whole of Gujarat". Business Standard India. Retrieved 2017-06-24. 
  2. ^ India, Press Trust Of (2012-09-12). "PNGRB cuts GSPL rate for Gas Grid by 40%". Business Standard India. Retrieved 2017-06-24. 

External links



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