Media reports indicate that around 68 oil and gas blocks may be auctioned by the government during the the 10th round of New Exploration Licensing Policy (NELP) in 2013-14. Union petroleum ministry and the Directorate General of Hydrocarbons (DGH) are in the process of securing various clearances for offering the
Author: admin (Infratructure Today)
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ONGC to set up its own power plants
ONGC plans to set up its own power plants, not just gas-based but also facilities based on nuclear, wind and other conventional energy sources, the government-owned exploration company Chairman and Managing Director Sudhir Vasudeva said on March 28. He was speaking after inaugurating the monetisation and production operations from the first onshore marginal gas fields in KG basin at Ponnamanda village in East Godavari district of Andhra Pradesh.
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Highway construction reaches 15 km a day
Construction and expansion of national highways touched 15 km a day during 2012-13, registering an increase of over 4 km per day. Though this is much less than the government's commitment to construct 20 km per day, it has come as a relief to the Union Highways Ministry and National Highways Authority of India (NHAI) in light of very few projects on public-private-partnership (PPP) being bagged by highway developers.
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Operation at Gopalpur port to begin soon
MM Moharana, Director of Gopalpur Port (GPL) in Odisha informed that the actual operation in the port would begin within the next fortnight and the port can now handle around 3 million tonne (mn t) cargo annually. It may be recalled that operation at the port, located off Ganjam coast, was suspended in the last two years as the erstwhile seasonal minor port was being converted into a
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Bidding for stake sale in Mozambique field closes
Reports indicate that the bidding for the stake sale of Videocon and the US-based Anadarko Petroleum in a Mozambique gas field was closed recently. Both the companies intend to sell 10 percent stake each in the gas field and several international firms are learnt to have shown interest in the stake
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OVL buys Hess’ stake in oil field
ONGC Videsh acquired 2.72 percent stake in the Azeri, Chirag and Guneshli Fields and 2.36 percent stake in the associated BTC pipeline for $1 billion from Hess Corporation. Hess Corporation is a global independent energy company primarily engaged in the exploration and production of crude oil and natural gas
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Govt clears Rs 732.77 cr FDI proposals
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 6, 2013, the government cleared six proposals of Foreign Direct Investment (FDI) amounting to Rs 732.77 crore approximately. The proposal includes the plan of Navayuga Road Projects , Hyderabad to act as an investing company and to m
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NHB issues Rs 6.4 bn worth tax-free bonds
RV Verma, Chairman and Managing Director of National Housing Bank (NHB) issued tax-free bonds worth Rs 644 crore NHB was authorized to raise Rs 5,000 crore through tax free bonds during 2012-13. It had room to mobilise upto Rs 3,750 crore through the recently concluded public issue. Verma informed that the company could have mopped up more funds through this route had it not been
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External debt expands 8.9% between March and December 2012
A government statement showed that the country's total external debt rose $30.8 billion or 8.9 percent to $376.3 billion as of December 31, 2012 from $345.5 billion at end-March 2012. The rise in the external debt is attributed to long-term and short-term components of debt. While trade related credits increased short-term debt of the country, long-term debt rose mainly on account of NRI deposits and c
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Strategic sale route to have key implications in PE industry
Some experts feel that the private transaction or strategic sale route for the exit of private equity (PE) investors will have important implication in the PE industry. It is transforming the very nature of private equity business in India, reports suggest. PE investors can exit their investment in an unlisted company through several routes, the prominent among them being the Initial Public Offering (IPO) route and the priva