Exploration and production segment in oil and gas sector holds tremendous business potential in India given the rising demand for crude oil and natural gas in the country. According to one estimate, oil consumption in the country may expand 4-5 percent per annum to 2015, indicating a demand of 4.01 million barrels per day by 2015 from the present level of around 3 mn barrels per day.
Author: admin (Infratructure Today)
Post
Post
Contract opportunities in LPG sector
According to a government report, India is the fourth largest consumer of liquid petroleum gas (LPG) in the world after USA, China and Japan and the consumption grows steadily at 8 percent per annum. It is the third largest consumer of LPG in domestic sector in the world after China and the USA. Domestic sector is the major market of LPG in the country.
Post
India to have world’s most extensive road network
India will soon have one of the world's most extensive National Highway networks through various phases of the National Highways Development Project. The projects were being financed largely through user fees from toll collection points on these improved highways, Union Minister of State for Road Transport and Highways Sarvey Sathyanarayana said in Coimbatore on January 8.
Post
Strong room planned for cargo at Surat airport
In Surat, the Airport Authority of India (AAI) plans to set up a strong room facility for valuable cargo like diamonds, gems and jewellery and gold at the city's airport. The diamantaires have been demanding international air connectivity and cargo handling facilities at Surat airport for the past few years.
Post
RBI takes steps to develop corp bond market
Reserve Bank of India (RBI) has taken two key steps to develop corporate bond market in the country. One among them is that these bonds are made eligible for repo (repurchase agreements) transactions in the money market. The repo deals can be struck on commercial pape
Post
J&K govt mulls ordinance to begin pipeline project
According to media reports, the Jammu and Kashmir government plans to introduce an ordinance for beginning work on the Bhatinda-Jammu-Srinagar gas pipeline project. It may be noted that the Gujarat State Petronet (GSPL), a subsidiary of Gujarat government, secured the
Post
BPCL set to begin work on refinery project
Bharat Petroleum Corporation (BPCL) is set to begin work on the Rs 14,000-crore integrated refinery expansion project at its Kochi facility. BPCL roped in LG Chemicals of South Korea as its joint venture partner for the petrochemicals complex, whic
Post
Report suggests HPCL may post losses in 2012-13
State-run oil marketing company (OMC) Hindustan Petroleum Corporation (HPCL) may report losses in the financial year 2012-13 owing to poor refining margins, forex losses and increasing interest costs, research firm Antique said recently. The company may be able to improve its realisation only if the government raises diesel, kerosene prices, repo
Post
India depends less on Iran for crude oil
Reports suggest that India's dependence on Iran for oil import has been declining from 13 percent some years ago. India imported 18.11 mn t oil from Iran, which is less than 21.20 mn t imports in 2009-10 and 18.50 mn t in 2010-11. During April-November 2012, the country imported 118
Post
Cabinet panel to decide on proposal to raise LPG cap
Media reports suggest that the Cabinet Committee on Economic Affairs would decide on the proposal of the oil ministry to raise the cap of the cap on supply of subsidised cooking gas (LPG) cylinders per household per year to nine. In September 2012, the government limited the subsi