To restore investors' confidence in oil and gas sector Union Petroleum Minister Veerappa Moily will meet investment bankers and top industry executives in Mumbai next week. The meet has been schedule before launching the tenth bidding round of exploration blocks.
Author: admin (Infratructure Today)
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ONGC Videsh gets 6 oil, gas blocks in Vietnam
ONGC Videsh has been offered five offshore oil and gas exploration areas by Vietnam in South China Sea. The exploration areas are in Kossor block in Uzbekistan and exploration bid has been given without bidding, ONGC said on November 21.
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Zydex looks to build 20,000 km green roads in 3-yrs
In India, Zydex Technologies is looking to build up to 20,000 km of moisture-resistant green roads by 2016 using its nanotechnology. Such roads need no maintenance for about 15 years. The company has already completed about 500 km of roads in India with Border Roads Organisation and other agencies, Zydex Industries said.
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DBS Bank to up its India presence with 50 branches
In the next three years, Singapore-headquartered DBS Bank has plans to open 50 branches in India. DBS Bank wants to benefit from India's new policy for foreign lenders. The Asia-focused bank currently offers wealth management and deposit products in India.
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RBI gets $22.7 bn via special swap window
India's central bank, Reserve Bank of India has received $22.7 billion till date under its special concessional window to encourage banks to bring in dollars through non-resident Indian deposits and overseas borrowings. Through this window, the RBI wants banks to bring in safe money to fund the IndiaĂâs current account deficit.
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India launches Bharatiya Mahila Bank for women
IndiaĂâs first all-women bank, Bharatiya Mahila Bank was inaugurated by Prime Minister Manmohan Singh and UPA Chairperson, Sonia Gandhi Jointly in Mumbai on November 19, on the occasion of birth anniversary of former Prime Minister Indira Gandhi.
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ONGC’s gas gathering station inaugurated in Assam
The Group Gathering Station, Assam Renewal Project, of the public-sector Oil and Natural Gas Corporation in Assam was inaugurated by the Union Minister of Petroleum and Natural Gas M Veerappa Moily on November 18. Hyderabad-based Megha Engineering & Infrastructure (MEIL) is the lead partner of the consortium which executed the project.
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Mahanagar Gas mulls Rs 1,000 cr IPO next year
Mahanagar Gas, which supplies natural gas to Mumbai, is mulling an initial public offer (IPO) worth around Rs 1,000 crore. For giving a mandate for the public offer, the company expects a valuation of over Rs 6,000 crore and is in talks with banks.
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India to become energy self-sufficient by 2030: Moily
Union Minister of Petroleum and Natural Gas M Veerappa Moily has said that achieving energy self-sufficiency is an important step towards securing true 'economic freedom.'
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GAIL’s Singapore arm to get 1 mt US LNG
GAIL (India) has allocated one million tonne a year of liquefied natural gas (LNG) sourced from the US to its subsidiary GAIL Global (Singapore) Pte in Singapore, which is a subsidiary of GAIL India in Singapore.