In a move that may boost oil and gas output in the country, the union petroleum ministry decided to allow exploration in mining lease area with cost recovery on establishment of commerciality, the ministry said in an order. Thus, oil companies would be allowed to explore in already producing areas and all approved exploration cos
Category: Oil & Gas
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Contractors allowed to explore in mining lease
In a move that may boost oil and gas output in the country, the union petroleum ministry decided to allow exploration in mining lease area with cost recovery on establishment of commerciality, the ministry said in an order. Thus, oil companies would be allowed to explore in already producing areas and all approved exploration cos
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ONGC plans to raise gas output from Tripura
State-run oil explorer ONGC is keen to raise natural gas output from onshore fields in Tripura in order to feed its upcoming 726.6 mw power plant and also to supply its customers. The country's biggest oil and gas explorer plans to raise its output from the fields to 5 million metric standard cubic metre per day (mmscmd). This would be pea
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ONGC plans to raise gas output from Tripura
State-run oil explorer ONGC is keen to raise natural gas output from onshore fields in Tripura in order to feed its upcoming 726.6 mw power plant and also to supply its customers. The country's biggest oil and gas explorer plans to raise its output from the fields to 5 million metric standard cubic metre per day (mmscmd). This would be pea
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RIL may sell stake in hydrocarbon block
Directorate-General of Hydrocarbons (DGH) received a request from Reliance Industries (RIL) to allow it to transfer its equity in a hydrocarbon block offshore Gujarat-Saurashtra region to Hardy Oil & Gas. This shallow water block -GS-OSN-2000/1- was awarded to the consortium of RIL (90 per cent) and Hard
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RIL may sell stake in hydrocarbon block
Directorate-General of Hydrocarbons (DGH) received a request from Reliance Industries (RIL) to allow it to transfer its equity in a hydrocarbon block offshore Gujarat-Saurashtra region to Hardy Oil & Gas. This shallow water block -GS-OSN-2000/1- was awarded to the consortium of RIL (90 per cent) and Hard
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Govt to remove diesel under-pricing by mid-2015
The present under pricing of diesel will be removed progressively by mid-2015," Planning Commission Deputy Chairman Montek Singh Ahluwalia said in his address at India Energy Congress recently. Recently, oil marketing companies (OMCs) were allowed to charge market price for bulk diesel consumers. Also, for retail users of diesel, the gove
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GAIL India’s pipeline project faces hurdle
State-run natural gas transmission firm GAIL India is in the process of laying 42 km underground gas pipeline in Tirupur district of Tamil Nadu. However, the project faces roadblock as farmers in the area oppose the work on grounds that they may lose their livelihood.
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Ministry agrees to release Rs 250 bn to state-run OMCs
Government agreed to release Rs 25,000 crore as compensation to state-run oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum-for selling diesel, cooking gas (LPG) and kerosene at subsidised prices. The finance ministry gave a comfort letter to the OMCs intimating its plan to release the amount. How
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ONGC lines up 44 mega projects for 2012-17
Sudhir Vasudeva, Chairman and Managing Director of ONGC informed that the state-run oil and gas explorer would execute 44 mega projects worth about Rs 86,862 crore between 2012-17. Of these projects, 16 would be on-land projects and 28 offshore. Most of the projects are lump-sum turnkey contracts (LSTK)