Andhra Pradesh Chief Minister wants union oil ministry to take immediate steps to ensure sufficient natural gas supply to the state and help overcome the power shortage. The chief minister requested Prime Minister Manmohan Singh to direct oil ministry to boost gas supply for the state. He made this request when he met the Prime
Category: Oil & Gas
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Morgan Stanley upgrades ratings on oil firms
Following the centre's move towards deregulating diesel prices, financial services firm Morgan Stanley upgraded the ratings on Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum (HPCL) to 'overweight' from 'equalweight'. On January 17, the central government allowed state-owned oil firms to raise prices in small measures every mon
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States’ plea to Centre to up coal, gas supplies
State governments have on February 5 requested Union Minister of State for Power (Independent Charge) Jyotiraditya Scindia to take up the issue of inadequate coal supply with the Prime Minister and seek his early intervention. At the 6th Conference of Power Ministers of States and Union Territories in Delhi, power minister of the States expressed concern over fuel uncertainty affecting the power sector.
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States’ plea to Centre to up coal, gas supplies
State governments have on February 5 requested Union Minister of State for Power (Independent Charge) Jyotiraditya Scindia to take up the issue of inadequate coal supply with the Prime Minister and seek his early intervention. At the 6th Conference of Power Ministers of States and Union Territories in Delhi, power minister of the States expressed concern over fuel uncertainty affecting the power sector.
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Petrofed warns against shifting to export parity pricing
The Petroleum Federation of India (Petrofed), an apex body of entities in hydrocarbon sector, warned the union finance ministry against its proposed norm for calculation of under-recoveries of state-run oil marketing companies (OMCs). Recently, the finance ministry proposed that the export parity price should be considered for calculating under-recoveries of OMCs instead of the present trade parit
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Indian delegation may sign deal with French firm
An Indian delegation led by Petroleum Ministry M Veerappa Moily to the US would discuss and sign the proposed memorandum of understanding (MoU) between GAIL India and FranceÂ’s EDF, reports suggest. GAIL wants to rope in the French firm in order to facilitate gas trading and sourcing in the US. Going forward, GAIL wants the partnership to acquire shale gas ass
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Minister to decide on extending deadline for subsidy scheme
Andhra Pradesh Civil Supplies Minister D Sridhar Babu informed that the Union Oil and Gas Minister Veerappa Moily may take a decision on the extension of the deadline for beginning Adhaar-linked subsidy transfer scheme for LPG cylinders. It may be recalled that oil marketing companies (OMCs) set February 15 as the deadline for providing LPG cylinders on s
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Joint venture of OIL, OVL to bid for Videocon’s stake
A joint venture of Oil India (OIL) and ONGC Videsh (OVL) is in race for the 10 per cent stake of Videocon Energy Ventures in MozambiqueÂ’s Rovuma gas basin. The joint venture firm would compete with energy firms like ExxonMobil, PTT Exploration and Production Public Company, Shell, BP, and China's Sinopec for the stak
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32 oil and gas blocks get conditional nod
Reports indicate that 32 oil and gas blocks received conditional clearance from the defence ministry. The defence ministry has sought a realignment for five of these blocks, which are part of the Krishna Godavari basin, as they overlap with existing notified IAF range areas
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32 oil and gas blocks get conditional nod
Reports indicate that 32 oil and gas blocks received conditional clearance from the defence ministry. The defence ministry has sought a realignment for five of these blocks, which are part of the Krishna Godavari basin, as they overlap with existing notified IAF range areas