Media reports suggest that Indraprastha Gas (IGL) provided 87,000 piped natural gas (PNG) connections in the national capital region (NCR) during 2011-12. Of this, nearly 55,000 were in Delhi. It is the largest number of connections IGL provided in a year, reports quoted a spokesperson of the firm as saying. IGL, which distributes natural gas in the city, started operations in 1999 but has only around three lakh
Category: Oil & Gas
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Oil ministry prefers amicable settlement of dispute
According to media reports, the union petroleum ministry prefers to weed out contentious issues with Reliance Industries (RIL) through negotiations rather than through legal means. It may be recalled that both the ministry and the company are locked in a dispute over recovering cost of developing KG-D6 basin from the revenue. RIL resorted to ar
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OVL finds oil in Colombia block
ONGC Videsh (OVL), which has 70 per cent participating interest in an onshore oil block at llanos basin of Colombia, said it discovered oil in the block. The firm secured the block in the 2008 bidding round in Colombia with 100 per cent participating interest. Later in 2010, OVL divested the 30 per cent participating interest to Petrodorado
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OMCs allowed to revise diesel prices marginally
At a recent Cabinet committee meeting, the central government allowed oil marketing companies (OMCs) to revise diesel prices "by a small quantity" to reflect demand-supply condition in the market. Petroleum Minister Veerappa Moily told reporters after the meeting of the Cabinet Committee on Political Affai
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Adani Gas depends on imported natural gas
Reports suggest that compressed natural gas (CNG) is costlier in Ahmedabad than in Delhi, Mumbai, Pune because Adani Gas, which distributes gas in Ahmedabad, is entirely dependent on imported gas. The company has to depend on imported gas because it does not have access to domestically produced gas, while companies in Delhi, Mumbai and the othe
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OMCs raise diesel price by 45 paise
In an official statement, Indian Oil said state-run oil marketing companies (OMCs) raised the price of diesel by 45 paise excluding taxes with immediate effect. It may be noted that the government allowed these firms to revise diesel prices in small quantities periodically to reflect market realities
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Consumers to get 3 more subsidised LPG a year
Union government raised the cap on subsidised cooking gas cylinder per household per year to nine from the previously fixed six. The new cap would be applicable from the financial year beginning April 1, 2013. Between September 2012 and March 2013, household will get a quota of five subsidised cylinders, Oil Minister M Veerappa Moily told reporters after the mee
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Private OMCs want complete de-regulation of diesel pricing
Oil Marketing Companies (OMCs) in the private sector have welcomed the decision of the government to allow state-run OMCs to revise diesel prices. However, they want complete de-regulation of diesel pricing in the country. They feel that the decision to allow state-run OMCs to revise diesel price is a token mea
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Cairn India awaits nod for exploration
The management committee that overseas the production of crude oil by Cairn India in the Rajasthan oilfields is expected to meet soon. Cairn India is awaiting the approval of the committee for exploration in the delineated area in the Rajasthan oil field so that it could raise oil production. Once approved, the company would be able to raise prod
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Board of Petronet clears Rs 50 bn terminal project
Petronet LNG, which proposes to set up a five million tonne per annum LNG terminal at Gangavaram, Andhra Pradesh at a cost of about Rs 5,000 crore, received final approval from its board for the investment. The firm, which expects to complete the project by end-2016, has finished several pre-project activities and it is working towards short-listing of potential cont