According to company sources, Oil India (OIL) has appointed a consultant to prepare report on its proposed
2.5-million tonne (mn t) liquefied natural gas (LNG) receiving terminal in the country. Geneva-based Foster Wheeler AG is said to be the firm that bagged the consultancy contract for the project, which marks OIL's foray into imported gas. With the proposed LNG terminal, the company will join
Category: Oil & Gas
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Oil India appoints consultant for 2.5 mn t LNG project
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HPCL seeks assured oil supply for proposed refinery
Hindustan Petroleum Corp (HPCL), which proposed to set up a 9 million tonne a year refinery at Barmer in Rajasthan, has asked the oil ministry to give firm allocation of crude oil from Cairn India's oilfields in the state.
The company has reportedly told the oil ministry that
its p
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J&K govt reviews progress of pipeline project
Jammu and Kashmir Chief Minister Omar Abdullah
reviewed the status of progress of the proposed 328 km Bhatinda-Jammu-Srinagar Gas Pipeline Project at a meeting of high level officers and emphasised on early start of work. During the meeting, the chief minister received appraisal of the roadmap prepared to start the work on the proje
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DGH insists on separate testing at discoveries
Reports suggest that two months ago Reliance Industries (RIL) and its partner BP proposed to do a single Drill-Stem Test (DST) on their three finds -D-29, 30 and 31 at KG basin- to establish them as commercially viable finds. However, it is learnt that the Directorate General of Hydrocarbons (DGH) rejected the proposal as it feels that
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RIL, BP secure oil supply tenders from Egypt
Reliance Industries (RIL) and its British partner BP secured large crude oil supply tenders from Egypt for 2013. Reports suggest that RIL secured the bulk (18 cargoes) on offer from EgyptÂ’s Ras Gharib terminal, winning around 1.5 million tonne of the heavy crude. BP managed to get 15 cargoes in 2013, amounting to 1.2 million
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RIL to conduct maintenance of Jamnagar unit
Reports indicate that Reliance Industries (RIL) planned to conduct maintenance operation at its newer 580,000 barrels-per-day (bpd) Jamnagar refining complex in January. Consequently, the company plans to close its crude distillation unit and a secondary unit temporarily. The company is planning to shut a 13.5 metric tonne per annum (270
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Eni waives pre-emption rights in favour of OVL
In a move that reduces the hurdle for ONGC Videsh's $5 billion bid to acquire ConocoPhillips' stake in Kashagan oilfield of Kazakhstan, one of the field operator Eni has publicly stated that it will not pre-empt or block the acquisition.
Italy's Eni is the operator of the first phase of the Kashagan oilfield that is due to start production in second quarter
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OVL plans to exit South China Sea block
According to source-based information, ONGC Videsh plans to exit the hydrocarbon block offered by Vietnam to it in the maritime region of South China Sea as it found that the bed of the block was very difficult. ONGC Videsh, the overseas arm of ONGC, feels that the cost of operating the block is higher than the benefits and so it is not conducting operation there. However, Viet
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Indonesian firm buys stake from RIL
PT Medco Energi Internasional of Indonesia bought the entire stake of Reliance Industries (RIL) in an exploration block in Yemen for about $90 million closing the deal which was announced in January. With this deal, Medco Energi will effectively have 21.25 percent participating interest (after taking into account a proportionate carried share of Yemen Oil and Gas Corp
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State-owned OMCs asked not to invest on petrol pumps
According to a government order, which was approved by the Oil Minister M Veerappa Moily, henceforth state-owned oil marketing companies (OMCs) will not invest in opening of new retail outlets and the investment is to be made by prospective dealers only. The order further states that the state-owned OMCs can set up petrol pumps only when the dealer is willing bear the Rs 1-1.5 crore cost of a