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
Category: Oil & Gas
Post
Post
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
Post
Govt to make public bidding norms for CGD projects
S Krishnan, Chairman of Petroleum and Natural Gas Regulatory Board (PNGRB) informed that the government would make public the fresh guidelines on bidding for the city gas distribution networks in the country for public feedback in 12 weeks. Krishnan informed this on the sidelines of a seminar on natural gas. He also said that the board would then issue the f
Post
Multiple pricing discourages private investment
Experts argue that the multiplicity of price points in the natural gas and petroleum sector in the country discouraged private investment.Multiplicity of price points has created market distortions in sectors such as city gas distribution, as it led to considerable differences in prices for end-consumers. There are multiple price points, depending on the source and
Post
Rise in world oil prices dents margin of OMCs
Owing to the recent rise in the international petrol price and depreciation of rupee, the marketing margin of Oil marketing companies (OMCs) on every litre of petrol declined considerably. During the second fortnight of November, the average international price rose to $118.64 a barrel from $113.74 a barrel in the first fortnight. The dollar-rupee exchange has
Post
Govt may offload 10% stake in Oil India by Jan 15
The 10 percent stake sale in Oil India, through which the government aims to garner Rs 2,500 crore, may be completed by January 15, reports suggest.
It is learnt that there is consensus between finance and oil ministries on the stake sale date. The oil ministry had earlier expressed reservations over bringing issues of oil sector companies "in a hurry", saying at least two offers for s
Post
Contractual opportunities with Oil India
Oil India continues to be the second largest national oil and gas company in the country in terms of total proved plus probable oil and natural gas reserves and production for the year 2011-12, SK Srivastava, the company's Chairman and Managing Director said.
Post
Contractual opportunities with Oil India
Oil India continues to be the second largest national oil and gas company in the country in terms of total proved plus probable oil and natural gas reserves and production for the year 2011-12, SK Srivastava, the company's Chairman and Managing Director said.
Post
Opportunities in transportation of LPG
Liquefied Petroleum Gas (LPG) is a mixture of commercial butane and commercial propane having saturated and unsaturated hydrocarbons. It is gaseous at normal atmospheric pressure, but may be condensed to the liquid state at normal temperature, by the application of moderate pressures. Although they are normally used as gases, they are stored and transported as liquids under pressure for convenience and ease of handling.
Post
Opportunities in transportation of LPG
Liquefied Petroleum Gas (LPG) is a mixture of commercial butane and commercial propane having saturated and unsaturated hydrocarbons. It is gaseous at normal atmospheric pressure, but may be condensed to the liquid state at normal temperature, by the application of moderate pressures. Although they are normally used as gases, they are stored and transported as liquids under pressure for convenience and ease of handling.