Bharat Petroleum and Hindustan Petroleum will lose a whopping Rs 177,562 crore on selling fuel at government-controlled rates this fiscal, 68 per cent more than what they lost in high-cost 2008-09.
Category: Oil & Gas
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RIL finds gas, condensate
Reliance Industries (RIL) announced a gas and condensate discovery in the deepwater Cauvery-Palar basin.
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Decline in PMT output
Gas output from the Panna-Mukta and Tapti (PMT) fields has declined by around 30 per cent, putting more pressure on supplies after a fall in Reliance’s production from the D-6 field.
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More oil from Ravva
Cairn India has increased its production from offshore Ravva oil field by 16,000 barrels of oil per day (bopd), according to a company official.
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ONGC to rethink CBM strategy
ONGC is considering fresh strategies for coal bed methane (CBM) development, nearly two decades after initiating exploration and spending hundreds of crores in largely unsuccessful attempts to bring the assets into production.
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ONGC FPO in July
Twice-deferred ONGC’s Rs 11,500 crore follow-on public offer (FPO) is now been scheduled to open 5July.
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More gas for AP
NTPC and Reliance Industries (RIL) will soon enter into a complex deal to ensure supply of more gas to Andhra Pradesh’s power projects.
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Low gas output hits supply
Consumers of natural gas from Reliance Industries’ D6 field are facing a pro-rata cut as production has declined to 50.5 mmscmd (million standard cubic meter per day) due to some technical problems in the KG-D6 block.
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Diesel purchase: IOC vs Japan
Indian Oil Corp (IOC) failed to award a tender to buy 120,000 tonnes of diesel for 1-3 April delivery as traders, expecting higher offers from quake-hit Japan, did not submit price bids.
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Cairn-Vedanta deal in ONGC's court
The government’s law officers have held that Edinburgh-based firm needs ONGC’s consent to sell its majority stake in Cairn India to Vedanta Resources.