Petronet LNG aims to spend up to $3 billion in the next five years to expand overseas, setting up terminals in Sri Lanka and Bangladesh among other countries. Falling spot LNG prices have boosted consumption of the fuel in India and triggered demand for LNG infrastructure in countries long shut out of the gas trade.
Category: Oil & Gas
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ONGC seeks buyers for deep-water field in KG Basin
Oil and Natural Gas Corporation (ONGC) is seeking buyers for gas from a new deepwater field in the KG Basin, which will be the first to supply under the new policy that allows companies to charge a much higher rate for output from challenging fields.
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GSPL signs GTA with RFCL
GSPL India Transco Ltd (GITL), a subsidiary of Gujarat State Petronet Ltd (GSPL), has signed a Gas Transportation Agreement (GTA) with Ramagundam Fertilizers & Chemicals Ltd (RFCL) to supply 2 MMSCMD of natural gas for a period of 20 years.
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ONGC, HPCL may sell stake in MRPL
State-owned ONGC and Hindustan Petroleum Corp Ltd (HPCL) may sell a part of their stake in Mangalore Refinery and Petrochemicals Ltd (MRPL) to comply with regulations on minimum public holding.
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India, US sign bilateral agreement for hydrocarbon
The Indian government has signed a three-point bilateral agreement with the US government aiming to harness new technologies in the hydrocarbon sector. The agreement was signed between Oil Minister Dharmendra Pradhan and US Secretary of Energy Dr Ernest Moniz in Washington.
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Tests at Kudankulam Unit II Completed
Tests at the second unit of the Kudankulam nuclear plant constructed with Russian participation have been completed.
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Lab testing facilities at NMPT
A NABL (National Accredited Board for testing and calibration Lab) certified Lab Testing Collection Centre for edible oil, chemicals and food grade items has been set up at New Mangalore Port Trust (NMPT), in line with the government´s policy on ´ease of doing business´.
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Panel begins work on preparing blueprint for refinery exports
An expert panel has begun work on drafting a blueprint for raising India´s oil refining capacity by 2040 with a view to not just meet demands of the fast expanding economy, but also to capture the export market. The 12-member Working Group for preparing an Approach Paper for enhancing refining capacity by 2040 held its first meeting on June 27, officials said.
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Petrol price cut by 89 paise per litre, diesel cheaper by 49 paise per litre
Petrol price was cut at the beginning of July by 89 paise a litre and diesel by 49 paise a litre, the first decrease in rates in two months. Petrol will cost Rs.64.76 a litre in Delhi as compared to Rs.65.65 per litre currently, Indian Oil Corp, the nation´s largest fuel retailer, announced. Similarly, diesel will cost Rs.54.70 per litre as against Rs.55.19 a litre.
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Ujjwala beneficiaries cautioned on scamsters
The Ministry of Petroleum and Natural Gas has appealed to the beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) not to be influenced by unscrupulous agencies in getting LPG connections.