Cairn India reported a quarterly loss of Rs.10,948 crore for the March quarter, primarily led by impairment loss on goodwill and non-producing oil and gas assets due to a drop in oil prices.
Category: Oil & Gas
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ONGC to invest $5 bln in KG Basin
State-run Oil and Natural Gas Corporation (ONGC) has unveiled a Rs.34,000 crore ($5 billion) long-delayed investment plan to develop its KG Basin fields. This will help boost ONGC's oil and gas output by a fifth in about four years.
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Panel to review Odisha-IOC pact
The Odisha Government said a committee has been set up under the Chairmanship of the Secretary of Petroleum and Natural Gas Ministry to review its agreement with Indian Oil Corporation.
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Strategic petroleum caverns to be ready by May
The Indian Strategic Petroleum Reserve Ltd (ISPRL) will complete construction of the caverns in Mangaluru and Padur by March and May 2016 respectively.
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GAIL, IOL team to visit Iran in March for gas pipeline
The long proposed $4.5 mln undersea gas pipeline between Iran and India is likely to get some momentum.
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India´s oil demand to be highest: IEA
According to the IEA´s World Energy Outlook-2015 report, India´s oil demand is projected to grow by 6 mln barrels per day (mb/d) from 3.8 mb/d in 2014 to 9.8 mb/d by 2040.
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Govt refiners join forces for oil deals
Government refiners are jointly negotiating oil purchase deals with OPEC producers as the world´s third biggest consumer seizes on low prices to wrest better terms.
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ONGC gets green panel nod in Tripura
The Centre´s green panel has given approval to ONGC for developing 30 wells and other infrastructure in Tripura, with investment of Rs.758 crore.
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Is the Project Plan Just a Pretty Picture on a Wall?
Even though the pressure to deliver projects on time is intensifying, most players within the oil & gas, utilities, construction and contracting industries still seem reluctant to integrate the project plan with the other systems and functions in the business.
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Punj Lloyd wins orders worth Rs.2,070 cr in Oman
Engineering, procurement and construction (EPC) major Punj Lloyd won orders worth Rs.2,070 crore in the oil & gas sector from Oman Oil Refineries and Petroleum Industries Company (ORPIC) and Oman Gas Company (OGC) earlier in February.