The foreign investment arm of India´s top oil explorer ONGC is targeting $10-$12 billion of oil and gas asset purchases over the next three years, including more corporate acquisitions, its managing director said.
Category: Oil & Gas
Post
Post
Petronet LNG contract to be reviewed
Petronet LNG, India´s leading gas importer, is in discussions with Qatar´s RasGas to tweak a decade-old liquefied natural gas (LNG) procurement deal. The Indian firm has been forced to cut down gas volumes from Qatar after the price of fuel bought through this long-term contract has become almost double the spot prices.
Post
No headway in pipeline project
The ambitious Rs.10,000 cr gas pipeline project to Kashmir is caught in bureaucratic wrangles for the past three years as a proposed MoU between the state government and GSPL India Gasnet Limited (GIGL) Gujarat- the executing agency for the plan- is yet to be signed.
Post
LNG more viable than coal
India is already among the world´s largest energy consumers. Urbanisation, industrialisation, and the government´s commitment to 24 x7 energy access for all imply that our need for power will continue to grow.
Post
IOC sells rare Kandla cargo
Indian Oil Corporation has sold 18,000-20,000 tonnes of naphtha for Oct 29 to Nov 3 loading from Kandla after cancelling a previous tender for the same cargo due to low bids, traders said.
Post
New gas-based plant at Yelahanka to start in 2018
Next time the thermal power plants in Udupi and Ballari stop production owing to technical problems, Bengaluru may not have to face power cuts. It´ll be in a more comfortable position once production begins in 2018 at the 350-MW gas-based power plant coming up in Yelahanka.
Post
Foreign fleet owners may gain
An Indian cabinet decision to decentralise shipping arrangements for import of cargo owned or controlled by government departments and state-owned firms will remove an assured business opportunity for local fleet owners.
Post
ONGC tender flooded with offers
State-run Oil and Natural Gas Corp (ONGC) has been swamped with offers in a tender it floated for hiring five deep sea rigs for its KG-basin gas block campaign.
Post
IndianOil targets full automation
IndianOil is on a programme to ensure all its outlets in the country are fully automated in five years. IOC has about 25,000 petrol pumps of which 8,800 are automated. Declaring its 53 petrol pumps in Coimbatore
Post
MSRTC files pliant against HPCL, BPCL, IOC
The Maharastra State Road Transport Corporation (MSRTC) has complained to state Legal Metrology Department (LMD), accusing HPCL, BPCL and IOC of ´short delivery´. Chief Vigilance Officer (CVO) of MSRTC Vineet Agrawal said a complaint was lodged with LMD on September 19.