The government, at end September, cut natural gas prices by 16 per cent to $4.24 per unit for the six month period, beginning October 1. The price cut is the second reduction in rates ever, the first being on April 1.
Category: Oil & Gas
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Refiners to pay 1st tranche of $700 mn to Iran
India is to pay Iran $700 million to clear one-tenth of oil dues in the last week of September, the first payment this year ahead of easing of international sanctions against the Persian Gulf country.
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LNG terminal on the back burner
Two years after Oil and Natural Gas Corporation (ONGC), with its consortium partners Bharat Petroleum Corporation Limited (BPCL) and Japanese conglomerate Mitsui, signed a memorandum of understanding (MoU) to set up a regasification liquefied natural gas (LNG) terminal at New Mangalore Port, the project is again on the back burner.
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Highest loading of crude oil at JNPT
The highest loading of crude oil in the current financial year was achieved on September 21, in the vessel MT Abul Kalam Azad belonging to Shipping Corporation
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License fee for services increased
The government has revised the rates for various services extended at the minor and intermediate ports in the state of Andhra Pradesh.
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ONGC identifies six projects to propel next growth phase
IndiaĆĀ“s biggest oil and gas explorer, Oil and Natural Gas Corporation, has identified six major field development projects with an investment of Rs 241,881 million (Rs 24,000 crore), in addition to its flagship development project in the Krishna-Godavari (KG) basin, to power the next phase of its growth.
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Ready? Fire! Aim!
As project managers rush headlong into implementation without planning and carrying out pre-project activities, itĆĀ“s a case of putting the cart before the horse. No wonder catastrophic delays and bungled projects are the order of the day.
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ONGC to invest $8.8 bn in KG basin
State-owned Oil and Natural Gas Corp (ONGC) plans to invest over USD 8.8 billion
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HPCL investing in clean fuel projects
HPCL, a Navratna company, is making huge investments in clean fuel projects to meet the Bharat Stage-III & BS-IV fuel specifications to reduce vehicular pollution.
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Need of shale gas policy in India
India needs a long-term shale gas policy that is holistic and incorporates from the experiences of other countries on issues like gas pricing