The government has highlighted Oil & Gas (O&G) as a priority sector as part of its ‘Make in India’ campaign. The focus in O&G will be on Oil Field Services and Equipment (OFS). An interesting model could be Malaysia and Dubai kind of service hubs on the east coast and west coast of the country.
Category: Oil & Gas
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India to commission 5-mt underground oil storages
India has decided to commission over 5 million tonnes (mt) of underground crude oil storages by October to ensure uninterrupted oil supply to the nation for about two months in the case of disruptions in imports from oil producing countries due to geopolitical reasons.
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RIL, BP to invest Rs.6,000 cr to improve gas recovery
Reliance Industries and its partner BP plc of UK will invest about Rs 6,000 crore by 2016 to help sustain and improve recovery from the two main gas fields in the eastern offshore KG-D6 block.
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GAIL to supply feedstock
Gail India Limited has clarified there was no plan to shut down its LPG recovery plant at Lakwa in Assam but would convert it to supply feedstock for the petrochemical unit of Brahmaputra Cracker and Polymer Limited (BCPL) being set up at Lepetkata in Dibrugarh district.
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Reliance beats IOC in race to supply diesel to Railways
Public sector oil retailer Indian Oil Corporation has lost to Reliance Industries Ltd the contract for supplying diesel to the Indian Railways.
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Global gas prices converge
Global benchmark prices for natural gas have converged to their closest in five years, a trajectory created by a supply glut and an oil rout. That spells trouble for US and Australian projects coming online this year.
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L&T wins Saudi Aramco order
L&T Construction, through its fully owned subsidiary L&T Saudi Arabia LLC, has bagged an engineering, procurement and construction order from the Saudi Arabian Oil Company (Saudi Aramco).
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Govt gives green nod to 190 projects worth Rs.6.31 lakh cr
Environmental clearance has been given to 190 projects, entailing an investment of Rs 6.31 lakh crore across sectors like mining and steel during June-December as part of the National Democratic Alliance (NDA) government´s policy to fast-track industrial development and generates jobs.
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Government clears 30 oil & gas discoveries
Ending months of logjam over discoveries mired in contractual disputes, the government has cleared 30 projects of firms like Cairn India and ONGC to help monetise about 2.6 trillion cubic feet of gas reserves.
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Government to auction 69 small, marginal oil fields
The government plans to auction 69 small and marginal oil and gas fields to private firms on a new revenue sharing model, oil minister Dharmendra Pradhan has said.