Public sector oil retailer Indian Oil Corporation has lost to Reliance Industries Ltd the contract for supplying diesel to the Indian Railways.
Category: Oil & Gas
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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.
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India to discuss LNG imports with US
India will strongly raise the issue of LNG imports with President Barack Obama as the country wants liquefied natural gas to be exported only in vessels built in USA, manned by US crew and insured by American companies.
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IOC yet to start work on Rs.5,150-crore LNG project
State-owned Indian Oil Corp (IOC) has said that it is yet to commence work on a Rs 5,150 crore liquefied natural gas (LNG) import terminal at Ennore in Tamil Nadu.
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India to build up oil reserves
India will make a provision in the Budget to fill up strategic reserves for crude, taking advantage of the falling global oil prices.
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Open Sesame!
Public Sector Units (PSUs) will be pushing the growth engine of the country, be it through almost 18 lakh acres of land reserves with these companies or the cash reserves of almost Rs 2,00,230 crore kept as bank deposits by these enterprises.