The new natural gas price of $5.61, which is already among the lowest in Asia Pacific, is likely to drop to around $5 per unit in three years due to the variables included in the formula, Goldman Sachs has said.
Category: Oil & Gas
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ONGC makes 3 new oil & gas discoveries
Public sector major Oil and Natural Gas Corp (ONGC) has announced that there have been three new oil and gas discoveries in one each of the Krishna-Godavari Basin, Cauvery basin and Mumbai offshore, which allows an interim dividend of 100 per cent to its shareholders.
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HPCL opens pump at worldĂ´s highest motorable road
State-owned Hindustan Petroleum Corp Ltd ( HPCL ) has opened a petrol pump at the worldĂ´s highest motorable road in Leh to make available fuel to the remotest part of Jammu and Kashmir.
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Oil India signs contract for two oil blocks in Myanmar
Oil India Ltd, the second largest State explorer, has signed a contract for two offshore oil and gas blocks it had bagged in Myanmar. OIL along with its consortium partners signed a production sharing contract (PSC) with Myanmar Oil and Gas Enterprise (MOGE) for two offshore blocks M4 and YEB at Nay Pyi Taw, the company said in a statement.
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RIL makes Mexico foray
Reliance Industries Ltd (RIL) has signed an agreement with MexicoĂ´s State-owned Petroleos Mexicanos (Pemex) for investment in the exploration and refinery sectors in that country.
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Centre overrules GSPCĂ´s demand for $8.5 gas price
The Centre has overruled Gujarat government-owned firm GSPCĂ´s demand for a gas price of $8.5 for its KG basin Deendayal field, saying the approved rate of $5.05 will apply to the company.
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RSGL to develop retail gas supply
As part of its infrastructure development plans, Rajasthan State Gas LTD (RSGL) will lay pipelines for retail gas supply in Alwar, Baran and Jhalawar districts, according to an official.
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India, Mozambique ink MoU for oil, gas cooperation
India and Mozambique have signed a memorandum of understanding (MoU) for cooperation in the oil and gas sector for a period of five years, the Petroleum Ministry has said in a statement.
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ONGC Videsh might soon buy stake in 2 Siberian oilfields
ONGC Videsh Ltd (OVL), the foreign arm of ONGC, is likely to soon acquire stakes in two Russian oilfields, Vankor and Yurubcheno-Tokhomskoye.
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Technip bags -C100 mn ONGC order
Engineering and construction firm Technip, which specialises in subsea construction, has got a 100-million euro contract from Oil and Natural Gas Corporation (ONGC) to build an onshore oil and gas terminal in Andhra Pradesh.