Cairn India Ltd is planning to double gas output from its Barmer basin in Rajasthan by the end of the current fiscal. The company has estimated its Rajasthan gas reserves at one trillion cu ft (tcf).
Category: Oil & Gas
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BSNL-MTNL in pact with ONGC
BSNL and MTNL have inked a five-year pact with ONGC to provide all telecom services to the state-owned oil firm on a pan-India basis.
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PNGRB extends date for CGD bidding
PNGRB has once again extended the bid deadline for licences to retail CNG and piped cooking gas in 14 cities, by one month to 11 August. Bid for the latest round of city gas distribution (CGD)
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New Director (Refineries)at IOC
Sanjiv Singh took over as the Director (Refineries) of Indian Oil Corp (IOC). He was Executive Director in-charge of IOC's Rs 30,000 crore Paradip refinery. Prior to that he was head of IOC's most modern refinery of at Panipat.
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RIL, BP to invest Rs 800 cr in Tamil Nadu
RIL, along with its partner British Petroleum, plans to invest about Rs 800 crore to carry out exploratory drilling in an offshore block in the Bay of Bengal.
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NOCL to commission Cuddalore refinery by 2015-end
Nagarjuna Oil Corporation Ltd (NOCL) plans to commission the first phase of its
Rs 25,000 crore Cuddalore refinery in Tamil Nadu by end of 2015, its Managing Director & CEO, S Ramasundaram said. NOCL is setting up a 6 million tonne-a-year oil refinery at Cuddalore in phase-I with a similar capacity unit planned in the second phase.
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IOC to raise $900 million overseas debt
Indian Oil Corporation will raise $1.65 billion debt in overseas market in the current financial year. The company will raise $900 million through external commercial borrowings to replace short-term costlier loan while another $750 million will be raised over the financial year, its Director Finance, PK Goyal said.
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ONGC seeks BCGs help
ONGC has roped in Boston Consulting Group (BCG) to help keep tight control over timelines and costs for its KG Basin field. ONGC hopes that BCG´s ´stage-gate´ process, which divides project work into sequential elements with fixed responsibilities will help the company get KG-DWN-98/2 into production in quick time.
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RIL plans to raise Rs 10,000 cr in debt
Reliance Industries Ltd (RIL) plans to raise up to Rs 10,000 crore in debt this fiscal to part fund its $26 billion investment plan. RIL has sought shareholder nod to raise funds through non-convertible debenture in one or more tranches. RIL is expanding its existing petrochemical plants.
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L&T breaks new ground in offshore engineering and construction
India's heavy and growing dependence on imported energy is putting financial strain on the economy. More than half of India's $191 billion trade deficit in the financial year 2012-13 was due to oil imports,