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.
Category: Oil & Gas
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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,
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CBM producers to bring down price
The Ministry of Petroleum and Natural Gas has decided to go for a uniform gas price for all the gas producers in India once the new pricing under Rangarajan formulae comes into effect post elections.
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India in to develop Kazakh oil block
India is in talks with Kazakhstan for developing Abai oil block in the Caspian Sea. According to reports, Magzum Mirzagaliev, Vice-Minister, Oil and Gas, Kazakhstan, has offered the Abai block to ONGC Videsh (OVL)
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RIL, HMEL plan refinery expansions
Reliance Industries (RIL) and HPCL-Mittal Energy Ltd (HMEL) have sought environment ministry approval for raising capacity of their plants. RIL, whose two plants at Jamnagar has installed capacity to process about 1.2 million barrels per day (bpd) oil, has the
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New govt to decide on gas price
The new government will have to decide on the new price for domestically produced gas, even though the decision to defer the announcement of rates is only till the model code of conduct for ongoing elections is in force
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PPT sets new record
The Paradip Port Trust (PPT) set a new record in crude oil cargo discharging. MT Spartan Warrior, a crude oil tanker, discharged 1.96 lakh metric tonne of crude oil at the Single Point Mooring (SPM)-2 in less than 24 hours surpassing the previous record of
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American gas exports to India will be competitive
The US India Political Action Committee (USINPAC) is a bipartisan organisation working through economic diplomacy to impact policies concerning the Indian-American community in the US. Robinder Sachdev, Director of India Affairs, USIPNAC, speaks to Devarajan Mahadevan on the latest issues that the entity is trying to resolve between the two countries.