India and Japan, two biggest buyers of liquefied natural gas (LNG), will in next three months look at buying the fuel jointly so as to hammer down high prices. The two nations had in October last year agreed to carry out a joint study to examine ways to mitigate increasing import costs in Asia as well as to maintain stable supplies of LNG to the region.
Category: Oil & Gas
Post
Post
Moily to meet investors in Mumbai this week
To restore investors' confidence in oil and gas sector Union Petroleum Minister Veerappa Moily will meet investment bankers and top industry executives in Mumbai next week. The meet has been schedule before launching the tenth bidding round of exploration blocks.
Post
ONGC Videsh gets 6 oil, gas blocks in Vietnam
ONGC Videsh has been offered five offshore oil and gas exploration areas by Vietnam in South China Sea. The exploration areas are in Kossor block in Uzbekistan and exploration bid has been given without bidding, ONGC said on November 21.
Post
ONGC’s gas gathering station inaugurated in Assam
The Group Gathering Station, Assam Renewal Project, of the public-sector Oil and Natural Gas Corporation in Assam was inaugurated by the Union Minister of Petroleum and Natural Gas M Veerappa Moily on November 18. Hyderabad-based Megha Engineering & Infrastructure (MEIL) is the lead partner of the consortium which executed the project.
Post
Mahanagar Gas mulls Rs 1,000 cr IPO next year
Mahanagar Gas, which supplies natural gas to Mumbai, is mulling an initial public offer (IPO) worth around Rs 1,000 crore. For giving a mandate for the public offer, the company expects a valuation of over Rs 6,000 crore and is in talks with banks.
Post
GAIL’s Singapore arm to get 1 mt US LNG
GAIL (India) has allocated one million tonne a year of liquefied natural gas (LNG) sourced from the US to its subsidiary GAIL Global (Singapore) Pte in Singapore, which is a subsidiary of GAIL India in Singapore.
Post
First oil storage facility to be commissioned in Jan
The Union government is to commission one of its three proposed strategic oil storage facilities in Visakhapatnam next January. This is going to be the country's first such crude oil storage facility. The other two crude oil storage centres are being built at Mangalore and Padur in Karnataka.
Post
Guidelines soon to ports for pollution mitigation
The Union government will soon issue guidelines to streamline the process of collection of oil cess which can be then used to assist ports to equip themselves for pollution mitigation, said the Union Minister of Shipping GK Vasan. Steps are also being taken to delegate powers to State Authorities for registration, survey and certification of fishing vessels.
Post
No hurry to shut forex facility for oil firms: RBI
The Reserve Bank of India (RBI) will not hurriedly close a special window for oil marketing companies (OMCs) to buy dollars for crude oil imports, said the RBI Governor Raghuram Rajan on November 13. The RBI is striving bring stability in the currency market.
Post
Govt plans to sell stake in IOC, CIL by year-end
To raise about $2.3 billion to boost public finances, the Union government has revived plans to sell stakes in two State-owned companies-Indian Oil Corp (IOC) and the Coal India.