ONGC´s CMD Sudhir Vasudeva is a man in demand even ministers would like him to stay awhile in his chair. In a freewheeling interview with Shashidhar Nanjundaiah, Vasudeva looks back in satisfaction at the accomplishments of his top-ranked PSU, and tells us what to expect.
Category: Oil & Gas
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Coal and Oil gets Rs.1,600 cr bank fund
To complete its 1,200 MW independent power plant (IPP), presently under construction in Tuticorin, Dubai-based Coal and Oil (C and O) Group has secured additional funding of approximately Rs 1,600 crore from Indian public sector banks including the State Bank of India. The power project, which is being developed at a cost of around Rs 6,800 crore is developed by Coastal Energen, the power generating flagship company of the Coal & Oil Group.
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Natural gas imports at 8.66 mmt
India imported 8.66 million metric tonne (mmt) of natural gas during April-November 2013 period of current fiscal at a cost of $4182.33 million. Also, India is pursuing Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project, to get natural gas supply from Turkmenistan via Afghanistan and Pakistan.
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Gujarat Gas in pact with GSPC
Gujarat Gas Co (GGCL) has executed a long-term gas supply contract with its parent Gujarat State Petroleum Corporation (GSPC) for the purchase of 0.65 million metric standard cubic metre per day (mmscmd) for next 12 years. Under the agreement, GSPC will supply imported re-gassified liquefied natural gas (R-LNG) to GGCL from 1 January 2014 up to 1 July 2025. The move is seen as a major relief for GGCL, as it will get assured gas supply for a long period.
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ONGC pays over Rs 2,900 cr for 2013-14
ONGC has paid 100 per cent interim dividend for the Year 2013-14. The Sudhir Vasudeva, CMD, ONGC handed over a cheque of Rs 2961,27,32,610 (Rupees two thousand nine hundred sixty one crore twenty seven lakh thirty two thousand six hundred and ten only) to the Petroleum Minister Marepadi Veerappa Moily in Delhi recently towards the Interim Dividend for 2013-14.
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ONGC pays over Rs 2,900 cr for 2013-14
ONGC has paid 100 per cent interim dividend for the Year 2013-14. The Sudhir Vasudeva, CMD, ONGC handed over a cheque of Rs 2961,27,32,610 (Rupees two thousand nine hundred sixty one crore twenty seven lakh thirty two thousand six hundred and ten only) to the Petroleum Minister Marepadi Veerappa Moily in Delhi recently towards the Interim Dividend for 2013-14.
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Chemoil Adani interested to develop bunkering facility
To develop a bunkering facility at Chennai port, Chemoil Adani, a joint venture between Chemoil and Adani, has expressed its keen interest. The Indian Oil Corporation is the only supplier of bunker – fuel oil used aboard ships – in Chennai. Mundra, Colombo and Kochi ports have developed bunkering facility. The Kandla port has also taken initiative to improve this facility, say media reports.
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Iran keen to sell more crude oil to India
Iran on December 4 sought India the resolution of payment issues over sale of crude oil. Iran is keen to sell more crude oil to India and promote trade between the two nations, said Iran's Industry Minister Mohammad Reza Nematzadeh in Bali at the ongoing WTO Ministerial Conference.
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Iran keen to sell more crude oil to India
Iran on December 4 sought India the resolution of payment issues over sale of crude oil. Iran is keen to sell more crude oil to India and promote trade between the two nations, said Iran's Industry Minister Mohammad Reza Nematzadeh in Bali at the ongoing WTO Ministerial Conference.
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CPSUs the cash machines
As the government prepares to divest PSUs and raise Rs 54,000 crore, it will simultaneously urge PSUs to invest in infrastructure projects. While this is a smart move to reinvigorate the stranded sector, the irony of public sector investment in private side of equity is not lost. While they stare at a disappointing year for PSUs on the stock exchanges, what has galvanised many of these mammoth organisations that have transformed these custodians of public money into vibrant, corporate and profit