The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of the Ministry of Petroleum and Natural Gas on the policy on exploration and exploitation of shale gas
Category: Oil & Gas
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Crude oil price comes down
The international crude oil price of Indian Basket fell to $106.42/per barrel (bbl) on September 24, says Petroleum Planning and Analysis Cell (PPAC) on September 25. This was lower than the price $107.47/bbl on the previous trading day of September 23, the PPAC said.
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BPCL to invest Rs 5k crore on gas transportation infra
State run oil marketing firm Bharat Petroleum Corporation (BPCL) is all set to make its footprints in creating gas transportation infrastructure pan India. The company is set aside Rs 4,000-5,000 crore to build the gas pipeline infrastructure over next 4-5 years
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Rs 37,230-cr refinery to develop Rajasthan economically: CM
Hindustan Petroleum Corporation's (HPCL) Rs 37,230-crore refinery-cum-petrochemical project at Pachpadra in Barmer of Rajasthan is said to help the state develop economically enormously. According to Rajasthan Chief Minister Ashok Gehlot, the project is expected to bring an overall investment of Rs 60,000-70,000 crore in the area.
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New auction policy okayed for coal, shale gas
For governing and auctioning of coal reserves and shale gas acreages in the future, the Union government has given its approval to bring in new allocation policies. This was decided by the Cabinet Committee on Economic Affairs (CCEA) on September 24. The CCEA approved a Coal Ministry's proposal for competitive bidding of blocks under production-linked revenue-sharing method and a Petroleum Ministry proposal for allocation of shale gas reserves on nomination basis.
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New auction policy okayed for coal, shale gas
For governing and auctioning of coal reserves and shale gas acreages in the future, the Union government has given its approval to bring in new allocation policies. This was decided by the Cabinet Committee on Economic Affairs (CCEA) on September 24. The CCEA approved a Coal Ministry's proposal for competitive bidding of blocks under production-linked revenue-sharing method and a Petroleum Ministry proposal for allocation of shale gas reserves on nomination basis.
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Govt proposes price pooling for imported, domestic gas
Price pooling has been proposed by the Union Power Ministry for imported and domestically produced natural gas to be supplied to power plants stranded by a drop in production of the fuel from Reliance Industries' KG-D6 block. The ministry floated a Cabinet note last week to seek government's permission to pool imported liquefied natural gas (LNG) with the fuel available from the KG-D6 block after meeting the requirements of fertiliser units.
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Govt hopes for rise in KG-D6 output
As Reliance Industries and its partner BP plc of the UK are working together, they may have been able to arrest the steep decline in output from their main gas field in the eastern offshore KG-D6 fields. Sources in the Union Oil Ministry said that it was anticipated that the production from KG-D6 will drop to about 11 million standard cubic meters per day by October but that is not happening. The output is around 13.4 mmscmd and is unlikely to drop below 13 mmscmd, the sources added.
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NGT asks govt if gas can be supplied to Assam tea units
The National Green Tribunal (NGT) on September 19 has asked the Union government, Oil and Natural Gas Corporation and Assam Gas Company to clarify it whether natural gas can be supplied to tea industries around Kaziranga which have been ordered to shut down for using wood and coal for their operations.
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Essar Oil in parleys with Ecopetrol to up imports
India's Essar Oil and Ecopetrol, the Colombian gas major and the fourth-largest oil and gas company in Latin America, are set to cement ties. Ecopetrol's three-member delegation, along with the ambassador of Colombia to India and other senior officials held extensive meetings with Essar Oil on September 18 in Mumbai.