India will not be wrapping the deal on Koodankulam 3 and 4 Energy pact with Russia.
Instead the country will push for an energy pact with Russia that could see a parallel twin gas and oil pipeline bringing energy overland into India. Indian Prime Minister Manmohan Singh arrived in Moscow on a two-day visit for the 14th India-Russian annual summit at the invitation of President Vladimir Putin on October 20.
Category: Oil & Gas
Post
India will go for gas, oil deal with Russia
Post
OVL, OIL to share Videocon stake equally
The 10 per cent stake in Videocon Group's giant Mozambique gas field bought by ONGC Videsh (OVL) and Oil India for $2.475 billion will be shared equally. OVL, the overseas arm of State-owned Oil and Natural Gas Corp (ONGC) and OIL had jointly bought Videocon Group's 10 per cent interest in the Rovuma Area-1 for $2.475 billion.
Post
ONGC Videsh to buy 12% in Brazil’s BC-10 block
To buy an additional 12 per cent participating interest in block BC-10 in Brazil's Campos Basin, ONGC Videsh has signed definitive agreements. Post the deal, OVLÂ’s share in the acreage would increase to 27 per cent, the Indian government firm said on October 14.
Post
HC asks Maha govt to ban construction on wetlands
The Maharashtra government has been directed by the Bombay High Court on October 14 to issue a circular to all civic bodies to ensure that no construction or reclamation is permitted on wetlands in Maharashtra. A division bench of Justice VM Kanade and Justice SC Gupte also directed the government to state if it will adopt the Centre's wetland atlas as its brief document.
Post
Oil Ministry saves 600 litres of fuel by using Metro rail
The Union Petroleum and and Natural Gas Minister Marpadi Veerappa Moily has said that his ministry alone can save about 600 litre of petrol and diesel worth over Rs 40,000 by travelling by public transport. He traveled by the Delhi Metro rail on October 9.
Post
Work on LNG terminal at Mangalore to begin in Nov
Union Minister for Petroleum and Natural Gas Marpadi Veerappa Moily has said that the construction of an LNG import terminal at Mangalore will commence in next November. At present, companies ONGC, Bharat Petroleum Corp Ltd. (BPCL), Mitsui and New Mangaloe Port Trust (NMPT) are surveying the feasibility of the LNG terminal, say media reports.
Post
Work on LNG terminal in Mangalore to start in Nov
Union Minister for Petroleum and Natural Gas Marpadi Veerappa Moily has stated that work on the new LNG (liquefied natural gas) import terminal at Mangalore will begin in next November. A feasibility study on the terminal is being carried out by a consortium of ONGC, BPCL, Mitsui and New Mangalore Port Trust (NMPT).
Post
Rajasthan to get refinery-cum petrochemical complex
The Union Cabinet has recently approved the proposal of Hindustan Petroleum Corporation (HPCL), a Public Sector Undertaking to set up a 9 mmtpa greenfield Refinery cum Petrochemical Complex in Barmer District in Rajasthan, as a Joint Venture (JV) with Government of Rajasthan under the name HPCL-Rajasthan Refinery Limited( HRRL).
Post
India to build its 1st oil storage facility soon
To insulate itself from oil supply disruptions, India will build its first strategic oil storage facility by January,
Union Oil Minister M Veerappa Moily has said on September 28. India, which is 79 per cent dependent on imports to meet its crude oil needs, is building underground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store about 5.33 million tonne of crude oil, the Minister said.
Post
Petrol price slashed, diesel costs more
Petrol price was steeply cut by Rs 3.05 per litre on September 30. The price changes announced by oil companies are excluding local sales tax or VAT and will be effective midnight of September 30. It was the first reduction in rates in over five months and the steepest in over five years, while diesel prices were raised by 50 paise a litre.