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.
Category: Oil & Gas
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Further US sanctions may fail to cut Iran oil sales
Media reports say that the US Congress is set to pass a bill to further squeeze Iran's oil exports - and its nuclear programme - but new sanctions may fail to cut Iran's crude sales. However, Tehran says its nuclear programme is for generating electricity and medical devices.
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Crude oil-tanker vessel Desh Shanti reaches Vizag
India's crude oil-laden oil tanker vessel MT Desh Shanti reached Vizag Port Trust (VPT) in the early hours of September 18. The oil tanker of the Shipping Corporation of India (SCI) was detained by the Iranian authorities for almost 26 days and now finally reached the VPT in the eastern coast of India.
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Task force okays Rs 3,106 cr gas-based project in Odisha
Now decks have been cleared for establishment of a 423 mw gas-based power project in Odisha, the first of its kind in the state, at an investment of Rs 3,106 crore. JGreen Power has come forward with its proposal for the project. The company has a registered office at Balasore.
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OVL bars Chinese firm from buying state in Brazilian oilfield
Indian-government owned ONGC Videsh (OVL) has blocked a Chinese company from acquiring a stake in the Brazilian oilfields by utilising its pre-emptive right. The Brazilian State-owned Petrobras had planned to sell its 35 per cent state in block BC-10 in the Campos Basin to the Chinese Sinochem group for $1.54 billion. OVL, has a 15 per cent stake in BC-10, along with Royal Dutch Shell company.
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HPCL planned 2nd LPG storage at Mlore hits hurdle
Due to the government's ceiling on number of LPG cylinders a year for a household, Hindustan Petroleum Corporation's (HPCL) plan to set up a second underground storage facility for liquefied petroleum gas (LPG) in Mangalore has hit a roadblock.
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ONGC wins 9 Greentech Safety Awards
Nine Greentech Safety awards have been won by the Oil and Natural Gas Corporation (ONGC), Assam Assets for its performance in maintaining health, safety and environment standards. Among the awards won, one is platinum, three gold and five silver awards. The ONGC Assam Assets bagged these awards in the recently held 'Greentech Occupational Health Safety & Fire Conference' in Goa.
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Diesel under-recovery rises to Rs 14.50/litre
The under-recovery, or revenue loss, applicable on diesel for the second fortnight effective from September 16, has been rised upwards at Rs 14.50 per litre, the Union Petroleum Ministry has on on September 15. Oil marketing companies (OMCs) incurring higher daily under-recovery of Rs 486 crore daily crude oil price of Indian Basket remains steady at $110.68/bbl on last September 13.
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GMB committee calls for digitized mapping of pipelines
An expert panel of Gujarat Maritime Board (GMB) suggested government to prepare digitized maps of all the oil and gas pipelines on the coast of Gujarat. This suggestion was made by a two-member panel after probing the recent oil seepage in Narmada river near Bhadbhut.
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CMPDI submits data on shale gas blocks
Central Mine Planning & Design Institute (CMPDI) submitted data package for six shale gas blocks to the Directorate-General of Hydrocarbons. These include two blocks in Ranigunj coalfields of the Damodar basin in West Bengal. They are most prolific with a reserve potential of 50 billion cubic metre. The others are in Jharia, also in the Damodar basin, and in the