The Union Cabinet has approved establishment of additional 6.5 million metric tonne (MMT) Strategic Petroleum Reserve (SPR) facilities at two locations
Category: Oil & Gas
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Saudi ARAMCO and ADNOC sign MoU
Saudi Aramco and ADNOC signed a memorandum of understanding
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SOPAN to provide eco- friendly enhanced oil recovery solutions
This makes the technology suitable during both high and low crude oil rates. In addition, the process requires no topside modification offshore, therefore eliminating any need for incremental capex.
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Maharashtra to increase the share of services sector from 49% to 65%: CM Fadnavis
Maharashtra has always led the countrys industrial development scenario and continues to attract the largest quantum of investments both domestic and foreign.
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Post Budget Analysis | OIL & GAS
Provision of revenue expenditure/subsidy for sensitive petroleum products of ~Rs 217 billion for FY2019 and 2018v19 (BE), excluding allocation of new LPG connections to poor families.
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EOSIL awarded contract by ONGC
Essar Oilfields Services India Limited (EOSIL) announced that it has been awarded a one-year, Rs 32-crore contract by ONGC to drill 30 wells at the latter's coal bed methane (CBM) block in Bokaro, Jharkhand. The Company will be deploying the MR#11 land rig for the job.
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Reforming India’s Oil & Gas Sector
Avery colourful legend has it that during the construction of the railway line from Dibrugarh to Margherita by Assam Railways & Trading Co (AR&TC) in 1867, a herd of logging elephants returned to the camp with their feet covered in crude oil. Even as this led the AR&TC personnel to look for seepages, the site engineer, WL Lake, reportedly cried out in excitement to his workers, 'Dig boy, dig!' on coming to learn about it.
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India Needs to be Realistic on the Exploration Front
Speaking exclusively to INFRASTRUCTURE TODAY, Prof Kirit Parikh, Chairman Integrated Research and Action for Development (IRADe) and author of the seminal report on pricing methodology for diesel, domestic LPG and PDS, believes that though the federal dispensation is presently offering lucrative terms to investors in the oil and gas sector, it must also ensure that those commitments are adhered to.
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India’s PSU glued to Bloomberg’s foreign exchange platform
Bloomberg announced today that a growing number of India's public sector corporations are adopting Bloomberg's Foreign Exchange electronic trading platform (FXGO) for foreign exchange dealing. The corporations include Gas Authority of India Ltd (GAIL), Rural Electrification Corporation Limited (REC) and ONGC Videsh Ltd (OVL).
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BIG Data The New Oil
The ability to harness and store large volumes of data to enable future services and add extensions to current services to improve can only be achieved with big data.