After stopping for four months, Mangalore Refinery and Petrochemicals (MRPL) plans to resume Iranian oil imports from August, because it has found no suitable alternatives, sources said. Resumption of shipments by MRPL, Iran's top Indian client until it stopped purchases in April, will help to revive the country's Iranian oil imports. India's intake of Iranian crude fell by 40 per cent in the April-June quarter, as refiner Essar Oil became Iran's lone Indian client.
Category: Oil & Gas
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Officials of CPT, COT to iron out differences
Cochin Port Trust (CPT) and BPCL Kochi Refinery may hold a meeting to iron out issues regarding sharing of cost for carrying out dredging at the Cochin Oil Terminal (COT). It is learnt that the union government decided to convene a meeting between both the organisation to settle the difference
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Petronet LNG Kochi terminal
Petronet LNG may operationalise its Phase-I of the natural gas terminal at Kochi by the end of August 2013. The company, which initially planned to commission the project during March 2013, faced several roadblocks
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Foreign firms eye O&G projects
British Gas and British Petroleum are interested to set up oil refineries and LNG terminals in India. Recently, government has allowed 100 per cent FDI in oil refineries through the automatic route and this removes the
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Myanmar oil and gas blocks
Myanmar government shortlisted 61 companies to bid for 11 shallow-water and 19 deep-water oil and gas blocks in an international tender. Among these firms are India's Reliance Industries,
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ONGC’s G-1 plans
By September 2013, ONGC plans to begin oil and gas production from G-1 marginal field, the first deepsea asset in Krishna-Godavari basin off Andhra coast.
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IOC disinvestment
Disinvestment of 10 per cent paid-up equity in the Indian Oil Corporation (IOCL) has been approved by the Cabinet Committee on Economic Affairs, as per the government's disinvestment policy.
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IOC to invest Rs 50 bn on gas project
Indian Oil Corporation (IOC) chose Dhamra coast in Orissa's Bhadrak district for setting up a natural gas terminal at an investment of Rs 5,000 crore. In future, IOC plans to raise the capacity of the terminal by above 10 million tonne per annum.
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ONGC to double its output in Assam
ONGC Assam asset plans to com¡¡p¡lete projects on time so as to double its production by 2030 from the current level of 1.21 million tonne per year. More wells need to be drilled with the latest technology, emphasis has to be laid on opening up new horizons by strengthening exploration activities
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8.5 GW gas-based plants remain idle
Some reports indicate that around 8,500 MW of gas-based power plants are lying idle in the country owing to non-availability of fuel. A high-powered ministerial panel rejected a proposal to cut natural gas supplies to urea plants and divert that fuel to power companies.