The Union Oil Ministry has terminated Punj Lloyd's contract for constructing Rajiv Gandhi Institute of Petroleum Technology (RGIPT) in Rahul Gandhi's parliamentary constituency, citing non-performance and re-tendered the Rs 435-crore project. The ministry wants to scale down the project to expeditiously complete it before the general elections scheduled next year.
Category: Oil & Gas
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India in talks with Pak to export natural gas via pipeline
To export natural gas to Pakistan through a pipeline from its Punjab state, India is in talks with the neighbouring country to help it overcome crippling energy shortage. India's State gas utility GAIL has proposed to lay a 110-km pipeline from Jalandhar to Wagah border via Amritsar to supply natural gas to Pakistan, GAIL Chairman and Managing Director BC Tripathi has said.
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India reduces oil imports by half from Iran
India's imports of crude oil from Iran more than halved in June from a year ago as refiner Essar Oil became the only remaining Indian client of the sanctions hit country. Tanker data showed that India's imports for June fell about 60 per cent on an annual basis, pointing to imports from Iran's top four customers-China, Japan, India and South Korea of around 8,60,000 barrels per day for the month down more than a third on the year.
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Gorgon gas import price is too high: Gail
India's biggest gas marketer Gail India said the long-term gas import contract with Australia's Gorgon project for about $15.67 per unit price is too high and does not reflect market reality, prompting the state firm to ask the importer, Petronet LNG (PLL), to renegotiate the contract. Gail's statement follows demands from some energy firms for import-parity price for domestically produced natural gas. These firms criticised the recently approved pricing formula propounded by the the Rangarajan
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GAIL may drop TN pipeline project: Gail
GAIL (India) may abandon the Tamil Nadu portion of the Kochi-Koottanad-Bangalore-Mangalore natural gas pipeline project if no decisions are taken by the State Government within a month. Gail Chairman BC Tripathi said that the matter was discussed at the Board meeting. We will wait for one more month and then the Board will take a call on abandoning the project said Tripathi.
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Petronet plans to operationalise phase I of terminal project by Aug
According to media reports, 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.
Work on the project in the southern end of Vypin island
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Cabinet to decide on Rs 372 bn refinery project
Media reports indicate that the union cabinet would soon decide on clearing the Rs 37,230 crore refinery project at Barmer, Rajasthan. It is learnt that the central government prepared a note for the cabinet on this project, which is promoted by the state-run Hindustan Petroleum Corporation (
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Foreign firms eye refinery, LNG projects in India
According to media reports, British Gas and British Petroleum are interested to set up oil refineries and LNG terminals in India. It may be noted that recently, government allowed 100 per cent FDI in oil refineries throÂugh the automatic rouÂte and this removes the need for a foreign company to tie-up w
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GAIL may import LNG at a landed cost of $10.5 per unit
According to sources from union oil ministry, the landed cost of the liquefied natural gas (LNG) to be sourced by the state-owned gas utility GAIL India from the US would be around $10.5 per mmBtu, based on the current Henry Hub price. Gas at US Henry, LA is currently traded at around $3.78 er mmBtu. In December 2011, GAIL entered into a pact with Houston-based Cheniere's Sabine Pass LNG terminal in w
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BPCL to deploy Rs 9 bn more on Kochi project
Prasad K Panicker, Executive Director of Bharat Petroleum Corporation (BPCL) Kochi Refinery informed that the firm would spend Rs 900 crore on a new LPG pipeline project and storage capacity project. While the state-run oil refiner would invest Rs 600 crore to set up a 229-km pipeline in Kochi Refinery, it would spend another Rs 300 crore at its Irumpanam unit to raise