Andhra Pradesh government has taken a series of initiatives to promote oil and gas projects in the state. For example, the state government is keen to expedite an LNG re-gassification terminal project – a floating one with a capacity of 3.5 mn tpa in Kakinada, which is to be upgraded to 5 mn tpa. AP Gas Distribution Corporation Limited (a joint venture of Gail Gas and AP Gas Infrastructure Corporation) and
Category: Oil & Gas
Post
Post
RIL proposes $16-bn investment if pricing regime is favourable
An investment of $16 billion is proposed by Reliance Industries (RIL) on exploration and production of oil and gas in its fields in the next five years. The company expects to tap 3-4 trillion cubic feet (tcf) of gas through this investment. But the company feels that its investment would not be recoverable if the price calculated under the Rangarajan committee formula is
Post
SP Ports, HPCL to form JV for Rs 50 bn project
SP Ports Pvt Ltd and Hindustan Petroleum Corp (HPCL) would soon sign a 50:50 joint venture agreement for setting up a liquid natural gas (LNG) terminal at Chhara in Gujarat. The state-run HPCL and the Shapoorji Pallonji group company would invest about Rs 5,000 crore on the terminal project, which is intended to
Post
HPCL, Shapoorji Pallonji to build Rs 5K cr LNG terminal
To set up a terminal for importing liquid gas or liquefied natural gas in ships government-run Hindustan Petroleum Corporation (HPCL) would partner with Mumbai-based infrastructure major Shapoorji Pallonji Group Total cost for the terminal is estimated at Rs 5,000 crore. HPCL and SP Ports Pvt Ltd, a unit of Shapoorji Pallonji Group, plan to set up the terminal at Chhara in Gujarat's Junagadh district through a 50:50 joint venture.
Post
RIL denied approval for $3.5 bn development plan
Owing to the absence of Drill Stem Tests (DSTs) to confirm the finds, the Directorate General of Hydrocarbons (DGH) refused to take forward the development plan of Reliance Industries' (RIL) in block NEC-25. RIL failed to conduct the above tests to confirm discovery in the NEC-25 block, off the Odisha coast. The firm made discoveries in D-32, D-40, D-9 and D-10 in the Block NEC-OSN-97/2 (NEC-25) and it sub
Post
Mizoram govt encourages firms to explore oil
Mizoram government is encouraging oil and gas companies in India to to explore and produce oil in areas which are rich in crude oil deposit in the state. Experts and some oil firms claim that the state is home to a rich deposit of crude oil. According to, Dr Lallenmawia, a geologist from Mizoram, the state falls under category number one or 'proven commercial productivity zone' which roughly estimates there could be ab
Post
OMCs raise petrol price 4th time in 6 wks
On the backdrop of the depreciation of rupee against dollar, state-run oil marketing companies (OMCs) raised the price of petrol by a steep Rs 1.55 a litre, excluding local sales tax or VAT. According to the traditional price revision cycle, the change in the petrol price should be effective from July 16. But it was raised a day earlier. The hike, which is the fourth time in six weeks, comes as the falling value of rupee against the dollar incre
Post
GGL, VMC form JV for city gas distribution
GAIL Gas (GGL) and Vadodara Municipal Corporation (VMC) formed a join venture company which aims to double the number of piped natural gas (PNG) connections in the city in four years. The civic body and the gas distribution firm finalised the joint venture agreement recently and signed a share
Post
India imports more crude oil from Nigeria
Over the last three months, India has been importing more crude oil from Nigeria than the United States, Indian High Commissioner to Nigeria Mahesh Sachdev informed. During a courtesy visit to the Governor of Niger state in northern Nigeria, he said India will continue to cooperate with Nigeria to improve its economy and it will also assist the country in capacity building of workers in both the publi
Post
Complaint against ONGC rejected by CCI
A complaint filed by an Assam-based civil and transport contractor alleging anti-competitive practices by Oil and Natural Gas Corporation of India (ONGC) was rejected by the Competition Commission of India (CCI). The CCI, in its order, said the complainant did not submit any evidence of bid rigging with respect to tenders floated by ONGC for hiring hydraulic cranes. The complaint pertains to ONGC notice, issued in December 2012, inviting bids under two bids system from