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.
Category: Oil & Gas
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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.
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Centre wants to curb oil imports, will encourage use of alternate fuels
The country is planning to reduce its dependence on oil imports and turn to use of alternate fuels. Fuels like ethanol are already being utilised by a few players in the Indian transportation sector.
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Emissions need to be cut down by 20% in next 15 years
FICCI, in partnership with the Ministry of Environment, Forest and Climate Change (MoEFCC), Government of India, the World Bank Group, the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB), with the support of GIZ, organised the 10th edition of the India Climate Policy and Business Conclave at The Park hotel in New Delhi. The Conclave drew 200 participants from business and industry, Central and state governments, representatives from nearly 35
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IOC may take Odisha to court over Paradip refinery tax sops
Indian Oil Corp (IOC) may drag the Odisha government to court for reneging on its promise to give tax concessions to its Rs 34,555 crore Paradip refinery in the state.
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Contract awarded for 31 Tamil Nadu oil fields
The Cabinet Committee on Economic Affairs (CCEA) has approved the award of 31 contract areas as part of the Discovered Small Field (DSF) Bid Round 2016.