Between 2014 and 2016, Cairn India has planned a net capital investment of $3 billion in its Rajasthan oil and gas field, Chief Executive P Elango said in the company's annual report. By March 2014, Cairn India aims to raise crude oil production from the Rajasthan asset by as much as 23 per cent to 215,000 barrels per day
Category: Oil & Gas
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OIL to set up subsidiary for foreign operations
In the next few months, state-run energy explorer Oil India (OIL) may set up a foreign arm for exploration and acquisition of hydrocarbon assets abroad, thereby becoming the third state-run oil company to have a dedicated subsidiary for foreign operations. OIL now has presence in countries like Sudan, Libya, Venezuela, Egypt, Timor Leste, Yemen, Nigeria, Iran, the US and Gabon. In Gabon and Libya, it is the main operator of its blocks
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RIL relinquishes 2 gas fields at KG Basin
Owing to non-lucrative natural gas prices, Reliance Industries (RIL) relinquished two natural gas fields at the KG Basin, media reports indicate. After RIL discovered gas in the two blocks, it took them to the Directorate General of Hydrocarbons (DGH) to declare them commercially viable Ćā declaration of commerciality, in jargon
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IGL raises prices of PNG, CNG
Indraprastha Gas (IGL) raised the retail price of PNG (piped natural gas) and the compressed natural gas (CNG) owing to the recent steep appreciation of the dollar vis-a-vis rupee. The firm raised the price also because of the increased dependence on imported LNG, which raised its input cost of gas and necessitated the increase in retail prices of CNG and PNG. IGL said there has been a sharp depreciation of the rupee vis-vis dollar in the last one month
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Impact of gas price hike on other sectors
According to some estimate, an increase in the price of natural gas by $1 would result in fertiliser plants taking a hit of Rs 3,155 crore per annum for producing 23 million tonne (mn t) of urea in 2013-14 and Rs 4,144 crore a year for 32 mn t from 2017-18. As for the power sector, the the impact of every dollar increase in the price of natural gas would be about Rs 10,040 crore per annum for generating 28,000 mega watts power
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Experts suggest govt to liberalise pricing regime
Experts opine that the government must incentivise private companies to produce more natural gas by giving them freedom to fix market-linked price for the fuel. The liberal pricing regime in the US allowed companies to invest in new technologies in the oil and gas sector. The abundance of shale rocks in the Ame
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Experts suggest govt to liberalise pricing regime
Experts opine that the government must incentivise private companies to produce more natural gas by giving them freedom to fix market-linked price for the fuel. The liberal pricing regime in the US allowed companies to invest in new technologies in the oil and gas sector. The abundance of shale rocks in the Ame
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Govt postpones decision on gas pricing
Union Finance Minister P Chidambaram has stated that the Cabinet Committee on Economic Affairs on June 21 deferred a decision on domestically produced natural gas pricing. Chidambaram said that the Union Minister for Petroleum & Natural Gas, M Veerappa Moily had to go to Agartala and that's why the deferment. Hopefully, the government would like to take a decision next week when the Minister is back, Chidambaram said.
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Govt postpones decision on gas pricing
Union Finance Minister P Chidambaram has stated that the Cabinet Committee on Economic Affairs on June 21 deferred a decision on domestically produced natural gas pricing. Chidambaram said that the Union Minister for Petroleum & Natural Gas, M Veerappa Moily had to go to Agartala and that's why the deferment. Hopefully, the government would like to take a decision next week when the Minister is back, Chidambaram said.
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Govt’s nod to RIL to surrender SEZ in Haryana
The Union government has allowed Mukesh Ambani owned by Reliance Industries to surrender its special economic zone (SEZ) in Haryana. The decision to de-notify Reliance Haryana SEZ, a unit of RIL, was taken by Board of Approval (BoA), headed by Commerce Secretary SR Rao, in its meeting on June 12.