Essar Oilfields Services is in the process of procuring six on-shore drilling rigs for coal bed methane (CBM) at a cost of about $36 million. These rigs have greater mobility as required in CBM drilling,
Category: Oil & Gas
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GAIL’s Kochi LNG terminal by July
GAIL India plans to commission its Kochi liquefied natural gas (LNG) terminal in July. Initially, the terminal was about 2.5 million tonne (mt) capacity and the pipelines were to be laid within Kerala only,
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Natural gas output declines
Production of natural gas from domestic assets declined to 118 million standard cubic metre per day (mmscmd) in 2012-13 from 130 mmscmd in the previous year.
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IOC to invest Rs 110 bn
The capital expenditure of Indian Oil Corporation (IOC) is pegged at Rs 11,000 crore during 2013-14.
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Aban Offshore to raise Rs4,500 cr
Offshore drilling and oil field service provider Aban Offshore is planning to raise more than Rs 4,500 crore through various market instruments to replace a portion of its expensive debt.
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Best performer
Virendra Singh Jain has been appointed as an independent director of Essar Oil. With an experience of over three decades at the helm of public and private sector enterprises, including two Maha¡ratnas, his wide ranging experience and financial expertise
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MPT asks Goa govt to hire 2 tugs
Mormugao Port Trust (MPT) asked the Goa government to hire two tugs of 100 ton each from Mumbai in order to tow away the oil tanker MT PratibhaBhima to a safe location in the Mormugao harbour. MPT feels that the two tugs along with the three tugs it already possesses could be used to guide the tanker safely to the harbour
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Govt to prepare scheme for piped gas supply
Madhya Pradesh government would prepare a scheme in association with GAIL to start the supply of piped domestic gas to the residents of Bhopal-Mandideep. Recently, the state urban administration and development Minister Babulal Gaur discussed this project with the officials of GAIL. Bhopal city Mayor Krish
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Cairn India expects 215,000 bpd output from Rajasthan block
Cairn India aims to achieve a production level of 200,000-215,000 barrels of oil per day (bpd) during 2013-14 from its Rajasthan block compared to the present production level of 175,000 bpd. The Vedanta group firm has 26 discoveries in the block with an in-place reserve of around 7.3 billion barrels of oil equivalent. The main producing areas in the Rajasthan block are the Mangala, Bhagyam and Aishw
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Minister hopes to control fuel subsidy at Rs 800 bn
Finance Minister P Chidambaram expressed confidence that the overall fuel subsidy burden during 2013-12 may not exceed Rs 80,000 crore. The finance ministry is relying on the partial de-regulation of diesel pricing, the cap on subsidised cooking gas (LPG) and export parity pricing to reduce its oil subsidy burden by at least 80 per cent. He said of the Rs 80,000 crore, government has Rs 2