As per the data with the Petroleum Planning and Analysis Cell (PPAC) of the Union Ministry of Petroleum and Natural Gas, consumption of diesel continues to grow at a faster pace than other petroleum products despite the regular hike in diesel prices.
Category: Oil & Gas
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OVL restarts production from Sudan asset
Dinesh K Sarraf, Managing Director of ONGC Videsh (OVL) said the firm started producing crude oil from its oilfields in Sudan, which was halted 15 months ago owing to the partition of the African nation.
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Essar Oilfields procures rigs for CBM wells
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,
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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 MahaĆĀ”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