Oil and gas exploration companies are seeking clarity from the government on the tenure of leases issued under the existing production-sharing contracts (PSCs). Following this, the government set up an inter-ministerial committee led by the Union oil ministry.
Category: Oil & Gas
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ONGC mulls Rs 100 bn gas plant project
ONGC may invest nearly Rs 10,000 crore to set up an integrated gas processing plant with a capacity of 10 mmscmd in Maharashtra.
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Essar Oil to invest Rs 350 bn on refinery expansion
At an investment of about Rs 35,000 crore, Essar Oil plans to double the refining capacity of its Vadinar unit in Gujarat to 40 million tonne per annum in the next five years.
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New gas finds may raise output of RIL
Some analysts expect that the new gas finds of Reliance Industries (RIL) in the KG-D6 block may raise the production of natural gas from the asset. RIL has recently announced a major gas find more than 4 km below the sea bed and 2 km directly
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Demand for diesel grows
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.
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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.