Media reports quoted a top source from the union power ministry as saying that natural gas-based power plants in the country need 72 mscmd of gas to operate at 75 per cent plant load factor. However, at present they get only 27 mscmd gas, which enable them to operate at only 29 per cent plant load factor, reports suggest
Category: Oil & Gas
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Ministry gets request from OIL for gas revision
In order to meet the increasing cost of production and also to enable the proposed capital investment of over Rs 19,000 crore in the 12th Five Year Plan period (2012-17), Oil India (OIL) asked the union oil ministry to raise natural gas price. In a letter to the union oil ministry, the firm said its cost of production of natural gas from the nominated fields was increasing on sustained
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US govt allows export of LNG to non-FTA nations
Department of Energy of the US government gave conditional approval for export of locally produced LNG to non-FTA (free trade agreement) countries from Freeport Terminal on Quintana Island in Texas. The Department of Energy, in its 132 page order, said the proposed exports may result in net economic benefits to the U
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Ministry circulates note seeking hike in gas price
Union Petroleum ministry has circulated a note to the Cabinet Committee on Economic Affairs (CCEA) seeking hike in the price of natural gas produced by both private and state-run companies. The ministry's proposal, if accepted by the CCEA, may benefit firms like ONGC, OIL, Reliance Industries (RIL), Cairn India who are selling the fuel at a pre-determined price
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Cairn’s 3 oilfields hold 2.19 bn barrels of reserves
Cairn India's three oil fields - Mangala, Bhagyam and Aishwariya - in its Rajasthan block had an in-place oil reserve of 2.19 billion barrels as of March 31, 2013 compared to 2.090 billion barrels as on March 31, 2012. It may be noted that these three fields produced oil at the rate of about 170,000 barrels per day for most part of
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Environment ministry seeks details from GSPC
Union Ministry of Environment and Forests has reportedly asked Gujarat State Petroleum Corporation (GSPC) to submit details on certain critical environmental issues identified during laying of pipeline for its project in Andhra Pradesh. It may be noted that the company is laying pipeline for transporting natural gas from Deen Dayal West block in KG Basin in KG-OSN-2001/03
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Kerala CM asks officials to go ahead with gas pipeline project
Kerala government has asked its authorities concerned to go ahead with the work on laying gas pipeline from the Kochi LNG terminal to Kasargode. Land required for the purpose has to be acquired as the pipeline passes through seven districts, starting from Kochi to Kasargode.
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ONGC adds reserves in FY13
State-run oil and gas explorer ONGC added initial-in-place reserves of 265.65 million tonne oil plus oil-equivalent gas during 2012-13. According to internal assessment, this would mean ultimate reserves of 84.84 million tonne of oil plus oil-equivalent gas. Currently, the firm produces 44-45 million tonne of oil plus oil-equivalent gas. The firm has much more oil, as well as oil-equivalent gas because of the discoveries mad
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TCG asserts right over shares of state govt in HPL
West Bengal government's plan to offload its 39.99 per cent stake in Haldia Petrochemical (HPL) suffered setback with the group companies of The Chatterjee Group (TCG), claiming part of the stake sale. TCG, holds stake in HPL through its group firms Chatterjee Petrochem (Maurtius) Company and Chatterjee Petrochem (India
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PSU OMCs seek permission to set up new outlets
Public sector oil marketing companies (OMCs) like Indian Oil Corp (IOC) want the government to allow them to invest on new fuel retail outlets without restriction. It may be recalled that the union government recently prohibited these firms, who are sitting on large pile of debt, from making investment in retail