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.
Category: Oil & Gas
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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
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OVL proposes to invest more capital in Vietnam block
ONGC Videsh (OVL), the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is awaiting government approval for investing an additional $65.67 million in an hydrocarbon block in Vietnam. In 1988, OVL acquired exploration license for Block 06.1, in which it holds 45 per cent stake. TNK Vietnam BV is the operator with 35 per cent stake and the remaining 20 per c
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Environment ministry clears ToR for report on Rs 99 bn project
Following the recommendation from an expert committee, the ministry of environment and forests (MoEF) approved the terms of references (ToR) for preparing environment impact report for the proposed 2,200 mw gas based project of ONGC. Oil & Natural Gas Corporation (ONGC) plans to set up the gas based power plant, which is second for the company after its 726 mw Tripura plant, in Maharashtra at a
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Cairn India plans $3 bn investment in 3 years
After announcing earnings results for the full year 2012-13, P Elango, CEO of Cairn India informed that the firm aims to invest $3 billion on oil and gas business in India over the next three years. He further said that over 80 per cent of this investment would go into the firm's prolific Barmer oil block in Rajasthan. The firm would meet the entire inves
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Cairn may not get relinquished blocks on nomination basis
The Directorate General of Hydrocarbons (DGH) opined that Cairn India can repossess the almost 8,000 square kilometre of area in its prolific Rajasthan block
only by participating in future NELP or Open Acreage Licensing Policy (OPAL) bidding. It may be recalled that Cairn India requested the government to return the area that it previously relinquished as it did not find oil or
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OMCs to benefit from diesel price hike: Moody’s
Moody's Investors Service pointed out that the recent Re 1 a litre hike in diesel price would reduce under-recoveries incurred by state-run oil marketing companies (OMCs) on sale of fuel at below-market rates. With this price hike, diesel prices rose a cumulative Rs 2.25 per litre since January, which translates into an Rs 18,000 crore decline in under-recoveries, the rese
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No gas to homes with multiple unverified connections
Indian Oil Corporation (IOC) has stated that from June 1, households that have more than one unverified cooking gas connection under one roof will not get refills. The oil marketing companies – IOC, BPC and HPC – have been directed to stop supplies of LPG refills to households having multiple-connections for which no KYC (Know Your Customer) details have been received, with effect from June 1.