While the Indian government showed interest in the Iran-Pakistan natural gas pipeline project, it remains to be seen how it arrives at a consensus with Pakistan on the transit fees for using the pipeline. During his recent visit to Iran, Indian External Affairs Minister Salman Khurshid showed interest in the project. Reports from New Delhi also indicate that the Iranian Oil Minister Rostam Qassemi is scheduled to visit New Delhi som
Category: Oil & Gas
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GAIL studies impact of tariff order
GAIL India is studying the impact of the recent tariff order by the Petroleum and Natural Gas Regulatory Board (PNGRB) on its financial position. Some reports indicate that the May 10 order of PNGRB may cause Rs 500 crore loss for the company. In its order, the downstream regulator retrospectively reduced the tariff charged by GAIL for its Krishna Goda
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Petronet to rope in contractors for LNG terminal project
In order to set up gas storage facilities, re-gasification plant and marine facilities for its proposed 5 million ton LNG terminal in Gangavaram, Petronet LNG will rope in contractors. In order to select contractors, the company invited bids from eligible entities. Some months ago, the board of the firm approved the plan to set up the LNG terminal, which would be the first
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Consumers prefer local gas due to high cost of imported gas
Even as several power and fertiliser plants are suffering from insufficient availability of natural gas, they are averse to buy imported gas because of its unacceptably high price. Natural gas-based power producers want a larger share of the domestically-produced cheaper gas, which is priced between $4.2 (RIL's D6 gas) and $5.73 per unit, which is far less than the price of imported gas in the s
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EGoM to discuss oil ministry proposal
The Empowered Group of Ministers (EGoM) would soon discuss the note circulated by the petroleum ministry on allocation of natural gas. According to the note, the petroleum ministry wants to discontinue the practice of giving priority to urea
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Anadarko may seek bids from more players
Anadarko Petroleum and Videocon Industries, who want to dilute 20 percent of their holding in a natural gas block in Mozambique, may seek expression of interest from some more players, reports indicate. A consortium of ONGC and OIL has reportedly offered over $5 billion for the 20 percent stake. How
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Oil India gets green nod for exploration in KG block
Oil India (OIL) received approval from the union Ministry of Environment and Forests ( MoEF) for its proposed exploration activities in KG-ONN-2004/1 block in the Krishna-Godavari basin. According to a letter from the union ministry, OIL has been allowed to conduct prospecting exploration activities over an extent of 55 sq km of forest land in the b
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A unit of MRPL’s refinery may be closed for maintenance
According to source-based information, Mangalore Refinery and Petrochemicals would shut a part of its coastal refinery facility in Karnataka for up to 25 days to conduct maintenance activity. It is learnt that the state-run firm may shut 144,000 barrels per day (bpd) crude unit, which is one of the three units in the coastal refinery, for up to 25 days. CDU II will be s
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ONGC’s Tripura project to earn 1.6 mn carbon credits
ONGC expects to earn 1.6 million carbon credits per year from its 726.6-mw gas-based power generation plant in Tripura as the unit is registered as a Clean Development Mechanism (CDM) project. The gas-based project, which is developed by ONGC Tripura Power Corporation (OTPC), is registered with the United Nations Framework Convention on Climate Change (UNF
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To maintain output, Cairn India mulls 48 more wells
In order to maintain the current peak production level, Cairn India plans to drill 48 wells at a cost of less than $100 million on the Mangala oilfield in its Rajasthan block. Mangala is the biggest among the 26 oil and gas discoveries Cairn has made in the Barmer basin block in Rajasthan