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
Category: Oil & Gas
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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
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Cairn finds exploration not feasible in entire KG block
In a letter to the union oil ministry, Cairn India said a quarter of its KG basin block area falling on both sides of "no go area" is operationally not feasible and offered to surrender it to the government. For proper and effective exploration, only 40 per cent of the original contract area of KG-OSN-2009/3 block is feasible, it wrote
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ONGC, Shell to form partnership for overseas ventures
In order to acquire oil and gas assets abroad, oil explorer Shell and Oil and Natural Gas Corp (ONGC) are considering to forge a partnership. Recently, both the firms said they are keen to come together to explore both upstream and downstream opportunities domestically. Some reports suggest that both the firms would extend this partnership to overseas proje
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Govt to consider views of fertiliser, power ministry on gas pricing
Union Petroleum Minister Veerappa Moily is quoted as saying that the government would arrive at a consensus on the pricing of natural gas after considering the reservations of the power and fertiliser ministries. Moily has reportedly said his ministry has not yet approved $8-$8.5 per mmbtu as the new uniform gas price, as suggested by the committee headed by
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House panel suggests JV firm for oil import
The Parliamentary standing committee on petroleum and natural gas suggested the formation of a joint venture firm by all the state-run refiners who import crude oil from abroad. The proposed joint venture firm, that would be promoted by all the interested state-run refiners, must be entrusted with the work of importing of crude oil requi