P Lakshmi, Minister of State for Petroleum & Natural Gas informed the Lok Sabha that ONGC Board has recently approved a turnaround or reconstruction project in Bassein fields in its meeting held on March 20, 2013, at an estimated cost of $207 million (Equivalent to Rs 1,138.50) with scheduled completion by April 2015. Further, she said, with implementation of various rede
Category: Oil & Gas
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Shiv-Vani says its contract is not banned by ONGC
In a press release, Shiv-Vani Oil and Gas Exploration Services clarified that ONGC cancelled the process of banning its contract as the latter is satisfied with the former's performance at the site the Kakinada processing facility. It may be noted that there were rumours that ONGC banned the contract given to Shiv-Vani Oil and Gas to install and operate one compressor along with one s
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Kerala govt urges centre to introduce CGD in Kochi
Kerala Chief Minister Oommen Chandy asked the union petroleum ministry to fast-track the implementation of the City Gas Distribution (CGD) project in Kochi. Recently, Chandy asked the union oil Minister Veerapa Moily to take proactive steps to realise the CGD project. In the letter, Chandy ensured his governmentĂâs Ăâsupport including single window clearance for the realis
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Kerala govt wants centre to introduce CGD in Kochi
Kerala Chief Minister Oommen Chandy asked the union petroleum ministry to fast-track the implementation of the City Gas Distribution (CGD) project in Kochi. Recently, Chandy asked the union oil Minister Veerapa Moily to take proactive steps to realise the CGD project. In the letter, Chandy ensured his governmentĂâs Ăâsupport including single window clearance for the realisation of the projec
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MRPL diversifies source of oil import
Global oil firm BP is learnt to have sold 650,000 barrel of Nigerian Okoro crude oil to MRPL for June 1-15 via a tender at a premium of about $5.60 a barrel to dated Brent. MRPL has also reportedly bought 650,000 barrels of Gabon's Rabi light sweet crude oil in a previous tender from Shell for May lifting at a premium of about $3.30 a barre
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United LNG seeks govt nod for gas supply to Petronet
Houston-based United LNG will supply 4 million metric ton a year of liquefied natural gas to Petronet LNG for 20 years after the US Department of Energy gives its approval. While both, Petronet and United LNG, signed a preliminary agreement for the supply of LNG, the final agree
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India bought 7.2% of total oil import from Iran
India imported 7.2 per cent of its total oil import in 2012-13 from the sanction-hit Iran, down from, down from 10.5 per cent in the previous fiscal. Of the 182.5 million tonne of crude oil imported in 2012-13, supply from Iran accounted for about 13.3 million tonne. In 2011-12, India imported 18.1 million tonne from the country. These were behind 32.5 million tonne from Saud
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Govt forms panel to decide on extension of lease
Press reports indicate that the union government formed an inter-departmental committee to extend petroleum leases in producing oil and gas blocks. Recently, the committee, chaired by oil ministry's additional secretary & financial adviser (AS&FA) SC Khuntia, held its first meeting. However, the committee did not discuss any particular case because of absence of a key member, repo
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Crude oil futures rise in recent sessions
Crude oil futures rose in recent trading sessions in the international market led by optimistic unemployment data from the US. According to data released by the US Labor Department, unemployment in the country declined to 7.5 percent in April 2012 from 7.6 percent in the previous month. This is said to be the lowest unem
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ONGC produces 5.8% less oil in FY13
According to a performance report of state-owned Oil and Natural Gas Corp (ONGC), the firm produced 5.8 per cent less crude oil at 20.485 million tonne (mn t) in 2012-13 compared to 21.76 mn t achieved in the previous year. The report, which was submitted to the union oil ministry recently, also shows that the output was also shor