Different departments of the government has different view on the proposed pricing formula for domestically produced natural gas. Earlier, a panel led by C Rangarajan, the Chairman of the prime minister's economic advisory council, recommended that gas prices in India should be calculated on the basis of international benchmarks in Japa
Category: Oil & Gas
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KPCT to set up jetty for oil and gas products
Andhra Pradesh-based Krishnapatnam Port Container Terminal (KPCT) intends to construct a jetty for handling liquefied natural gas (LNG) and petroleum oil and lubricants in the next two years. Besides, the port, which is said to be having the biggest and deepest draft container terminal on the east coast of the country, is in the process of setting up a dedicated terminal for export of
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KPCT to set up jetty for oil and gas products
Andhra Pradesh-based Krishnapatnam Port Container Terminal (KPCT) intends to construct a jetty for handling liquefied natural gas (LNG) and petroleum oil and lubricants in the next two years. Besides, the port, which is said to be having the biggest and deepest draft container terminal on the east coast of the country, is in the process of setting up a dedicated terminal for export of
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Cairn India may upgrade reserve estimate
Some analysts expect Cairn India to upgrade crude oil reserves in its prolific Rajasthan field in the next two-three quarters led by higher exploration and drilling activities. It may be noted that the government allowed the company to conduct additional exploration in place. The com
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ONGC works on integration of overseas arm
The top management of state-run explorer ONGC is preparing a plan to integrate its domestic and foreign oil and gas exploration businesses in order to reap synergy. It may be noted that the domestic exploration business is taken care of by ONGC, while ONGC Videsh (OVL) handles foreign
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HPCL board clears JV plan for Rs 373 bn project
The board of Hindustan Petroleum Corp (HPCL) cleared a plan to set up a joint venture company with the Rajasthan government to set up a 9 million tonne (mn t) a year refinery in the next four years. The joint venture, in which HPCL will hold 74 percent stake and the Rajasthan government 26 percent, will implement the project at an investment of Rs 37,320 crore. The project involves setting up of an oil refinery and
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Bihar clears plan to source gas from Rs 75 bn project
In a move that may enable setting up of new industries and power plants, Bihar government cleared a plan to source natural gas from the proposed Jagdishpur-Haldia gas pipeline. The state cabinet approved the plan to sign a Memorandum of Understanding (MoU) with Gas Authority of India (GAIL) for sourcing gas from the pipeline, which will pass through four districts of Bihar: Gaya
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Phase I of Rs 220 bn refinery project seen in 2014
Minister for Industries of Tamil Nadu government P Thangamani informed the state assembly that the 6 million tonne first phase of the petroleum refinery project by Nagarjuna Oil Corporation would be operationalised by 2014. Nagarjuna Oil Corporation proposed to set up a 12 million tonne a year refinery project in Cuddalore for abou
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RBI liberalises overseas investment norms for state-run oil firms
Reserve Bank of India (RBI) allowed state-run oil explorers to invest in their incorporated overseas entities without any limits under the automatic route. It may be recalled that earlier, the navratna public sector undertakings (PSUs) like OVL and OIL were allowed to invest in overseas unincorporated entities only. But the central bank liberalised the existing norms to enable these firms to invest in the incorporated JV/WOS in oil se
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RIL may invest Rs 1.5 trillion in core businesses
Media reports indicate that the various businesses of Reliance Industries (RIL) may get Rs 179,000 crore investment in the next five years. Of the total amount, the firm may invest about Rs 151,000 crore towards core oil, gas, refining and petrochemical sectors in the next five years; the rest would go towards the t