In a development that may increase output from Reliance Industries' (RIL) KG D6 basin, the company said it discovered another reservoir of natural gas below its existing fields in the basin. Although the company could not ascertain the potential output at the reservoir as it is still drilling in the region, some reports indicate that the new reserve could
Category: Oil & Gas
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Oil marketers to buy ethanol from sugar mills
Oil marketing companies (OMCs) plan to procure ethanol from sugar mills in order to blend it with petrol and in this regard they invited bids for 105 crore litre of ethanol from domestic and global suppliers in the sugar year ending October 2013. Of the 55 crore litre offered by Indian sugar mills, 11 crore litre is finalized as this volume was offered at the lowest
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Govt to extend Dabhol pipeline upto Mangalore
The natural gas pipeline laid between Dhabol in Maharashtra and Bangalore would be extended up to Mangalore via Chitradurga, Union Minister for Petroleum and Natural Gas M Veerappa Moily said. The extension of the pipeline till Mangalore would enable the government to supply gas to domestic and commercial consumers in the coastal town. Moily said this while addressing a press
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Traders body seeks clarity on bulk consumers
Ajay Bansal, General Secretary of the Federation of All India Petroleum Traders (FAIPT) said the body requested oil marketing companies (OMCs) to define who are the bulk consumers of diesel. The federation asked OMCs to issue clear written instruction supported by the government notification defining who are bulk consumers
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State-run OMC under-recovery set to fall in FY14
RS Butola, Chairman of Indian Oil Corp (IOC) informed reporters that the under-recoveries incurred by state-run oil marketing companies (OMCs) on the sale of diesel, LPG and kerosene may fall to Rs 112,000 crore from the earlier estimate of Rs 130,000 crore. The under-recoveries may decline because of the fall in the international crude oil price. But he said the estim
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IOC searches land for depot project
The Indian Oil Corporation (IOC) is learnt to have sent a team of officials to identify land for the proposed oil depot project in Una district of Himachal Pradesh. The company plans to set up the depot in Una district after the proposed depot project at Kadd village was shelved
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Gas pipeline infra requires Rs 6 tn investment
Union Petroleum Secretary Vivek Rae said the country needs at least an additional 100,000 km length of gas pipeline network across the country. In order to lay this length of pipeline, the country needs
at least Rs 600,000 crore at the rate of Rs 6 crore per km in the next 15-20 years, he said while addressing a sem
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Ministry receives request from GSPC on gas pricing
Reports indicate that the union petroleum ministry received a request from Gujarat State Petroleum Corp (GSPC) to allow the latter to price the natural gas from its Deen Dayal West (DDW) gas field in block KG-OSN-2001/3 on par with imported LNG. According to the request submitted recently, the Gujarat government-owned firm wants the oil ministry to allow it to price its 5.24 million standard cubic meter per d
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Ministry wants panel to discuss gas supply to power plants
Union Power Minister Jyotiraditya Scindia asked AK Antony, Chairman of the Empowered Group of Ministers (EGoM) on 'Gas Pricing and Commercial Utilisation of Gas' to convene a meeting of the panel to restore natural gas supply to power plants. Scindia has called for the meeting as around 13 power plants with an aggregate electricity generation capacity of 5,200 megawatt are closed because of lack of g
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State-run OMCs may get notice from CCI
Under section 3 of the Competition Act, the Competition Commission of India (CCI) is probing an allegation that state-run oil marketing companies (OMCs) are indulging in cartelisation on fuel pricing. According to some media reports, these state-run OMCs may get notice from the panel on the allegation. The Petroleum and Natural Gas Regulatory Board earlie