Oil India (OIL) agreed to explore the development of city or natural gas distribution network in India and overseas in partnership with IOT Infrastructure & Energy Services. Both the firms signed a memorandum of understanding (MoU) in this regard recently. The MoU is for the EPC (Engineering-Procurement-Construction) jobs related to the distribution network of gas
Category: Oil & Gas
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RIL to drill probe well in KG D6
Niko Resources informed that its partner Reliance Industries (RIL) has spud its first exploration well in more than five years on the flagging natural gas fields in KG-D6 block. Niko is the minority partner of RIL in the Krishna Godavari basin block. RIL has spud the MJ-1 exploration well on the Dhirubhai-1 and 3 gas fields in the KG-DWN-98/3 or KG-D6 block in its efforts to explore new reserves to supplement falling
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Cairn India shows interest in downstream sector
Cairn India has shown interest to be a part of a joint venture GAIL India and Rajasthan State Petroleum Corp (RSPCL) for supply of natural gas in Rajasthan. With this, the Anil Agarwal-led Cairn India plans to enter into the downstream sector, which refers to the refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and d
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NMPT handles major share of LPG handling in India
New Mangalore Port Trust (NMPT) handles a major share of total liquefied petroleum gas (LPG) handling in the country. It handled around 2.08 million tonne of LPG in 2011-12, P Tamilvanan, Chairman of the port trust informed. The LPG import facility of HPCL in Mangalore contributes around 1.5 million tonne, S Roy Choudhury, Chairman and Managing Director of HPCL informed
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RIL produces 1.58 tn cubic feet of gas till March 2012
Minister of State for Petroleum Panabaaka Lakshmi informed Lok Sabha that the actual cumulative natural gas production at Reliance Industries' (RIL) D-1, D-3 fields of KG D6 Block up to March 31, 2012, was 1.584 trillion cubic feet against the projected 2.030 trillion cubic feet. The decline in output in 2011-12 is attributed to water or sand ingress in six out of the total 18 gas producing wells in the D-1 and D
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Investors cast doubt on output forecast of Cairn India
Reports indicate that investors have doubts on the exit production (production at the end of the fiscal) forecast of Cairn India for 2013-14. The Anil Agarwal-promoted firm expects its exit production for March 2014 to be in the range of 210-215 kilo barrel per
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Kerala govt assures court to bear liability
Adovcate General of Kerala government assured the Kerala High court that the state government would bear the liability of oil marketing companies if the petition filed by Kerala State Transport Corporation was finally dismissed. Following this, the court restrained oil companies from increasing the price of diesel being supplied to cash
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CSL making 20 vessels for ICG
Cochin Shipyard (CSL) is making a series of 20 fast patrol vessel (FPV) for the Indian Coast Guard (ICG). ICG awarded the contract to CSL in 2010 and the delivery of the last vessel is slated for 2017. CSL recently launched the second FPV - Abheek - for the guard. The vessels have a designed speed of 33 knots. The vessels are useful for fisheries protection and monitoring, cost
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SEEPCO, ONGC may close $2 bn oil and gas deal
Sterling Energy and Exploration Production Company (SEEPCO) may sell its 25-30 percent stake in four hydrocarbon blocks in Nigeria to ONGC Videsh, the overseas arm of Oil & Natural Gas Corp (ONGC). The value of the deal, which is not yet finalised, is expected to be $2 billion. Both the companies entered into a confidentiality agreement for the deal and OVL is reportedly conducting due
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Supply may outstrip demand in medium term
Media reports indicate that although the global demand and supply for crude oil and natural gas is in balance, in the medium term supply may outstrip demand. In the short-run, higher production from shale in North America is being offset by substantial outages elsewhere, principally as a result of sanctions on