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
Category: Oil & Gas
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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
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ONGC to invest Rs 40.5 bn on 2 projects
At a recent board meeting, the state-run energy explorer ONGC decided to invest over Rs 4,050 crore to upgrade Western offshore facilities (on the Arabian Sea) through two major projects. The first project includes revamp of Unmanned Platforms Phase Ćā II in Mumbai High and Neelam & Heera Asset. The total revamp job is expected to be completed by pre-monsoon 2016
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Govt clarifies on FDI in oil and gas projects
According to the extant Foreign Direct Investment (FDI) policy, FDI, up to 100 percent, is permitted, under the automatic route, for exploration activities of oil and natural gas fields. This information was given by the Minister of State in the Ministry of Commerce & Industry, D Purandeswari in a written reply in the Rajya Sabha
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AP govt takes steps to expedite project at Gangavaram Port
Andhra Pradesh government is taking steps to evolve a time-bound action plan to implement the Rs 4,500-crore LNG terminal project at Gangavaram Port. The proposed terminal, which is being jointly set up by the Gangavaram Port, and the Petronet LNG, will have an initial capacity of 5 million tonne per year. Work on th