Reports indicate that Oil and Natural Gas Corp. (ONGC), the overseas unit of state-owned, decided to start production from its oil field in south Sudan hoping that the issue of transit fee for may be resolved amicably. Daniel Peter Othol, South SudanÂ’s ambassador to India mentioned that crude oil would flow by the end of this
Category: Oil & Gas
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India’s gas shortage pegged at 155 mn cu m per day in 12th plan
According to a government estimate, India may face shortage of natural gas to the tune of 155 million cubic metre per day during the 12th Five Year Plan period (2012-17). This is expected to rise to 225 million cubic metre per day in the 13th Five Year Plan. According to a report by an international research agency, India accounts for 11 p
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GLL to rope in strategic investor
GSPC LNG (GLL) is a special purpose vehicle (SPV), promoted by the Gujarat government through Gujarat State Petroleum Corporation (GSPC), the leading state sector oil and gas entity and other state sector entities in partnership with Adani Enterprises (AEL).
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ONGC bids for 20% stake in Rovuma field
Media reports indicate that the public sector energy explorer ONGC (ONGC) has bid for a 20 percent stake in the Rovuma offshore field at Mozambique jointly with Oil India (OIL). US explorer Anadarko Petroleum Corp and Videocon Group,
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Cairn India, ONGC to produce oil from Aishwariya field
Cairn India and ONGC, which is a 30 per cent joint venture partner in the former's Aishwariya oil field in Rajasthan, hope to close 2013-14 at a production rate of 200,000-215,000 barrels of oil a day from the field. Aishwariya is the third largest discovery in the Rajasthan block and can produce higher than the current production rate approved under the field development plan.
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GSPC may start production from KG basin block
By the middle of the year 2013, Gujarat State Petroleum Corp (GSPC) may start producing natural gas from the Deen Dayal (DD)-West gas fields in the Krishna Godavari basin (KG basin), media reports indicate. In mid-2005, the Gujarat government-owned GSPC announced a gas discovery at the DD-west block. Such
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Govt may complete work on Permude cavern by year end
Government has completed 95 per cent work on the Permude underground rock caverns for crude oil with a storage capacity of 2.5 million metric tonne of crude oil, media reports indicate. The project was originally slated for completion in September last year, but it is expected to be completed by the end of 2013. From May, government would begin work on laying a 12-km pipeline from Thokur to Perm
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OMCs ask Kerala govt to forgo sales tax
State-run oil marketing companies (OMCs)
Indian Oil Corporation and Hindustan Petroleum Corporation argued that Kerala government must forgo the sales tax of Rs 12 imposed on a litre of diesel. The oil companies argued this in response to a petition filed by the Kerala State Road Transport Corporation (KSRTC) in the state High Court against these comp
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Oil import from Iran set to fall further in FY13
Media reports indicate that India's crude oil import from Iran may fall from 18.1 million tonne (mn t) in 2011-12 to about 13 mn t in 2012-13 because of sanction imposed by Western countries on the gulf nation. During the April-December 2012, Iran, which was IndiaÂ’s second biggest supplier of crude oil after Saudi Arabia in 2010-11, supplied
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OMCs to share aviation fuel facilities with Pvt firms
In what could open the aviation turbine fuel (ATF) market for private companies, the State-run oil marketing companies (OMCs) have agreed, in-principle, to share their storage facilities to feed Asia's largest terminal at New Delhi. The decision was taken during a meeting between aviation and petroleum ministries last week, a senior government official said. With this move, private ATF sellers will get overnight access to assets created by government firms, said a senior executive with an OMC.