Industry watchers feel that the budget 2013-14 was a mixed bag for the oil and gas sector. While the Finance Minister announced that his government would soon release shale gas policy and review the pricing of natural gas, industry players are cautious. They feel that one has to wait and watch how the
Category: Oil & Gas
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Survey suggests govt to take steps to boost gas output
Economic Survey 2012-13 suggested government to take measures to boost natural gas output in the country. It may be noted that the average natural gas production in 2011-12 declined 1 percent to 130 million metric standard cubic metre per day from the previous year
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Share of imported gas may rise
Reports suggest that the share of import in total natural gas consumption in the country may rise from the current level of 40 percent as domestic production fails to keep pace with growth in demand. Recently, the country's biggest liquid gas importer Petronet LNG has notched up a world record by offloading its 1,000th shipload at its Dahej terminal. This is the first for a
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Demand for oil may improve in 2013
Brokerage firm Nirmal Bang expects demand for crude oil to improve slightly in 2013 following lower growth in 2012 on account of muted economic recovery. Demand is expected to grow by 1 mpbd or 0.9 percent approximately on a year-on-year (y-o-y) basis in 2013 compared to a fall of 0.4 percent last year. Dem
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Experts suggest import parity pricing for gas
Experts suggest government to introduce import parity pricing for natural gas as it is a cleaner fuel and leaves a far smaller environmental footprint. Presently, crude oil produced in the country is given import parity price. This is however denied for gas. If the same well produces oil and gas, then the former receives impor
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Experts suggest import parity pricing for gas
Experts suggest government to introduce import parity pricing for natural gas as it is a cleaner fuel and leaves a far smaller environmental footprint. Presently, crude oil produced in the country is given import parity price. This is however denied for gas. If the same well produces oil and gas, then the former receives impor
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Jet fuel price increased by 3.8%
Jet fuel prices were on February 28 hiked by 3.8 per cent, the second increase in rates in as many months. Aviation Turbine Fuel, or ATF, price at T3 terminal in Delhi was hiked by Rs 2,519.83 per kilolitre (kl), or 3.8 per cent, to Rs 70,080.87 per kl from midnight tonight, according to Indian Oil Corp, the nation's largest fuel retailer.
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Minister seeks suggestion on implementing dual price system
Pointing out the difficulty in selling diesel at two different rates at the same petrol pump, Finance Minister P Chidambaram said the government is open to suggestions on implementing dual rates provided two different prices does not “lead to black marketing”. Speaking at the Rajya Sabha, the minister said the government knocked some heads together to see if it is possible to have dual prices of diesel at the same retail outle
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CAG complains against RIL to oil ministry
Reports indicate that the Comptroller and Auditor General (CAG) wrote to the union petroleum minister M Veerappa Moily that Reliance Industries (RIL) was not cooperating with the audit of the spending on the flagging KG-D6 fields. It is learnt that the company declined to share the documents related to its legal case against the oil mini
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ONGC uses floatover installation methods for 1st time
In a noteworthy milestone for offshore exploration and development, ONGC has used the floatover installation methods for the first time in India. The company installed a 13,000 tonne process platform and an 8,000 tonne living quarters platform on the sea in order to develop its B-193 field in the Mumbai offshore