Some companies in the oil and gas sector feel that the budget has not provided enough tax incentives for the upstream and the downstream segments of the sector. For example, upstream companies were expecting the budget to remove service tax on service providers to E&P companies favourably, since that drains away a substantial part
Category: Oil & Gas
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Steel Exchange gets gas supply from ONGC
Steel Exchange India is learnt to be getting gas from the ONGC's isolated fields in the KG Basin under direct marketing. The upstream oil major is said to be supplying the gas at the rate of 10,000 standard cubic metre per day. The fist of these fields at Vygreswaram in East Godavari dist
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Revenue share contracts may raise risk for explorers
Deepak Mahurkar, leader, oil and gas, PricewaterhouseCoopers opined that a move towards revenue-sharing mechanism in exploration contracts exposes investors to more risks of investments, and that may dissuade large oil companies from India. It may be noted that the union Finance Minister P Chidambaram announced in his budget speech that a new
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CGD segment in limbo
The government introduced the Petroleum and Natural Gas Regulatory Board to regulate and develop the City Gas Distribution business in India. However, the sector is still facing many challenges on its way,
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Listed CPSUs suffer value erosion
While the listed CPSUs showed a dismal growth performance during April-December 2012, their net profit contracted just over seven per cent during the period.
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Improving offshore efficiency
NPCC Engineering has successfully created a well head platform at WO-16 and SB-14 cluster field located at South East of SH process complex of Mumbai High Field in water depth of 75 to 80 m, with the help of Tekla's 3D BIM-based software.
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Indian companies need to invest more in R&D
To stay competitive, companies have to be on their toes to cope up with integration of new technologies and sustain it in the long run, says Amit Gupta, CEO, Essar Projects (Hydrocarbons),
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ONGC, BPCL pact
Union Petroleum Minister M Veerappa Moily informed that state-run oil firms ONGC and Bharat Petroleum Corp (BPCL) would enter into a memorandum of understanding (MoU) for setting up a Liquefied Natural Gas (LNG) terminal at
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Share of imported gas
Reports suggest that the share of import in total natural gas consumption in the country may rise from the current level of 40 per cent as domestic production fails to keep pace with growth in demand. Recently, Petronet LNG has notched up a world record by
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Share of imported gas
Reports suggest that the share of import in total natural gas consumption in the country may rise from the current level of 40 per cent as domestic production fails to keep pace with growth in demand. Recently, Petronet LNG has notched up a world record by