According to a joint statement from Reliance Industries (RIL) and BP, their jointly proposed $5 billion investment includes testing of a new layer of natural gas under the rapidly depleting fields in the KG-D6 fields. Both the firms agreed to invest jointly of $5 billion in the next few years to boost natural gas output in the flagging Krishna Godavari (KG) D6 basin gradually from 201
Category: Oil & Gas
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Minister mulls extending Dabhol-Bangalore pipeline
Union Petroleum Minister Veerapa Moily informed that his ministry was thinking of extending the Dabhol-Bangalore gas pipeline between Chitradurga and Mangalore. He said this after commissioning the 1,000 km long gas pipeline between Dabhol in Maharashtra and Bidadi near Bangalore. The pipeline was laid by GAIL at an inve
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Minister mulls extending Dabhol-Bangalore pipeline
Union Petroleum Minister Veerapa Moily informed that his ministry was thinking of extending the Dabhol-Bangalore gas pipeline between Chitradurga and Mangalore. He said this after commissioning the 1,000 km long gas pipeline between Dabhol in Maharashtra and Bidadi near Bangalore. The pipeline was laid by GAIL at an inve
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PNGRB to revive licensing for CGD networks
Petroleum and Natural Gas Regulatory Board (PNGRB) is expected to revive the licensing process for city gas distribution (CGD) system. Since 2009, there was no progress in CGD licensing on account of legal obstacles in the board's functioning.
According to media reports, the downstream oil and gas regu
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PNGRB to revive licensing for CGD networks
Petroleum and Natural Gas Regulatory Board (PNGRB) is expected to revive the licensing process for city gas distribution (CGD) system. Since 2009, there was no progress in CGD licensing on account of legal obstacles in the board's functioning.
According to media reports, the downstream oil and gas regu
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ONGC, BPCL to sign pact for terminal project
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 Mangalore. The MoU would be signed in the next 15 days, the minister said after commissioning a Rs 4,500-crore pipeline from Dabhol LNG terminal to Bangalore set up by GAIL
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ONGC, BPCL to sign pact for terminal project
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 Mangalore. The MoU would be signed in the next 15 days, the minister said after commissioning a Rs 4,500-crore pipeline from Dabhol LNG terminal to Bangalore set up by GAIL
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Minister hopes to unveil shale gas policy in a month
Oil Minister M Veerappa Moily informed media persons that his ministry was in the process of putting out a note on the draft shale gas policy for the consideration of the cabinet. He hopes that his ministry would announce the shale gas policy in a months time. The policy would enable the expl
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PwC India suggests tax benefits for oil & gas sector
PwC India has suggested the government to give some tax benefits to the oil and gas sector. Deepak Mahurkar, Leader Oil & Gas, PwC India recommended the government to make all petroleum sector transactions eligible for classical GST benefit. He proposed the government to include natural gas and coal bed methane in the 'mineral oil' category, in order to q
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Plan panel chief expects nod for several oil and gas blocks
Planning Commission Deputy Chairman Montek Singh Ahluwalia informed that the government may approve exploration in many of the 39 oil and gas blocks that await defence clearance in next two weeks. Agency reports indicate that officials from ministries of defence and petroleum have sorted out issues at majority of the 39 blocks