Edward S Sampson, President and CEO of Niko Resources, the Canadian oil company said the business environment in India appears to have improved significantly as evidenced by the release of a government-appointed committee's report on domestic gas pricing. He said this in a message to shareholders. It may be noted that the firm is jointly exploring hydrocarbon with Reliance Industries in the D6 and NEC-25 blocks.
Category: Oil & Gas
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Niko feels improvement in business condition in India
Edward S Sampson, President and CEO of Niko Resources, the Canadian oil company said the business environment in India appears to have improved significantly as evidenced by the release of a government-appointed committee's report on domestic gas pricing. He said this in a message to shareholders. It may be noted that the firm is jointly exploring hydrocarbon with Reliance Industries in the D6 and NEC-25 blocks.
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Refineries expect govt to address insurance issue
Petroleum refiners in the country are awaiting the government to solve the insurance issue of crude oil imported from Iran. The sanction imposed by western countries prohibits any firm from insuring crude oil imports from the gulf nation
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Refineries expect govt to address insurance issue
Petroleum refiners in the country are awaiting the government to solve the insurance issue of crude oil imported from Iran. The sanction imposed by western countries prohibits any firm from insuring crude oil imports from the gulf nation
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ONGC drills well in east coast
On January 23, the ultradeep water drillship DDKG1 spudded well NA7-1 in exploratory block KG-DWN-2004/1 in east coast India at a water depth of 3165 metre (10,385 feet), state-owned Oil and Natural Gas Corp (ONGC) informed. With this, ONGC set a world record for drilling well in deepest water depth by an offshore drilling rig, the firm said in a statement
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Net profit of ONGC declines 17.5%
The net profit of state-run Oil & Natural Gas Corp (ONGC) fell 17.5 percent during Oct-Dec 2012 to Rs 5,563 crore from Rs 6,741 crore in the same period previous year. The company attributed the contraction in the bottomline to a higher tax on crude oil and fall in its oil and gas output. The cess on crude oil was raised 80 perc
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OMCs may decide individually on diesel price change
Reports suggest that oil marketing companies (OMCs) may decide on hiking diesel prices individually as collective decision invites suspicion of cartelisation from the Competition Commission of India (CCI). In 2010, Reliance Industries had petitioned CCI, alleging the government OMCs acted as a cartel while pricing their aviation turbine fuel supply for Air India, on a te
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OMCs may decide individually on diesel price change
Reports suggest that oil marketing companies (OMCs) may decide on hiking diesel prices individually as collective decision invites suspicion of cartelisation from the Competition Commission of India (CCI). In 2010, Reliance Industries had petitioned CCI, alleging the government OMCs acted as a cartel while pricing their aviation turbine fuel supply for Air India, on a te
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201