In a move that may boost oil and gas output in the country, the union petroleum ministry decided to allow exploration in mining lease area with cost recovery on establishment of commerciality, the ministry said in an order. Thus, oil companies would be allowed to explore in already producing areas and all approved exploration cos
Tag: Cairn India
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Contractors allowed to explore in mining lease
In a move that may boost oil and gas output in the country, the union petroleum ministry decided to allow exploration in mining lease area with cost recovery on establishment of commerciality, the ministry said in an order. Thus, oil companies would be allowed to explore in already producing areas and all approved exploration cos
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EAC clears Cairn's plan
The Expert Appraisal Committee (EAC) gave conditional clearance to the plan of Cairn India to raise crude oil output capacity from its Mangala Processing Terminal in Rajasthan. The approval would enable Cairn India to raise oil production from 175,000 bpd to 200,000 bpd.
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Cairn India aims 215,000 bopd output in FY14
Cairn India aims to produce 215,000 barrel of oil per day (bopd) during 2013-14 from its Rajasthan block. This is based on the company managementÂ’s guidance and the expectation that the Bhagyam field would produce 40,000 bopd only by the second half of 2013
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Cairn India posts 48% rise in net profit
The consolidated net profit of Cairn India rose 48 per cent to Rs 3,344.9 crore in the October-December 2012 quarter from the year-ago period. The company announced a 38 per cent growth in consolidated revenue to Rs 4,277.6 crore during this perio
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EAC clears Cairn’s plan to raise output
The Expert Appraisal Committee (EAC) under the union environment ministry gave conditional clearance to the plan of Cairn India to raise crude oil output capacity from its Mangala Processing Terminal in Rajasthan. The approval would enable Cairn India to raise oil production from 175,000 barrels per day (bpd) to 200,000 bpd and associated gas from 35 to 40 million stan
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Cairn India awaits nod for exploration
The management committee that overseas the production of crude oil by Cairn India in the Rajasthan oilfields is expected to meet soon. Cairn India is awaiting the approval of the committee for exploration in the delineated area in the Rajasthan oil field so that it could raise oil production. Once approved, the company would be able to raise prod
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Brokerage expects mixed profitability of oil and gas firms
In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter. The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profi
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Brokerage expects mixed profitability of oil and gas firms
In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter. The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profi
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Oil India to rope in foreign consultant
Oil India plans to hire an international consultant for gaining technological know-how to exploit heavy oil from its newly discovered wells. The company recently discovered oil reserves in an oil well in the Nachna area at a depth of 1,229 m. The firm also found oil reserves in another well two months ago. Oil found in both these wells comes in the category of heavy oil but India still does not have the technique to exploit heavy oil. During exploration works, oil and gas was found in many areas