Essar Oilfields Services is in the process of procuring six on-shore drilling rigs for coal bed methane (CBM) at a cost of about $36 million. These rigs have greater mobility as required in CBM drilling,
Tag: coal bed methane
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ONGC offloads stake in coal bed methane blocks
State-run energy explorer Oil and Natural Gas Corporation (ONGC) offloaded stake in four of its coal bed methane (CBM) gas blocks to foreign and domestic firms through a recently held auction. The blocks in which the company wanted to divest stakes are Jharia and Bokaro blocks in Jharkhand and North Karanpura and South Karanpura assets in Raniganj, West
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Essar Oil to meet demand of villagers
According to media reports, the meeting between the agitating villagers of Dhabani in West Bengal and Essar Oil officials on the firm's coal-bed methane (CBM) project ended successfully. The villagers committed that they will not disturb work on the project. In exchange for this commitment, the officials of the firm agreed to meet some of the demands of the
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Ministers study draft note on gas pricing
Union Oil Minister M Veerappa Moily informed that the draft note on raising the price of natural gas is under circulation before all the ministries. He also said that his ministry would send the proposal to the cabinet after the consultation of various ministries. The draft note proposes to raise the price of gas produced by state-owned ONGC and OIL from 2013 itself and that for Reliance Industries in 2014
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Ministers study draft note on gas pricing
Union Oil Minister M Veerappa Moily informed that the draft note on raising the price of natural gas is under circulation before all the ministries. He also said that his ministry would send the proposal to the cabinet after the consultation of various ministries. The draft note proposes to raise the price of gas produced by state-owned ONGC and OIL from 2013 itself and that for Reliance Industries in 2014
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ONGC's CBM block sale
Bids invited by ONGC for picking up its stake in four coal-bed methane (CBM) blocks did not receive strong response. ONGC is said to have received bids from only three firms for the blocks. These firms are UK-listed Great Eastern Energy Corporation (GEECL), Brisbane-based Dart Energy and a consortium of Jindal Steel and Deep Industries.
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Oil ministry proposes to adopt new gas price formula
Media reports suggest that the union petroleum ministry wants the government to adopt the pricing formula for natural gas proposed by the Rangarajan Committee. Specifically, the ministry wants the pricing formula to apply to all forms of natural gas - conventional, shale and coal-bed methane (CBM). Also, the ministry prop
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Ministry works on coal bed methane policy
Union Minister for Petroleum and Natural Gas Veerappa Moily informed reporters that his ministry is in the process of revising the coal-bed methane policy introduced in 1997 in order to suit present conditions. He said the ministry would discuss with the coal ministry in this regard. Meanwhile, Moily said his ministry would be putting befo
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RBI allows Essar Oil to raise $2.2 bn via ECB
Reserve Bank of India (RBI) allowed Essar Oil to mop up a maximum of $2.2 billion through external commercial borrowings in order to repay partially its debt of $2.8 billion. The company is said to be in discussion with banks to raise the amount as it got the required approval. The company. however, has not finalized the amount to be raise
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ONGC gets poor response for CBM block sale
Bids invited by state-run oil explorer Oil and Natural Gas Corporation (ONGC) for picking up its stake in four coal-bed methane (CBM) blocks did not receive strong response. ONGC is said to have received bids from only three firms for the blocks. These firms are UK-listed Great Easte