Reliance Industries (RIL) Chairman Mukesh Ambani and Bob Dudley, head of global energy firm BP met Prime Minister Manmohan Singh and some government officials recently to discuss their investment plans. The two companies, that are jointly operating the KG D6 gas basin in Andhra Pradesh, asked government to clarify regulatory issues plaguing the oil and gas secto
Tag: energy
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Tamil Nadu needs 2 LNG import terminals
The Tamil Nadu government estimated that it needs two liquefied natural gas (LNG) import terminals of 5 million tonne each, including the proposed Ennore LNG terminal to meet gas demand. The state government plans to use LNG in order to reduce its dependence on coal-based power projects and help address its energy security.
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Oil ministry takes efforts to ensure CAG’s audit
Union Petroleum Secretary Vivek Rae said his ministry was making all efforts to see that the Comptroller and Auditor General (CAG) is able to audit Reliance Industries' (RIL) spending on KG-D6 block. He said there have been some differences between CAG and RIL on the scope of audit but they are being resolved. He expressed hope that CAG would be able to resume audit by either month or early next
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EIA report says India is 4th largest energy consumer
In its latest report on energy outlook for India, the US Energy Information Administration (EIA) said India is the fourth largest energy consumer in the world after the United States, China, and Russia. But the per capita energy consumption of India remains lower than that of developed countries, says the repo
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India’s gas shortage pegged at 155 mn cu m per day in 12th plan
According to a government estimate, India may face shortage of natural gas to the tune of 155 million cubic metre per day during the 12th Five Year Plan period (2012-17). This is expected to rise to 225 million cubic metre per day in the 13th Five Year Plan. According to a report by an international research agency, India accounts for 11 p
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Minister asks secretary to address RIL issue
Union Petroleum Minister Veerapa Moily asked the newly appointed oil secretary Vivek Rae to take steps to resolve the difference of opinion between Reliance Industries (RIL) and the Comptroller and Auditor General (CAG). Following the direction, Rae is reportedly making efforts to resolve some differences between the company and the auditor
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CAG to conduct comprehensive audit
The Comptroller and Auditor General (CAG) will conduct two separate "performance audits" in the oil and gas sector. The first one pertains to the government's role in the supply and pricing of natural gas between 2007-08 to 2011-12, which will cover the pricing of RIL's KG-D6 gas, its allocation to various consumers and supply cuts due t
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Experts suggest import parity pricing for gas
Experts suggest government to introduce import parity pricing for natural gas as it is a cleaner fuel and leaves a far smaller environmental footprint. Presently, crude oil produced in the country is given import parity price. This is however denied for gas. If the same well produces oil and gas, then the former receives impor
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Experts suggest import parity pricing for gas
Experts suggest government to introduce import parity pricing for natural gas as it is a cleaner fuel and leaves a far smaller environmental footprint. Presently, crude oil produced in the country is given import parity price. This is however denied for gas. If the same well produces oil and gas, then the former receives impor
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GAIL mulls foray into shipping sector
State-run Maharatna firm GAIL India plans to foray into shipping business in order to ferry the natural gas that it would source from different countries. The company is yet to decide whether to have its own ships or charter ships. But, it intends to have six to seven ships