Power Minister Jyotiraditya Scindia said 12 power projects, with a total generation capacity of 2,978.62 mw, are lying idle because they don't receive natural gas from Reliance Industries' KG-D6. During first and second quarter of 2013 (till August 19, 2013), these projects, which are solely dependent on gas supply from KG-D6, did not
Tag: exploration
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Ministry norms hinder ONGC’s exploration plan
According to media reports, the restriction on exploration in 'no-go' areas imposed by the ministry of defence (MoD) may hinder Oil and Natural Gas Corporation's (ONGC) business plan. The public sector firm plans to rope in technical parters for its deep water and ultra deep water blocks, which fall unde
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Finance ministry opposes proposal of oil ministry
In a move that may delay the introduction of shale gas policy, the union petroleum ministry may have to work on a fresh proposal and another round of consultations could take place. This is because the finance ministry opposed the petroleum ministryĆās move to allow existing oil and gas explorers to find shale gas in their respective blocks.
The
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ONGC to double its output in Assam
ONGC Assam asset plans to comĆĀ”ĆĀ”pĆĀ”lete projects on time so as to double its production by 2030 from the current level of 1.21 million tonne per year. More wells need to be drilled with the latest technology, emphasis has to be laid on opening up new horizons by strengthening exploration activities
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Import of natural gas to operate power plants
The decline in the supply of natural gas from Reliance Industries' (RIL) KG D6 basin to gas-based power plants may prompt these units to import costly
R-LNG to operate their facilities. Anticipating sufficient gas availability, power producers set up a substantial amount of gas-based power capacity in recent
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RIL to ramp up gas output from $6.5 bn investment
By 2019-20, Reliance Industries (RIL) aims to ramp up natural gas production from its KG-D6 fields to 60 mmscmd and to achieve this the firm plans to invest $6.5 billion. Owing to water and sand ingress in some of the wells, gas output from the fields declined to around 14 mmscmd recently from a peak of 69.43 mmscmd in March 2010
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Minister asks firms to invest in oil and gas sector
The Petroleum Minister for Petroleum and Natural Gas M Veerappa Moily has emphasised the need for greater investment in the oil and gas sector. He said this while addressing an Assocham Seminar on Indian Economy in the context of global energy scenario. The minister said the government was committed to deal with the energy security issues. It is in this context that the gas pricing formula was recently revised based on th
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Govt sticks to formula rather than any fixed price
Even as the union cabinet recently approved the hike in domestic natural gas price to $8.4 million metric British thermal unit (mmbtu) from April 2014, the government does not stick to any fixed price, some media reports indicate. According to these reports, the government has left the market condition to fix the price based on the formula proposed by the Rangarajan committee
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Department suggests cap on gas pricing under new regime
The department of expenditure of the union finance ministry suggested the oil ministry to fix a ceiling price for domestic natural gas under the Rangarajan formula. On June 27, the Cabinet Committee on Economic Affairs cleared the adoption of the Rangarajan pricing formula for domestic natural gas from April 2014. But while adopting this formula, the expenditure department suggested that gas producers should not be allow
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S&P expects improvement in EBITDA of ONGC
Andrew Wong, Credit Analyst at Standard & Poor's expects ONGC's EBITDA to improve by at least $2.0 billion each year on average from fiscal 2014-15 once India implements natural gas price increase. Therefore, the state-run energy explorer may strengthen its cash flow and profitability from the next fiscal year, exceeding the earlier expectations, he