Between 2014 and 2016, Cairn India has planned a net capital investment of $3 billion in its Rajasthan oil and gas field, Chief Executive P Elango said in the company's annual report. By March 2014, Cairn India aims to raise crude oil production from the Rajasthan asset by as much as 23 per cent to 215,000 barrels per day
Tag: hydrocarbon
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Hyderabad faces shortage of CNG
Some parts of Hyderabad are facing shortage of
Compressed Natural Gas (CNG) as oil companies are allegedly not supplying the fuel in required quantity at the 12 CNG outlets in the city and its surroundings. Each outlet requires 1,500 to 1,800 kg of CNG every day but oil companies do not supply the required quantity. They hardly supply about 1,000 kg to each outlet, said Rajiv Amaram, Joint Secretary (South), Conf
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ONGC adds reserves in FY13
State-run oil and gas explorer ONGC added initial-in-place reserves of 265.65 million tonne oil plus oil-equivalent gas during 2012-13. According to internal assessment, this would mean ultimate reserves of 84.84 million tonne of oil plus oil-equivalent gas. Currently, the firm produces 44-45 million tonne of oil plus oil-equivalent gas. The firm has much more oil, as well as oil-equivalent gas because of the discoveries mad
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Lack of infrastructure prevents IOC from investing in Canada
AMK Sinha, the director of planning and business development at Indian Oil Corp (IOC) informed reporters that lack of pipeline infrastructure in Canada is hindering the firm's investment plan in the country. Although the firm intends to invest in CanadaÂ’s energy sector to gain access to crude and natural gas exports, lack of infrastructure makes it very difficult, Sinh
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OVL proposes to invest more capital in Vietnam block
ONGC Videsh (OVL), the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is awaiting government approval for investing an additional $65.67 million in an hydrocarbon block in Vietnam. In 1988, OVL acquired exploration license for Block 06.1, in which it holds 45 per cent stake. TNK Vietnam BV is the operator with 35 per cent stake and the remaining 20 per c
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Firms await outcome of EGoM meet on gas allocation
Industry players are awaiting the outcome of the impending meeting of the empowered group of ministers (EGoM) to discuss the allocation and pricing of natural gas. During the meeting, the ministerial panel would discuss two separate proposals, one for raising prices of gas produced by blocks auctioned under new exploration licensing policy (Nelp) and the other for allocation of gas prod
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Pricing pooling for natural gas more complex than that for coal
Some experts feel that the issue of price pooling for natural gas is more complex than that for coal. This is because, unlike coal, there is no monopoly producer for natural gas and hence fixing a uniform price is even trickier. A six-member committee headed by the head of the Prime Minister's Economic Advisory Council, C Rangarajan, was tasked with suggesting a formula for gas
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Govt forms panel to decide on extension of lease
Press reports indicate that the union government formed an inter-departmental committee to extend petroleum leases in producing oil and gas blocks. Recently, the committee, chaired by oil ministry's additional secretary & financial adviser (AS&FA) SC Khuntia, held its first meeting. However, the committee did not discuss any particular case because of absence of a key member, repo
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Govt may auction 68 blocks under NELP X
Media reports indicate that around 68 oil and gas blocks may be auctioned by the government during the the 10th round of New Exploration Licensing Policy (NELP) in 2013-14. Union petroleum ministry and the Directorate General of Hydrocarbons (DGH) are in the process of securing various clearances for offering the
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ONGC aims 100% rise in oil, gas output by 2030
Sudhir Vasudev, Chairman and Managing Director of Oil and Natural Gas Corporation (ONGC) informed that the firm plans to double the oil and gas production in India by 2030. Vasudev reasoned that investing in gas fields will benefit the entrepreneurs in view of the demand for gas in the country