TK Ananth Kumar, Director (Finance) of Oil India informed that the firm would borrow from the overseas market to fund its acquisition of the Mozambique gas project. He said the firm is considering to raise 80 per cent to 90 per cent of its share of $1 billion (in the acquisition).
In other words, the firm may raise a maximum of $900 million from overseas markets
Tag: natural gas
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Oil India to borrow to fund acquisition
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RGPPL shuts operation in Dabhol power plant
Since June 6, the 1,967 mw-Dabhol power plant in Maharashtra has been closed owing to lack of natural gas. Ratnagiri Gas & Power (RGPPL), which owns the plant, is demanding gas linkage for the plant in order to restart generation. This is the second time the project remains shut after April 2013, Between February 21 and April 2, the plant remained closed because of a lack of gas supply.
Gene
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RIL relinquishes 2 gas fields at KG Basin
Owing to non-lucrative natural gas prices, Reliance Industries (RIL) relinquished two natural gas fields at the KG Basin, media reports indicate. After RIL discovered gas in the two blocks, it took them to the Directorate General of Hydrocarbons (DGH) to declare them commercially viable — declaration of commerciality, in jargon
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Impact of gas price hike on other sectors
According to some estimate, an increase in the price of natural gas by $1 would result in fertiliser plants taking a hit of Rs 3,155 crore per annum for producing 23 million tonne (mn t) of urea in 2013-14 and Rs 4,144 crore a year for 32 mn t from 2017-18. As for the power sector, the the impact of every dollar increase in the price of natural gas would be about Rs 10,040 crore per annum for generating 28,000 mega watts power
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Experts suggest govt to liberalise pricing regime
Experts opine that the government must incentivise private companies to produce more natural gas by giving them freedom to fix market-linked price for the fuel. The liberal pricing regime in the US allowed companies to invest in new technologies in the oil and gas sector. The abundance of shale rocks in the Ame
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Experts suggest govt to liberalise pricing regime
Experts opine that the government must incentivise private companies to produce more natural gas by giving them freedom to fix market-linked price for the fuel. The liberal pricing regime in the US allowed companies to invest in new technologies in the oil and gas sector. The abundance of shale rocks in the Ame
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Thermal plants operated at low peak load factor
Thermal power plants in the country operated at an average peak load factor (PLF) of 69.95 percent, which is a nine-year low in 2012-13 owing to insufficient availability of coal. Given the stagnation in the production of coal and natural gas, industry observers raise doubt as to how
the raw material needs of our future power projects would be met. In 2013-14, India's power generation capacity is expe
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Governor clears Ordinance for pipeline project
Jammu and Kashmir Governor NN Vohra signed the Ordinance which would allow state government to acquire land for the Rs 880 crore Bhatinda-Srinagar gas pipeline project. The project, which involves laying of the 750-kilometer gas pipeline from Bhatinda in Punjab to Srinagar via Jammu, is scheduled for completion in three years. Gujarat State Petronet Limited (GSPL) received contract for the project in June 2011
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Law ministry gives opinion on gas pricing
Government must adopt a single pricing, five-year stable regime for natural gas instead of a phased regime proposed by the petroleum ministry, union law and justice ministry said in its opinion. The petroleum ministry sought the suggestion of the law ministry on the proposal to shift to market-based pricing for domestically produced natural
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Minister wants to reduce crude oil import
Union Petroleum Minister Veerappa Moily said he wants to reduce the amount of crude oil imported in the country 50 percent by 2020, 75 percent by 2025. By 2030, he wants India to achieve self-sufficiency and energy independence, Moily said while addressing the International Energy Forum conference held recently