The Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan has informed the Lok Sabha that the Ministry of Petroleum & Natural Gas has signed MoUs (Memorandums of Understanding) with Oil & Gas CPSEs (Central Public Sector Enterprises) to enhance production of oil and gas for meeting domestic demand' Under this agreement, the CPSEs have undertaken to achieve the targets set in the agreement at the beginning of the year.
Tag: natural gas
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International Gas Union showcases crucial role of gas in energy policy
The International Gas Union, the global voice for the natural gas industry, has issued a new report outlining the essential role of natural gas in global energy policy. The findings have significant implications for India, and its desire to tackle growing air quality issues in a sustainable and economical manner while meeting its commitments towards climate change
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Strategic Petroleum Reserves created at 3 locations
Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan has informed the Rajya Sabha in a written reply that under the Strategic Petroleum Reserve project Phase-I, underground rock caverns for storage of 5.33 MMT of crude oil at three locations, viz. Vishakhapatnam (1.33 MMT), Mangalore (1.50 MMT) and Padur (2.5 MMT) have been created.
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KG-D6 | RIL hit by $380 mn additional penalty
The government has slapped an additional penalty of $380 million on Reliance Industries and its partners for producing less than targeted natural gas from the eastern offshore KG-D6 fields.
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Strategic petroleum caverns to be ready by May
The Indian Strategic Petroleum Reserve Ltd (ISPRL) will complete construction of the caverns in Mangaluru and Padur by March and May 2016 respectively.
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India´s oil demand to be highest: IEA
According to the IEA´s World Energy Outlook-2015 report, India´s oil demand is projected to grow by 6 mln barrels per day (mb/d) from 3.8 mb/d in 2014 to 9.8 mb/d by 2040.
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Industrial development along ports to get a push
The shipping ministry is set to launch the National Perspective Plan (NPP) by January next year, aimed at comprehensive and integrated development of coastline.
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Govt slashes natural gas price by 16%
The government, at end September, cut natural gas prices by 16 per cent to $4.24 per unit for the six month period, beginning October 1. The price cut is the second reduction in rates ever, the first being on April 1.
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Ministry allows R-LNG supply to RCF units
The Fertiliser Ministry has allowed swapping of natural gas from the KG-D6 reserve being supplied to Rashtriya Chemicals and Fertilizers (RCF) units located in Maharashtra with R-LNG, thereby facilitating an additional supply of 2.2 mmscmd to Andhra Pradesh and Telangana, according to an official release.
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Reliance beats IOC in race to supply diesel to Railways
Public sector oil retailer Indian Oil Corporation has lost to Reliance Industries Ltd the contract for supplying diesel to the Indian Railways.