Experts and industry observers urge oil and gas companies to accelerate engineering and production activities in order to bridge the demand-supply gap in crude oil. The country depends on import for over 70 percent of its crude oil requirement and this puts huge pressure on India's import bill
Tag: natural gas
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ONGC expects to produce 29.1 mn t oil in 2013-14
Oil and Natural Gas Corp (ONGC), which expects to produce 27 million tonne of crude oil from its own fields and its share in joint ventures in 2012-13, plans to raise it to 29.1 million tonne in 2013-14. Of the 29.1 million tonne it expects to produce in 2013-14, 25.78 million tonne would come from its own field
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OIL in the process of drilling wells in KG basin
Reports suggest that by the middle of 2013, Oil India (OIL) may start work on drilling wells in the KG Basin. OIL is said to be in advance stage of mobilising the rigs to the exploration site and the work is expected to by June-end or early July 2013. As part of its plan, the firm would drill three shallow wells and three deep water wells at a total cost of aro
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Adani Gas under CCI scanner
The natural gas distribution service of Adani Gas (AGL) in Faridabad has come under the scanner of the Competition Commission of India after the latter received complaints from Faridabad Industries Association (FIA). FIA is an umbrella body of industrial units in Faridabad (Haryana). The competition commission recei
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J&K govt mulls ordinance to begin pipeline project
According to media reports, the Jammu and Kashmir government plans to introduce an ordinance for beginning work on the Bhatinda-Jammu-Srinagar gas pipeline project. It may be noted that the Gujarat State Petronet (GSPL), a subsidiary of Gujarat government, secured the
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Output from RIL’s KG basin falls to 21 mmscmd
Reports suggest that natural gas output from D1, D3 and MA fields in Reliance Industries' (RIL) Krishna-Godavari basin stands at about 21 mmscmd after hitting a peak of 60 mmscmd in end-2009. Officials who are in the knowhow of the issue feel that
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PLL agrees to allot capacity to GSPL
Recently, Petronet LNG (PLL) signed an agreement with the Gujarat State Petronet to allot 1 Million Tonne Per Annum (MTPA) of capacity in its natural gas re-gasification terminal at Dahej. PLL agreed to allot the capacity to the firm for a period of 20 years starting from 2016
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Coal Seam Gas Production Balloons in Asia
Unconventional gas is becoming increasingly popular across the Asia-Pacific, as demand for natural gas grows throughout the regionÂ’s major industrialised nations, states a new report from business intelligence experts GlobalData. The new report* looks at Coal Bed Methane (CBM), otherwise known as Coal Seam Gas (CSG), which has similar properties to natural gas, is extracted from coal seams and represents an important unconventional source of gas.
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Experts call for early solution on KG D6 issues
Industry experts suggest that the government, Reliance Industries and BP Plc work towards an early resolution of the issues holding up investments in Krishna-Godavari (KG)-D6 basin. They feel that improvement in production of natural gas from the basin is essential to meet the ever rising demand for the fuel in
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Panel upholds CAG’s right to audit blocks
The Rangarajan Committee on oil and gas sector opined that it was the prerogative of the Comptroller and Auditor General of India (CAG) to audit expenses incurred by block operators. The panel, which submitted its report to the union government recently, suggested that the blocks with low value can be audited by panel of auditors formed by CAG and f