Of the 52 oil and gas blocks which are awaiting clearances from the defence and environment ministries, the oil ministry plans to request Cabinet Committee on Investment (CCI) to expedite nod for 20 offshore exploration blocks. Speedy clearance for these blocks would benefit prospective contractors like RIL, Cairn, BP, BHP Billiton, ONG
Tag: oil and gas
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Cairn India aims 215,000 bopd output in FY14
Cairn India aims to produce 215,000 barrel of oil per day (bopd) during 2013-14 from its Rajasthan block. This is based on the company managementÂ’s guidance and the expectation that the Bhagyam field would produce 40,000 bopd only by the second half of 2013
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EAC clears Cairn’s plan to raise output
The Expert Appraisal Committee (EAC) under the union environment ministry gave conditional clearance to the plan of Cairn India to raise crude oil output capacity from its Mangala Processing Terminal in Rajasthan. The approval would enable Cairn India to raise oil production from 175,000 barrels per day (bpd) to 200,000 bpd and associated gas from 35 to 40 million stan
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CERC seeks review of LPG distribution norms
Union petroleum ministry received a request from the Ahmedabad based Consumer Education and Research Centre (CERC) to reconsider the decision to allow only one gas connection for one address. In a letter to the ministry, the CERC argued that the rule could hit the joint family culture in India as it will impose an additional financial burden of purchasing cook
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Cairn India awaits nod for exploration
The management committee that overseas the production of crude oil by Cairn India in the Rajasthan oilfields is expected to meet soon. Cairn India is awaiting the approval of the committee for exploration in the delineated area in the Rajasthan oil field so that it could raise oil production. Once approved, the company would be able to raise prod
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India, Kazakhstan sign pact
The 10th meeting of the India-Kazakhstan Inter-Governmental Commission (IGC) on Trade, Economic, Scientific, Technological, Industrial and Cultural was held during 8-9 January 2013 in New Delhi. M Veerappa Moily, Minister of Petroleum and Natural Gas, led the delegation from India. The Kazakh side at the I
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ONGC aims to double output by 2030
Under its ''Perspective Plan 2030'', Oil And Natural Gas Corporation aims to double its oil and gas production by 2030; with nearly 46 per cent contribution expected to come from overseas assets, Sudhir Vasudeva, Chairman of the firm said earlier. The plan maps the long-term growth model of ONGC as an energy major.
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Ishar Gasoil loses oil and gas blocks
Ishar Gasoil, which bid for three oil and gas blocks under the ninth round of the New Exploration Licensing Policy (NELP), failed to secure these blocks as the Cabinet Committee on Economic Affairs (CCEA) rejected them. Owing to the companyÂ’s negative net worth, its bids for the blocks RJ-ONN-2010/1, GV-ONN-2012/1 and
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GAIL India to decide on shipping foray
In the next three-four months, GAIL India would decide on whether to start shipping operation. The company plans to source seven LNG (liquid gas) shipping vessels on long-term charter hire. Alternatively, it is also mulling a proposal of outright purchase. BC Tripathi, Chairman of the firm said after announcing the commissioning of its 5-million tonne a year
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Contract opportunities in exploration segement
Exploration and production segment in oil and gas sector holds tremendous business potential in India given the rising demand for crude oil and natural gas in the country. According to one estimate, oil consumption in the country may expand 4-5 percent per annum to 2015, indicating a demand of 4.01 million barrels per day by 2015 from the present level of around 3 mn barrels per day.