The vibrant state of Gujarat has been emerging as a major investment destination for the oil and gas sector due to the state governmentÂ’s sound economic policies.
Over the years, various industries such as power, automobiles, healthcare, gems, jewellery and ports have seen sharp acceleration in their businesses, boosting the stateÂ’s growth at a time when the countryÂ’s economic growth run-rate has been showing a downward curve over the past couple of years.
Tag: oil and gas
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Gujarat to remain a hot-spot for oil & gas sector
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Experts on O&G sector
Experts feel that the regulatory regime in the oil and gas sector must evolve to resolve new challenges and promote growth. One of the key issues in the sector is pricing. Oil and gas pricing has been controlled by the government - almost entirely until April 2002 under the Administered Price Mechanism (APM), and through indirect control since.
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Rangarajan panel suggests doubling of gas price
C Rangarajan headed panel, was tasked to suggest design of future contracts for exploration and production of oil and gas. Rangarajan is the Prime MinisterÂ’s Economic Advisory Council Chairman. The committee is believed to have suggested a complex pricing formula that will lead to near-doubling of the natural gas price to about $8 (Rs 439).
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ONGC develops 2 projects
Oil And Natural Gas Corporation (ONGC) currently has two projects under development namely Carabobo 1, in Venezuela, which is likely to commence early production by end of 2012-13 and Blocks A1 & A3 in Myanmar, which are likely to commence production in July 2013.
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ONGC develops 2 projects
Oil And Natural Gas Corporation (ONGC) currently has two projects under development namely Carabobo 1, in Venezuela, which is likely to commence early production by end of 2012-13 and Blocks A1 & A3 in Myanmar, which are likely to commence production in July 2013.
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Asian firms to compete with India for overseas assets
Reports suggest that Indian oil companies that attempt to acquire overseas energy assets may find stiff competition from Asian countries like Japan and China. Oil companies in Japan are said to be on a quest for upstream assets overseas, often with strong state support as the government tries to reduce reliance on atomic power after the Fukushima disaster. China, which was a major crude oil importer from Iran, had to reduce reliance on oil from the Gulf company follo
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J&K govt reviews progress of pipeline project
Jammu and Kashmir Chief Minister Omar Abdullah
reviewed the status of progress of the proposed 328 km Bhatinda-Jammu-Srinagar Gas Pipeline Project at a meeting of high level officers and emphasised on early start of work. During the meeting, the chief minister received appraisal of the roadmap prepared to start the work on the proje
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OVL plans to exit South China Sea block
According to source-based information, ONGC Videsh plans to exit the hydrocarbon block offered by Vietnam to it in the maritime region of South China Sea as it found that the bed of the block was very difficult. ONGC Videsh, the overseas arm of ONGC, feels that the cost of operating the block is higher than the benefits and so it is not conducting operation there. However, Viet
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Indonesian firm buys stake from RIL
PT Medco Energi Internasional of Indonesia bought the entire stake of Reliance Industries (RIL) in an exploration block in Yemen for about $90 million closing the deal which was announced in January. With this deal, Medco Energi will effectively have 21.25 percent participating interest (after taking into account a proportionate carried share of Yemen Oil and Gas Corp
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Contractual opportunities with Oil India
Oil India continues to be the second largest national oil and gas company in the country in terms of total proved plus probable oil and natural gas reserves and production for the year 2011-12, SK Srivastava, the company's Chairman and Managing Director said.