Hindsight: This was a reasonably good year for O&G in general, in particular for India. The government has performed very well. For the first time, it took some concrete and bold steps, and ensured deregulation of transportation and petrol, distinguished bulk from retail transport. There is some disparity there, needing some practical solutions.
Tag: oil and gas
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Panel clears $4 bn investment plan of RIL, partners
At a recent meeting, a block management committee approved the proposed investment of $4 billion by Reliance Industries and its partners to produce natural gas from the D34 blocks in KG-D6 basin. The partners of RIL in this venture are BP Plc and Niko Resources. D34, which is part of the R-Series gas-field in the block, was declared commercially viable. R-serie
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Cairn India seeks govt nod to raise output
Media reports indicate that the union ministry for environment & forests received an application from Cairn India seeking permission to produce 300,000 barrels of oil equivalent and more from the RJ-ON-90/1 block. Cairn is looking to close this fiscal with production at 200,000-
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Experts advocate proper pricing policy
Experts remark that oil and gas exploration business is a risky venture which depends on the vagaries of geological conditions and hence the government must incentivise investment in the sector through attractive pricing policy. Experts argue that the whole cycle of discovery to development of hydrocarbons may take 10 years. Yet, when
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Govt to ascertain hoarding allegation against RIL
The government is taking steps to ascertain whether Reliance Industries (RIL) hoarded natural gas produced from KG-D6 field in anticipation of higher prices. In this regard, the government plans to appoint a reputed independent consultant. If the consultant feels that RIL hoarded gas in anticipation of higher prices, it wou
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Govt to ascertain hoarding allegation against RIL
The government is taking steps to ascertain whether Reliance Industries (RIL) hoarded natural gas produced from KG-D6 field in anticipation of higher prices. In this regard, the government plans to appoint a reputed independent consultant. If the consultant feels that RIL hoarded gas in anticipation of higher prices, it wou
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Lack of gas supply renders power plants idle
Power Minister Jyotiraditya Scindia said 12 power projects, with a total generation capacity of 2,978.62 mw, are lying idle because they don't receive natural gas from Reliance Industries' KG-D6. During first and second quarter of 2013 (till August 19, 2013), these projects, which are solely dependent on gas supply from KG-D6, did not
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CCEA to consider OVL, OIL proposal
The proposal by ONGC Videsh (OVL) and Oil India (OIL) to pick up Videocon Mauritius EnergyÂ’s 10 percent stake in MozambiqueÂ’s Rovuma 1 block is awaiting the approval of the union cabinet. The petroleum ministry moved a note before the cabinet committee on economic affairs for approval. The acquisition would be completed soon, oil minister M Veer
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IGS to supply gas to India
Global oil and gas major BP plans to sell some of the US Freeport liquefied natural gas (LNG) in India through its joint venture firm Indian Gas Solutions (IGS). It may be recalled that IGS is a joint venture between BP and Mukesh Ambani-promoted Reliance Industries,. BP earlier agreed to buy 4.4 mn tpa of liquefaction tollin
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Govt must pursue investor friendly policies in oil and gas sector
Some analysts attribute the abandoning of 15 oil and gas blocks by BP and Reliance Industries (RIL) to unfriendly investor policy of the government. But BP termed the relinquishment of blocks as a routine "portfolio management" exercise. These 15 blocks are part of the 21 blocks for which BP struck a $7.2-billion deal. According to industry observers, the development does not augur well for the dom