The Indian government has signed a three-point bilateral agreement with the US government aiming to harness new technologies in the hydrocarbon sector. The agreement was signed between Oil Minister Dharmendra Pradhan and US Secretary of Energy Dr Ernest Moniz in Washington.
Tag: Oil
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Oil & gas block auction policy to be ready by FY16: Pradhan
Government expects to finalise the new policy for auction of oil and gas blocks during the ongoing financial year, Oil Minister Dharmendra Pradhan said.
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LNG more viable than coal
India is already among the world´s largest energy consumers. Urbanisation, industrialisation, and the government´s commitment to 24 x7 energy access for all imply that our need for power will continue to grow.
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ONGC targets $10-$12 bn foreign oil and gas investments
The foreign investment arm of India´s top oil explorer ONGC is targeting $10-$12 billion of oil and gas asset purchases over the next three years, including more corporate acquisitions, its managing director said.
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Govt rejects Cairn appeal to renew Rajasthan block deal
The government has rejected Cairn India´s plea to renew the contract for the prolific Rajasthan block with the existing terms and conditions and has asked for the investment plan for the renewal period to assess the extent to which the state´s share of profit can be raised.
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New family of cameras for hazardous environments
Munich ? Bosch announces the launch of EXTEGRA IP 9000 FX, a new family of explosion-proof IP cameras developed for safe operation in hazardous environments. No matter whether it is exceptionally hot or cold (-50° to ?° Celsius), the lighting conditions are extremely poor, the monitored objects are far away, or there is a high level of moisture or dust, the new EXTEGRA IP 9000 FX cameras deliver the highest quality of security relevant images.
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The new gas pricing policy is a step in the right direction but more is needed
The government has highlighted Oil & Gas (O&G) as a priority sector as part of its ‘Make in India’ campaign. The focus in O&G will be on Oil Field Services and Equipment (OFS). An interesting model could be Malaysia and Dubai kind of service hubs on the east coast and west coast of the country.
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Govt gives green nod to 190 projects worth Rs.6.31 lakh cr
Environmental clearance has been given to 190 projects, entailing an investment of Rs 6.31 lakh crore across sectors like mining and steel during June-December as part of the National Democratic Alliance (NDA) government´s policy to fast-track industrial development and generates jobs.
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Global gas prices converge
Global benchmark prices for natural gas have converged to their closest in five years, a trajectory created by a supply glut and an oil rout. That spells trouble for US and Australian projects coming online this year.
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State marketing cos for flexible deals
PSU refiners, who account for about two-thirds of the country´s oil processing capacity, are seeking more flexibility in import contracts