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.
Tag: Oil
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State marketing cos for flexible deals
PSU refiners, who account for about two-thirds of the countryĆĀ“s oil processing capacity, are seeking more flexibility in import contracts
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Oil & Gas Stepping on the Gas
The complete deregulation of diesel prices and the announcement of the new gas pricing formula are bound to give a fillip to the oil & gas sector in the country. Finally, the oil & gas sector has been visited by the ĆĀ“reforms
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Waste gas-based power plant
Assam Gas Company Ltd (AGCL) and Assam Power Generation Corporation Ltd (APGCL) have decided to set up 50-MW power plant by utilising associated gas that is generally wasted in the oil fields.
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Man Industries wins O&G supply contract
Man Industries has won new orders worth Rs 550 crore from domestic and international customers for supply of pipes for oil and gas projects.
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OVL talks to Pemex for Mexico tie-up
ONGC Videsh (OVL) is in talks with Petroleos Mexicanos (Pemex), the national oil company of Mexico for a potential tie-up to pick up equity in exploration and production assets in the Latin American nation.
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Middle Easts largest smart solar project completed
The largest smart solar plant in the Middle East, having a capacity to deliver 8,000 MWh of clean renewable energy, has been successfully installed in Bahrain.Petra Solar, a subsidiary of Petra Systems
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RIL plans to raise Rs 10,000 cr in debt
Reliance Industries Ltd (RIL) plans to raise up to Rs 10,000 crore in debt this fiscal to part fund its $26 billion investment plan. RIL has sought shareholder nod to raise funds through non-convertible debenture in one or more tranches. RIL is expanding its existing petrochemical plants.
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Govt approves 10 pc stake sale in IOC
The government has approved a 10 per cent stake sale in Indian Oil Corporation to ONGC and OIL, which will fetch about Rs 5,300 crore to the exchequer. The share sale price has been fixed at Rs 220, while the scrip was trading at Rs 248.45. The sale of 10 per cent stake or 24.27 crore shares will be through an off market transaction, with ONGC and OIL buying 5 per cent stake each.
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New DGH
BN Talukdar, Director for Exploration in Oil India (OIL), has been appointed the new Director General of Hydrocarbons (DGH). A petroleum engineering graduate from the prestigious Indian School of Mines, Dhanbad, Talukdar has been head of OILĆĀ“s exploration, development, reservoir management and drilling activities since December 2007. Prior to joining the Board, Talukdar held the post of Group General Manager (Geosciences) in the fields in the North-East India.?