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
Tag: ONGC
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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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ONGC plans Rs 868 bn investment in 5 yrs
Sudhir Vasudeva, Chairman and Managing Director of state-run oil explorer informed that the firm plans to invest about Rs 86,862 crore on 44 mega projects during 2012-17. He also said that the planned capacity addition of the firm's Mangalore Refinery and Petrochemicals will come about in the present Plan period
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ONGC expects to produce 29.1 mn t oil in 2013-14
Oil and Natural Gas Corp (ONGC), which expects to produce 27 million tonne of crude oil from its own fields and its share in joint ventures in 2012-13, plans to raise it to 29.1 million tonne in 2013-14. Of the 29.1 million tonne it expects to produce in 2013-14, 25.78 million tonne would come from its own field
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ONGC gets poor response for CBM block sale
Bids invited by state-run oil explorer Oil and Natural Gas Corporation (ONGC) for picking up its stake in four coal-bed methane (CBM) blocks did not receive strong response. ONGC is said to have received bids from only three firms for the blocks. These firms are UK-listed Great Easte
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Finance ministry hopes to attain disinvestment target
The union finance ministry hopes to meet the target of raising Rs 30,000 crore through the disinvestment of the government stake in public sector undertakings in 2012-13. But some financial market observers feel that the market may not have the capacity to absorb the huge avalanche of shares in such a short span. They point out that divestment in shares of Oil and Natural Gas Corporation (ONGC) last March had no takers and
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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.
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Brokerage expects mixed profitability of oil and gas firms
In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter. The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profi
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Brokerage expects mixed profitability of oil and gas firms
In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter. The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profi
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Gujarat to remain a hot-spot for oil & gas sector
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.