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 Ă´reforms
Tag: ONGC
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NMPT targets 100 mt handling capacity by 2020
According to PC Parida, Chairman of New Mangalore Port Trust (NMPT), the port is in the process of increasing its capacity to 100 million tonne (mt) by 2020. He said that the port has already
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Cairn to extend Rajasthan block
Cairn India has sought partner ONGCs nod for extension of the licence of their prolific Rajasthan oil block beyond the contractual deadline of 2020.
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BSNL-MTNL in pact with ONGC
BSNL and MTNL have inked a five-year pact with ONGC to provide all telecom services to the state-owned oil firm on a pan-India basis.
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ONGC seeks BCGs help
ONGC has roped in Boston Consulting Group (BCG) to help keep tight control over timelines and costs for its KG Basin field. ONGC hopes that BCGĂ´s Ă´stage-gateĂ´ process, which divides project work into sequential elements with fixed responsibilities will help the company get KG-DWN-98/2 into production in quick time.
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L&T breaks new ground in offshore engineering and construction
India's heavy and growing dependence on imported energy is putting financial strain on the economy. More than half of India's $191 billion trade deficit in the financial year 2012-13 was due to oil imports,
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CBM producers to bring down price
The Ministry of Petroleum and Natural Gas has decided to go for a uniform gas price for all the gas producers in India once the new pricing under Rangarajan formulae comes into effect post elections.
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India in to develop Kazakh oil block
India is in talks with Kazakhstan for developing Abai oil block in the Caspian Sea. According to reports, Magzum Mirzagaliev, Vice-Minister, Oil and Gas, Kazakhstan, has offered the Abai block to ONGC Videsh (OVL)
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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 OILĂ´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.?