Unconfirmed reports indicate that India imported 185,113 tonne of iron ore during April-June 3013 and this is 78 per cent lower than 826,372 tonne imported in the year-ago period. By the end of August, the government would officially release data on iron ore import, reports indicate.India was once the third-largest exporter of iron ore in the world, exporting about 98 million tonne, or 47 per cent
Tag: output
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RIL proposes $16-bn investment if pricing regime is favourable
An investment of $16 billion is proposed by Reliance Industries (RIL) on exploration and production of oil and gas in its fields in the next five years. The company expects to tap 3-4 trillion cubic feet (tcf) of gas through this investment. But the company feels that its investment would not be recoverable if the price calculated under the Rangarajan committee formula is
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GEECL against inclusion of CBM in new pricing regime
Great Eastern Energy Corp (GEECL) took objection to the government's move to bring all forms of natural gas under the pricing regime suggested by the Rangarajan committee formula and approved by the cabinet recently. This essentially means that the coal bed methane (CBM) gas produced from coal seams would also come under the pricing formula suggested by the Rangarajan com
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Govt sticks to formula rather than any fixed price
Even as the union cabinet recently approved the hike in domestic natural gas price to $8.4 million metric British thermal unit (mmbtu) from April 2014, the government does not stick to any fixed price, some media reports indicate. According to these reports, the government has left the market condition to fix the price based on the formula proposed by the Rangarajan committee
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Department suggests cap on gas pricing under new regime
The department of expenditure of the union finance ministry suggested the oil ministry to fix a ceiling price for domestic natural gas under the Rangarajan formula. On June 27, the Cabinet Committee on Economic Affairs cleared the adoption of the Rangarajan pricing formula for domestic natural gas from April 2014. But while adopting this formula, the expenditure department suggested that gas producers should not be allow
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GAIL plant does not receive gas from KG-D6
Liquefied Petroleum Gas (LPG) plants of GAIL has reportedly stopped receiving natural gas from Reliance Industries' KG-D6 block because of falling output in the area. Supply to the plant was stopped because gas output at KG-D6 declined to just over 14 mmscmd which is enough to met the requirement of fertiliser plants. Fertiliser plants are given top priority in gas supplies
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SAIL to take a hit from rupee depreciation
Agency reports indicate that Steel Authority of India (SAIL) would take a hit of roughly around Rs 125-130 crore on an annual basis for every one rupee depreciation. But the falling price of the coking coal, a key input in steel-making, may reduce the impact of rupee depreciation on the finances of the company. SAIL requires to import around 10 million tonne of coking coal
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GEECL announces rise in CBM output from Raniganj block
Great Eastern Energy Corp (GEECL) achieved 18 per cent growth in the production of coal-bed methane (CBM) from its Raniganj block. Gas output from the block rose to 20.40 million standard cubic feet per day or 0.5776 mmscmd, from 17.3 mmscfd (0.4898 mmscmd) last month. GEECL is the first company in the country to produce gas from coal seams (CBM). Its main asset is a 210 squa
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Odisha govt restricts gram sabhas to 12 villages
Ignoring the suggestion of the union tribal affairs ministry, Odisha government plans to conduct gram sabhas in only 12 villages of Kalahandi and Rayagada districts to decide whether to allow bauxite mining at Niyamgiri hills by Vedanta Group. The state government will conduct gram sabhas on July 18 and August 19. Earlier, the union tribal ministry suggested the state gove
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Ministry note justifies gas price hike
An internal note circulated by the petroleum & natural gas ministry has justified the recent decision of the union cabinet to almost double the domestic natural gas price to $8.4 per unit. The note argued that the current price of $4.2 was not viable for “sustenance of the domestic production of gas and all the operators are demanding an increase in price