KIOCL is reportedly in discussion with Steel Authority of India (SAIL) to set up a joint venture to explore rare earth minerals in Kerala. The joint venture project may also engage bodies like Kerala State Industrial Development Corporation and Kerala Mineral Development Corporation
Tag: production
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EIA report says India is 4th largest energy consumer
In its latest report on energy outlook for India, the US Energy Information Administration (EIA) said India is the fourth largest energy consumer in the world after the United States, China, and Russia. But the per capita energy consumption of India remains lower than that of developed countries, says the repo
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Minister wants India to attain self-sufficiency in fuel by 2030
Union Petroleum Minister Veerappa Moily informed that his vision is to make India self-sufficient in the consumption of petroleum products by 2030. He said there is a need to have patience to research the country's oil reserves. He said this to reporters after laying foundation stone for the transport hub of HPCL in Mangalore. The transport hub facility by HPCL in Mangalore is spread
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OVL to resume production from South Sudan asset
Reports indicate that Oil and Natural Gas Corp. (ONGC), the overseas unit of state-owned, decided to start production from its oil field in south Sudan hoping that the issue of transit fee for may be resolved amicably. Daniel Peter Othol, South SudanÂ’s ambassador to India mentioned that crude oil would flow by the end of this
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India’s gas shortage pegged at 155 mn cu m per day in 12th plan
According to a government estimate, India may face shortage of natural gas to the tune of 155 million cubic metre per day during the 12th Five Year Plan period (2012-17). This is expected to rise to 225 million cubic metre per day in the 13th Five Year Plan. According to a report by an international research agency, India accounts for 11 p
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SEIL hopes to borrow funds for pellet plant project soon
B Satish Kumar, Managing Director of Steel Exchange India (Seil) expressed hope that the firm may achieve financial closure for its proposed Rs 300-crore pellet plant by three-four months. He said the company is awaiting environment clearance for the proposed 600,000 tonne capacity unit which would come up at its existing steel plant and would help it cut production cost
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Ministry takes steps for growth of steel sector
Union Minister of Steel Beni Prasad Verma informed Parliament that his ministry routinely consults the steel industry to be apprised of the constraints to growth and recommends necessary corrective measures as and when necessary, to other concerned ministries. He said the government has taken the following steps to support the competitive production and capacity growth of the steel
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SAIL, Posco in talks over steel plant project
State-run firm Steel Authority of India (SAIL) has been in discussion with POSCO for setting up a FINEX technology based steel plant of around 3 Million Tonne Per Annum (mn tpa) hot metal capacity as a joint venture at Bokaro Steel Plant. It is estimated that around 1,100 acre land would be required for this purpose. SAIL and POSCO have not reached an agreement on the share holding structure of the j
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SAIL imports 75% of coking coal requirement
Steel Authority of India (SAIL) imports 75 percent of its requirement of coking coal from foreign countries and the rest through captive mines and domestic sources. This information was given by the Minister of State for Commerce & Industry, D Purandeswari in a written reply in the Lok Sabha. The company has to rely on imports for substantial consumption of coking coal because of the limited availa
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OIL plans to spend large portion on exploration
Reports suggest that Oil India (OIL) plans to spend over 32 percent of the planned capital expenditure (capex) in the 12th Five Year plan period (2012-17) towards exploration which will enhance its current reserve base. According to analysts, the cost of production of the company for oil and gas is amongst the lowest in the world. This is mainly on account of the fact that most of the production for OIL is