John Westwood, Group Chairman of Douglas-Westwood and Dan Eberhart, CEO of Canary USA, give their insights on the future of oil & gas in the Indian market.
Tag: Shale Gas
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New auction policy okayed for coal, shale gas
For governing and auctioning of coal reserves and shale gas acreages in the future, the Union government has given its approval to bring in new allocation policies. This was decided by the Cabinet Committee on Economic Affairs (CCEA) on September 24. The CCEA approved a Coal Ministry's proposal for competitive bidding of blocks under production-linked revenue-sharing method and a Petroleum Ministry proposal for allocation of shale gas reserves on nomination basis.
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New auction policy okayed for coal, shale gas
For governing and auctioning of coal reserves and shale gas acreages in the future, the Union government has given its approval to bring in new allocation policies. This was decided by the Cabinet Committee on Economic Affairs (CCEA) on September 24. The CCEA approved a Coal Ministry's proposal for competitive bidding of blocks under production-linked revenue-sharing method and a Petroleum Ministry proposal for allocation of shale gas reserves on nomination basis.
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CMPDI submits data on shale gas blocks
Central Mine Planning & Design Institute (CMPDI) submitted data package for six shale gas blocks to the Directorate-General of Hydrocarbons. These include two blocks in Ranigunj coalfields of the Damodar basin in West Bengal. They are most prolific with a reserve potential of 50 billion cubic metre. The others are in Jharia, also in the Damodar basin, and in the
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Govt may rope-in ONGC, OIL to extract shale gas
State-owned Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) may be roped in by the Union government to explore shale gas in onland blocks held by them under nomination, giving them an edge over rivals who can start the hunt only after auction of blocks, whose date has not been announced yet. Shale gas is non-conventional natural gas found in non-porous rocks and requires fracking technology for its extraction, similar to the extraction of gas between coal seams in India.
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Finance ministry opposes proposal of oil ministry
In a move that may delay the introduction of shale gas policy, the union petroleum ministry may have to work on a fresh proposal and another round of consultations could take place. This is because the finance ministry opposed the petroleum ministryÂ’s move to allow existing oil and gas explorers to find shale gas in their respective blocks.
The
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Govt to release shale gas policy soon
With the government initiating pricing reform in the natural gas sector, it plans to release the shale gas policy shortly and auction blocks for producing the unconventional fuel, media reports indicate. Also, the government will launch tenth bidding round for oil and gas blocks under new policy, media reports suggest. As part of its overall economic reform initiative, the government the government recently raised the price of domestic natural gas to $8.4 per unit from the present price
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Govt to release shale gas policy
Union government would announce policy on exploration and production of shale gas soon. The ministry will finalise the policy once it receives comments from different ministries.
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Govt to release shale gas policy in 25 days
Union petroleum Minister Veerappa Moily informed that the government would announce policy on exploration and production of shale gas in the next 20-25 days. The petroleum ministry will finalise the policy once it receives comments from different ministries. Found in non-porous shale rocks, extraction of shale gas, which is a non-conventional natural gas, requires the fracking technology, similar to the extr
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Govt to release shale gas policy in 25 days
Union petroleum Minister Veerappa Moily informed that the government would announce policy on exploration and production of shale gas in the next 20-25 days. The petroleum ministry will finalise the policy once it receives comments from different ministries. Found in non-porous shale rocks, extraction of shale gas, which is a non-conventional natural gas, requires the fracking technology, similar to the extr