Finance Update Nov 01, 2016 Govt wins $1-bn dispute with RIL, BG over offshore cost recovery The government has won a major portion of the $1 billion arbitration with Reliance Industries and British firm BG Group over recovery of cost in western offshore Panna/Mukta and Tapti oil & gas fields.
Web Exclusive Oct 27, 2016 Govt wins $1-bn cost dispute with RIL, BG The government has won a major portion of the $1 billion arbitration with Reliance Industries and British firm BG Group over recovery of cost in western offshore Panna/Mukta and Tapti oil & gas fields.
Web Exclusive Oct 08, 2013 Kerala to re-tender Azhikkal port project The Kerala government is delaying work on the Azhikkal Port in Kannur district as it did not receive sufficient bids for the work. The Kerala State Planning Board and the Finance Department is not ready to give its nod to the project without sufficient bidders. Now the government has decided to re-tender the project.
Web Exclusive Aug 20, 2013 Rs 950 cr to be invested in Panna oil field To produce more output in Panna oil field, an investment of Rs 950 crore is being invested jointly by the State-owned Oil and Natural Gas Corporation (ONGC) and its partners-Reliance Industries and BG Exploration and Production India. The consortium is to dig more wells in the fied. ONGC has a 40 per cent interest in the oil field. Recently, the output in Panna field has come down.
Web Exclusive Jul 30, 2013 GMB plans to add 46 mn t capacity in FY14 Gujarat Maritime Board (GMB) plans to add 46 million tonne (mn t) of capacity at the non-major ports in the state during 2013-14. Once this is achieved, the total cargo handling in non-major ports of the state would rise to 412 Million Tonne Per Annum (mn tpa), reports
Web Exclusive Jul 29, 2013 Net profit of GAIL declines on lower gas volume Net profit of GAIL India declined 28.7 per cent to Rs 808 crore during April-June quarter from Rs 1,134 crore in the year-ago period. The country's largest gas transmission and marketing company witnessed 16 per cent growth in sales to Rs 12,856 crore during the quarter. The state-run utility witnessed fall in net profit as it transported less gas and its LPG margins declined on dryin
Web Exclusive Jul 11, 2013 Govt to reject bid of ABG Group Media reports indicate that the Kerala government decided to reject the sole bid of ABG Group to develop a cement terminal at Azhikkal port in Kannur at a cost of Rs 120 crore. Reports indicate that the government decided to reject the bid on certain technical grounds including disagreement on the revenue share offered by the company
Web Exclusive Jun 13, 2013 GSPC completes stake buy in GGCL GSPC is learnt to have completed the acquisition of 65.12 per cent stake in Gujarat Gas Co (GGCL) for about Rs 2,460 crore from London-based BG Group. Reserve Bank of India (RBI) and the Competition Commission of India (CCI) have already approved the transaction between BG Group and GSPC. Gujarat Gas Co (GGCL) is the largest private natural gas distributor in India. In October 2012, BG Group entered into a binding agreement for the sale of the s
Web Exclusive Mar 12, 2013 Govt clears exploration in some oil and gas blocks At a recent meeting of the National Secretary Advisor Shivshankar Menon and Principal Secretary to Prime Minister Pulok Chatterji, it was decided to clear Reliance Industries' (RIL) producing KG-D6 block and gas discovery area NEC-26. The meeting, held on February 27, decided to clear fully the exploration and production at the blocks and also