The company is in the process of doubling its production to 800 oil barrels a day from the current 400 barrels a day, from a part of the field called prospect-B.
The official explained that the contractor would take the worst-case scenario into account "to be on the safe side", when working out the field development plan and the probable cost of exploration and development of the block.
The country's largest marketer of petroleum products is facing troubles in Sri Lanka, one of the two overseas markets where it sells fuel through its fully owned subsidiary, Lanka IOC. The other country is Mauritius.
The petroleum ministry has rapped Reliance Industries for failing to meet its obligations of opening and operating 10 per cent of its petrol and diesel retail outlets in remote and low-service areas.
The shortage of drilling rigs across the world is likely to delay the seventh round of auction of oil and gas blocks, under the New Exploration and Licensing Policy, till October-November this year.
The government is likely to clear the price quoted by Reliance Industries Ltd for its gas from the Krishna-Godavari basin without seeking to control the price.
Rs 35,000 crore investment to increase capacity by 75%.
The Fortune 500 company -- it recently improved its rank to 135 -- has identified forward integration into petrochemicals as its next big business opportunity.
The fertiliser and power companies say that the cost of gas would be too high, making operating on gas economically unviable.
With the rising price of crude oil, the gap between the desired selling price and the actual selling price -- referred to as under-recovery -- is up to Rs 190 crore (Rs 1.9 billion) a day. The solution is to raise retail prices, an unpopular move.
Will set up a 1,000MW gas-based power plant at its Gujarat SEZ.
The 386-km pipeline from Dahej to the power plant became operational on Monday.
The ethanol blended with petrol needs to be of 99.99 per cent purity.
Higher price will lead to hike in fertiliser subsidy while a lower price will hit returns.
A ministerial group is mulling a proposal to increase the troubled Dabhol power plant's capacity to 5,000 Mw from the present 2,184 Mw to ensure its long-term viability.
Hazra, the director of Hindustan Aegis LPG Bottling, said that the government's stance was discouraging the multinationals from making further investments.
The government-owned Fortune 500 company, which is the country's largest company in terms of sales, has already commissioned 1,180 Kisan Sewa Kendras.
The laying of gas pipeline to feed the 2,150-Mw Dabhol power plant owned by Ratnagiri Gas and Power Private Ltd has been delayed again.
The petroleum ministry has recommended a hike in the foreign direct investment cap in government-owned refineries to 49 per cent from the current 26 per cent.
Interest from Malaysia's Petronas in Cairn India and Swiss Petroplus in Cairn India's parent, Cairn Energy, saw the shares of both the companies gaining on the bourses.
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