The Indian unit of the British energy firm BG group, Oil and Natural Gas Corp and Reliance Industries signed an amended contract for the Panna/Mukta oil and gas and Tapti gas field with the government for joint management of the fields.\n
The consortium of Oil and Natural Gas Corp, Reliance Industries and BG Group of UK will continue selling gas from Panna/Mukta and Tapti fields to state-run gas firm GAIL
Oil and Natural Gas Corp on Tuesday disputed claims made by gas utility GAIL (India) Ltd of an agreement with the operators of Panna/Mukta and Tapti fields to continue selling gas beyond March 31.
British firm BG Group has opposed the government's move to take its share of production from gas fields in kind saying it will distort level playing field and give unfair advantage of state-run gas utility, GAIL India Ltd.
British oil and gas major BG Group, Oil and Natural Gas Corp and Reliance Industries agreed to jointly operate Panna-Mukta and Tapti oil and gas fields, ending the year long row over who would manage the highly-profitable producing fields.
ONGC, BG close to resolving Panna-Mukta row.
British oil and gas major BG Group Plc on Monday committed to investing more in oil and gas exploration in India and setting up LNG import project.
The company had assets in countries like Yemen, Peru, Oman, Myanmar, Columbia, East Timor, Kurdistan and Australia, but it exited almost all these blocks later as part of its portfolio rationalisation
The reduction in natural gas prices would mean lower raw material cost for compressed natural gas (CNG) and natural gas piped to households (PNG).
The 30-share Sensex gained 117 points to end above 29,000 at 29,006 while the 50-share Nifty gained 32 points to close at 8,761.
The new return forms also make life easier for expatriates.
Around six lakh people have been housed in over 2000 relief camps in the two states.
CNG prices in Mumbai may have to be hiked by about Rs 16 per kg and piped cooking gas by Rs 10 after government decided to divert some of its cheaper domestic gas to Gujarat.
Cairn's contractual term for exploring and producing oil from the Rajasthan Block RJ-ON-90/2 expires in 2020 and the area is to return to the block licensee, ONGC.
'Opposition to the idea of a state flag has come from the small thinking pseudo-nationalists, who are the ones pushing Hindi-Hindu-Hindustan.' 'Identifying India wrongly as a one language, one religion nation,' says Aakar Patel.
The 30-share Sensex ended down 556 points at 27,886 and the 50-share Nifty ended down 158 points at 8,444.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Oil and Natural Gas Corporation has deployed the best-in-class technologies in its Improved Oil Recovery and Enhanced Oil Recovery schemes on these fields.
The company is looking to invest more than $3 bn over the next three years.
'The prime minister expressed concern and assured all possible help to the state,' CMO said.
Indian oil and gas exploration companies work in silos.
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While lower gas output led to earnings cuts, price rises with regular ramp-ups in output will lead to earnings upgrades
'With folded hands, on humanitarian grounds, if she can get temporary bail on medical grounds so she can get treatment.' 'If she dies, the whole trial gets derailed.'
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