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.
Govt was vary of giving BJP-leader and Gujarat Chief Minister Narendra Modi any kind of advantage on the eve of elections in the state.
Iqara Broadband, part of United Kingdom energy major BG Group Plc, expects its broadband Internet services in India to guide the firm's growth in the new thrust area of telecom, a senior company official said on Monday.
British oil and gas major BG Group on Thursday said it would double its investment in India to $1 billion for increasing production from the Panna-Mukta and Tapti offshore oil and gas fields.
Cairn India and UK's BG Group too replied to audit observations.
Energy-hungry China has signed a landmark $40 billion deal to buy liquefied natural gas (LNG) from Australia for 20 years that Chinese officials say would put the strained relations between Beijing and Canberra back on track.
It is also understood that scope of this audit will far exceed the normal course of audit by CAG and the prime objective may be to detect fraud, if any, by RIL allegedly in collusion with oil regulator DGH and Ministry of Petroleum and Natural Gas.
Minister of State for Petroleum and Natural Gas Jitin Prasada, who led the roadshows in the US and Canada, said the roadshows for 70 blocks offered in NELP-VIII and 10 coal bed methane blocks received overwhelming response from investors.
Panna-Mukta field was producing 40,000 barrels of crude oil per day before July 25 when the leakage in the SBM (oil evacuation system) was detected and production was stopped, an industry source said. State-run gas utility GAIL India, which markets the gas produced from the fields, declared a Force Majeaure and effected a pro-rata cut on all its customers.
On instructions from the Prime Minister's Office for a more uniform distribution of the natural resource, the petroleum ministry had in December 2007 scrapped all contracts for sale of gas produced from PMT fields and nominated GAIL for selling it to 'fuel-starved' fertiliser plants outside Gujarat. But after protests, the ministry agreed to partly restore 3.6 million standard cubic meters per day of gas out of 5.1 mmscmd consumed by RIL's petrochemical plants.
The field is producing 18,000 to 20,000 barrels per day of oil as against 40,000 bpd normal production. Gas output is restricted to 2.5 million standard cubic meters per day as opposed to 5.5 mmscmd in normal times. Panna-Mukta oil and gas field was shut on June 3 morning for maintenance work to prepare for the forthcoming monsoon season. However, when the facility was being restarted that evening, an explosion occurred at Panna process platform killing one.
Reliance Industries Ltd has sought a minimum supply of 3.6 million standard cubic meters per day of gas for its petrochemical plants from the Panna/Mukta and Tapti fields, from which gas has been diverted by the government to state-run GAIL India. Reliance along with state-run Oil and Natural Gas Corporation and BG Group of UK are the operators of the PMT fields lying in Mumbai offshore and till last month marketed gas from the fields in proportion to their shareholding.
Needed: Sales Executives and Renewal Executives at Iqara Broadband.
The company is withdrawing from the blocks due to delays in clearances.
BG Group of UK is planning to buy stake in ONGC's oil and gas blocks.
BG Exploration and Production India, a part of UK-based BG group and Reliance Industries, hold 30 per cent stake each in the field, while ONGC has a participating interest of 40 per cent.
British energy firm BG Group on Thursday said it along with its partners state-owned Oil and Natural Gas Corp and Reliance Industries Ltd will invest $140 million in Panna oil and gas fields
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
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.
National Thermal Power Corporation has rejected bids of British oil and gas major BG Group and public sector oil companies' consortium Petronet LNG Ltd for supply of 3 million tonnes of liquefied natural gas.
The joint operators of the Panna/Mukta and Tapti oil and gas fields, British energy firm BG Group, Reliance Industries Ltd and Oil and Natural Gas Corporation, have hiked the price of natural gas produced from the Tapti field.
British oil and gas major BG Group and its Indian partners -- ONGC and Reliance Industries Ltd -- will invest $140 million over the next 18 months in the Panna-Mukta and Tapti oil and gas fields to improve production from the offshore fields.
State-run Oil and Natural Gas Corporation and private sector Hindustan Oil Exploration Company will pick up British oil and gas firm BG Group's stake in a Gujarat offshore exploration block.
Hindustan Oil Exploration Company on Friday said it was in talks with British oil and gas major BG Group for buying its 62.64 per cent stake in Gujarat offshore block CB-OS/1, senior company official said in New Delhi.
British oil and gas major BG Group has proposed to invest about $800 million over the next two years in developing the Panna-Mukta and Tapti oil and gas fields to improve production from the offshore fields.
"BG is close to selling its 62.64 per cent stake in the Cambay basin exploration block CB-OS/1 to HOEC. Talks have progressed well and the sale is likely to take place soon," industry sources said in New Delhi.
For simplification and a sharper strategic focus, BHP Billiton has been reassessing its global assets portfolio.
India and Japan's effort to form a multilateral group of liquefied natural gas buyers to avoid paying higher prices for the fuel is laudable as an objective but is unlikely to be effective immediately.
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