India on Monday lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran awarded a contract for developing the giant gas field to a local company. "The National Iranian Oil Company (NIOC) has signed a contract worth $1.78 billion with Petropars Group for the development of Farzad B Gas Field in the Persian Gulf," the Iranian oil ministry's official news service Shana reported. "The deal was signed on Monday, May 17, in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh in Tehran." The field holds 23 trillion cubic feet of in-place gas reserves, of which about 60 per cent is recoverable.
Eight companies are in the fray for rolling out gas networks in six cities, bids for which were invited by the Petroleum and Natural Gas Regulatory Board. The deadline for submission of the bids expired on Tuesday.
The commission asks for notification to be deferred; RIL's KG-D6 pricing issue may return to Cabinet
Oil and Natural Gas Corporation, through its consortium partner in the Sakhalin-1 field in Russia Exxon Mobil, is in talks with Royal Dutch Shell for liquefying the gas from the fields before it is exported to China.
The Petroleum Ministry has proposed a 33 per cent hike in the price of natural gas produced by ONGC and Oil India and gradually increase it to $4.20 per mmBtu set for gas from Reliance Industries' KG-D6 fields.
The finance ministry has rejected the formula and, instead, suggested an alternative that takes into account well-head prices of suppliers in Qatar, Oman, Abu Dhabi and Malaysia.
Close on the heels of initiating a dialogue with Iran and Myanmar on importing gas through onland pipelines, Petroleum Minister Mani Shankar Aiyar will soon visit Turkmenistan and Afghanistan to explore the possibility of bringing natural gas from Ce
About 0.9 million standard cubic meters per day of gas produced from the fields lying in Bay of Bengal, off the Andhra Pradesh coast, is currently sold at $3.5 per million British thermal unit.
Several people are still feared trapped in the debris after a series of landslides that occurred in Chooralmala and Mundakkai of Wayanad.
'Battery electric, hydrogen fuel cell and hydrogen ICE, could be the three technologies which have the potential of being zero emission and that are what we will have to work on,'
Anil Ambani met Cabinet Secretary K M Chandrasekhar, Expenditure Secretary Sanjiv Misra and Fertiliser Secretary J Sreedhara Sarma to drum support against RIL's proposed pricing formula for natural gas from KG-D6 block off the east coast.
Barring coal, electricity and steel, all sectors -- crude oil, natural gas, refinery products, fertiliser and cement -- recorded negative growth in September 2020.
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.
RIL has maintained it had followed the production sharing contract (PSC) in letter and spirit and done no wrong and it has drilled all wells within its boundary.
RIL had drawn 58.67 bcm from the wells up to March 31, 2015.
Trying to give the best support to Indian contingent but still being criticised: IOA chief PT Usha
Ras Laffan Liquefied Natural Gas Co Ltd (RasGas) of Qatar has pulled out of state-run National Thermal Power Corporation's tender for supply of 3 million tonnes of LNG for its power plants.
GAIL India chairman and managing director B C Tripathi said the availability and possibility of gas has changed with the change in government policy.
Of the 17.99 mmcmd gas allocated to the power sector, gas supply pacts of only 2.67 mmcmd allocated to NTPC remained to be signed. NTPC's opposition has also delayed the GSPA for a separate 2.7 mmcmd allocated to the Dabhol power plant and the same is now slated to be signed next week.
The game changer could have been cash transfers of the cooking gas subsidy.
India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine.
An empowered group of ministers on April 9 decided to give any unutilised KG-D6 gas to steel plants who are currently not being supplied their full share of administered price fuel, official sources said. After gas-based steel plants, allocations would also be made to existing gas-fired power plants and to other power plants, including captive power plants depending upon the availability of the unutilised gas.
The newly set up Petroleum and Natural Gas Regulatory Board has received over 100 applications from domestic and foreign companies interested in supplying gas to domestic households and vehicles in cities.
India is pitted against China, South Korea and Thailand in the race to secure the huge gas found in offshore Myanmar.
Reliance Industries has acquired five oil and gas exploration blocks, earlier awarded to Ireland's Tullow Oil for over £1 million, as part of efforts to consolidate its position in exploration and production business.
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
India will begin importing gas in the form of liquefied natural gas from early 2004 to augment deficit in domestic production, Petroleum Minister Ram Naik said.
The Delhi high court has rejected a government challenge to an arbitration panel award that had ruled in favour of Reliance Industries Ltd in a dispute over gas migration from fields operated by state-owned ONGC in the KG basin. The government had slapped a provisional penalty of $1.55 billion on Reliance for "unjust enrichment" from gas migrating from the ONGC-operated KG-D5 block to the private firm's adjoining KG-D6 area. It had sought $175 million in additional profit petroleum from Reliance and its UK partner BP Plc.
The Ratnagiri Gas and Power Pvt Ltd is likely to get gas for power production by June-end, GAIL (India) chairman UB Choubey said.
The Cabinet Committee on Economic Affairs last month allowed ONGC and Oil India Limited to tap shale resources in blocks allotted to them on a nomination basis.
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
The countdown for BG's stake sale in Gujarat Gas Company (GGCL) begins tomorrow. Three months after BG made its intention of divesting its stake clear, over half a dozen potential bidders are likely to submit non-binding bids for BG's 65.12 per cent stake in the country's largest natural gas distributor by sales.
Reliance Industries Limited has made two natural gas discoveries on the east and west coast adding to the vast hydrocarbon reserves it has found in the past few years.
RasGas of Qatar is likely to sell liquefied natural gas to public sector Petronet LNG at a fixed price instead of a price indexed to crude oil.
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