Oil and Natural Gas Corporation has made five oil and gas finds in eastern offshore and north-east, the most significant being a gas discovery in the Mahanadi basin block where 3-4 trillion cubic feet of gas reserves have already been established.
Production of eight infrastructure sectors increased by 5.4 per cent in November against a 3.2 per cent growth in the same month last year on a better show by coal, fertiliser, steel, cement and electricity segments, according to the official data released on Friday. Crude oil, natural gas and refinery products, however, recorded negative growth in November this year. The production growth of eight key sectors slowed down to 0.9 per cent in October.
Petroleo Brasileiro SA or Petrobras, Brazil's state-controlled oil firm, has offered ONGC its 15 per cent interest in the Krishna Godavari basin block that sits next to Reliance Industries prolific KG-D6 fields without any cost.
The EGoM headed by Defence Minister A K Antony was scheduled to meet on Tuesday to consider abolishing the priority ranking in natural gas allocation so that fuel currently consumed by urea plants can also be diverted to fuel-starved power plants.
It added this wasn't aimed at benefiting Reliance Industries Ltd alone.
The output of eight core sectors rose 4.4 per cent in September on account of healthy performance by segments like natural gas, refinery products and cement, official data showed on Friday. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had grown by 0.6 per cent in September 2020, as per the data released by the commerce and industry ministry.
The Cabinet Committee on Economic Affairs had first on June 27, 2013, and then on December 19, 2013, decided to price all domestically produced natural gas, including unconventional fuels such as coal-bed methane and shale gas, at an average of international hub rates and the cost of importing liquefied natural gas.
State-owned Oil and Natural Gas Corp (ONGC) will add about Rs 8,000 crore (Rs 80 billion) to its profits annually from near doubling of natural gas prices from next fiscal.
Growth of eight key infrastructure sectors slowed down to 8.2 per cent in June 2023 compared to the year-ago month due to a decline in the production of crude oil, according to the official data released on Monday.
It will have a capacity of 33 billion cubic metres
The Oil Ministry has proposed raising natural gas prices by at least 60 per cent, a move that will result in rise in urea as well as power costs.
Growth of eight key infrastructure sectors rose to 8 per cent in July 2023 compared to 4.8 per cent in the same month last year on expansion in production of coal, crude oil, and natural gas, according to the official data released on Thursday. Production of steel, cement and electricity also grew in July, the data showed.
The law regulating the gas pipeline sector will end up making the public sector incumbents dominant players in the market.
In the run up to the general election, Aam Aadmi Party had alleged that RIL's partner Niko Resources was selling KG-D6 gas in Bangladesh for half the $4.2 per million British thermal unit rate that India pays them.
The Delhi government has announced that vehicles older than 15 years will be denied fuel at petrol pumps starting April 1.
Anil Ambani-owned Reliance Energy has approached state-owned gas utility GAIL (India) Ltd for transportation of gas to its proposed 4,000 MW power plant at Dadri.
The beleaguered Dabhol power plant will from October 1 start buying natural gas from Reliance Industries to cut electricity generation cost at the nation's largest gas-fired unit.
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.
At present, India allows 100% foreign direct investment in exploration and production of oil and gas through a production sharing regime.
The rates, on net calorific value (NCV) basis, dropped to $ 5.05 per mmBtu for six month period beginning April 1, 2015.
Telangana Minister Uttam Kumar Reddy on Wednesday said the TBM that is struck inside will be cut into pieces by using gas cutters and removed. After this, the Army, Navy, Rat Miners and NDRF teams will make another serious effort to rescue the eight persons who are missing, without compromising their own safety.
The asset it owned by Venugopal Dhoot and a US oil and gas explorer.
In the past, the absence of commercially viable gas prices had not only discouraged high-risk new exploration activity but also hindered the development of some of the existing discoveries, such as the satellite fields in the Reliance Industries' eastern offshore KG-D6 block.
The scheme will cost the state exchequer altogether Rs 1,650 crore.
The competition between the two main players vying to lay cross-country natural gas pipelines has undergone a volte-face.
He was speaking on the sidelines of a function to inaugurate the new building to house the Environment Ministry.
The growth of eight key infrastructure sectors rose to 5.2 per cent year-on-year in March due to improvement in the output of crude oil, cement and electricity, according to official data released on Tuesday. In 2023-24, the growth rate in the output of these eight sectors was 7.5 per cent, marginally down from 7.8 per cent recorded in the year-ago period.
The Planning Commission on Tuesday called for linking petrol and diesel prices with international markets and made a case for raising gas prices by public sector companies.
Prime Minister Manmohan Singh on Tuesday dedicated GAIL India Ltd's 1,000 km Dabhol-Bangalore natural gas pipeline to the nation.
The joint venture will participate in exploration and production of gas and oil globally. It will also develop natural gas infrastructure projects.
BPCL is a high revenue-earning public-sector undertaking (PSU) and plans to privatise it are completely off the table, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday after assuming charge of the ministry for the second time. "Why would we divest ourselves of highly successful Maharatnas like BPCL," Puri said, arguing the Centre was not in favour of divesting its stake in oil PSUs.
Those who stay in other countries illegally do not have any legal right to be there, Modi said.
Tata Projects (Hyderabad), Tractebel Engineers and Constructors Pvt Ltd (New Delhi), Germanischer Lloyd Industrial Services (Mumbai) and Bureau Veritas (India), Pvt Ltd (Mumbai) are among the 13 agencies which will perform technical audit of city gas projects.
IHS said low regulated gas prices have precipitated a supply shortfall in India, but proposed that reforms to the pricing formula could yield higher domestic production and boost India's economy.
The output of eight core sectors grew by 11.6 per cent in August, mainly due to an uptick in the production of cement, coal, and natural gas, official data showed on Thursday. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 6.9 per cent in August 2020 due to the nationwide lockdown imposed to control the spread of COVID-19. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Oil and gas exploration policy will be reviewed to move from profit sharing to revenue sharing contracts.
