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Domestic refiners will face significant inventory losses in Q3 FY 15: ICRA

India Infoline News Service | Mumbai | December 19, 2014 17:02 IST

The inventory valuation losses would be accentuated for inland refineries which are saddled with large crude inventory of several million barrels in pipelines. However some support to the GRMs would be available from the higher crack spreads witnessed during the quarter for several products.

Oil and Gas Newsletter December 15 to 19, 2014

India Infoline News Service | Mumbai | December 19, 2014 12:40 IST

Petrol and diesel prices cut by Rs 2 per litre each. In Delhi, petrol will cost Rs 61.33 a litre as compared to Rs 63.33 and price in Mumbau has been reduced by Rs 2.09 a litre in Mumbai.

Vedantas SSLT in India, Australia and Africa save 2.52 million cubic meters water in FY 2014

India Infoline News Service | Mumbai | December 18, 2014 17:17 IST

The group recognizes the value of water as an increasing global concern and is conscious of the impact of its use in mining, smelting and refining and at their power plants.

GAIL stock up 4%

India Infoline News Service | Mumbai | December 18, 2014 14:16 IST

Report said that Supreme Couty allowed GAIL to participate Ennore-Tuticorin pipeline tenders.

Cheap oil can benefit Asia: ADB

India Infoline News Service | Mumbai | December 18, 2014 13:01 IST

In a supplement to its Asian Development Outlook 2014 Update, ADB forecasts gross domestic product (GDP) growth for the region of 6.1% in 2014, down from 6.2% expected in September, and 6.2% in 2015, down from 6.4%.

Moody's downgrades Resolute Energy's notes to Caa1

India Infoline News Service | Mumbai | December 18, 2014 10:10 IST

The outlook was changed to negative from stable.

ONGC awards 100 mn euro contract to Technip in AP

India Infoline News Service | Mumbai | December 18, 2014 09:07 IST

The terminal will have a capacity of 6 million standard cubic meters per day report said.

Revival of Closed Units and Laying of Gas Pipelines

India Infoline News Service | Mumbai | December 18, 2014 08:58 IST

Issues like location and reservation of coal blocks for this fertilizer unit for the coal gasification purpose were discussed thread bare.

CAGs Observation on expenditure incurred by Oil Companies

India Infoline News Service | Mumbai | December 17, 2014 16:58 IST

Audit recommends that MoPNG may ensure that the disallowed cost of three wells amounting to US$ 160.81 million is recovered.

Unviability of Production of Natural Gas by GSPC

India Infoline News Service | Mumbai | December 17, 2014 16:14 IST

As per the approved Field Development Plan, initial production of 1.0 MMSCMD (Miliion Standard Cubic Meters per Day) and peak production of 5.0 MMSCMD is envisaged.

Venezuela dues: OVL wants to dip into RIL payments

India Infoline News Service | Mumbai | December 17, 2014 15:19 IST

Report stated that the OVL wants to dip into Reliance Industries payments for importing crude oil from Venezuela.

Platts JKM for January-delivered LNG slumped 46.9% in largest yoy drop

India Infoline News Service | Mumbai | December 17, 2014 11:20 IST

At $10.062/MMBtu, the monthly average JKM for January delivery had reached levels not seen since the same period in 2011, when the January JKM averaged $9.639/MMBtu.

Fitch: Indian Oil & Gas sector benefits from Reforms

India Infoline News Service | Mumbai | December 17, 2014 10:31 IST

The on-going reforms in India's oil and gas sector - namely the diesel deregulation and new gas pricing policy - will have a positive impact on the rated oil and gas companies, especially those engaged in oil product retailing and gas production, Fitch Ratings says in a new report.

ONGC, PDVSA plans to raise around $1 bn for Venezuela JV: reports

India Infoline News Service | Mumbai | December 17, 2014 08:58 IST

Report said that banks are are poised to lend the money to the joint venture, though ONGC would provide the guarantee

Moody's says Woodside ratings and stable outlook unaffected by acquisition announcement

India Infoline News Service | Mumbai | December 16, 2014 15:04 IST

Moody's affirmed the Baa1 rating with stable outlook of Woodside Petroleum Limited and its guaranteed subsidiary Woodside Finance Ltd.

Petrol, diesel rates reduce by Rs 2 per litre

India Infoline News Service | Mumbai | December 16, 2014 10:15 IST

In Mumbai, it will cost Rs 57.91 per litre as compared to Rs 60.11.

Cairn, ONGC drop on sliding Crude Oil

India Infoline News Service | Mumbai | December 16, 2014 09:30 IST

Cairn India and ONGC slide in opening trade this morning after US Crude oil prices plunge to lower levels.

Oil Ministry to approach Cabinet on revised subsidy: Reports

India Infoline News Service | Mumbai | December 15, 2014 14:30 IST

Report said that government and the oil companies are likely to share the LPG subsidy burden 50:50.

Fitch: Low oil prices and high capex will weaken credit metrics for rated oil and gas cos

India Infoline News Service | Mumbai | December 15, 2014 10:15 IST

The agency also expects ratings to remain stable in 2015.

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