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Cairn India's Mangala oil field completes 5 years of operations

India Infoline News Service  | Mumbai September 02, 2014 17:45 IST

The prolific rajasthan block, supported by the production from mangala and other fields, has contributed over rs 35,000 crore gross cumulative contribution to the exchequer in less than five years of starting operations.

Kerui enhances its Core Competency in the Drilling Market

India Infoline News Service  | Mumbai September 02, 2014 17:32 IST

Kerui aims to ensure the overall structural design for all of its products takes the leading position among like products in china while ensuring their performance.

Oil Minister may approach forum for deregulation of diesel rates

India Infoline News Service  | Mumbai September 02, 2014 15:57 IST

Pradhan also reported that oil marketing companies review prices of diesel every month and will continue to follow the january 2013 policy fo monthly increase,

ONGC says it needs $6-7.15 gas price to break-even: reports

India Infoline News Service  | Mumbai September 02, 2014 15:35 IST

The company reported that it will need a gas price of between $5.25 to $17.80 per mmbtu to break-even on 40.54 billion cubic meters of production.

Diesel retail price approaching market-linked pricing: ICRA

India Infoline News Service  | Mumbai September 01, 2014 16:30 IST

Icra research notes the current under-recovery on subsidised diesel has become almost nil based on previous pricing fortnight level of crude oil prices and foreign exchange rate.

Diesel Under-Recovery decreased to Rs 0.08/litre for the fortnight commencing 01.09.2014

India Infoline News Service  | Mumbai September 01, 2014 16:08 IST

Omcs are now incurring combined daily under-recovery of about rs 195 cr on the sale of diesel, pds kerosene and domestic lpg.

RIL returns nearly 1,384 acre of SEZ land in Haryana

India Infoline News Service  | Mumbai September 01, 2014 10:00 IST

Report stated thet the jv was established for development of sezs/model economic township (met) project and other infrastructure facilities in haryana.

India's proposal to split subsidies with oil producers is credit positive: Moody's

India Infoline News Service  | Mumbai September 01, 2014 08:27 IST

The plan, if implemented as we expect it will be, would be credit positive for ongc and oil because we expect their share of the fuel subsidies to decrease by 36%, or around rs. 220 billion, thereby improving their cash flows and profitability

ONGC Board approves investment of Rs. 5,219 crore

India Infoline News Service  | Mumbai August 28, 2014 19:34 IST

The project is located about 90-100 km from daman coast and includes additional development of c-24 field and monetization of b-12 marginal fields (b-12-11, b-12-13 and b-12-15).

4 directors on IOC board appointed in UPA regime sacked

India Infoline News Service  | Mumbai August 28, 2014 18:27 IST

The company has announced that k. jairaj, nesar ahmad, sunil krishna and sayan chatterjee have ceased to be independent directors on the board of the company on august 27, 2014.

Oil and Gas Round Up - August 25 to 28, 2014

India Infoline News Service  | Mumbai August 28, 2014 11:16 IST

The department of divestment has selected five merchant bankers for managing the 5% stake sale of ongc through the offer for sale mechanism, according to a media report.

MRPL successfully commissions phase-III of its Petrochemical Fluidized Catalytic Cracking unit

India Infoline News Service  | Mumbai August 28, 2014 09:48 IST

Pfcc unit will increase the production of propylene

Number of subsidised cylinders will continue to be 12

India Infoline News Service  | Mumbai August 28, 2014 08:56 IST

The government has now decided that while twelve subsidized lpg cylinders per annum will continue to be supplied to all domestic consumers, there will be no separate monthly restriction of one cylinder per month.

Oil: Absence of supply impetus

India Infoline News Service  | Mumbai August 26, 2014 11:25 IST

The perception of easing supply is growing stronger after international energy agency elaborated that the atlantic basin is facing supply glut, while opecs output has averaged 30.06mbpd in july, up from 29.92mbpd in june

ONGC stake sale: Govt selects merchant bankers

India Infoline News Service  | Mumbai August 26, 2014 11:20 IST

Among the bankers include citigroup and icici securities and the ongc stake sale is expected to be completed by the end of september

Andhra Pradesh CM calls on the Petroleum and Natural Gas Minister

India Infoline News Service  | Mumbai August 26, 2014 09:11 IST

Setting up gas grid, establishing city gas supply in the states and rationalizing the lpg connections were discussed.

GAIL to restart work on Rs 10,000-cr Energy Highway

India Infoline News Service  | Mumbai August 25, 2014 11:03 IST

Gail said it will construct a natural gas pipeline between jagdishpur in uttar pradesh and haldia in west bengal worth over rs100bn.

Economy to grow by 5.8%, Govt to exit diesel subsidy soon: ASSOCHAM

India Infoline News Service  | Mumbai August 22, 2014 13:10 IST

Fiscal situation is set to improve considerably with the government expected to completely exit subsidy on diesel soon said arvind mayaram.

Oil & Gas Round Up August 18 to 22, 2014

India Infoline News Service  | Mumbai August 22, 2014 11:54 IST

The shale gas industry, in north america has grown exponentially in the past 5 years. as a result ethane has become the dominant feedstock for crackers replacing liquids

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