Monday, May 20, 2013
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There is huge scope of upward revision of the shale gas estimates for India. "There is huge scope of upward revision of the EIA estimates of 63 TCF for the country, which are merely based on the available conventional data from these basins," Oil and Natural Gas Corporation (ONGC) chairman Sudhir Vasudeva...
The United States has granted conditional authorization to export domestically produced liquefied natural gas (LNG) to nations that do not have Free Trade Agreement (FTA) with it. The development has major implication for India as it opens prospects of export of US shale gas to India, Press Trust...
ONGC is looking at venturing into unconventional gas sources like shale gas and would bid for blocks once the Indian government puts in place a national policy. Company’s Chairman and Managing Director Sudhir Vasudeva said ONGC is already present in conventional space and would definitely look...
Reliance Industries (RIL) and BP are expected to conduct final test at a gas column recently discovered in the KG Basin off the coast of east India, Economic Times reported. “Drill stem tests will be conducted next week at the MJ-1 exploration well spud by RIL in D1 and D3 gas field in KG-D6,”...
Indian government is thinking of raising gas prices by 5 per cent annually for eight years to align them with global benchmark rates, Deccan Chronicle newspaper reported. Yet another proposal is to straight away sell 10 per cent of domestically produced gas at market prices linked to imports, as part...
ONGC has firmed up plans to rope in strategic private sector investors in three coal-bed-methane assets in West Bengal and Jharkhand. According to sources, in April this year, the ONGC board decided to rope in two strategic partners, with 25 per cent and 10 per cent stake each, as joint operators in...
BP Plc has relinquished 12 out of the 21 oil and gas blocks where it had bought 30 per cent stake from India's Reliance Industries Ltd (RIL) for $7.2 billion, due to poor hydrocarbon prospects, Press Trust of India reports. The British energy firm had bought the stake in 2011. "As part of continued...
Reliance Industries chairman Mukesh Ambani has said that the company plans to invest over $5 billion in various projects to revive gas output from its flagship KG-D6 fields, offshore eastern India. RIL and its British partner BP have submitted to the government plans to bring to production...
India’s Oil and Natural Gas Corp (ONGC) and Shell are mulling joint venture to bid for global oil and gas assets. Economic Times reports that this move follows up on their discussions for a partnership in India's upstream and downstream sectors. ONGC has been actively looking for partnerships...
Royal Dutch Shell on Monday announced the inking of a port service agreement with Kakinada Seaports Ltd (KSL) for setting up a floating LNG import terminal at Kakinada in Andhra Pradesh, India. A draft environmental impact assessment report has also been submitted, which along with the Port Services...