Cairn India has asked the Centre to assure Rajasthan the point of sale for the crude from its Barmer oil field would remain in the state and warned any uncertainty in this regard could affect production schedule.
Bulk users and industries may no longer be able to use subsidised diesel as the government may announce a dual pricing policy for the fuel.
Plunging crude prices have been offset by Re's dive & shooting interest rates.
Fertiliser sector to get priority, RIL may have to import if it is required to meet any obligation.
ONGC Videsh (OVL) and China’s Sinopec are once again pitted against each other for global oil assets. This time around, it is to acquire Canadian oil firm Tanganyika Oil.
RIL can technically sell its Krishna-Godavari (KG) basin gas at a price higher than the government-discovered price of $4.20 per million British thermal units (mBtu).
ONGC Videsh, which is awaiting approval from Russian authorities to acquire the UK-based Imperial Energy, has kept its options open of roping in one of the Russian national oil companies.
State-run ONGC is close to striking black gold in its Cauvery basin deepwater block, with the first well drilled in the block expected to reach the target depth by the end of this month.
The government is obtaining legal opinion for imposing a special oil tax on the domestic crude oil production under the New Exploration Licensing Policy (Nelp).
Govt has initiated talks with RIL to ensure that LPG from its refineries at Jamnagar continues to be sold in domestic market only.
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