French forces kill leader of al-Qaeda in the Islamic Maghreb
Droukdel was killed on Thursday near the Algerian border, where the group has bases from which it has carried out attacks and abductions of Westerners in the sub-Saharan Sahel zone.
Domestic crude output falls 7% in May
Crude oil production declined to 2,602 thousand metric tonnes (TMT) in May, with fields operated by the...
Essar, GSPC bag most of RIL-auctioned natural gas
Essar Steel and Gujarat State Petroleum Corporation have won two-thirds of the natural gas ...
Reliance to produce new gas from D6 by end June; to cost $2.2/unit at current oil prices
At current Brent oil price of around USD 26 per barrel, the gas from R-Series field in KG-D6 block will cost about USD 2.2 per million British thermal unit - lower than even the government mandated rate of USD 2.39 for gas from state-owned ONGC fields.
Mundra LNG terminal to be commissioned by December
The terminal was mechanically completed in mid-2018 and was inaugurated by Prime Minister Narendra Modi.
Vedanta cuts oil production at its Rajasthan block by a tenth
Vedanta didn’t name customers who have cut intake. Indian Oil, Nayara Energy and a couple of other refiners are Vedanta’s key oil customers. Vedanta produces a small quantity of gas and sells mainly to GSPC. The production has fallen to 160,000 barrels of oil equivalent per day (boepd) from 180-190,000 barrels.
Shuttered buyers send force majeure notices to energy companies
As nationwide demand plummets, oil and gas players flooded with such notices.
Reliance-BP to auction more gas from KG-D6 block this month
Reliance Industries and its partner BP plc of UK will this month offer for sale more natural gas from its KG-D6 block to users as it prepares to put into production second wave of discoveries in the eastern offshore block.
Company in strong financial position, has funds to meet capex needs: ONGC
ONGC in a statement said,"it has strong financials in place to finance its projects both ongoing as well as upcoming ones."
GAIL, regulator at odds over Rs 1.5K crore pipeline
PNGRB said on November 6 that it had cancelled the bid process for Langtala-Jodhpur-Bhilwara pipeline “as the tariff quoted by GAIL (India) Ltd was found to be excessively high, impacting the viability of the gas itself.” That very day, the board also invited bids for laying a new gas pipeline on altered route from Langtala to Pali via Jodhpur.
Essar Steel, Adani, GAIL, HPCL buy bulk of Reliance gas
Essar Steel picked up 2.25 million standard cubic meters per day or about half of the available volumes in the day long auction conducted on November 15. Gujarat State Petroleum Corp (GSPC) picked up 1.2 mmscmd while Adani Group, Mahanagar Gas Ltd and GAIL bought 0.3 mmscmd each, sources said. Hindustan Petroleum Corp Ltd (HPCL) bought 0.35 mmscmd.
GSPC to commission Mundra LNG terminal in 2-3 months
IOC had in August last year stated that it will acquire up to a 50 per cent stake in the Adani Group-backed Mundra LNG import terminal in Gujarat for an estimated Rs 750 crore.
ONGC bought GSPC gas field stake for half the asking price of Rs 20k cr, replacement cost: Ex ONGC chairman
ONGC, D K Sarraf said, has been in the business of acquisition of oil and gas assets for decades, with its overseas investment arm ONGC Videsh Ltd (OVL) amassing 41 projects in 20 countries.
Demand for cut in gas rates as global LNG prices fall
The price ceiling for gas from difficult fields today stands at $9.32 per million metric British thermal unit (mmBtu) while the domestic formula price.
Petronet drops plans to buy stake in GSPC's Mundra LNG plant
GSPC first offered its 50 per cent stake in the Mundra project to IOC, but the company was willing to take not more than 25-26 per cent.
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