In a major diplomatic behaviour, Qatar has halved the price of the selling gas under a 25 year contract and has also relinquished a payment responsibility of Rs. 12,000 crore since India refused to import the committed number of shipments in the year 2015 under its ‘take-or-pay’ clause. India’s largest ...
Read More »India Plans Long-Term Gas Import at Cheaper Price
The central government is planning to approach global markets directly for long term gas supply pacts keeping in view of low prices of the fuel. GoI is planning to get gas for perhaps 5 to 7 years at a much cheaper price. The centre already has an effective scheme called ...
Read More »Proposed Revenue Sharing Model in Oil & Gas Sector could be a Game Changer
The central government is about to finalize a new policy for auction of oil and gas blocks during the ongoing financial year. Suggestion for this new policy is expected to come by 30th of November. The main agenda of this new policy will be to have a revenue sharing model ...
Read More »Rural consumers to get LPG cylinders at doorstep
Rural households may get cooking gas cylinders delivered at their doorsteps soon as part of Prime Minister’s push to take cleaner fuels to more homes. The government is looking for ways to make it viable for rural dealers to home deliver cylinders, the lack of which makes consumption of cleaner ...
Read More »Andhra Pradesh inks two MoUs for Kakinada LNG terminal
The AP Gas Development Corporation, Gas Authority of India, GDF Suez and Shell signed two MoUs for seting up an Rs 1800 crore floating LNG terminal at Kakinada deep water port. This would be the first LNG terminal on the East Coast of India when ready. The Kakinada LNG terminal ...
Read More »Indian Oil Corporation to invest Rs 1.75 trillion over 7 years
Indian Oil Corporation will be investing Rs 1.75 trillion over the next seven years to expand output by 54 per cent to around 100 million tonnes per annum. It has a capex plan of Rs 1.75 trillion over the next seven years. And out of this, Rs 50,000 crore will ...
Read More »Government calls for utilising rooftop space for solar projects
The Centre has asked its ministries, States and all educational institutions across the country to utilise the space available with them to install rid connected solar rooftop systems. The government has set a target of 40,000 MW of grid connected rooftop solar power generation capacity by 2022 under the National Solar ...
Read More »Indraprastha Gas unleashes intense marketing campaign to add 3 lakh households in FY16
Indraprastha Gas Limited has unleashed an intensive marketing campaign to chase a government-set target of adding three lakh households in the current fiscal, more than half of what it has achieved in 16 years of existence, but it is up against a messy urban planning and a sluggish property market. PM, wants one ...
Read More »ONGC, partners to invest $24 billion in Mozambique gas field
News: ONGC and its partners will invest about $24 billion in producing natural gas from a giant field off Mozambique, converting it into LNG for export. ONGC Videsh Ltd, the overseas investment arm of the state-run explorer, holds 16 per cent stake in Rovuma Area 1 where recoverable resources in excess ...
Read More »Fuel prices may fall as oil hits $40
News: International Crude Oil prices slid towards the $40 barrel mark, amid growing worries about the health of the Chinese economy, and raised the prospects of a fresh round of cuts in kitchen and auto fuel prices in India in the coming weeks. Although US oil prices headed towards the eighth ...
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