Korea Gas signs $1.1 bn gas deal in Canada: Report Economic Times South Korea annually consumes around 25 million tons of natural gas. South Korea is the world's fifth largest crude importer. It has no proven oil or gas ... |
ONGC to spend up to Rs 7000 crore to enhance oil output Economic Times 27 Feb 2010, 2242 hrs IST, PTI MUMBAI: State-run explorer, Oil and Natural Gas Corp (ONGC), today said it plans to invest up to Rs 7000-crore over the next ... ONGC's projects face delay on operational issues ONGC plans $25 billion spend on overseas oil blocks over 10 years |
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“We have been advised by the petroleum ministry to raise petrol and diesel price from midnight today to pass on the impact of the increased duty. Petrol and diesel prices will go up by Rs 2.71 a litre and Rs 2.55 a litre, respectively, in Delhi from midnight today,” IOC director (finance) SV Narasimhan told FE. Under the subsidy sharing mechanism put in place by the government for the petroleum sector, upstream oil companies like ONGC , Oil Indian Ltd (OIL) and GAIL India are required to pay price discounts to help OMCs bear under-recoveries on petrol and diesel sale. However, the upstream companies have shown their reluctance to share the subsidy burden.The oil and gas space will remain unchanged: Deven Choksey Economic Times Deven Choksey, MD, KR Choksey Securities in a chat with ET talks about the oil and gas space post the hike in petrol prices. What do you think of the oil ... |
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Given the current high inflationary environment, it comes as little surprise that the Government has again delayed biting the bullet on the Kirit Parikh Committee recommendations to deregulate transport fuel pricing and reduce subsidies on cooking fuels. This will continue to negatively impact the financial health of the sector, especially the public-sector oil marketing companies (OMCs) — IOC, BPCL and HPCL, which bear the brunt of under-recoveries. Also, public sector upstream companies, ONGC and OIL, and GAIL, which compensate the OMCs for under-recoveries on transport fuels will continue to be affected. Private refiners such as Reliance Industries and Essar Oil will also be impacted due to lack of a level-playing field in the petroleum products retail market.Information about auto components India
The oil and gas industry was keenly awaiting the Union Budget as it expected deregulation and an in increase in fuel and gas prices. There were hopes that some of the recommendations made by the Kirit Parikh committee would see light of the day. However, no such measures were announced in the Budget. The Finance Minister has also increased the Minimum Alternate Tax to 18% from the earlier 15%. Oil exploration and production companies had sought an exemption from MAT. At present, 15% MAT is applicable on booked profits (16.995% effective). No exemption has been granted on profits earned from commercial production or refining of mineral oil which are otherwise fully exempted from income tax for the period of seven years from the levy of MAT.Best of the Unit Plans Nashik found here.
India has made major oil and gas discoveries in recent years that should go a long way in ensuring the country’s energy security. And the credit goes to the national exploration licensing policy (Nelp) which has helped in expediting the government’s exploration programme by attracting private investment. Reliance Industries Ltd (RIL) and Scottish company Cairn Energy have made most significant discoveries from blocks awarded under the Nelp regime. Production from these discoveries—natural gas available from RIL’s K-G D6 block and crude oil from Cairn Energy’s Barmer block in Rajasthan — have dramatically changed India’s energy sector scenario. Sectors like power and fertilisers that use natural gas as fuel and feedstock have also benefited from the D6 gas. These discoveries find special mention in the Survey. TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).Information about India auto components
However, Consumer Durables Index was up 5%. IT and Capital Goods indices gained 2.8%. The Bankex rose 2.4%. Among the frontliners, Bharti, DLF, HUL, Reliance Communications, Reliance Industries, Reliance Infrastructure and Reliance Capital slipped 7-11%.These are the best Nashik LIC Agents.
Besides, Total E&P Nigeria Limited has commissioned MV Osayame, a Stern Driver Offshore Terminal Tug boat, at Onne, Rivers State, Nigeria. Total told the Associated Press yesterday, that it was working on projects with other partners and that its own investment was lower than earlier reported.Manufacturer of Oil Tanks India.
The Nigerian presidency had earlier announced that the plan would involve around 20 billion dollars, but Total said it is working on projects with other partners and that its own investment was lower than reported. Two of the projects have already been announced -- the development of the Usan deep water offshore field, which will go into production in 2012, and the exploration of oil block OML 58 in the Niger Delta.LIC Unit Plans and more information about LIC : LIC Unit Plans
The oil regulator wants the margin of $0.135 per million British thermal unit (mBtu) that Reliance charges for covering risks to be added to the government’s royalty. “The production sharing contract (under which firms such as Reliance produce oil and gas from areas assigned by the government) does not envisage the sharing of revenue earned by the contractor (RIL) on the marketing margin between the government and the contractor,” petroleum minister Murli Deora informed the Rajya Sabha in a written reply.Great Pension Plans for seniors and youngsters.
The 30-share Sensex was up by around 0.2 per cent at 16,265 while the broad based index Nifty was trading up by around 0.2 per cent at 4870. Metal major, Hindustan Zinc was up by around 1.75 per cent, Sesa Goa was up by around 1.5 per cent, NALCO was up by around 1.25 per cent while JSW Steel was up by more than 1 per cent. But, it was banking shares that helped the markets to retreat early losses. Banking major, Bank of Baroda was trading high by around 1.8 per cent, Axis Bank was up by around 1.5 per cent while Federal Bank, Yes Bank and Union Bank of India were trading up by around 1 per cent. Apart from this ICICI Bank was also up by around 0.9 per cent. In IT stock index, Wipro was up by around 1.25 per cent while Infosys was up by around 0.25 per cent.India auto diesel tanks manufacturer
Walen, 61, has been Cabot Oil's COO since February 2006 and is a senior vice president. The retirement announcement was made Sunday. He started his career as a geologist at Cabot's office in Denver and has served in a variety of positions, including exploration manager and head of the Gulf Coast regional office.In Nashik, These guys provide Insurance Plans Nashik\
Intangible drilling costs deduction: Companies can now deduct intangible drilling costs, such as repairs, site preparation and hauling supplies. Eliminating would save: $1.2 billion in fiscal 2011, $7.8 billion from 2011 to 2020. Percentage depletion: Mineral rights owners currently can deduct a percentage depletion for the value of oil, gas and other minerals removed from their property. Natural gas industry argues the incentive is critical for small, barely economic wells. Eliminating would save: $522 million in fiscal 2011, $10 billion from fiscal 2011 to 2020.Cabot Oil & Gas Corporation Announces Controller Retirement PR Newswire (press release) Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading independent natural gas producer, with its entire resource base located in the ... Cabot Oil & Gas Corporation Announces 2009 Results Record Production Levels Cabot Oil & Gas Corporation Announces Senior Vice President and Chief ... |
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The head of Libya's National Oil Corp., Shokri Ghanem, has his eye on expanding gas exploration and production in a bid to raise exports to Europe, as well as privatizing oil refineries and the petrochemical sector, according to an interview he gave this month to the Oxford Business Group. Once an international outcast, Libya now wants foreigners to take a greater stake in the oil market and in turn encourage local firms to play a larger role as well.LIC Insurance plans here LIC Insurance Plans
Iran said it had discovered the Soumar oilfield and Halgan gasfield with total value of reserves at $85 billion. National Iranian Oil Company (NIOC) director of exploration Mahmoud Mohaddes said that around 70 per cent of the gas was recoverable and less than half of the condensate gas was recoverable.Oil Tanks India manufacturing facility.
NEW YORK (Dow Jones)--The number of rigs drilling for oil in the U.S. slipped this week, but the gas rig total rose as producers continued to ramp up output in response to higher prices. The number of oil and gas rigs fell to 1,345, down one rig from the previous week, according to ...ONGC discovers oil and gas in Gujarat Press Trust of India Vadodara, Feb 19 (PTI) The Oil and Natural Gas Corporation (ONGC) has succeeded in discovering oil and gas from a well being drilled in Karjan taluka area ... ONGC Videsh bonds hit regulatory bump Indian oil companies to pick stake in Chinese gas project OVL, GAIL get nod for stakes in China pipeline |
 Digital Energy Journal | Budget 2010: Oil & Gas industry awaits impetus for accelerated growth Economic Times The Oil & Gas Industry is no exception. The sector is eagerly looking forward to immense impetus for increasing investment levels and accelerating the pace ... Oil & Gas Round-Up: 19 Feb Garner Named COO Of HighMount Exploration Stetson Provides Operational Update |
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On Tuesday, BP and ConocoPhillips, the oil and gas groups, withdrew from the US Climate Action Partnership, which campaigns for climate legislation. They say they need to make their case for themselves as the debate moves from whether an emissions cap is needed, to how it would be implemented. Indian Express | Sensex ends lower, realty, oil & gas decline Economic Times MUMBAI: Indian markets ended choppy session on a lower note taking cues from subdued global peers. Profit booking emerged after a two rally as the indices ... Sensex down 117 pts; Realty, Oil & gas drop Sensex down on metal, realty stocks Nifty opens below 4900 |
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BINGHAMTON, New York (Reuters) - New York landowners whose properties sit on the gas-rich Marcellus Shale are pushing back against calls for greater environmental regulation, saying it has halted the U.S. gas drilling boom at the New York border. Their concerns have opened a new front in the gas drilling wars, in which environmentalists and neighbors opposed to seeing gas wells in their back yards have put a drag on the exponential growth of onshore U.S. natural gas production. India Talkies | India drafting new regime to auction hydrocarbon assets: Secretary Economic Times NEW DELHI: India is working on a new policy to auction hydrocarbon assets for exploring oil and gas reserves on a perpetual basis, with a database being ... New policy to auction hydrocarbon assets on anvil |
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Following an ambitious exploration programme in central Oman, PDO has made a major oil discovery at Al Ghubar South, close to the existing Al Ghubar and Qarn Alam fields, a company statement said. In all, four exploration and appraisal wells were drilled in 2009 to confirm the discovery, and further drilling to delineate further extensions of the field is planned during 2010. India Talkies | Sensex ends above 16300; auto, IT, oil & gas gain Economic Times MUMBAI: Benchmarks surged in last half an hour of trade and ended above psychological resistance levels Tuesday taking cues from positive European markets. ... Sensex Surges Past 16300 Mark : Auto, IT, Oil & Gas Stocks Gain Sensex extend gains; Metal, oil& gas up Sensex turns weak after inflation data |
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Following an ambitious exploration programme in central Oman, PDO has made a major oil discovery at Al Ghubar South, close to the existing Al Ghubar and Qarn Alam fields, a company statement said. In all, four exploration and appraisal wells were drilled in 2009 to confirm the discovery, and further drilling to delineate further extensions of the field is planned during 2010. Rediff | Sensex ends near 16000; oil & gas, PSU, banks down Economic Times MUMBAI: Indian markets ended choppy session on a lower note on Monday as sentiments turned bearish with higher than expected inflation figures. ... Sensex turns weak after inflation data Sensex lacklustre Bharti ONGC Sterlite HUL SBI slip Sensex ends lower; Bharti Airtel plummets |
 Rediff | Sensex ends over 200 points up; oil & gas, auto lead Economic Times MUMBAI: Benchmarks ended truncated week on a higher note taking cues from positive global markets. All sectoral indices ended in the green led by oil&gas, ... Nifty recaptures 4800…Reliance, ICICI rally Sensex Closes 230 Pts Up On Strong Global Cues Sensex up over 200 pts all sectoral indices gain |
Oil regulator asks RIL to club gas margin with sale price Times of India However, costs involved in marketing of oil or gas are excluded and a contractor is not allowed to recover the same from the sale proceeds. ... |
The sentiment has improved in the oil and gas sector: Seshadri Bharathan Economic Times ET Now caught up with Seshadri Bharathan, Investment Analyst to get his views on oil and gas stocks. Are you looking at the oil and gas space in a renewed ... |
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However, selling in oil & gas, FMCG, realty and select power stocks capped the gains to major extent and was also aiding to the volatility. The markets reported total turnover of Rs 68,000 crore, including Rs 55,000 crore from the NSE F&O segment. Rediff | Sensex under pressure; oil & gas, IT, FMCG down Economic Times However, Asian counters were trading with minor losses Monday on the back of disappointing earnings and as oil prices rose. The Nikkei dropped 0.20 per cent ... Nifty slides below 4700…Metal, Oil stocks drag Nifty volatile; Tata Steel, Hindalco, Wipro top losers Sensex up 20 pts amid volatility; Realty, metal stocks rise |
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The committee hopes to cap the government’s share of the subsidy burden by reducing total subsidy and consequently under-recoveries. It has fixed a crude price-linked formula for the share of burden to be shouldered by upstream companies. Key measures include eliminating all petrol and diesel subsidies by deregulating prices at the refinery and retail level. Secondly, reducing public distribution system (PDS) kerosene allocation across India by 20 per cent at least and raising PDS kerosene prices by Rs 6 per litre. Finally, the committee recommends increasing LPG prices by Rs 100 per cylinder. The Hindu | Oil companies react to fuel price deregulation hopes Economic Times MUMBAI: Oil & gas counters witnessed a strong start on Thursday amid reports that the government is considering a proposal to deregulate fuel prices. ... Kirit Parikh panel for market-determined petrol, diesel prices Parikh report effect? Oil stocks surge up to 4pc on BSE Implementation of Parikh Committee report remains challenge: Ambit |
The Hindu | Govt to consider fuel price deregulation proposal Economic Times Upstream state firms Oil and Natural Gas Corp and Oil India are required to sell crude at a hefty discount to ease the pain of fuel retailers, but the costs ... Kirit Parikh panel for market-determined petrol, diesel prices Kirit Parikh panel for freeing fuel prices |
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A draft cabinet note on the move is being examined by the budget and infrastructure divisions of the Department of Economic Affairs are learnt to be examining the note and a final call on the proposal would be taken by the Finance Ministry. The central government earned Rs 9,423 crore in FY09 from petroleum royalties and is estimated to mop up Rs 8,018 crore in FY10. The Hindu | ONGC's former chief Subir Raha passes away Economic Times A workaholic, Raha is credited with taking ONGC where it is today -- the nation's largest oil and gas producer. He single handedly drove ONGC's vertical ... Former ONGC chief, Subir Raha, passes away Former ONGC chairman Subir Raha passes away |
Iran plans to build 7 refineries Jerusalem Post Iran plans to build seven new oil and gas refineries in a bid to diminish its vulnerability to sanctions from foreign refineries ... |
