Oil & gas sector is attractive: Dipan Mehta Economic Times Dipan Mehta , Member BSE and NSE in an interview with ET Now talks about oil & gas sector. What's going wrong here? Would it be the belief that because of ... Oil and gas space looking attractive: Dipan Mehta |
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NEW DELHI: In an effort to make prices uniform for consumers, the Oil Ministry has asked Plan panel to set up a committee to suggest a mechanism for averaging out price of costlier imported LNG with cheaper domestic gas. "We have suggested to the Planning Commission that a committee be formed on 'Pooled Pricing' of gas," Oil Secretary S Sundareshan said at a FICCI conference here. He said the panel may be headed by Advisor (Energy), Planning Commission and may include Chairman, Gail (India) Ltd; Managing Director and CEO, Petronet LNG Ltd; Secretary, Petroleum and Natural Gas Regulatory Board and Director Finance, Oil and Natural Gas Corp (ONGC).Visit http://axa-equitable-life-insurance.itpatil.com/ for AXA Equitable Life Insurance Blog, News and Reviews.
At 11.23 a.m., the Sensex was trading up 149.27 points or 0.78% at 19,285.88 with 20 components gaining. Meanwhile, the Nifty was trading higher by 37.90 points or 0.66% at 5,789.85 with 28 components gaining. The 30-share benchmark index, BSE Sensex opened with a gain of 93.73 points or 0.49% at 19,230.34, while the broad based NSE Nifty started with a rise of 76.60 points or 1.33%, at 5,828.55.Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.
The Independent Oil and Gas Association of New York says the moratorium, which currently is under consideration by the state Assembly, would halt most gas and oil drilling currently allowed. The group also says the proposed moratorium has flaws that would harm the state’s entire gas and oil industry. Environmental groups favor a moratorium because they believe hydraulic fracturing (or “fracking”), the process used to extract natural gas from the ground, contaminates water sources.Manufacturer auto fuel tanks
The company said it would extend the repayment date and also put a 90 day standstill period on US$28.9 million it holds in secured convertible bonds.Information about India auto components
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Now we are getting to the lower end of the pattern and the support for that index is around 10000. So I do not think this support level is going to get broken. Therefore, we could see a bounce back in some of these oil and gas stocks after the fall that they have seen in the recent past. So if you have to pick anything from the underperformer space, it would be oil and gas. BSE Quotes and BSE Sensex are real-time and licensed from the Bombay Stock Exchange. NSE Intra-day quotes are 15 min. delayed. All quotes in IST.Visit http://allstateinsuranceproducts.wordpress.com/
The energy company announced results of its tender offer for up to $300 million in aggregate principal of its outstanding convertible senior notes at 4.375 percent interest, due in 2028. The offer expired at 5 p.m. Tuesday.for more information about Allstate insurance products News / Reviews
Carrizo accepted for purchase $300 million aggregate principal amount in convertible senior notes for an aggregate consideration of about $306.3 million, including accrued and unpaid interest.Visit http://aiginsuranceproducts.wordpress.com/ for AIG Insurance Products News / Review
Eni Trading & Shipping has 85 people in London today and plans to reach 150 in 2011, Managing Director Marco Alvera said at a briefing yesterday. About 80 percent of staff will be involved in trading crude oil and products, with the remainder concentrating on natural gas and power, he said. London was “a natural choice” as the center of Eni’s trading business because of its place as a trading hub and the Rome-based company’s links with the U.K., Chief Executive Officer Paolo Scaroni said. Eni Trading & Shipping also has offices in Amsterdam, Houston, Rome and Singapore and Brussels.Visit http://axa-equitable-life-insurance.itpatil.com/ for AXA Equitable Life Insurance Blog, News and Reviews.
Aegis Logistics, a leader in Oil, Gas and Chemical Logistics, today entered into a major deal with APM Terminals Pipavav to avail on sub-lease close to 100 acres of land for building a global oil and petrochemicals storage complex. This was announced at a joint press conference hosted today by both companies. Aegis will invest up to Rs 400 crores ($90m) in building a 600,000 KL oil terminal complex in Port Pipavav. “The facilities at Port Pipavav will service oil companies who wish to use the port for import and export of oil and petrochemical products,” said Anish Chandaria, MD & CEO of AEGIS. “For the first time, India is becoming part of the Asian supply network for oil and this port will be a strategic infrastructure for contango and arbitrage trading strategies. With our existing locations in Mumbai and Kochi, we are one step closer to achieving our stated aim of creating a ‘necklace’ of similar port terminals around the coastline of India. We will also be expanding our capacity in Kochi by 50% and building an additional 80,000 KL in Haldia Port”, he added. The Indian oil and gas logistics sector has remained relatively small by global standards until now, but with continued deregulation and liberalization of the Oil Sector by the Government the scope and the scale of the business is likely to undergo a huge expansion. Aegis’s mission is to build an unrivalled national port infrastructure and distribution network in the oil & gas sector in India.Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.
Indian equities are in a structural bull market, says Ridham Desai of Morgan Stanley. He advised every dip is an opportunity to buy Indian equities. "No doubt, valuations are on the higher side and hence prospective returns are slowing but a dip makes these future returns more attractive and warrant buying," he explained. All BSE sectoral indices ended in the green; the BSE Bank, IT, TECk and Realty indices jumped 2-2.6%. Auto, FMCG, Oil & Gas and Metal indices were up 1-1.8%. Globe and Mail | Pike River, NZ Oil & Gas shares suspended National Business Review Shares in Pike River Coal (PRC) and its part-owner, NZ Oil and Gas (NZO), have been suspended from trading on the NZX after an explosion at PRC's West Coast ... Trading halt for mining companies Shareholder scrambles to update investors Mine blast puts NZOG shares into trading halt |
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Two groups of people will be affected — those who buy lands which have been leased for oil and gas, and the owners of the surface in which another party owns the subsurface, or oil and gas interest. Both of these groups are particularly anxious, and with good reason. Ownership or control of the subsurface oil and gas can have significant consequences to the owners of the surface.Visit http://allstateinsuranceproducts.wordpress.com/
The total rig count retreated from a 22-month high, losing eight to 1,677. The combined oil and gas rig count rose to a 22- year high in 2008, peaking at 2,031.for more information about Allstate insurance products News / Reviews
Gas rigs dropped by 19 to 936. They have fallen 5 percent in 13 weeks. The gas rig count has dropped 42 percent from a peak of 1,606 in September 2008.Visit http://aiginsuranceproducts.wordpress.com/ for AIG Insurance Products News / Review
He said ONGC's production has been flat at approximately 25 million tonnes of oil per annum in the last ten years, while gas production amounted to 62 million standard cubic metres of gas per day on average, based on the discoveries made by the oil and gas explorer. Sharma said ONGC's follow-on public offer is slated for the January-March quarter, when a 5 per cent stake would be divested. When ten per cent was divested under the oil and gas exploration company's initial public offer in 2004, the government was able to raise Rs 10,500 crore.Visit http://axa-equitable-life-insurance.itpatil.com/ for AXA Equitable Life Insurance Blog, News and Reviews.
The options granted vest at a rate of one-third on each of the first, second and third anniversary dates from the grant date.All of the options expire on the fifth anniversary date from the date granted. Ironhorse Oil & Gas Inc. is a Calgary-based junior oil and natural gas production company trading on the TSX Venture Exchange under the symbol "IOG".Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.
Parker Hannifin, which makes pumps and controls for industrial and aerospace manufacturers, said the deal would expand its offerings to the oil and gas industry and add to earnings in the first full year. About Advertising EDGE Programs Reprints Terms of Use Disclaimer Privacy Notice Ethics Code Contact Us Site Map ©2010 Bloomberg L.P. All Rights Reserved.Oil Tanks India manufacturing facility.
Research by Oil & Gas UK provided evidence of a sustained upturn in sentiment in the sector as the prospect of strong demand for oil from countries like China outweighed fears of a double dip recession.Oil Tanks India manufacturing facility.
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The Rajasthan government has been pressing for a 9-12 million tonnes per annum refinery at Barmer ever since Cairn India found 6.5 billion barrels of oil reserves in the Thar desert. The Barmer field can add 240,000 barrels per day (12 million tonnes per year) to the country's total oil production once plateau output is achieved. The Rajasthan government has been pressing for a 9-12 million tonnes per annum refinery at Barmer ever since Cairn India found 6.5 billion barrels of oil reserves in the Thar desert. The Barmer field can add 240,000 barrels per day (12 million tonnes per year) to the country's total oil production once plateau output is achieved. " ONGC has informed that the government of Rajasthan has indicated to take up 26 per cent equity stake in the proposed refinery," he said in a written reply to a question in the Rajya Sabha here.Visit http://allstateinsuranceproducts.wordpress.com/
The deal will diversify the company's exploration and production interests into light, sweet crude oil production. Williams' entry into the Bakken Shale play follows its move into Pennsylvania's Marcellus Shale, where the company has accumulated about 100,000 net acres over the past year and a half.for more information about Allstate insurance products News / Reviews
By 2013, about 25 percent of the company's exploration and production revenue streams are expected to be generated by oil production, up from 7 percent in 2010.Visit http://aiginsuranceproducts.wordpress.com/ for AIG Insurance Products News / Review
The Indian delegation comprising senior officials from Indian gas companies met Minister of Finance Winston Dookeran and Minister Energy and Energy Affairs Carolyn Seepersad-Bachan during their three-day visit. The Indian officials were Rajiv Kumar Mathur, executive director, Gas Authority of India Ltd. (GAIL), Sanjay Kumar, general manager, GAIL; and R.K.Garg, senior vice-president, Petronet LNG Ltd.Visit http://axa-equitable-life-insurance.itpatil.com/ for AXA Equitable Life Insurance Blog, News and Reviews.
An advisory committee's interim report recommended keeping the royalty rate at 12.5 percent while adding a "progressive tax" in a 20-60 percent range, depending on production yields. A final report was expected soon. [ID:nLDE6AA1EU] "The interim recommendations will essentially change the valuation picture of energy partnerships," said IBI Investment House analyst Guil Bashan. Bashan lowered his rating for Isramco (ISRAp.TA: Quote ), one of the partners in a group exploring for natural gas, to "reduce" from "buy" and his price target to 0.33-0.47 shekel from 0.64 shekel.Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.
The partners on the development of a big Azerbaijani gas condensate field Shah Deniz are planning to sign contracts on gas sale from the second stage of the project development in mid 2011, SOCAR president Rovnag Abdullayev told on Saturday. Trend reports that according to him the works are held on preparation of contracts with the Turkish side on transit of gas and sale and purchase of 6bn cubic meters a year within the framework of second stage of the field development.India auto diesel tanks manufacturer
It said it discovered the reserves after a successful drilling an exploration well in El Assel license area in the oil- and gas-bearing Berkine Basin, its first such discovery in North Africa.Manufacturer of Diesel Tanks India.
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The Pakistani prime minister expected that Italian oil and gas exploration company ENI, while competing for the pipeline project, would also be financially supported by the Italian government for undertaking the project, IRNA New Agency reported. The $7.6 billion project is crucial for Pakistan to meet the fast growing energy crisis, causing severe electricity shortages, People’s Daily reported.Visit http://allstateinsuranceproducts.wordpress.com/
The gas-directed rig count, which has fallen three times in the last five weeks, hit 992 in mid-August, its highest level since February 2009 when there were 1,018 rigs drilling for gas.for more information about Allstate insurance products News / Reviews
Horizontal rigs -- the type most often used to extract oil or gas from shale -- slipped three to 940 after hitting a record high of 943 last week, Baker Hughes said.Visit http://aiginsuranceproducts.wordpress.com/ for AIG Insurance Products News / Review
Bowleven's (BLVN) Sapele-1 exploration well drilling in the Douala Basin, offshore Cameroon has made two potentially significant hydrocarbon discoveries in Miocene reservoirs based on the results of drilling and initial wireline logs and pressure data. Bowleven plans to drill on to a total depth of approximately 4,450 metres to test further prospective horizons, including the deeper Cretaceous, a new play untested within this part of the Douala Basin. Planning for testing and sidetrack activities on the Miocene discoveries is underway. Gulf Keystone Petroleum (GKP) said the Bijeel-1 discovery well in Kurdistan has been successfully tested by the operator. Gulf Keystone has a 20% interest in the well. A joint cased hole test was performed for two intervals (3,729 - 3,967 meters) with a result of 3,743 bbl/d of 13° API oil and 618,826 scf/d (99 boe/d) gas through a 48/64 inch choke.Visit http://axa-equitable-life-insurance.itpatil.com/ for AXA Equitable Life Insurance Blog, News and Reviews.
IT, realty, oil and gas stocks were leading the decline. DLF was the biggest loser on the Sensex and the stock was trading 2.77 per cent lower. The company had reported a 5 per cent decline in profit after tax (PAT) on Wednesday. Bharti fell 2.50 per cent after its profits skid. ONGC declined 2 per cent. Among the gainers were metal stocks that rose 1.15 per cent. Consumer durable stocks were also trading higher. Hindalco was trading 3.71 per cent higher. Tata Power gained 2.18 per cent.Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.
Indices turned choppy after a positive start due to lack of buying interest after a sharp run-up before Diwali. The sell-off was in reaction to selling pressure in South Korean markets. According to analysts, investors are also cautious ahead of G-20 meet on Friday “ markets were under pressure due to correction in Korea. We are expecting around 50 points rise in opening trade tomorrow. There’s some concern following profit booking by FIIs as well in the previous session,” said Bharat Gala, president, Ventura Securities. Indices turned choppy after a positive start due to lack of buying interest after a sharp run-up before Diwali. The sell-off was in reaction to selling pressure in South Korean markets. According to analysts, investors are also cautious ahead of G-20 meet on Friday “ markets were under pressure due to correction in Korea. We are expecting around 50 points rise in opening trade tomorrow. There’s some concern following profit booking by FIIs as well in the previous session,” said Bharat Gala, president, Ventura Securities. “If the Nifty holds 6208 then we are likely to see 6224-6238-6267 levels. On the downside, once 6179 is broken then the index can even slip to 6137-6063 supports,” he added.Oil, gas development in St. Lawrence is frozen to Ontario border Montreal Gazette A moratorium announced last month on oil and gas development in the Gulf of St. Lawrence and the ... |
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ONGC, which is the licensee and a 30% owner in the oil-rich Rajasthan block operated by Cairn, has held back $500 million to Cairn India alleging that the expenditure had been inflated, a director in the company, who did not want to be named because of the sensitivity of the matter, said. ONGC, which is the licensee and a 30% owner in the oil-rich Rajasthan block operated by Cairn, has held back $500 million to Cairn India alleging that the expenditure had been inflated, a director in the company, who did not want to be named because of the sensitivity of the matter, said. “Cairn spent money over and above the approved budget. ONGC is a PSU, it is public money. We can’t spend it without approvals,” he said.Visit http://allstateinsuranceproducts.wordpress.com/
Yesterday, Shell announced the sale of 10% to leave a 24.3% stake. The remaining stake is in twelve-month escrow and can only be sold under a couple of specific conditions, one of them being into a takeover offer.for more information about Allstate insurance products News / Reviews
Firing speculation is the recent knock-back of the Canadian government of BHP's takeover attempt of Potash Corp, citing national interest grounds. (See What Chance A BHP Buyback? ). While BHP has been given a month to come back with some sort of concessionary offer, no details were released, and analysts are basically assuming “national interest” is a hard point to concede. In other words, it is now assumed BHP will abandon the bid.Visit http://aiginsuranceproducts.wordpress.com/ for AIG Insurance Products News / Review
The agreement was one among the several agreements signed during the visit of President Barack Obama. "The memorandum of understanding (MoU) was signed on November 6," he said in New Delhi. India does not have technology to exploit shale gas, an unconventional gas trapped in sedimentary rocks and the US is a pioneer in the field.Visit http://axa-equitable-life-insurance.itpatil.com/ for AXA Equitable Life Insurance Blog, News and Reviews.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) had threatened to embark on industrial action if the Federal Government failed to stop replacement of Nigerians with expatriates by both indigenous and international oil companies (IOCs) in the oil and gas industry. In response, the Federal Government has finalised plans that will ensure that companies seeking to get expatriate quota approvals for their operations in the oil and gas industry must first advertise the positions to Nigerians through national and international media outfits.Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.
The Oil and Gas sector also clocked impressive growth figures of 12% in October 2010 as compared to October 2009. "A look at the index for the past two years shows that there is usually a seasonal dip in hiring during the festive season. However, this year the sentiment is encouraging as sectors like Auto, Oil and Gas, ITES and Manufacturing continue to hire aggressively," Info Edge India CEO and MD Hitesh Oberoi said. Most of the other industry sectors like IT/ITeS, IT-Hardware, Manufacturing and Construction continue to maintain steady hiring levels. "For the coming months, macro and micro economic changes will impact the hiring plans in the country. For example if the rupee continues to strengthen export oriented sectors like IT, small and medium size industries will be impacted," Oberoi added.Manufacturer of diesel tanks India.
Hydrocarbon exploration has been carried out in this block since 1999 by a consortium of companies with MOL as an operator of the joint venture. MOL has a 10 percent interest in the consortium.Visit http://metlifeinsuranceproducts.wordpress.com/ for MetLife Insurance Products News and Reviews.
Horizontal rigs -- the type most often used to extract oil or gas from shale -- easily eclipsed the previous record high of 929 hit in early October. Analysts estimate that two-thirds of horizontal rigs are drilling for natural gas, and these comprise part of the overall rig count. The rest are drilling for oil.Visit http://allstateinsuranceproducts.wordpress.com/
Union Minister for Petroleum and Natural Gas Murli Deora on Thursday said Africa's largest crude oil and gas producer — Nigeria — was willing to increase oil exports to India besides liquefied natural gas (LNG). “Nigeria is our close friend and willing to help us in meeting our growing energy requirements. This is a positive development for securing India's energy security,'' Mr. Deora said. He recently had a meeting with Nigerian President's special adviser Emmanuel O. Egbogah.for more information about Allstate insurance products News / Reviews
Mr. Deora said that during his meeting, he took up the issue of GAIL (India) and Petronet LNG picking up stake in the $8-billion LNG project at Brass in the Niger delta. “We expressed interest in sourcing LNG on long-term contract from Nigeria and discussed the possibility of GAIL and Petronet joining in a LNG project,'' Mr. Deora remarked.Visit http://aiginsuranceproducts.wordpress.com/ for AIG Insurance Products News / Review
The development signals an increasingly aggressive approach of Indian state firms in targeting oil and gas assets abroad, in step with the oil ministry’s strategy that Indian firms should make at least one significant overseas acquisition every year. ONGC , along with smaller exploration and production (E&P) firm Oil India (OIL) and gas transmission company Gail India , hopes to grab a share in the massive natural gas reserves of the Perth, western Australia-based unlisted Advent to help secure energy supplies for the country’s rapidly expanding economy.Visit http://axa-equitable-life-insurance.itpatil.com/ for AXA Equitable Life Insurance Blog, News and Reviews.
New Delhi, Nov 2: Oil demand in India will grow 40 percent in the next 10 years, said Prime Minister, Manmohan Singh at Petrotech-2010 oil and gas conference, in New Delhi on Monday, Nov 1. "Demand over the next 10 years will increase by over 40 percent, whereas the increase in supply from the domestic oilfields is expected to be around 12 percent," he said. Manmohan Singh also stressed that, "India needs adequate supplies of energy at affordable prices to meet the demand of its rapidly growing economy." "In 2009-10, India consumed over 138 million tonnes of fuel. In which India imported 159.2 million tonnes of crude oil from the other countries and even Indian domestic sources are insufficient to meet the demand for energy, " he added.Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.
India’s energy demand would increase by over 40% in the next 10 years but supply from its ageing oil-fields was expected to increase around 12%, Dr Singh said highlighting the huge demand-supply gap. India’s energy demand would increase by over 40% in the next 10 years but supply from its ageing oil-fields was expected to increase around 12%, Dr Singh said highlighting the huge demand-supply gap. "The Indian government is, therefore, encouraging national oil companies to pursue equity oil and gas opportunities overseas," he said while inaugurating the ninth international oil & gas conference Petrotech-2010 in New Delhi.Manufacturer of Oil Tanks India.
Petropars has offered Oil and Natural Gas Corp (ONGC) and the Hinduja group 40 per cent stake in the development of Phase-12 of the giant South Pars gas field.Oil Tanks India manufacturing facility.
Petropars has offered Oil and Natural Gas Corp (ONGC) and the Hinduja group 40 per cent stake in the development of Phase-12 of the giant South Pars gas field. "The technical due diligence has been completed by ONGC. Financials and project model have been gone through," Petropars G R Manouchehri said on the sidelines of the Petrotech-2010 oil and gas conference here.India auto diesel tanks manufacturer
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New Delhi: The government, which was aggressively pushing for exploration of conventional oil and gas, had taken steps to tap shale gas to reduce the country's import dependence, Union Minister for Petroleum and Natural Gas Murli Deora said on Sunday. New Delhi: The government, which was aggressively pushing for exploration of conventional oil and gas, had taken steps to tap shale gas to reduce the country's import dependence, Union Minister for Petroleum and Natural Gas Murli Deora said on Sunday. “India launched its 9th New Exploration Licensing Policy (auction) this month offering 34 blocks, covering approximately 88,000 sq.km. (for exploration of hydrocarbons),” he said while inaugurating the Petrotech-2010 exhibition here.
