Mumbai turns favourite for commercial realty
Mumbai: The global real estate consultant Knight Frank said in a report that Central Mumbai has emerged as the country’s most attractive investment destination for office properties with 19% net annual...
View ArticleHPCL, Govt of Rajasthan ink MoU for 9 mmtpa refinery-cum-petrochemical complex
Rajasthan: Hindustan Petroleum Corporation Ltd (HPCL) and Government of Rajasthan have inked a Memorandum of Understanding (MoU) for setting up a state of the art 9 mmtpa refinery-cum-petrochemical...
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Oil Ministry instructs RIL to divert RCF’s gas to private cos
New Delhi: The Oil Ministry has commanded Reliance Industries Ltd (RIL) to reroute part of gas allocated to Rashtriya Chemicals and Fertilizers (RCF) to private power plants in Andhra Pradesh under...
View ArticleMoEF rejects HPCL’s expansion at Vishakh Refinery
Hyderabad: The state-owned petroleum major, Hindustan Petroleum Corp Ltd (HPCL) faced a major retard with the rejection of green clearance for its expansion plan at Vishakh Refinery by the Ministry of...
View ArticleDeveloping economies outpaces OECD nations in oil demand
Mumbai: Outpacing the oil demand from the wealthy league under the Organization of Economic Cooperation and Development (OECD) bracket, the developing nations has marked an almost 50% jump in the last...
View ArticleHPCL-Shapoorji Pallonji to form JV for LNG Project
Mumbai: State owned petroleum major, Hindustan Petroleum Corp Ltd (HPCL) and Mumbai-based infrastructure major Shapoorji Pallonji is all set to a joint venture pact for liquid gas (LNG) terminal on...
View ArticleGas delivery kick starts from Myanmaar-China pipeline
New Delhi: Aiming to address the energy crunches in China, the multi-billion dollar Myanmar-China natural gas pipeline is now functioning. The initiative involving investments of six players from four...
View ArticleGAIL India to sell partial stake in China Gas Holdings
New Delhi: State run, GAIL India Ltd targets to sell part of its 4.6% stake in China Gas Holdings, a Hong-Kong listed gas distribution company. However, the company will be withholding a small...
View ArticlePolicy regime for oil exploration is not stable: RIL
Mumbai: India’s largest private energy sector company, RIL expressed that the country does not offer a stable policy regime for oil exploration companies. “We do not have a stable policy regime, which...
View ArticleGCC to meet for unified petroleum price
Riyadh: The Gulf Cooperation Council’s (GCC) 32nd Petroleum Cooperation Committee meeting to be held tomorrow at Riyadh will take a final call on finalizing unified petroleum price across the...
View ArticleVenezuela: A new oil hotspot for Indian oil giants
Mumbai: ONGC Videsh Ltd, the overseas arm of Indian oil giant- ONGC and its partners are mulling raising stake in Venezuela’s USD 20 billion Carabobo-I oil project even as India looks at raising crude...
View ArticleONGC targets 53% rise in natural gas output by 2017-18
Mumbai: State run Oil and Natural Gas Corporation (ONGC) targets to achieve a 53% rise in its natural gas output with the commencement of new fields at western and eastern coasts. The company...
View ArticleONGC to drill shell gas from next year
New Delhi: Oil giant, Oil and Natural Gas Corp (ONGC) expressed that it is mulling to commence commercial drilling for shale gas next year. According to ONGC Chairman, Sudhir Vasudeva, the company is...
View ArticleOVL goes deep in Venezuela
New Delhi: OVL, the foreign arm of Oil and Natural Gas Corp (ONGC), announced that it has signed a MoU with Venezuelan state oil firm PdVSA for cooperation in oil-rich Faja area of the Latin American...
View ArticleRIL shuts KG-D6’s seventh gas block
Mumbai: Owing to high water and sang ingress, Reliance Industries has shut its seventh well on KG-D6 gas block due to high water and sand ingress. The company has been awaiting regulatory nod to carry...
View ArticleSesa Goa acquires 49% shares in WCL
Panaji: Sesa Goa Ltd acquired the remaining 49% of the shares in Western Cluster Ltd (WCL) from Elenilto Minerals and Mining LLC, Delaware. The cost involved in deal was valued at around US$33.5...
View ArticleHinduja arm acquires Houghton International for $1.045 bn
Mumbai: Gulf Oil, a subsidiary arm of Hinduja Group has completed acquisition of the US-based Houghton International for $1.045 billion (about Rs5,747 crore) and has completed all necessary regulatory...
View ArticleOPEC block to project robust output for 2013: GOR
Mumbai: Output by the OPEC block is likely to remain strong in 2013, discloses a recent Gulf Oil Review (GOR) report. The report further outlines only few member countries under OPEC to accelerate the...
View ArticleGGCL to receive RLNG from GSPC
Ahmedabad: Gujarat Gas Company Ltd (GGCL) entered into an agreement with state-run Gujarat State Petroleum Corporation Ltd (GSPC) to purchase re-gasified LNG (RLNG). Under the said agreement, GGCL will...
View ArticleShale gas policy to be soon placed before Cabinet: Moily
New Delhi: India is soon expected to receive a refined policy for the exploitation of shale gas reserves. Confirming the details over the policy, the Petroleum and Natural Gas Minister M Veerappa Moily...
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