Petroleum / Mining in India
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INDIA, 2016/04/27
Ahead of 2040, as India’s people continues growing and its economy expands to additional than five-times its current size, the country is to lead the surge in world request for energy. A cross-country surge in energy request and new regulations aimed at improving the oil and gas sector are to position India as a world bright spot for energy firms worldwide amid an increasingly complex scenario. And Oil and Gas Minister Dharmendra Pradhan has the task of reforming India’s natural resources policies and implementing them in a equitable manner to win the confidence of the world industry
The present and rather sustained crash in world crude prices is due to oversupply – at the same time as producers are taking out additional than world request. In 2014, at the same time as prices were hovering above $100 a barrel, producers were extracting approximately 90 million barrels a day and the world request was around 93 million barrels. And the Indian economy was thriving in that false sense of security. With oil being a finite commodity, expectations of prices rising beyond the $200 dollar/barrel were rife. But factors the industry did not take into account include the rise of new technologies, energy efficiency due to public discourse and behavior change, and new oil and gas producing nations coming through. The same producers are extracting additional than 96 million barrels of oil daily, while world request is around 94-95 million barrels a day. As a result, prices have crashed to historic lows of around $30-$40 a barrel.
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CHINA, 2015/11/03
Recently China has become the driving force of the NGV sector development, which made it possible to double the world NGV fleet within five years. The Russian NGV industry can't show such high rates of increase that the NGV industry leaders have. Nevertheless, alongside with constructing filling stations and purchasing equipment, large-scale preparation activities are underway presently: agreements are being concluded with the regions, the regulatory base is being improved, the industry is mastering the manufacture of NGV machinery and equipment for filling stations.
Proper provisional arrangements will result in the explosive increase of the Russian NGV sector by presently by 2020. As it is known, the Russians are slow starters but they drive fast.
China's not its own master
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INDIA, 2015/05/10
Gold prices gained at the domestic bullion market on modest buying support from jewellery traders and retailers amid higher world advices.
Silver as well moved higher on renewed industrial buying. Standard gold (99.5 purity) firmed up by Rs 50 to end at Rs 26,930 per 10 gram against Friday's closing level of Rs 26,880.
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INDIA, 2015/01/01
Indian consortium International Coal Ventures Pvt Ltd (ICVL) to date has shipped to India 70,000 tons of coal mined in Mozambique, which was destined for the Steel Authority of India (SAIL), said a source from the consortium.
Quoted by daily newspaper The Hindu, the source as well said two shipments had been made in three months and from January 2015 the company would start to make a shipment per month of coal mined in Benga, in Mozambique’s Tete province.
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INDIA, 2014/12/06
A Memorandum of Considerate (MoU) was signed by the National Trading Corporation, the Indian Oil Corporation Ltd and the Mangalore Refinery and Petrochemicals Ltd on November 27 in Port Louis regarding participation in the setting up of oil storage terminals in Mauritius.
The MoU was signed in the presence of the Minister of Industry, Commerce and Consumer Protection, Mr Cader Sayed-Hossen and the High Commissioner of India in Mauritius, Mr. Anup Kumar Mudgal.
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AFGHANISTAN, 2014/11/14
The national gas companies of Turkmenistan, Afghanistan, Pakistan, and India have established a company that will be engaged in construction, owning and operation of the planned 1,800-kilometer Turkmenistan-Afghanistan-Pakistan-India gas pipeline, ADB said on November 13.
“Establishment of the TAPI pipeline company is a key milestone in the development of the pipeline. It is a tangible sign of transformational cooperation part the parties that presages the enhanced energy security, business prospects, and in general peace and stability in the region promised by the pipeline,” Klaus Gerhaeusser, Director General of ADB’s Central and West Asia Department said.
Turkmenistan’s Turkmengas National Concern, Afghan Gas Enterprise, Inter National Gas Systems (Private) Limited, and GAIL (India) Limited own equal shares of the company.
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INDIA, 2013/10/04
The Indian government has approved the deals involving national groups Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to acquire two 10 % stakes in an oil block in Mozambique, Indian newspaper the Economic Times reported.
The initial transaction was made in June as part of a partnership between ONGC Videsh, the foreign arm of ONGC and Oil India and involved acquisition of a 10 % stake in the Area 1 block of the Rovuma basin, northern Mozambique, from Indian group Videocon Industries for US$2.475 billion.
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INDIA, 2013/08/11
Miner Coal India, which produces around 80 % of the country's coal, is likely to issue its initial import tender in 2013-14 for an initial 5 million tonnes if its power producing customers place orders, a senior company source said.
The national-run company, the world's top coal miner, has been unable to dig up coal, which India has plenty, fast enough to feed Asia's third-major economy's burgeoning request for power.
As coal fuels additional than half of the country's power generation, Coal India has been directed by the government to supply 80 % of the fuel supply needs of its power station customers, even through costlier imports, given its inability to produce sufficient coal locally.
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AFGHANISTAN, 2013/04/21
The Union Cabinet today approved the proposition of the Ministry of Petroleum & Natural Gas to permit GA1L( India) Limited to sign the Gas Sale & Purchase Agreement (GSPA) with TurrnenGas, Turkmenistan`s national oil company, for the Turkmenistan-Afghanistan-Pakistan-India (TAPI) Gas Pipeline Project.
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INDIA, 2013/01/01
The oil ministry has decided to allow Cairn India to further explore Rajasthanoilfields, a decision that could raise the block's output by over 70%. The decision will as well intensify exploration activities in other producing fields operated by ONGC, GSPC and Reliance Industries, government officials said.
