Posts Tagged ‘ Energy ’

Contracts like Reliance’s KG-D6 are designed to benefit private players:

After the CAG, the high-level Ashok Chawla Committee has criticised the system of Production Sharing Contracts like the one Reliance Industries signed for the gas-rich KG-D6 block, saying these contracts are designed to benefit private players at the government’s expense. Reliance bagged the KG-DWN-98/3 block in the first round of NELP, which was pioneered by [ READ MORE ]

KG Basin: Doubling India’s Gas Supply by 2010

India, Asia’s third-largest oil consumer, is encouraging use of natural gas to control its oil import bill and rein in inflation but there is not enough supply to satisfy rising demand. Gas demand in India, at around 179 million standard cubic meters a day, is far short of the supply of about 95 mmscmd (including [ READ MORE ]

Historical leap towards India’s energy security

Reliance is investing $5.2 billion to develop Krishna Godavari, its largest field. Gas produced in the area is expected to more than double the country’s total output. The Mumbai-based group’s Reliance Petroleum Ltd unit is building the 580,000 barrel-a-day refinery adjacent to a 660,000 barrel-a-day plant owned by the parent. Once complete, Reliance will own [ READ MORE ]

Oil prices making headlines..

‘Drowning in oil’ – Economist March 1999 “$10 might actually be too optimistic. We may be heading for $5.” ‘Oil reaches $30 a barrel’ – BBC 15th Feb 2000 “This rise in price is purely temporary” -OPEC Secretary General Dr Lukman ‘Oil hits new record above $80′- FT 14 Sept 2007 “too little, too late,” verdict [ READ MORE ]

Oil & Gas Market, India

Reliance Industries (RIL), which is set to kick off the first spot crude oil market in the country, will be inviting price quotes from oil refining companies shortly. This would also set the first benchmark for market-driven prices in the crude oil sector. RIL is set to be the first oil and gas private major [ READ MORE ]

India, The World’s Refiner

India ranks sixth in the world in terms of petroleum demand and by 2010, India is projected to replace South Korea and emerge as the fourth-largest consumer of energy, after the United States, China and Japan.  Since India is dependent on imports for nearly 70 per cent of its petroleum requirements, energy security has become [ READ MORE ]

NELP VII, Reliance bringing Global expertise

New Exploration and Licensing Policy (NELP) VII have been planned in Mumbai, London, Houston, Calgary, Singapore and Perth. The geo-scientific data has been made available online and data centers have been established at Delhi, London, Houston, Perth and Calgary. RIL plans to bid jointly with BP, Exxon Mobil and Chevron while ONGC is also looking [ READ MORE ]

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