Posts Tagged ‘ ONGC ’

NELP VII : Future of Oil exploration

In the recently concluded NELP VII round of bidding under the new exploration licensing policy (NELP) the government has offered 57 oil & gas blocks under NELP-VII. This included 19 deepwater blocks, 29 are onland blocks and nine blocks are in shallow water.  NELP So far In previous six rounds, the government awarded 162 blocks. So [ READ MORE ]

PCPIR, Kakinada AP: $85 Billion Investment

Hyderabad: ONGC Ltd has decided to exit the proposed refinery-cumpetrochemicals project at Kakinada in Andhra Pradesh, making way for the GMR Group, which will hold 51% equity in the project that was originally to cost Rs 31,000 crore. The project is part of Andhra Pradesh’s Petroleum Chemical and Petrochemical Investment Region (PCPIR) proposed over 600 square [ READ MORE ]

Rigs demand: Offshore support companies on rise

As the quest for discovering oil hidden deep under the sea bed gathers momentum, fortune of Indian companies engaged in providing offshore support solutions to oil exploration companies have been riding high on the bourses.  The biggest development in this sector was the announcement of NELP-VI in February 2006, under which a total of 55 [ 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 ]

LNMittal: Planning Big in Indian Oil & Gas sector

 An analyst said that Cairn’s Rajasthan assets would fit the bill as Mittal already owns 49 per cent stake in Hindustan Petroleum Corporation’s (HPCL’s) upcoming 9 million-tonne per annum refinery at Bathinda in Punjab. Production from Cairn’s Rajasthan field is expected to begin in mid-2009. The Bathinda refinery would be completed by 2010-11. “The crude oil [ READ MORE ]

Multi bagger in making

Asian Oilfield, is engaged in short drilling  for ONGC & other private players, as evident from the financials company is witnessing a huge growth in the sales & porofit & planning to add two more rigs. Return on Total Assets (ROTA) 17.32% Return on capital employed (ROCE) 27.14% Considering the sprut in E& P sector, company is poise to have [ READ MORE ]

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