- GAIL won’t revise Q3 subsidy of Rs 4.55bn upwards — Chairman of the committee on pricing of petroleum products in India Kirit Parikh, said that GAIL, which has been a subsidy scape-goat, had been left out of sharing any subsidy burden deliberately. “GAIL is more of a distribution company than an upstream company,” he said.
- Implement Parikh report in full or not at all: PSU refiners — Public sector OMCs believe that the Kirit Parikh committee’s recommendations on fuel pricing should either be implemented in full or just completely ignored as has been the case with other expert panels’ reports in the past.
- RIL submits EoI to buy Canada’s oil sands co — RIL has submitted an EoI to acquire Canadian oil sands company Value Creation (VCI), as it looks to expand its global footprint. RIL may be willing to pay as much as US$2bn.
- Finmin, Plan panel oppose new pipeline authority – The finance ministry and the Planning Commission have opposed the petroleum ministry’s plan to set up a new authority for developing petroleum and natural gas pipeline infrastructure in the country, as they think the existing downstream regulator, PNGRB, could be asked do this job also.
- India re-draws strategy in African oil assets – Union Petroleum and Natural Gas Minister Murli Deora said that GAIL had been shortlisted as one of the 15 companies having qualified for the ambitious US$30bn national gas master development plan and its implementation in Nigeria.
- New opportunities for hydrocarbon exploration in India – India is poised to emerge as a major source of hydrocarbon with its several prospective Neoproterozoic sedimentary basins, an official of the Birbal Sahni Institute of Palaeobotany (BSIP) has said.
- Other News: Losses on gas business amounted to Rs 24.23bn in 2008-09, says ONGC; PFC to extend Rs 36.4bn for ONGC’s first power project; No proposal to takeover ONGC’s Assam fields: OIL; Integrated development of D-1 field: ONGC board approves project with capex of US$417m, opex of US$604m; ONGC likely to partner Hungarian major; Relook at OVL’s Qatar exit plan
Download India Oil & Gas Daily (08 Feb 2010)
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