The wait for the east coast to have a liquefied natural gas (LNG) terminal might get longer, with Bharat Petroleum Corp Ltd (BPCL) and Oil and Natural Gas Corp Ltd (ONGC), the two state-run companies that had proposed to jointly develop a terminal in Mangalore, putting the plan on hold.

Senior executives in both companies say how far the two partners could sell the fuel in the domestic market is under doubt. Given that the Dabhol and Kochi terminals will be commissioned next year, Mangalore will be well-connected by pipelines, said a senior BPCL executive, who requested anonymity.

While announcing its results, Cairn India had said, a ?high-value, high-risk? prospect had been identified in the Ravva field

Cairn India, along with its partners Ravva Oil, Oil and Natural Gas Corporation (ONGC) and Videocon Industries, plans to invest about Rs 530 crore in new wells, which would help boost production from its Ravva field. As of September, the Ravva field produced 23,000 barrels of oil per day, along with 1.5 million cubic metres of gas per day, a sharp decline from the peak production of 50,000 barrels of oil a day and two million cubic metres of gas a day in 2004-05.

A nine-member working group will examine the ecology expert panel report

The Western Ghats Ecology Expert Panel report, submitted by ecologist Madhav Gadgil last year, was further delaying the Rs 30,000-crore refinery project of Hindustan Petroleum Corp Ltd (HPCL) in Maharashtra, a senior official of the state-run oil marketing firm said. The project has already been delayed due to bureaucratic red tape.

Petrol pricing may officially be out of the government’s control, but a veiled intervention by the government has resulted in Indian Oil Corp and other state-run oil marketing firms Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) differing on what is the best solution. BPCL and HPCL see IndianOil's call for moving into a price control regime as a “retrograde step”.

The government's fuel pricing policy led IndianOil, India’s largest oil marketing company, to post the biggest-ever quarterly loss at Rs 22,451 crore in the April-June period. While the oil marketing companies are compensated for revenue losses on diesel, cooking gas and kerosene, they are forced to take losses on account of petrol on their books.

To be second Indian company after Essar to have a refinery abroad

Indian Oil Corporation (IOC) will set up its first refinery outside India with an investment of up to Rs 20,000 crore in Sri Lanka. It will thus become the second Indian company to have a refinery abroad. The Ruias-promoted Essar Energy owns the Stanlow refinery in the UK and has 50 per cent interest in Kenya Petroleum Refinery.

Needed, it says, for covering its return and risks also wants govt to stick to contract on output sharing

Stuck with $4.2 a million British thermal units (mBtu) price for its natural gas till 2014, Reliance Industries Ltd (RIL) has sought from the government an import-parity price for sale of gas from its D6 field in the Krishna-Godavari basin (KG-D6). Doing so would allow KG gas to be sold at the import price for liquefied natural gas (LNG). If approved, this would mean KG gas could be sold at over three times its current price.

In talks with Shell, Petronet LNG to book capacity

Faced with a shortfall in gas production from its KG-D6 field, Reliance Industries Ltd (RIL) is set to make its debut in the marketing of imported natural gas. India Gas Solutions, the equal joint venture between RIL and British Petroleum (BP) set up to source and market natural gas in India, will shortly bring in liquefied natural gas (LNG) through the terminals of Shell India and Petronet LNG.

Late last year, when energy major British Gas’s Indian arm, BG India, announced plans to exit from two of its Indian energy assets, the industry wondered if it was a fullstop to BG’s India plans.

After a long wait for government approval, Reliance Industries (RIL) is to begin work on development of four satellite fields—D-2, D-6, D-19 and D-22—in India’s largest gas field, block D6 in the K

Shell and Total, operators of a liquefied natural gas (LNG) terminal at Hazira in Gujarat, have decided to take the terminal's annual capacity to 10 million tonnes per annum (mtpa).

The terminal at present operates at a capacity of 3.6 million tonne (mt). By 2013, this would be expanded to five mt. “With new gas pipelines being laid and LNG consumption in the country on an increase, more gas would be required. To meet the market requirement for future we intend to increase the terminal's capacity to 10 mtpa,” a senior company executive told Business Standard on condition of anonymity.