Indian Oil Corporation (IOC) has invited bids for the construction of a 5 million tonne-a-year LNG terminal at Ennore in Tamil Nadu, which would be constructed at a cost of Rs. 4320 crore.

According to officials, IOC is seeking expression of interest (EoI) proposals for a lump sum engineering, procurement and construction (EPC) contract for the LNG import and re-gasification terminal. The last date for submitting EoI is April 16.

Tanzania plans to raise spending by 17 percent in 2013/14 to 17.7 trillion shillings ($11 billion) with a focus on infrastructure projects, and aims to lift growth to 7 percent in 2013.

The petroleum ministry will approach a ministerial panel for a road map on a gas price pooling mechanism to help the power sector absorb the high costs of imported liquified natural gas (LNG) and prevent investments of over R1 lakh crore from becoming non-performing assets.

Petroleum minister M Veerappa Moily said on Wednesday that he will move a note for the consideration of a high-powered ministerial group to change priority of allocation of the fuel as well as pooled pricing of imported and domestic gas. Moily was talking to reporters after meeting with a delegation of power producers including Anil Ambani (Reliance Power), GM Rao (GMR) and Madhusudan Rao (Lanco).

In keeping with new-found proximity to Gujarat chief minister Narendra Modi, UK minister of state for foreign office Hugo Swire in the second high-profile visit to the state after British high commissioner James Bevan’s visit, spent an hour with the CM in a bid to take the “engagement” to the next level.

Briefing the media following his interaction, the UK foreign minister said the talks focused on “engaging more with Gujarat”. The high point of the visit, however, was the announcement made by BG chief executive Chris Finlayson of completion of the agreement for the long-term sale of LNG to India.

With its rising energy needs, India has emerged the fourth largest energy consumer of the world after the US, China and Russia, but its per capita energy consumption remains lower than that of deve

With its rising energy needs, India has emerged as the fourth largest energy consumer of the world after the US, China and Russia, but its per capita energy consumption remains lower than that of developed countries, says a report.

"India is the fourth largest energy consumer in the world after the United States, China, and Russia," the US Energy Information Administration (EIA) said in its latest report (for 2011) on energy outlook for India released here yesterday.

The state industry department has asked the Odisha Industrial Infrastructure Development Corporation (Idco) to formulate the draft memorandum of understanding (MoU) to be signed with Indian Oil Corporation Ltd (IOCL) after due consultation with district government pleader to avoid litigations.

The Petroleum and Natural Gas Regulatory Board (PNGRB), the upstream regulator for the petroleum sector, had already identified nine locations in the state such as Bhubaneswar, Khurda, Rourkela, Bhadrak, Jajpur, Anandpur, Baripada, Balasore and Kamakhyanagar for development of the city gas distribution network (CGD).

Consortium partners will sign memorandum of understanding on March 18

A consortium led by the Oil and Natural Gas Corporation Ltd (ONGC) will do a feasibility study on setting up a Liquefied Natural Gas (LNG) Regasification Terminal at the New Mangalore Port. The proposed terminal will have an initial capacity of 2-3 million metric tons per annum (MMTPA), which can be expanded to 5 MMTPA.

Policy on CBM in a week, shale in a fortnight

After unleashing a frontal attack on subsidies and increasing the pricing freedom of oil companies, the government is set to unwrap key policy initiatives this month with a view to augmenting the country’s energy security. These include a new policy to attract investors to shale gas — a relatively new energy source successfully tapped by the US and Canada — and a potentially more remunerative regime for investors in coal bed methane (CBM) blocks.