The coal ministry is likely to move a cabinet note seeking permission for Coal India to extract coal bed methane (CBM) in its leasehold areas, the chairman of the state-run miner has said.

Parliament’s standing committee on finance has summoned senior petroleum ministry officials to explain the revenue implication of falling gas production from Reliance Industries Ltd’s (RIL’s) D6 block in the Krishna-Godavari basin (KG-D6) and the company's demand to increase the price.

Earlier this month, it had questioned the finance and revenue secretaries on the issue and sought details of revenue loss to the government on account of low production from KG-D6.

Imphal: United Committee on Protection of Natural Resources, Tipaimukh has demanded that the Manipur Government and Jubilant Oil and Gas Private Limited withdraw all efforts of exploration in the area.

All the MoUs signed on the issue should be declared as null, invalid and void and the government should immediately put a moratorium on the on-going exploratory projects, said committee president Darlienthang.

Parliament’s Standing Committee on Finance has ordered a comprehensive study into allegations that Reliance Industries Limited may have deliberately scaled back production of gas from fields in the

Will invest Rs 1,000 crore for the proj, which is to be commenced in 2015

Welspun Energy today said it will invest Rs 1,000 crore in setting up a 100 MW solar power project in Chhattisgarh. Welspun Renewables Energy Ltd (WREL), a subsidiary of Welspun Energy, has inked an MoU with Chattisgarh government for installing 100 MW Solar Power project, the company said in a press statement here. The MoU was signed in Raipur.

New Delhi In his last days at the Union petroleum ministry, S Jaipal Reddy had reiterated his opposition to a hike in the price of natural gas from the current $4.2 per unit at Reliance Industries’ KG-D6 block. If the company’s demand for price revision is accepted now, the exchequer could lose around $6 billion, Reddy said in a note prepared for the empowered group of ministers (EGoM) and a copy of which was sent to the attorney general (AG).

After India Against Corruption’s Arvind Kejriwal revealed this and posted purported copies of Reddy’s note dated October 10 on its website on Wednesday, RIL came out with a statement denying the allegations.

RELIANCE SHARES GAIN
Opposition slams govt for ‘shunting out AP politician under corporate pressure’

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.

Says A Govt Proposal That Is Being Touted As Only Viable Biz Model For The PSU

Gandhinagar: Only a viable business model, which includes stopping some of the unprofitable foreign operations immediately where huge sums have gone down the drain and progressively getting out of its other oil-and-gas explorations, can help Gujarat government’s premier PSU Gujarat State Petroleum Corporation (GSPC). Well-placed sources told TOI, a blueprint of the business model, discussed at a recent GSPC board meeting, is already under consideration at the “highest level”, and a final decision in the matter may be taken after the state assembly polls.

BARMER/JAIPUR: After oil, the deserts of Barmer are poised to produce methane gas.