Paves the way for a new policy after CCEA approval

The Law and Justice Ministry has favoured a stable, five-year gas pricing formula, and also advocated a single price for all sources of gas. This would be put into effect from April 1, 2014, after approval of the Cabinet Committee on Economic Affairs (CCEA).

Over the last few months, the ministry of petroleum and natural gas (MoPNG) has cleared around 200 pending management committee (MC) resolutions involving oil and gas blocks operated by both public

The petroleum and natural gas ministry is expected to move a Cabinet note on gas pricing to the Cabinet Committee on Economic Affairs (CCEA) as early as next week, Veerappa Moily, minister of petro

The Tripura government is encouraging exploration agencies, including state-owned companies ONGC and GAIL, to go for massive gas exploration drive in the state.

Supreme Court judgement dated 09/05/2013 in the matter of Arun Kumar Agrawal vs Union of India & Others on approval granted by GOI for the acquisition of majority stake in Cairn India Limited.

Domestic gas prices may be fixed at $2 lower than the $8.8-per-unit price discovered by the Rangarajan commitee constituted to suggest changes in the production-sharing contract and future domestic gas-pricing mechanism.

Sources said the oil ministry agreed to the basic principle of gas pricing suggested by the panel, but wants it to be modified slighty to also take into account gas prices in countries such as Malaysia, Saudi Arabia, Qatar and Nigeria that account for a major portion of India's liquified natural gas imports.

The Tripura government, Oil and Natural Gas Corporation (ONGC) and a private company signed a tripartite agreement on Tuesday to establish a huge urea fertilizer plant in the State. The State government would have a 10 per cent stake in the Rs. 5,000 crore project which will come up in the Kumarghat area of north Tripura by 2016.

Sudhir Vasudeva, CMD, ONGC, Vice President of the Chambal Fertilizers and Chemicals Limited (CFCL) M.S. Rathore and Secretary of Tripura government Samarjit Bhowmik signed the agreement.

MoU will be signed to set up natural gas fertiliser manufacturing factory early next month

Oil and gas major ONGC will sign an agreement with the Tripura government to establish a fertiliser manufacturing unit near Kumarghat in Unakoti district.
The MoU would be signed to set up natural gas fertiliser manufacturing factory early next month, state's Industries and Commerce Minister Jitendra Chowdhury told reporters here.

As per the contract, the service partner KRPEL will bring the investment and expertise to rejuvenate the depleted fields of the ONGC
ONGC

Oil and Natural Gas Corporation Limited (ONGC) chairman and managing director Sudhir Vasudeva said that the state-run enterprise intends to set up its own power plants, not just gas-based but also power plants based on nuclear, wind and other unconventional energy sources.

ITC, Yes Bank, HCL, Infosys, ONGC. More and more businesses are now realising there are long-term benefits in going green.

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