AGARTALA, Nov 1 – The State government has approved a joint venture of ONGC and Tata Chemicals to set up a gas-based urea fertilizer plant in the State.

Agartala: State-owned ONGC’s proposed gas-based fertiliser plant in Tripura would meet the growing shortage of urea in the eastern and northeastern states of India and neighbouring Bangladesh, Tripura Chief Minister Manik Sarkar said here Wednesday.

ONGC in association with Tata Chemicals and the Tripura government would set up a Rs.5,000 crore plant in northern Tripura.

Attributes Jaipal’s ouster to his refusal to carry out Mukesh Ambani’s diktat

A deepwater well in a Krishna Godavari basin block operated by state-run Oil and Natural Gas
Corp (ONGC) has been leaking gas for two months and there are now fears of environment damage due to the uncontrolled flow.

The well G-1-9 in Bay of Bengal has been leaking gas since August-end and all efforts by ONGC to contain the flow have so far been futile. "This is a very old, drilled some eight or 10 years back. It wasn't producing till now and we had plans to put in on production sometime next year along with other gas finds in the area," a company official said.

New Delhi India's natural gas production dropped nearly 15 per cent in September as Reliance Industries eastern offshore KG-D6 field continue to decline.

Gas production at 3.36 billion cubic meters in September was 14.8 per cent lower than 3.95 bcm a year ago, according to latest data released by the Ministry of Petroleum and Natural Gas here today. Fields operated by private firms like RIL saw a massive 34.3 per cent drop in output to 1.15 bcm, it said but did not give field-wise data.

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.

Gujarat State Petroleum Corp (GSPC) going solo in acquisition of British energy major BG Group's stake in Gujarat Gas Co Ltd (GGCL) was a result of Oil Ministry blocking its PSUs from joining the Gujarat government firm.

Originally, a consortia of GSPC, Oil and Natural Gas Corp (ONGC) and Bharat Petroleum Corp Ltd (BPCL) was to buy 65.12 per cent stake in the nation's biggest private gas distributor. BG Group too had shortlisted GSPC-ONGC-BPCL as a consortia for the stake sale.

Oil and Natural Gas Corp (ONGC) on Sunday inaugurated a Rs 6,060-crore facility on the country’s biggest oil field to replace a massive platform that was gutted in a devastating fire seven years ago, killing 22 people and costing its then chairman Subir Raha his job.

The commissioning of Mumbai High North Process Platform will help the company raise output from offshore Mumbai High fields by 9,000 barrels a day to 206,000 bpd, Chairman and Managing Director Sudhir Vasudeva said after inaugurating the facility here. “The new process complex will result in production of 55 mt of oil and 6.5 billion cubic meters of gas by the year 2030,” he said.

Oil and Natural Gas Corporation (ONGC) and GAIL (India) are keen on picking up stake in the Rs.5,000-crore Kochi petrochemical project being executed by Bharat Petroleum Corporation Limited (BPCL) in joint venture with LG Chemicals of South Korea.

“We have got written proposal from several companies to join the project. ONGC and GAIL have also shown interest in taking equity stake in the Kochi venture,” BPCL Chairman and Managing Director R. K. Singh told journalists on the sidelines of the Petrotech Conference here on Tuesday. The petrochemical complex is being built with LG Chemicals as the lead partner.

New Delhi Petrol price may be cut by about Rs 1.60 per litre later this month as appreciation of rupee against the US dollar has helped state firms make profit on the fuel.

Indian rupee appreciated to five-month high since the government announced allowing foreign direct investment (FDI) in multi-brand retailing. This has eased the cost of imports for oil firms, helping them make profit on sale of petrol. "Yes, there is about Rs 1.60 per litre profit on petrol since October 1. But we want this trend to stabilise before we think of cutting retail prices," a senior executive at one of the three state-owned fuel retailers said.