KG BASIN LINE
Fishing net incident affects ONGC's KG field commissioning operations
ONGC resumed its first deepsea project in India's KG basin after a month of delay caused by Armada Sterling V's fuel-extracting mechanism getting entangled with fishing nets. ONGC sought help from the Indian Navy, whose divers successfully cleared the nets from the vessel. As a result, the operations, which had stopped since the incident happened, were restored, leading to "considerable savings to the exchequer." The first oil from the KG-D5 block is expected to be produced in May 2023.
BP pitches for infra sharing with companies like ONGC; sanctity of contract
Speaking at the India Energy Forum of CERAWeek, BP's India head Sashi Mukundan said policy and decision making must support raising domestic oil and gas production by adopting best international practices. He also made a case for offering incentives for doing better than targeted production rather than imposing penalties.
Petchem, retail & digital push Reliance Industries Q4 profit up 9.8%
Outweigh impact of sharp contraction in refining margins and higher finance cost.
Reliance, BP spend Rs 7,000 cr to prolong output from D1, D3 fields in KG-D6 block
RIL is the operator of KG-D6 block with 60 per cent interest, while BP plc of UK holds 30 per cent stake. Niko Resources of Canada has the remaining 10 per cent.
GAIL hires drones to secure gas pipelines
The drones will be used to patrol the pipeline to detect physical abnormal activity like encroachment or intrusion on the pipeline.
RIL award R-Series gas field contract to McDermott
R-Series is one of the three sets of discoveries in the eastern offshore KG-D6 block that RIL and its partner BP plc of UK are working to bring to production by 2021-22.
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ONGC may report over twofold YoY jump in Q3 net profit, GRM seen at $50/bbl
According to ETNow poll, ONGC may post net profit and net sales of Rs 4,836 cr and Rs 19,394 cr, respectively compared with Rs 1,286 cr and Rs 18,448 cr.
Reliance Industries to challenge $1.55 billion gas dispute demand
"The liability of the contractor has not been established by any process known to law and the quantification of the purported claim is without any basis and arbitrary."
New DGH Atanu Chakraborty promises level playing field for E&P players
The DGH which had been at the centre of controversies, is looking to start with a clean slate by supporting exploration and production (E&P) activities.
After rap, GAIL to install corrosion monitors in pipelines
A GAIL pipeline near Nagaram village in Tatipaka district of Andhra Pradesh had on June 27, 2014 exploded and caught fire after a gas leak caused by corrosion.
ONGC to spend Rs 16,200 crore to drill 45 wells in KG-Basin
The oil and gas major has approached the Ministry of Environment and Forests seeking clearance for preparing terms of references.
Andhra Pradesh gas tragedy: GAIL appoints Engineers India Limited to check pipeline network
In the wake of Nagaram gas pipeline fire-explosion, GAIL has appointed EIL to check the health of its pipeline network of 870 kms from KG Basin.
ONGC, Oil India to be biggest beneficiaries of prospective gas price hike: Prayesh Jain, IIFL India
"We don’t expect any major changes on the refining side, but on the E&P side, there could be a material change, where there are a lot of hurdles."
Mukesh Ambani does not run Government: P Chidambaram
Chidambaram, who was part of the decision to allow all domestic natural gas producers including RIL called the FIR 'laughable'.
For Reliance Industries, the rupee propped up profits
The fall in refining margins could have had a deeper impact on its bottom line had the rupee not depreciated sharply from Rs 58 to Rs 62 per dollar.
Govt may appoint an independent consultant to resolve dispute between RIL and DGH
"We had issued a notice for the penalty of about $1 billion last year. There is a proposal to raise it," Oil Secretary Vivek Rae said.
Reliance Industries, BP discover big gas reserve in Cauvery basin
RIL and British oil company BP PLC on Friday announced a new gas condensate discovery off the east coast of India in the Cauvery basin.
Expect KG-D6 basin to re-energise RIL stock and company: Jagannadham Thunuguntla, SMC Capitals
It will not be surprising if Reliance shares cool off towards the 780 mark from where the rally had commenced.
ONGC announces three significant oil and gas discoveries in KG basin
Discoveries are made in deepwater blocks KG-DWN-2005/1 and KG-DWN-98/2 and the Kutch offshore block, GK-28, company said in a statement.
CAG can’t audit KG performance: Reliance Industries
Mukesh Ambani's Reliance Industries (RIL) has put its foot down on the government's move to get the performance of its showcase Andhra offshore gas field scrutinized by the federal auditor.
Reliance Industries cuts KG-D6 gas field reserves by 70 pc to 3.10 Tcf: R P N Singh
R P N Singh told the Lok Sabha that RIL had estimated 10.3 Tcf of recoverable reserves in the Dhirubhai-1 and 3 (D1&D3) gas field in the KG-D6 block.
Nomura cuts Reliance Industries rating to neutral from buy; cuts EPS estimates
Nomura says the move is due to a drop in refining margins and concerns over a decline in production from D6 of the company's KG basin.
Mukesh Ambani assures to take up KG-D6 gas concern, says RIL to become debt-free and go aggressive in retail
Mukesh Ambani asserted RIL would become a debt-free company this year, giving it financial muscle to pursue new growth opportunities.
RIL must invest in R&D
Reliance cannot continue to grow without proprietary technology.
ONGC expects rise of 2 mscm in daily gas prodn from KG-basin
Oil and Natural gas Corp expects to initially raise its daily gas output by two million standard cubic meters (mscm) and produce 9,400 barrels of associated oil.
Cairn India discovers oil & gas reserve in KG basin
Cairn Energy India, a wholly- owned subsidiary of Cairn India, has notified the DGH of an oil and gas discovery in Nagayalanka-LZ in Andhra Pradesh.With this find, co gets involved in at least 40 gas reserves across the country.
Cairn India to undertake wildcat drilling in KG Basin
After the success of Barmer oil fields in Rajasthan, Cairn India - the second largest oil and natural gas explorer in the country - bets heavily on wildcat drilling.
Gas supply, capex to fire up RCF
Gas from KG D6 Basin will cut production costs and increase operating margins.
New power projects may get gas from RIL's KG basin
The empowered group of ministers on gas allocation will soon draw up a list of the next set of beneficiaries in the power sector to receive gas from Reliance Industries' (RIL) KG basin.
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