09.01.06
Posted in Review, India, Government, Oil news, Oil Prices at 8:21 am by Mridul
Government may revise the fuel prices quarterly
Indian government is planning to make a model in which the fuel prices in India at for the retail consumers will be revised in every 3 months. After seeing the steep rise and falls in the oil prices in the recent past, the government is planning to take such a decision.
Our Review: This would mean that the government would first study the oil prices in the previous quarter and then after studying the pattern, the fuel prices will be decided for the next quarter. One fine day we may see that everyday we’ll have to open the newspaper and see the oil prices for the day like it happens in Gold and Share markets.
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08.31.06
Posted in Review, India, Oil news, Real Estate at 11:40 pm by Mridul
Reliance found more Gas in the Krishna Godavari Basin
This is good, Reliance has found more gas reserves in the Krishna Godavari Basin. Now the company will start the pumping process by June 2008. The company earlier had gas in this region in the shallow sedimentary basin, but now what they have found is the gas belonging to the older deeper sedimentary basins which will ensure higher yield and better and sustained gas flow. RIL will now have 80 mmscmd of gas at its disposal; will call for competitive bids to develop the market.
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08.20.06
Posted in News, India, Government, Oil news at 6:17 am by Mridul
ONGC planning two refineries
NEW DELHI: ONGC, the country’s largest oil producer, is planning to build two refineries, minister of stole for petroleum and natural gas Dinsha Patel said on Thursday. ONGC has been trying to boost its refining capacity to ensure better margins and make up for a fall in domestic crude output. Patel said ONGC is examining the feasibility of setting up a refinery in Kakinada. It’s also exploring the techno-economic feasibility of setting up a well head refinery for processing crude oil discovered by Cairn Energy and ONGC in Rajasthan.
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