Indian oil market outlook to 2030
The Report looks in-depth at how India’s role on the global oil market may evolve over the period through to 2030. It examines investment plans for the refining and petrochemical industry and how these
Oil
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RIL-BP to surrender nine out of 21 blocks
To focus on increasing gas and oil production U.K.’s BP plc and Reliance Industries Limited (RIL) are going to focus on increasing oil and gas production from their assets in future despite having surrendered nine out of the 21 blocks due to poor prospects. BP, which had bought 30 per cent stake in RIL for $7.2 billion, is a partner in 21 blocks despite having bought stake in 23 blocks as the Cabinet had only approved its partnership in 21 blocks in the KG-D6 basin.
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RIL cuts investment in KG-D6 oil fields by $3 bn
Reliance Industries Limited (RIL) has cut capital investment on the main oil and gas fields in the KG-D6 block by $3 billion on the back of an unexpected drop in reserves in an area that was once India’s
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RIL-BP gives up 9 oil, gas blocks
New Delhi UK's BP plc has relinquished or surrendered 9 out of the 21 oil and gas blocks where it had bought 30 per cent stake from Reliance Industries for USD 7.2 billion, due to poor hydrocarbon prospects. BP had last year bought 30 per cent stake in a total of 23 oil and gas blocks of RIL including the gas discovery areas of KG-D6 and NEC-25. The Cabinet had however approved of BP taking stake in 21.
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HPCL’s new terminal to be breather for Tondiarpet
As part of its modernisation drive, Hindustan Petroleum Corporation Ltd (HPCL) has constructed a Rs.330-crore greenfield oil terminal at Ennore. This will not only enable it to move petroleum products from Ennore Port to its terminal seamlessly through dedicated pipelines, but also decongest the Tondiarpet area in north Chennai. The new oil terminal is expected to start functioning soon. Talking to The Hindu, Y.V.N. Sarma, DGM - Ennore Project, HPCL Chennai New Terminal, said the current HPCL terminal was located on 15 acres of land having a tankage of 50,000 KL at Tondiarpet. HPCL had decided to discontinue its operations there and move POL products (petroleum, oil and lubricants) to Ennore in a phased manner.
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Norway to double carbon tax on oil industry
Extra funding for climate change mitigation and forestry programmes also part of oil-rich nation's radical programme Norway is to double carbon tax on its North Sea oil industry and set up a £1bn fund
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Govt to charge Coal India for block allocation
The details of how the reserve price would be calculated and the quantum of the outgo for the world's largest coal miner are yet to be worked out There may be no going back on bidding for coal blocks by the government, but a new policy would put a price on mining rights for even government-controlled Coal India Ltd (CIL). The coal ministry has decided to charge CIL a “reserve price” for the 116 coal blocks allotted to the state-owned miner. “We are going to ask CIL to pay a reserve price for all the 116 blocks allocated to the company last month. No reserves would be allocated for free now,” a senior coal ministry official told Business Standard.
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Iraq energy outlook 2012: world energy outlook special report
The report: Examines the role of the energy sector in the Iraqi economy today and in the future; Assesses oil and gas revenues and investment needs; Provides a detailed analysis of oil, gas and electricity
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Energy [r]evolution: a sustainable EU 27 energy outlook
The 2012 EU Energy [R]evolution report, carried out for Greenpeace and the European Renewable Energy Council by the German National Centre for Aerospace, Energy and Transport Research, demonstrates how
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Fuel for thought: hydrocarbon and beyond - changing landscape
Hydrocarbon sector is the key to ensuring energy security in the country. It is the second source servicing India’s energy needs. Ensuring energy security for a large nation like India is a huge challenge.
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CO2 emissions from fuel combustion 2012: highlights
In the lead-up to the UN climate negotiations in Doha, the latest information on the level and growth of CO2 emissions, their source and geographic distribution will be essential to lay the foundation