The “Indian Petroleum & Natural Gas Statistics” presents updated comprehensive statistics on various aspects of Indian Petroleum & Natural Gas sector. The data on international developments in respect
The C Rangarajan panel, which is likely to give its report on the licensing of oil and gas fields in a week, is expected to favour production-linked payment for profit-sharing between the government and oil explorers, replacing the existing system of linking it to investments. Currently, producers can decide whether and how to recover their investments before starting to share profits with the state. “The new contractual provision is being proposed to overcome the difficulties in managing the existing model based on the pre- tax investment multiple methodology and cost recovery mechanism,” the report has said.
The Prime Minister-appointed Rangarajan Committee may this week suggest sweeping changes in future oil and gas contracts by asking explorers to bid for a percentage of output they would share with the government. Sources said the panel may ask the government to move to a production-linked payment regime where explorers will be required to bid for the government share of production after royalty.
The environment ministry has simplified the procedures for granting clearances to special economic zones as it seeks to shed the anti-industry image. A recent order issued by the environment ministry
Block may contain over 100 million barrels of condensate or light oil and 3 trillion cubic feet of gas The government has given Reliance Industries the go-ahead to appraise its discovery in the Cauvery
An expert committee has suggested that offshore farms to harness wind energy may be set up at Rameshwaram, Kanyakumari, Maharashtra, Kerala-Konkan and Gujarat, Rajya Sabha was informed today. Minister
With the government keen to close out the sale of the residual stakes in Bharat Aluminium Company (Balco) and Hindustan Zinc (HZL) by the end of the fiscal, the London-listed Vedanta Resources is readying
The Government of India constituted this committee to look into the Production Sharing Contracts (PSCs) mechanism in petroleum industry. The exploration and production policy for hydrocarbons is a cornerstone
The Directorate-General of Hydrocarbons (DGH) has refused to endorse the revised field development plan of Reliance Industries Ltd. (RIL) for Dhirubhai-3 (D1&D3) field in KG-D6 block, calling the drastic
Sri Lanka has spent US$ 138 million so far on oil exploration with the belief of natural gas resources were available, Petroleum Resources Minister, Susil Premajayantha told Parliament today. He made this
Sri Lanka has spent US$ 138 million so far on oil exploration with the belief of natural gas resources were available, Petroleum Resources Minister, Susil Premajayantha told Parliament today. He made
