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The Union Cabinet has approved the Hydrocarbon Exploration and Licensing Policy (HELP). Four main facets of this policy are: uniform license for exploration and production of all forms of hydrocarbon, an open acreage policy Easy to administer revenue sharing model and Marketing and pricing freedom for the crude oil and natural gas produced. The decision will enhance domestic ..
The Hindustan Petroleum Corporation Ltd (HPCL), the public sector undertaking , has become the first Oil Marketing Company (OMC) from India that has started marketing lubricants in Myanmar and has chosen commercial hubs of Yangon and Mandalay.
Government appoints Rajiv Nayan Choubey, a senior bureaucrat,1981batch IAS officer of Tamil Nadu cadre, as Director General, Directorate General of Hydrocarbons (DGH). He will be the first bureaucrat to head the highly technical arm of the Oil Ministry, which has been blemished in controversies for the past few years. Earlier, Mr.Choubey has served as Development ..
The Petroleum Ministry disallowed the RIL’s (Reliance Industries Ltd) $1.24 billion cost recovery from its investment in the KG-D6 field, in the Krishna-Godavari (KG) basin. RIL has already taken the government to the Supreme Court over its inability to nominate an arbitrator over the issue of cost-recovery. Why Govt’s Notice to RIL? A Notice was ..
NTPC, India’s largest power producer, is reportedly planning a massive 10,000 mw hydel project in Upper Siang district, Arunachal Pradesh. This proposed project is an ultra-mega hydel project would cost Rs. 1,00,000 crore, and project implementation would stretch to a decade. The experts say that the mega project is to be cautiously welcomed, given the ..
What are these roadshows? Minister of State for Petroleum Jitin Prasad was recently in North America for shows in tour for promotion & atttraction of investment in India;s petroleum assets. Rounds of auction are held. Here is a summary of recent road shows held at various places. Mr. Prasad held road shows in Calgary in ..