Friday, August 6, 2010

Petro Daily Newsletter

 
Headline ScanFriday -- August 06, 2010
OMCs uncertain, but producers certain about future
Royalty regime to be adopted for shale gas operators
BPCL to spend Rs 7,500 crore
Ministry okays Rs 1,54,512-crore investment proposal in 3 PCPIRs
CAG slams ONGC for tardy exploration
Petro products to be outside GST: States
New investment policy for fertiliser sector soon: Jena
Global tender soon for fibreglass cooking gas cylinders
Team ONGC proves viability of 2.7tcf Mahanadi block
Oil company used unproven equipment in Arctic waters
UAE aims to increase oil output capacity by 2018
China oil spill is 'more serious than reported'
Tehran lobbies Beijing for energy ties
Sri Lanka to further open up lubricant market
Abu Dhabi aims to become 'leading exporter' of gas
Saudi woos Asia with low crude prices Friday,
Vietnam says China violates its sovereignty in sea
See Full Stories at: http://www.bharatpetroleum.inor, scroll down to read story highlights.
 
OMCs uncertain, but producers certain about future

The future looks bleak for oil marketing companies (OMCs), despite decontrol of petrol prices and increase in prices of other petroleum products. B...

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Royalty regime to be adopted for shale gas operators

New Delhi: In a break from convention, the government is planning to adopt the royalty system for raising revenue from hydrocarbon reserves, just a...

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BPCL to spend Rs 7,500 crore

Bharat PetroResources (BPRL), a fully owned subsidiary of BPCL will use these funds. BPRL was incorporated in 2006 for exploration and production (...

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Ministry okays Rs 1,54,512-crore investment proposal in 3 PCPIRs

In a major boost for investment in the petrochemical sector, the Ministry of Chemicals and Fertilisers has approved a proposal of investments worth...

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CAG slams ONGC for tardy exploration

Premier auditor the Comptroller and Auditor General (CAG) has slammed Oil and Natural Gas Corporation (ONGC) for systemic deficiencies in oil and g...

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Petro products to be outside GST: States

In yet another blow to the Centre's plans on the proposed GST, the states on Thursday stated that petroleum products would be out of the proposed i...

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New investment policy for fertiliser sector soon: Jena

NEW DELHI: Government will soon unveil an investment policy for the urea sector which would also help revive eight public sector urea factories now...

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Global tender soon for fibreglass cooking gas cylinders

New Delhi, Oil marketing companies have been asked to call for global tender to set up domestic manufacturing facility for fibreglass cooking ...

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Team ONGC proves viability of 2.7tcf Mahanadi block

NEW DELHI: Oil & Natural Gas Corp (ONGC)-led consortium of state-owned energy firms has proved commercial viability of its Mahanadi gas find, p...

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Oil company used unproven equipment in Arctic waters

OTTAWA — The last company to drill for petroleum off Canada's Arctic coast was given the green light by federal regulators to use blowout-preventio...

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UAE aims to increase oil output capacity by 2018

DUBAI (Reuters) - The United Arab Emirates aims to increase its oil production capacity to 3.5 million barrels per day (bpd) by 2018 from 2.7 milli...

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China oil spill is 'more serious than reported'

BEIJING-An environmental group has called on Chinese authorities to redouble efforts to clean up a group of islands polluted by what has been descr...

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Tehran lobbies Beijing for energy ties

Joint cooperation in the Iranian and Chinese energy sectors was on the agenda for talks Thursday in Beijing, the Iranian oil minister announced. Ir...

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Sri Lanka to further open up lubricant market

The Sri Lankan government has decided to further open up the lubricant market by allowing more suppliers with the aim of increasing competition and...

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Abu Dhabi aims to become 'leading exporter' of gas

Abu Dhabi has more than 200 trillion cubic feet of natural gas reserves. Above, the Habshan gas complex in the capital. Reuters Abu Dhabi has long-...

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Saudi woos Asia with low crude prices Friday,

SINGAPORE:  Top oil exporter Saudi Arabia will keep enticing Asian term buyers to the kingdom's crude by maintaining official selling prices (...

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Vietnam says China violates its sovereignty in sea

Vietnam accused China on Thursday of violating its sovereignty by conducting seismic exploration near disputed islands in the South China Sea and u...

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