Oil and Gas Sector Current Affairs - 2019

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Five oil PSUs sign JV pact for N-E Natural Gas Pipeline Grid

Five central oil PSUs – IOCL, ONGC, GAIL, OIL, and NRL have signed agreement for executing 1500 Km North-East Natural Gas Pipeline Grid. It is a major initiative to connect all North-East States to National Gas Grid. It will be implemented under Centre’s ambitious Urja Ganga Gas Pipeline Project. Terms of Agreement Joint Venture (JV) Read More…

Month:  Categories: Science & Technology

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India hosts 16th International Energy Forum (IEF) Ministerial Meeting

India, world’s third-largest energy consumer after US and China hosted 16th International Energy Forum (IEF) Ministerial Meeting from 10-12th April 2018 in New Delhi. It was formally inaugurated by Prime Minister Narendra Modi. This is second time India hosting IEF Ministerial meeting. It had earlier hosted 5th IEF Ministerial in 1996 at Goa. IEF Ministerial Meeting Read More…

Month:  Categories: Events & Observances

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ONGC to introduce Asia’s first large scale CO2 injection technique at Gandhar field

State owned Oil and Natural Gas Corporation (ONGC) is planning to introduce carbon dioxide (CO2) injection technology in its Gandhar oil field in Gujarat. It will be first large scale CO2-injected project in Asia. Its purpose is to recover extra 20 million barrels of crude oil under enhanced oil recovery (EOR) programme. EOR programme aims Read More…

Month:  Categories: Science & Technology

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Cabinet approves Discovered Small field Round II

The Union Cabinet has approved second round of Discovered Small Field (DSF) auctions under Discovered Small Field Policy. The auction will offer total of 60 discovered small fields/un-monetized discoveries with an estimated 194.65 Million Metric tonnes of oil. Key Facts Of the 60 fields, 22 fields belong to Oil and Natural Gas Corporation (ONGC), 5 Read More…

Month:  Categories: Governance & Politics

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Government to set up think tank for oil sector

The Union Government will soon get Cabinet approval for setting up of high-powered think tank under Ministry of Petroleum to look into key issues related to oil and gas sector. Besides, Petroleum Ministry also has send proposal to Union Cabinet for setting up domestic gas trading hub to adopt better mechanism for price discovery of Read More…

Month:  Categories: Governance & Politics

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Cabinet approves Bilateral Investment Treaty between India and Belarus

The Union Cabinet has approved signing and ratification of Bilateral Investment Treaty (BIT) between India and Belarus on Investments. The Cabinet also approved Memorandum of Understanding (MoU) signed between India and Belarus in oil and gas sector. Bilateral Investment Treaty (BIT) The BIT will increase investment flows between two countries. It is also expected to Read More…

Month:  Categories: Governance & Politics

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ONGC discovers oil in Arabian sea near Mumbai High

State-owned Oil and Natural Gas Corporation (ONGC) has made oil discovery in WO-24-3 well located west of Mumbai High fields in Arabian Sea. The well is estimated to hold in-place reserve of about 20 million tonnes. The new discovery comes almost 50 years after ONGC began production in Mumbai High, which is India’s biggest oil Read More…

Month:  Categories: Governance & Politics

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