OVL to buy 35percentage additional stake in Vankor
ONGC Videsh Ltd. (OVL), along with Indian Oil Corporation (IOC), Oil India (OIL) and Bharat Petroleum Corporation Ltd. (BPCL), plans to buy an additional 35 per cent stake in Russia´s Vankor oil field in Siberia for nearly $3 billion.
India eyes $40-bn pipeline
The Narendra Modi-led government plans to import huge volumes of natural gas from Russia. The Centre is working out the contours of a $40-billion (Rs 2.4 lakh-crore) mega onland pipeline project carrying gas from Russia to India, in one of India´s biggest energy projects.
Global Demand on the Rise
Global demand for oil and gas Russia's key exports and the lynchpin of its foundering economy is growing, and Russia is well placed to capitalise on it, according to a BP review on world energy. Presenting the report at the 21st World Petroleum Congress held in Moscow, Bob Dudley, CEO of British oil company BP, said Russia.
If current indications and Modi´s previous track record are anything to go by, the new NDA government is poised to shape a renaissance for the country´s power sector. In fact, one of the first initiatives of the Gujarat government when Modi took over as Chief Minister was reform of the State´s power sector. The electricity board went through financial restructuring and employee reorientation, but Modi´s masterstroke was separating the power feeder input into two lines: one for agricultural needs
India to drive coking coal demand
Miner BHP Billiton expects India to lead future demand growth for coking coal, as Chinese imports steady while global competition from suppliers in Australia, Russia and North America intensifies. The world's biggest seaborne coking coal miner expects overall demand for coal to grow, said Dean Dalla Valle, president of BHP Billiton Coal, in remarks prepared for a Committee for Economic Development of Australia event.China's newly cemented position as a major net importer of coking coal may be as
India, Russia sign agreement on Kudankulam 3, 4 units
After years of deadlock on the liability issue, India and Russia have signed an agreement for building units 3 and 4 of the Kudankulam Nuclear Power Plant project at a cost of Rs 33,000 crore. The Nuclear Power Corporation of India Ltd signed a general framework agreement (GFA) with its Russian counterpart on April 10. However, some permissions are required from the Atomic Energy Regulatory Board before work on the project can start.