Pradhan's presence at the road shows indicates the seriousness of the NDA government to interact at the highest level with investors community for its Discovered Small oil and gas Fields. Both London and Singapore are the key financial centres for global oil and gas community, to publicize and attract investments.
In a bid to showcase 67 of India’s discovered oil and gas fields before the global investors community at Singapore and London, Union Minister of State (I/C) for Petroleum and Natural Gas, Dharmendra Pradhan will be part of the roadshows to be held in these two countries from 9-14 September, 2016. Under this bid round, 67 Discovered Small Fields (DSF) are being offered for international bidding. These fields are spread over 9 sedimentary basins and will be offered in 46 contract areas. These fields are projected to yield 625 million barrels of oil and oil equivalent gas and spread over 1,500 sq kms in onland, shallow water and deep water
Speedy clearances a must for increasing India's mineral production by 30-35% a year.
Cutting short the approval processes for speedy clearance of mining plans so as to increase mineral production by the targeted 30-35% every year, the ministry of mines in close co-ordination with its arm Indian Bureau of Mines (IBM) is ensuring that every plan gets cleared within 45 days. “Following a series of brainstorming sessions with Union Minister, Piyush Goyal, (who apart from his portfolios of power, renewable energy and coal has also been recently entrusted upon an additional charge of the mines ministry), the mines ministry is ensuring that the disposal of mining plan and review of the same should be done within a period of 45 days,” secretary mines, Balvinder Kumar told EnergyInfraPost.com.
Power ministry is seen leading the digital initiatives of the NDA government through a variety of mobile applications and e-platforms
The latest digital offerings from the power ministry includes the TARANG’ mobile application along with two e-platforms: ‘e-Trans’ & ‘DEEP’ e-bidding web portals. While the Vidyut Pravah mobile application is an excellent attempt to track availability and cost of power across India, TARANG is the latest mobile application that has caught the industry’s eye.
“TARANG” tracks the real time progress of transmission projects and associated works being carried out in transmission systems across the country.
Canada and India bilateral relationship was elevated to “Strategic Partnership’ during the visit of the Prime Minister Modi to Canada in 2015. Canada is also a prominent G-20 member.
Enhancing existing bilateral energy ties were discussed at a meeting between India’s Minister of State (I/C) for Petroleum and Natural Gas Dharmendra Pradhan with James Gordon Carr, Minister of Natural Resources of Canada in New Delhi on Sep 8. Pradhan co-chaired the 3rd India-Canada Energy Dialogue on Thursday. During the Energy Dialogue, both sides discussed aspects of bilateral energy sector engagements. These included, inter-alia, Indian investments in Canadian upstream sector, sourcing of crude and technologies from Canada, and the recently launched Discovered Small Fields Bidding Round.
The main objective of this system is to bring all mines to minimum 4- or 5-star rating in the shortest possible time. Everything is transparent and can be accessed in public domain. All mines in India should necessarily have a four-star rating and the government as a facilitator would help them reach the desired level.
The star rating system, that rates mines out of five stars, is a two-layered system based on a self-evaluation by the mine operator. The rating is based on various indicators including social, economic and environmental parameters and under the template developed by IBM, all these parameters carry certain weightage. Based on self evaluation, points are awarded to the party. Those getting above 90 marks on a scale of 100 will get 5-stars and those getting between 80-90 points get a 4-star rating. This system is aimed at creating a healthy competitive environment amongst mining companies as this system recognises good performers while encouraging others to compete and strive further for excellence
Highlighting the importance of international collaborations in research and development, technology transfers, the Minister said that the Government is in the process of talks with leading nations in the field of clean energy and take the cooperation forward.
India’s plans to add 40% of its total installed capacity as renewable energy will go a long way in meeting the country’s growing energy needs over the next decade. Speaking at a media event on Wednesday, Union Minister of State (IC) for Power, Coal , New & Renewable Energy & Mines, Piyush Goyal while touching upon the increasing share of renewable energy in India’s energy mix said the Government’s target to achieve 40% of installed capacity through renewables will reduce the carbon intensity of the GDP by 30-35% by 2030.
The company’s PAT rose to Rs. 1,335 crore from Rs. 388 crore in the corresponding quarter of the last fiscal. GAIL’s PAT excluding gain from stake sale in Mahanagar Gas Limited is Rs 846 crore, signifying an increase by 118%.
During the quarter, GAIL’s Petrochemical business has seen a turnaround with production and sales jumping 149% and 121% respectively as compared to corresponding period of the previous year. This resulted in revenue increase in this segment by 95% to Rs. 1,133 crore and the profit stood at Rs. 9 crore in this quarter as against loss of Rs. 397 crore in the corresponding period of the previous year.
The scheme is presently operational in 18 states and 4 Union Territories and will be rolled out soon in West Bengal and North Eastern states in the coming days. In the remaining states and Union Territories, the decision to roll out the scheme is pending with the respective state governments.