The Haldia Dock Complex under Kolkata Port Trust has recently earmarked about 10 acres of land in the vicinity of Haldia Oil Jetty No. 1 for a period of 30 years for setting up of LNG storage facilities, with permission to lay pipelines and install unloading arms through tender cum auction.
Since the launch of the Discovered Small Field Bid Round 2016 on 25th May 2016 in New Delhi, multiple interactive meets across India and various international locations – Houston, Calgary and Dubai have been conducted. The latest in the series was done in Singapore.
A delegation led by Minister of state (I/C) for petroleum and natural gas Dharmendra Pradhan and other dignitaries from India organized led this delegation and participated in the interactive meet in Singapore on Sep 9th. The Ministry of Petroleum and Natural Gas officials highlighted Government of India’s initiative of offering 46 Contract Areas consisting of 67 small fields across 9 sedimentary basins for exploration and production of oil and gas in India, in line with Honorable Prime Minister’s vision of reducing import dependency in oil and gas by 10% by 2022.
Dharmendra Pradhan leads Roadshows to Singapore and London to meet global investors community for 67 discovered oil and gas fields
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
3rd India-Canada Energy Dialogue; Pradhan meets Canadian Natural Resources Minister, James Gordon Carr
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 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.
In an innovative move, the union minister of state for petroleum and natural gas, Dharmendra Pradhan proposed to public sector undertakings (PSUs) to create startup funds on the lines of private sector in order to promote innovation and nurture new ideas in the energy sector.
A methanol-based economy can create a lot of employment and entrepreneurship:Dharmendra Pradhan
Union minister Dharmendra Pradhan launches #Gas4India campaign to promote Natural gas in the country.
#Gas4India is a Social Media Campaign aimed to spread the economic&environmental dynamics of Gas Based Economy
Under Phase II storage program, plans currently are afoot to create Strategic Petroleum Reserves at two locations, namely Chandikhol in Odisha and Bikaner in Rajasthan which entails storage of crude oil in underground rock caverns and underground salt caverns respectively.
After creating strategic petroleum storage facilities at Vizag, Mangalore and Padur, the Ministry of Petroleum & Natural Gas, is now looking at two additional sites in Odisha and Rajasthan — a move that is aimed at ensuring India’s energy security goal. Strategic petroleum storage provides a country with two fold advantage. Firstly it ensures utilisation of petroleum reserves in times of high oil and gas prices and secondly are also created to prevent any supply disruptions during unforseen events of natural disasters or a war like situation.
Out of 24,150 mw stranded gas based power capacity in India, 17,420 mw has been made operational following government support to provide gas (as R-LNG) and with financial support coming from the Power System Development Fund.
As many as nine stranded gas based power generation plants with an installed capacity of 5,070 MW have emerged as successful bidders after participating in the fourth phase of reverse e-bidding process. An official statement from the power ministry said this process will involve government support of Rs 187.14 crore from the Power System Development Fund. “Government of India is committed to the revival of such stranded power plants as a measure to ensure 24X7 power to all,” it added.
From making endless visits to rural belts of the country distributing LPG connections to the women in the category under the PMUY, to handling sectoral issues/reviews and engaging in diplomatic discussions concerning the oil and gas sector, Pradhan has also been bestowed with an important role by his party for the forthcoming assembly elections in Uttarakhand