FDP
Which German coalition plans will still be implemented?
Following the collapse of Germany's coalition government, some laws may still pass before the February election. The former coalition partners agreed on income tax relief, increased child benefits, and funding for discounted public transport. However, plans for hydrogen power stations, the 2025 budget, rent freezes, and pension reform face significant hurdles.
ONGC makes four oil discoveries in Ashokenagar, awaits mining lease from Bengal govt
ONGC discovered oil near Asokenagar, West Bengal, six years ago and has made four additional discoveries since. However, development is stalled pending a petroleum mining lease from the West Bengal government, despite central government recommendations and repeated follow-ups.
ONGC opens well in KG field to raise oil production
ONGC has started production from its fifth oil well in the Krishna Godavari basin, enhancing crude oil and natural gas output. This expansion follows the initial production from four wells in January 2024. The company aims for a peak output of 45,000 barrels of oil daily and 10 million cubic meters of gas by March 2025.
ONGC, IOC partner to set up LNG plant in Madhya Pradesh
ONGC and IOC signed an agreement to set up a small-scale LNG plant near the Hatta gas field in Madhya Pradesh.
Germany could spend up to €9 bn more on defence from 2028, minister says
German Finance Minister Christian Lindner expects up to 9 billion euros ($9.7 billion) in additional defence spending from 2028 if Germany can reduce its debt levels. The additional funds could be freed up if Germany gets its debt below an EU-set target of 60% of gross domestic product from 63%. If Germany falls below this limit, the repayment of coronavirus debt planned from 2028 could be discussed again.
Germany's new immigration law aimed at attracting skilled workers to become effective in November
Germany's new immigration law, set to take effect in November, aims to attract skilled workers from non-EU countries with non-academic training. The law includes a points-based system that considers professional qualifications, age, and language skills. The legislation, championed by multiple political parties, received 388 yes votes in parliament.
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Germany is first major economy to phase out coal and nuclear
The plan is part of Germany's 'energy transition' - an effort to wean Europe's biggest economy off planet-warming fossil fuels and generate all of the country's considerable energy needs from renewable sources. Achieving that goal is made harder than in comparable countries such as France and Britain because of Germany's existing commitment to also phase out nuclear power by the end of 2022.
Government permits faster monetisation of oil and gas discoveries
¡°There are no restrictions on monetization of discovery at an early stage within these timelines (provided under the contracts); rather it would be in public interest that a discovery is monetized early as a step towards energy security of the country,¡± the Directorate General of Hydrocarbons (DGH) said in guidelines on early monetization of hydrocarbon discoveries.
Govt overhauls oil, gas exploration policy; no profit to be charged on output in less explored areas
The overhaul looks to attract the elusive private and foreign investment to raise domestic output.
Gail chosen for Vedanta¡¯s Barmer gas output buy
The block, which would produce up to 4 million metric standard cubic meters a day, must sell the output to an entity chosen by the government.
Government asks ONGC, OIL to sell out 66 fields to private firms
Govt brought in a new system of bidding such as drilling of wells and shooting of seismic with the winner's only liability being payment of statutory duties like royalty and cess.
Gas pricing, marketing freedom to help companies draw investments
The Cabinet on Tuesday granted marketing and pricing freedom to all new gas discoveries whose field development plan (FDP) had yet to be approved.
Government reverts back to old system of awarding oil and gas blocks
The new system of awarding blocks in not so prolific areas will replace a two-year-old method of awarding.
KG block production may be delayed due to regulatory changes: ONGC
Oil and Natural Gas Corp (ONGC) is investing USD 5.07 billion in KG-DWN-98/2, which sits next to Reliance Industries' flagging KG-D6 block in Bay of Bengal.
HOEC to produce oil from Mumbai field by 2021, invest $43 mn
HOEC is the first company out of the 31 that signed contracts for the fields won in the auction in March, to have submitted a field development plan (FDP).
RIL, BP to use floating system to produce deepest D6 gas find
In May 2013, RIL, BP and Niko Resources of Canada had struck a 155-metres thick gas condensate column in the exploration well KGD6-MJ1.
ONGC completes Rs 7,700 crore acquisition of GSPC
GSPC, a Gujarat government firm, will remain in the Block holding 10 per cent stake which it acquired from the outgoing partner Geo Global Resources.
ONGC wins government nod for Rs 7,738 crore GSPC stake buy
The company will also pay part consideration of Rs 1,295 crore to GSPC towards acquisition rights for discoveries other than DDW field in the block.
RIL, BP spend Rs 4,500 crore to maintain gas output at KG-D6
RIL-BP are currently producing from Dhirubhai-1 and 3 gas field and MA oil and gas field in the Bay of Bengal Block KG-DWN-98/3 or KG-D6.
ONGC mulling buying majority stake in GSPC's Krishna Godavri basin gas block
GSPC is in a loss and to come out of the situation it plans to sell its 50 per cent stake to ONGC including its under water sea infrastructure to cover the losses.
Government clears 30 oil & gas discoveries for production: Dharmendra Pradhan
"I am happy to share that after this approval, within a short span of less than 3 months, 30 long-pending issues have been resolved", he said.
India attracts $259 mn FDI in single brand-retail since April 2010
Government permits 100 per cent foreign direct investment (FDI) in single brand retail and 51 per cent in multi-brand retail trading.
RIL-BP wins approval for $3.18 billion plan for R-Series gas field in KG-D6 block
RIL-BP plan to quickly bring satellite fields in the KG-D6 block to production to help reverse the decline in output.
RIL's $3.18 billion gas field development plan with BP cleared, first output by 2017
The operator is asked to expedite development of R-series discoveries to reverse falling output from the block, govt officials said.
Cairn India to pump $3 bn over next 3 years in Rajasthan oilfields
Cairn India plans to invest $3 billion over the next three years in finding more oil and raising output from its showpiece Rajasthan oilfields.
RIL-BP wins approval for drilling well in KG-D6 block
Together with less than 5 mmsmcd of output from MA field, gas production from KG-D6 is around 16.5 mmsmcd.
RIL, BP win approval to develop 3rd largest gas find in KG-D6
RIL and BP have got government approval to prepare a plan to develop the third largest gas discovery in KG-D6 block that produce a little less than 15 million cubic meters of gas per day.
RIL's new satellite gas discoveries expected to be approved on Tuesday
The government is set to approve Reliance Industries' long pending proposal to develop four satellite discoveries in the D6 block with some conditions on Tuesday.
DGH says gas output from D6 declined as RIL renaged from the approved FDP: Oil Minister
Reliance Industries-operated D6 block experienced steep decline in gas output because the company drilled only 22 wells.
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