Chevron Will Write Down Its Assets By At Least $10 Billion

For example, Reliance Industries Limited’s (RIL) D6 block in the Krishna-Godavari (KG) basin now accounts for 32% of the country’s natural gas production. At the same time, it will also force those industries that cannot afford natural gas to shift their attention to using washed coal instead. To maintain the pooled gas price at a moderate level, the government might be tempted to force private Nelp contractors to hold down their prices. This is the reason private gas producers are wary of the government’s intervention in setting prices for their gas production. There is also a risk that the pooled gas price mechanism would lead to institutionalisation of government intervention in the determination of natural gas prices, eroding investor confidence in India’s oil and gas exploration regulatory regime. Water jetting is now recognised as the leading technique for an ecologically sound and fundamentally powerful method for cleaning, decoating and derusting of a variety of components within the oil and gas industry.

As the oil and gas industry is expensive, controlling the business costs matters to some great extent here. This would help the coal industry to better plan its coal washing capacity. Such a scenario will see India making a better use of its energy mix, without compromising its emission reduction goals. India took a significant step forward with the institution of a national exploration licensing policy (Nelp) that has led to several major gas discoveries and dramatically changed the domestic gas availability scenario. While domestic gas availability is expected to be comfortable until 2014, demand is likely to overtake domestic gas supply beyond that, necessitating stepping up of costlier LNG imports in a significant manner. As India’s natural gas demand is projected to grow at a much faster pace than availability from domestic sources, a sensible policy would be to encourage bulk consumers to meet a part of their gas requirement through imports. So, consumers in key sectors like power and fertiliser will have to increasingly depend on non-APM gas to meet their feedstock or fuel requirement.

Meanwhile, share of non-APM gas is expected to rise as more Nelp blocks go onstream in the coming years. Gas irons can be identified by a longish pipe coming out of the rear of the iron and pointing up at an angle. Work on the addition kept him out of school for the year, but he returned to the University of Alberta once the project wrapped up. Some of them have already started going slow on development work for their discovered fields. This is a well-intentioned move but may not help in the development of the Indian gas market. The idea behind the government’s plan to introduce pooled pricing, at least for specific sectors if not across the board, is to pave the way for the integration of the domestic gas market. Tonight, consumers of propane in the province seem to have at least a small victory on their hands, all in light of the past weekend’s power crisis.

As a common practice, contractors invite bids from gas consumers to discover market prices. The Nelp regime allows contractors freedom to sell gas at market determined prices. The government is seriously considering switching over to pooled gas pricing in a bid to bring some sort of uniformity in prices for the supply of natural gas to customers in different sectors. For producers who share this view, natural gas becomes the bridging fuel to a low-carbon economy . The report acknowledges in a number of places the importance of moving ahead with environmentally-friendly and low-carbon sources of energy where possible, even discussing that Africa might over time be able to “leapfrog” to these alternatives. This morning, the Goodrich management team provided a very robust report on their plans in the Tuscaloosa Marine Shale play. Brian Williams, an MIT professor and a designer of the AI software that helped create NASA’s Mars Curiosity Rover is a key member of the project team. Canada is a better, richer place for the efforts of the pioneers that helped create Amoco Canada. They include the northern extension of the Western Canada Sedimentary Basin in the Territories, the Beaufort Sea and Arctic Islands, the offshore Atlantic in the east and offshore British Columbia in the west.