Research, Development, and Collaboration

• 7 Nation Futuristic Nuclear Reactor
  Indira Gandhi Centre for Atomic Research (IGCAR) Director at Kalpakkam Baldev Raj has been elected Chairman of a 7 nation collaborative project to define a futuristic fast reactor with closed nuclear fuel cycle capable of generating 300-500 GWe nuclear energy.

• India Signs ITER Agreement
  India joined 6 other nations to sign the International Thermonuclear Experiment Reactor (ITER) Agreement contributing 10% of project cost with manufactured equipment to develop a prototype reactor that will make atomic fusion the next major source of energy.

• Indo-EU Energy Initiative
  On the heals of US and India announcing Indian participation in FutureGen project, the European and India are set to explore alternate sources of energy as envisaged by the recently-concluded First India-EU Business Conference on Energy.

• India & US in Futuristic Energy Project
  The United States has invited India to participate in a futuristic private-public project, called the FutureGen that will build a coal-based power generation plant that will have zero carbon emissions at a cost of USD 950 million.

• India, China Sign Oil and Gas Framework
  Federal Petroleum Minister Mani Shankar Aiyar said that India and China signed a framework that would allow state-owned oil and gas companies can evolve and submit joint bids for acquisition of assets overseas.

External Investments

• Consultant to Fix IPI Gas Rate
  Disagreeing over the price of gas over the USD 7 billion 2100 kilometer Iran-Pakistan-India Pipeline, India, Pakistan and Iran agreed to try one last time to break the impasse by appointing an international consultant to recommend a pricing plan.

• India Buys Power from Bhutan
  India signed an agreement with Bhutan to buy power from the 1020 megawatt (MW) Tala hydro-electric project, the largest bilateral cooperation project funded by India in a foreign country, which is also the framework for future hydro-electric cooperation.

• Iran Gas Deal is “Difficult”
  India’s grand plans to source gas from Iran to meet its energy needs has been shattered with Iran’s Foreign Minister Manouchehr Mottaki saying there were “difficulties” in honoring the USD 22 billion contract to see Liquefied Natural Gas (LNG).

• Lanka Allots Oil Blocks for India, China
  For the first time ever, the Sri Lankan Government has invited India and China to explore for oil in two of the seven blocks identified for exploration along its sea belt on a “nomination” basis which means that the two nations will not have to bid on tenders.

• Gail Consortium Signs Oman Deal
  A Gas Authority of India Limited (GAIL) led consortium signed the Exploration and Production Sharing Agreement (EPSA) with The Government of the Sultanate of Oman for Block 56 last week for exploration and production of hydrocarbons.

• India wants TAPI
  With a dead-on-arrival Iran-Pakistan-India (IPI) pipeline, India signaled strong interest in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) project that will transport natural gas for a severely energy deficient and rapidly expanding India.

• Uzbek Allows Indian Oil Exploration
  India and Uzbekistan reached a landmark deal where the latter will allow Indian companies to explore for natural gas that can then be shared equally.

• ONGC Pitches Brazil Stake
  In a first ever foray into Brazil, Oil & Natural Gas Corporation (ONGC) has pitched to acquire a 30% stake in the Campos Basin oilfield valued at USD 400 million.

• Suzlon Buys Hansen for USD 656 for Wind Energy
  Suzlon Energy Limited, makers of windmills, announced the acquisition of the second largest wind energy and industrial gear box maker, Belgium-based Hansen Transmissions International NV for USD 565 million.

• Indo-Mauritius Hydrocarbon MoU
  India and Mauritius signed a Memorandum of Understanding (MoU) to explore for hydrocarbons off Mauritius.

• ONGC, Mittal Energy JV?
  Indian oil major Oil and Natural Gas Corporation (ONGC) revealed plans to start a joint venture with steel baron Lakshmi Mittal to buy energy stakes around the work valued at USD 15 billion.

• Kalam to Iron out Myanmar Gas Deal
  President Abdul Kalam is traveling to Myanmar and would try to further the natural gas deal with that country now stalled because of unsure transport mechanism.

• US asks India Reconsider Syrian Investment
  The United States submitted an aide mémoire seeking India to reconsider its decision to invest in a Syrian oilfield.

• ONGC Invests 250 m in Sudan
  ONGC Videsh Limited and Bharat Heavy Electricals Limited (BHEL) have teamed up to invest USD 350 million in a 500 megawatt (MW) project in Sudan.

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  China Make Kazakh Oil Bid
  China's top offshore oil producer Cnooc is making a bid for obscure Canada based Nations Energy whose main asset is a 50000 barrels a day in Kazakhstan.