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Journal of Energy Issues in India

Issue 1, August 25, 2006

Energy deficiency in India is seeing large investments in mega projects in refinery, pipeline installations, new power generation projects, power line grid deployment, and even private sector nuclear plants. Many companies recently announced plans to create new projects specifically targeting energy and power-generation.<More>

Internal Initiatives
  • ONGC Unveils Massive Investments
    To fund expected growth, Oil and Natural Gas Corporation (ONGC) unveiled plans to invest Rs. 130,000 crore (USD 28.2 billion) from 2007-2012 in oil and gas exploration, overseas acquisition of captive resource assets, and expansion of infrastructure.

  • Two More Mega Power Projects
    Power Minister Sushil Kumar Shinde said that India would add two more 4000-megawatt (MW) mega power projects one each for Andhra Pradesh and Orissa each costing about USD 3.6 billion using a private-public investment vehicle. .

  • ONGC Reveals Major Expansion Plans
    The State-owned Oil and Natural Gas Corporation Limited (ONGC) announced plans to create a mammoth 45.5 million tons (mt) refining capacity at a cost of USD 12.5 billion that will spur it closer to its vision of being a global player by 2009-10.

  • India will be World’s Refinery Hub
    Rising demand for energy, high price of oil, lack of US & EU investments in refinery has created a space for India, much like the business process outsourcing sector, to become the world’s choice destination for refining crude oil.

  • Energy Deficit India Sparks Mega Projects
    Energy deficiency in India is seeing large investments in mega projects in refinery, pipeline installations, new power generation projects, power line grid deployment, and even private sector nuclear plants.

  • Large Gas Reserve Find
    A consortium of Oil and Natural Gas Corporation (ONGC), Reliance Industries, and Great Eastern Energy Corporation discovered 6 trillion cubic feet of gas reserves below the coal seams.

  • Govt Plans More Power Plants
    The Federal Power Ministry unveiled ambitious plans to create several ultra mega power plants that can generate 4000 mega watts (mw) at the cost of Rs.150 billion each.

Reforms & Liberalization

  • Commies Say No to Oil Price Hike
    Buoyed by the exit polls that predicted an ultra-left victory in state elections, the communists vowed to stop the Government from hiking oil prices that could force oil companies to absorb a loss of over USD 16.5 billion or $13.5 billion for the exchequer.

  • Sharp Increase in Wind Power Generation
    Turbine manufacturers in India say that they registered a 45% rise in installed wind power capacity grew to 5,200 megawatt (MW) from 3,595 MW with Tamil Nadu contributing a bulk of this capacity addition of 870 MW.

  • New Petro & Gas Regulatory Authority
    Petroleum Minister Murli Deora introduced a new Petroleum and Natural Gas Regulatory Board Bill in the Rajya Sabha (Upper House of the Parliament) to create a new regulator of downstream petroleum and natural gas investments.

  • Largest Oil Exploration Tranche
    In the largest ever tranche, India will offer 55 oil blocks, mostly offshore, covering 300000 square kilometers for exploration.

  • Govt Approves New Oil Project
    The Government authorized the creation of a strategic oil reserve project under the control of the federal Oil Industry Development Board (OIDB).

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.

  • 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.

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South Indian Inscriptions

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