Oil Min Wants Reliance Back-quickchm

Business State-owned Oil and Natural Gas Corp (ONGC) may have won a large oil block in Venezuela but the Petroleum Ministry wants Reliance Industries to join the project to give stability to the venture. ONGC Videsh Ltd, the overseas investment arm of the state-run explorer, and Reliance had in 2008 teamed up to bid for the Venezuela’s Carabobo field auction but last year the Mukesh Ambani-run firm walked out sighting delays in the bid round. OVL subsequently roped in Spain’s Repsol YPF and Malaysian state Petronas to win Carabobo-1 heavy oilfield. But since the project involves investments that may over the life of the project run into USD 40 billion, the Oil Ministry wants Reliance back into the project, sources in know of the development said. Sources said fillers at very high level were sent to Reliance but it has so far remained non-.mittal on taking the state. Reliance has, however, agreed to bail the state-run firms out agreeing to buy over one-fifth of the 400,000-480,000 barrels per day of oil production envisaged from the project. OVL, Repsol and Petronas all have an 11 per cent stake each in the project, while Indian Oil Corp (IOC) and Oil India Ltd (OIL) have 3.5 per cent each. The remaining 60 per cent is held by Venezuela’s state Petroleos de Venezuela (PdV). As per the bid conditions, the foreign firms, who were offered a maximum of 40 per cent stake in the project, had to .mit to offtake the entire production. Sources said of the planned output, Repsol had indicated it can take 165,000 barrels per day while Petronas said it could take 100,000 bpd. The remaining 220,000 bpd was split equally between OVL and OIL. OVL’s share of 110,000 bpd would go to ONGC’s subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL), while Reliance agreed to take OIL’s share for at least 10 years from the start-up in 2016-17. About the Author: By: JohnSmith – There is a huge difference in the ROI when you hire a professional web design and development .pany in Tucson, AZ who has deep insight of your niche than just any web design .pany. By: Chintan Shah – Jio will offer its free 4G Wi-Fi service in 6 stadiums during the T20 World Cup matches. By: akansha tyagi – As a matter of fact working through in order to adjust various cities in order to make easy the business fineness in the healthy mode The prime reason for the succeeding boom in the real-estate in the latest years are that the industrial sector h … By: akansha tyagi – Promoted by one of the leading property .panies prestige Lakeside Habitat Construction it can be an ocean of infinite happiness & limitless pleasure. Supplementing latest chapter of your verve within these .fortable abodes along with 2 / 2.5 … By: akansha tyagi – Anyway, it will wrong to consider it good only for living and not for investment. Without any doubt you can look at this venture as a better investment option too. address in Noida Expressway, I was quite sure that it will be up to my expectation … By: akansha tyagi – This residentle society project is considered to offer a wonderful experience to all individuals looking out for living spaces. Highest levels of quality are maintained at each level of construction which has resulted with extremely designed stru … By: akansha tyagi – All those potential seekers of living spaces planning to spend in this residentle society will absolutely experience the best time of their existence all across the Bangalore city, the .pany is trustworthy for delivering all excellence infrastr … By: akansha tyagi – All rounded off by an environment that is blissfully tucked away and yet enthusiastically accessible via the expressway, which is why at Prestige Royale Gardens, we say Wel.e to a Latest World. Quick facts about Prestige Royale Gardens Location … By: akansha tyagi – I was quite sure that it will be up to my expectation and my beloved once be loved once beloved once beloved once family standards. To be frank, it as well as helped me raises my social status as well as Out of my experience with the builder c … By: akansha tyagi – Talk about a breath of fresh air, this is indeed more than a lungful. You will be hard-pressed indeed to put your finger on another development that gives you open space that is this expansive. And what makes it even better is that all around you … 相关的主题文章: