Ajoy K Das

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Ajoy K Das

Miners seek 10-year extension for Indian mining leases expiring next year

27th May 2019 Fearing delays in holding fresh auctions of 288 mining leases slated to expire in March next year, the Indian mining industry has sought a ten-year extension of leases for these mines until 2030. The Federation of Indian Mineral Industries, in a presentation to the government, has said that the... →

India’s ONGC plans mega investments to reverse falling oil production

27th May 2019 ndian national oil and natural gas exploration and production (E&P) major ONGC is planning a rapid ramp up of production by spending $9.40-billion over the next three to four years. Stung by a 4% fall in Indian crude oil production during 2018/19, largely owing to ageing fields operated by ONGC,... →

India’s SCCL developing greenfield underground coal mine

23rd May 2019 Moving against a general trend among Indian miners of closing down underground mines, State-run Singareni Collieries Company Limited (SCCL) has started work on developing a new underground mine in the southern state of Telangana. SCCL will develop the Kalyani Khani-6 Incline block in Telangana... →

Indian electricity regulator revives compensatory facility for coal-importing power companies

20th May 2019 The Indian electricity regulator has amended rules to revive an erstwhile window through which domestic thermal power generation companies were able to claim compensation for the additional costs of importing coal in the case that State-miner Coal India Limited’s (CIL’s) failed to meet supply... →

Cairns’ exploratory drilling in southern India triggers political storm in election season

14th May 2019 Cairns Oil & Gas, an arm of London-headquartered Vedanta, has been granted approval to conduct an environmental impact assessment (EIA) for oil and gas exploration in the southern states of Tamil Nadu and Puducherry, triggering a political storm in this election season. The Indian government gave... →

Indian mining industry seeks SPV route for speedier auction of new mineral blocks

13th May 2019 Indian industry representative bodies have requested that states first secure all regulatory approvals, such as environmental, forest and surface rights, for mineral assets, put into special purpose vehicle (SPVs), that go up for auction. The industry bodies argue that such a process will shorten... →

Indian crude oil import dependency surges to 84%

9th May 2019 Rising consumption and falling domestic production has increased India’s crude oil import dependency to 83.7% during 2018/19, compared with 82.9% during previous financial year, data from Petroleum and Natural Gas Ministry has showed. Despite Prime Minister Narendra Modi’s ostensible target to... →

Indian eastern states prepare to face Cyclone Fani

2nd May 2019 Indian oil and natural gas exploration and production major ONGC has shifted rigs and personnel operating in the Bay of Bengal as a precautionary measure ahead of Cyclone Fani, which is expected to make landfall along the coastline of the eastern state of Odisha within the next 24 hours.... →

India’s Steel Ministry eyes alternate mineral auctions

30th April 2019 India’s Steel Ministry is seeking to simplify and further liberate mining policy, including combining the two-stage auction of mineral blocks into a single stage bidding process. The Steel Ministry feels that single stage bidding for mineral blocks will lower the impact of skyrocketing premiums... →

Petronet applies to construct new LNG terminal

30th April 2019 ndia’s Petronet LNG Limited has proposed constructing a liquefied natural gas (LNG) floating storage regasification unit (FSRU) in Andaman and Nicobar Islands. It has submitted an application to sector regulator Petroleum and Natural Gas regulatory Board (PNGRB), proposing the establishment of... →

Indian industries decry lack of foreign investment

30th April 2019 India’s apex industry representative body, the Federation of Indian Chambers of Commerce and Industry (FICCI), said that the mining sector has not witnessed any big investment by global mining giants despite 100% foreign direct investments being allowed in the sector. Citing a report from the... →

IBM seeks legal opinion on closed Goa mines

29th April 2019 The Indian Bureau of Mines (IBM), the federal government scientific and governance body, is seeking legal opinion on iron-ore mines in the western coastal state of Goa, shuttered since last year by court orders. A Supreme Court verdict on the mining leases of 88 iron-ore mines in Goa was... →

India’s Iranian gas investments buried by US sanctions

26th April 2019 India’s plan to develop natural gas assets in Iran has been buried in the wake of the US administration’s withdrawal of exemption from sanctions for trade in crude and natural gas with the Persian Gulf nation. A consortium, led by ONGC had held protracted negotiations with Iran since 2002 to... →

Nalco spat over surplus alumina sale to Vedanta reaches apex court

26th April 2019 Indian State-run integrated aluminium producer National Aluminium Company Limited (Nalco) has appealed to the Supreme Court seeking to prevent rival Vedanta Limited from participating in tenders for the sale of surplus alumina. Nalco has maintained that it would not register Vedanta as a bidder... →

Indian government issues supply assurances to domestic oil refineries

26th April 2019 In the wake of the end of sanction waivers by the Trump administration for imports of Iranian crude oil, India’s Petroleum and Natural Gas Ministry has officially issued assurances to all domestic refineries that the government will ensure adequate supplies. “The government has put in place a... →

India’s NMDC targets 63Mt by 2021/22

24th April 2019 Indian iron-ore miner NMDC Limited will ramp up its production capacity to 63-million tonnes a year by 2021/22, from 32-million tonnes achieved in 2018/19. The company is also planning to reduce logistics and transportation costs by 55% by constructing a slurry pipeline. →

India’s oil imports to surge on US actions

24th April 2019 The US administration’s decision to end sanction waivers for Iranian oil imports by India and seven other countries will trigger a surge in India’s oil import bill even as it scurries to secure new energy sources. The government’s preliminary estimates for 2018/19 estimate the Indian oil import... →

India’s Coal Ministry sets growth target for CIL

24th April 2019 India’s Coal Ministry has set a production target of 655-million tonnes for State-run miner Coal India Limited (CIL) for 2019/20. This compares with production of 607-million tonnes achieved by CIL during 2018/19, which is a shade below the 610-million-tonne target set by the Ministry for the year. →

Indian Cabinet approves pact with Bolivia

16th April 2019 India’s Union Cabinet on Monday approved a pact with Bolivia for bilateral cooperation in geology and mineral resources. “The Union Cabinet has given ex-post facto approval of the memorandum of understanding signed between India and Bolivia on cooperation in the fields of geology and mineral... →

India’s reformed oil, gas E&P policy to come into play in June/July

15th April 2019 India’s reformed oil and gas exploration policy will come into force when the next round of bidding for blocks kicks off in June/July, the sector regulator has announced. “Parameters of the new policy reforms shall apply from Open Acreage Licensing Policy IV onwards,” a notification from the... →

Indian iron-ore production peaks, but imports continue to surge

11th April 2019 Indian iron-ore production during last financial year has been provisionally pegged at an eight-year high, but the domestic market is plagued by the dichotomous dynamics of rising imports and unsold stockpiles across the regions. According to preliminary industry estimates, iron-ore production... →

India’s SCCL aims for 8% coal production growth in 2019/20

8th April 2019 Indian coal miner Singareni Collieries Company Limited (SCCL) has set a coal extraction target of 70-million tons for the 2019/20 financial year. The target is 8% higher than coal produced during 2018/19 at 64.4-million tons, says SCCL chairperson N Sridhar. →

Coal India production surges at close of financial year

3rd April 2019 A last lap unprecedented surge in production has enabled State-miner Coal India Limited to end the 2018/19 financial year with production of 607-million tons, marginally short of the 610-million-ton target agreed with the government. The miner thus achieved a production growth of 7% during the... →

Captive coal miners beat growth trends of merchant miners

28th March 2019 In contrast to State-run merchant miners, coal production from captive mines from April 2018 to February 2019 has been estimated at 44-million tons, recording a growth of 31% and outstripping the government’s target of 40-million tons for the current financial year, according to data sourced from... →

Vedanta announces oil discovery at its Bay of Bengal block

28th March 2019 Resource major Vedanta on Wednesday announced an oil discovery in its Krishna-Godavari block in the Bay of Bengal along the eastern Indian coastline. The company earlier established a discovery of natural gas at the same block. →

State resource companies a bonanza for India's cash-strapped government

27th March 2019 State-run resource majors are proving to be a bonanza for the cash-strapped Indian government ahead of the national elections. Nudged by the government, these companies were putting up cash through special second interim dividends and share buybacks. →

India’s Coal Ministry eases coal supply linkage rules for thermal power companies

27th March 2019 India’s Coal Ministry has eased rules for thermal power companies allowing them to source coal even without power purchase agreements (PPAs) with electricity distribution companies in place. The Cabinet Committee on Economic Affairs approved the revised rules for sourcing of coal by such power... →

India’s crude oil imports from Iran, Venezuela come under US pressure

22nd March 2019 India is negotiating with the US for exemptions from “extended sanctions” to maintain its current level of crude oil imports from Iran, but the country is also under pressure from the US administration to halt all crude purchase from Venezuela. According to officials here familiar with ongoing... →

Italy’s SME Ekoplant floats Indian subsidiary

22nd March 2019 To tap into the rapidly growing Indian ferrous and non-ferrous metals processing industry and stricter air quality monitoring norms, Milan-headquartered SME Ekoplant has set up shop in the country, floating a 100% wholly-owned subsidiary Eko Air Filtration India Private Limited (EAFIPL). “For... →

CIL told to ensure Indian power stations have 20 days coal supply

20th March 2019 To cope with peaking electricity demand during the summer months ahead, India’s Coal Ministry has directed State-run Coal India Limited (CIL) to ensure that each thermal power plant has assured stocks of 20 days on any given day. The Ministry has directed the coal miner to sustain the momentum of... →

Indian consortium plans EV battery plant linked to overseas lithium acquisitions

20th March 2019 The newly formed joint venture (JV) of Indian government mineral companies has entered into a lithium-ion battery manufacturing business, linked to its plans to acquire lithium and cobalt mineral assets overseas. The lithium-ion battery manufacturing venture will be led by State-run National... →

India’s Shipping Ministry unveils guidelines of LNG FSRU at all major ports

15th March 2019 India’s Shipping Ministry has drawn up guidelines for setting up floating storage regasification units (FSRU) for liquefied natural gas (LNG) at all major ports in the country. The new guidelines aim to promote a shift from land-based LNG storage terminals to offshore units, as the latter cost... →

India’s Coal Ministry cancels coal block auction

11th March 2019 Barely a week after starting the process, India’s Coal Ministry has called off the auction of coal blocks. In a notification the Ministry said, “the sixth and seven tranche of coal block auction stands cancelled,” without stating any reasons. →

Polish mining majors keen to develop Asia’s largest coal block

11th March 2019 The Deocha-Pachami coal block, in the east Indian state of West Bengal, and billed as the largest single-location reserve in Asia, is likely to be developed by the state government in collaboration with mining majors in Poland. Several rounds of talks have been held over the past month between... →

India’s Coal Ministry moves to get coal auction under way

6th March 2019 India’s Coal Ministry has taken the first step to get the much delayed coal block auctions for private miners under way, but uncertainties loom large over timelines with the national elections just round the corner. The Coal Ministry last week floated a request for proposal (RFP) for the... →

India approves ‘first right to refusal’ to mineral reconnaissance permit holders

6th March 2019 The Indian government will grant reconnaissance permit (RP) holders a ‘first right of refusal’ in cases where a mineral block is put up for auction wherein the RP holder has established evidence of minerals. The move is aimed at boosting sentiment among prospective investors, as RP holders would... →

SCCL likely to secure second coal block outside its hinterland

28th February 2019 India’s Singareni Collieries Company Limited’s (SCCL’s) bid to expand its mining footprint beyond the southern region received a boost with news from the Coal Ministry that it may be allocated a new coal block in Odisha in the east. Sources say that the miner has received “unofficial verbal... →

ONGC Videsh, partners sign deal to sell LNG from Mozambique’s Rovuma offshore

27th February 2019 India’s national oil, gas exploration and production major, ONGC Limited, has concluded long-term sale and purchase agreements for a total of 9.5-million tons a year from future production from its Rovuma Offshore Area I, in Mozambique, the company announced this week. “The project is progressing... →

India’s Assocham wants to put stop to ‘resource hoarding’

27th February 2019 The mining industry in India has requested that the Mines Ministry include a provision in auction rules that will prevent successful bidders hoarding resources. The industry has pointed out that a large number of bidders at mineral block auctions aggressively put in bids and secure mineral assets... →

India offers fresh incentives to oil, gas E&P companies

25th February 2019 n a bid to increase domestic output and fuel investments in the sector, the Indian government has approved offering marketing and pricing freedom to oil and natural gas exploration and production (E&P) companies for their yet-to-be developed assets. In addition, the government has offered a... →

India bans private firms from mining beach sand

25th February 2019 The Indian government has banned beach sand mining by private companies in a bid to check illegal sand mining and coastal erosion from rampant violations of mining rules across coastal states. “Coastal areas in Kerala, Tamil Nadu, Odisha and Andhra Pradesh where beach sand is laced with rare... →

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