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Newton Business Solutions

NBS INDIA is an India-based independent Business advisory and Consulting Company with the experience in wide range of international projects. Our purpose is to improve the quality of communication across our clients . “Selling businesses is our only business, and we attribute our success to this fact”……..

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1. ONGC Videsh, Indian Oil Corp and Oil India may invest about $ 4 billion to start production from a massive gas field discovered in offshore Iran
2. Reliance has agreed to extend the validity of an offer to subcontract Transocean’s new build ultra deepwater rig Dhirubhai Deepwater KG1 to ONGC until the end of April - and lower the price.
3. First oil drilling rig being built in India misses deadline - Bharati Shipyard constructing jack-up drilling rig at its facility in Dabhol, Maharashtra.
4. Simmering tension between ONGC and Cairn India over development of the Mangala and other discoveries at block RJ-ON-90/1 surfaced dramatically last week, with ONGC.
5. Great Offshore reports 68 pc jump in net profit for the quarter ended March 31 2009 - Rs 710 mn from Rs 420 mn in the year-ago period.
6. GAIL faces a clamour from politicians of all stripes to re-tender an ongoing pipeline project on the grounds that the global economic slowdown has resulted in a sharp 25% drop in steel prices since bids were submitted in January and opened in late March.
7. Oil secretary RS Pandey has thrown his weight behind moves to extend the power of the DGH across the country’s exploration and production sector.
8. SK Srivastava, deputy director general at the DGH, is favourite to become the new director operations at Oil India to fill the vacancy left open since former director operations NM Borah became chairman on December 1.
9. BP is ready to ‘farm-out’ up to 50% of its 100% stake at its 248-sq km CBM block BB-CBM-2005/III in the Birbhum district of West Bengal.
10. It is now official that director marketing Bhuwan Chandra Tripathi, 49, will be the next CMD of GAIL when UD Choubey retires at the end of July.
11. Petronet-LNG’s Dahej terminal is facing its first minor mishap after capacity was doubled this year due to faulty pumps .
12. The secretary has also ordered that ONGC on its own should fix responsibility on officers for not achieving 17 of the 29 project implementation milestones in 2008-09. He has stipulated that no promotions be granted to those who are responsible for project delays .
13. Indian Oil Corporation (IOC) has chosen Foster Wheeler USA Corporation as the process licensor for the 1.7 MMTPA Delayed Coking Unit (DCU) proposed to be set up at the Haldia Refinery as part of its Distillate Yield Improvement Project
14. OVL is focused on three fields which were offered in the IRAQ first bid round ( Zubair, West Qurna and Rumaila ).
15. Cairn India is planning to carry out a cutting edge time-lapse seismic study at its Ravva oil field, located off the Andhra coast, to identify additional in-place reserves within the Krishna-Godavari basin bloc
16. ONGC has drawn up plans to deploy 15 onshore rigs and one offshore rig in the near future. The procurement of rigs should be commensurate with the number of wells to be drilled in the year 2009¬2010
17. OVL-Hinduja deal ( $1.9 billion ) with Iran for developing the highly prospective South Pars 12 Block (SP-12) seems to have got stuck due to international politics.
18. IOC appears to be heading for yet another standoff over the completion schedule of its Ms Quality Upgradation Project at the Barauni Refinery( Rs 1,492 crore project ) due to hold up in commissioning of a captive power plant to cater to refinery's power requirements.
19. OVL is interested in 11 fields located in the southern, central and northern areas of Iraq which are in the process of being offered through a bidding round II by the Iraqi oil ministry.
20. Drilling contractors waiting nearly two months for word from ONGC to submit bids in an ongoing tender to hire an ultra deepwater rig that can drill in 12,000-ft water depths from December 2010.