ONGC to invest Rs 138 Bn in new projects

13 Aug 2024 CW Team

In a strategic move to enhance the production of natural gas, the Ministry of Petroleum and Natural Gas (MOP&NG) has notified a revised pricing policy that will see natural gas from new wells or well interventions in nominated fields of ONGC and Oil India Limited being priced at a 20% premium over the administered price mechanism (APM). This effectively sets the price at 12 %of the Indian Crude basket price.

Under this new guideline, the Petroleum Planning and Analysis Cell (PPAC) has outlined that the APM Price was previously pegged at 10 %of the Indian Crude basket price on a monthly basis. The implementation of this premium pricing is anticipated to render gas development projects in challenging areas viable, areas which are often capital and technology-intensive.

ONGC has responded to this policy update by approving two major projects totaling an investment of approximately Rs 138 billion. The first, the Daman Upside Development project in the Mumbai High field, involves a cost of about Rs 78 billion and is already underway. It is expected to reach a peak production of around 5 million standard cubic meters per day (MMSCMD).

Furthermore, the ONGC Board has sanctioned the Integrated Development of 4 Contract areas under the Discovered Small Fields (DSF-II) at an estimated project cost of Rs 60 billion. This project also benefits from pricing and marketing freedom under the DSF Policy and aims to hit a peak production of approximately 4 MMSCMD. The execution of this project has already been initiated. This policy shift aligns with India's ambitious target of increasing the share of natural gas in the national energy mix from the current 6 %to 15 %by the year 2030, supporting the country's broader energy and environmental goals.

Infrastructure Urban

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..