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Mint
12-07-2025
- Business
- Mint
Norms for transfer of participating interest among partners in oil, gas eased
New Delhi: In a move aimed at improving operational flexibility and ease of doing business in India's upstream oil and gas sector, the Union government has approved a long-pending recommendation to allow transfer of participating interest (PI) among existing partners without requiring government consent—as long as there is no change in operatorship. Participating interest means, in respect of each party constituting the contractor, the undivided share expressed as a percentage of such party's participation in the rights and obligations under the contract. Under the current contractual provisions of production sharing contracts (PSC), revenue sharing contracts (RSCs), discovered small fields (DSF) and coal bed methane (CBM), any participating interest or stake transfer within the existing parties requires prior written consent from the government. This move is part of the government's efforts to boost investors' interest and reduce energy import dependency. India aims to explore 2.5 lakh square km in the 10th round of auctions under the Open Acreage Licensing Policy. 'The Management Committee may be empowered to approve Participating Interest transfer cases where the contractor intends to transfer the PI within the existing parties of the contract, subject to no change in operatorship," said the report of the joint working group in April. A letter dated 10 July to the Director General of Hydrocarbons noted that the recommendation has been 'approved." The changes should come into effect at the earliest, as the Directorate General of Hydrocarbons has been asked to take necessary actions based on the ministry's approval. However, no specific timelines were mentioned. Noting that under the existing contractual provisions of all contracts, participating interest transfer within the existing parties of the contractor requires prior written consent from the government, the joint working group in June had recommended: 'However, this process involves a comprehensive technical, financial, and legal due diligence for each case." Expediting approval It added that in such cases, as the participating interest holders have already undergone verification during the contract award stage, evaluation for any change in the participating interest among existing parties of the contract may be foregone. 'Further, in many cases it has been observed that internal transfer approval can take up to six months, leading to significant project delays," the working group had said in its report on issues related to ease of doing business in the Indian upstream sector. The recommendation aims to expedite the approval process and reduce project delays, thereby promoting transparency and ease of doing business. 'PI holders should be required to comply with all the existing conditions of the contract," the recommendations said. Although the transfer of participating interest does not require the government's nod, it would need the signature of a government representative. This move is part of the government's efforts to boost investor interest. Under the 10th round of auction under the Open Acreage Licensing Policy, the government aims to explore 250,000 sq. km and reduce oil import dependence. The Draft Petroleum and Natural Gas Rules, 2025, for which stakeholders need to give their feedback by 17 July, also aim to modernise India's upstream oil and gas framework with several major reforms. Key among them is the introduction of an investor-friendly stabilisation clause, designed to protect lessees from adverse impacts of future legal or fiscal changes, such as increases in taxes, royalties or other levies, by allowing compensation or deductions. The Oilfields (Regulation and Development) Act, 1948, was amended in March 2025, which is also expected to boost investor interest in the oil and gas exploration and production sector. Data sharing in India During his visit to Vienna this week for the 9th Opec International Seminar, the minister for petroleum and natural gas, Hardeep Singh Puri, met several stakeholders in the oil and gas space, including Wael Sawan, chief executive officer (CEO) of Shell; Murray Auchincloss, CEO of bp; and Russel Hardy, Group CEO of Vitol, and spoke of opportunities to invest in the country's oil and gas sector. Among other recommendations, minister Puri approved open sharing of data from the National Data Repository at zero charge to micro, small and medium enterprises (MSMEs), startups and academic institutions. "NDR data may be integrated with the repositories of the National Oil Companies (NOCs), such as ONGC and OIL, and other ministries such as ministry of mines, ministry of coal, ministry of earth sciences, Central Ground Water Board, etc. ensuring seamless access to comprehensive datasets, including seismic, well, and other geological information," the recommendations said. The move aims to promote knowledge sharing, collaborative ventures, and technological advancements through enhanced data accessibility, thereby encouraging innovations in the oil and gas industry.
Time of India
25-06-2025
- Business
- Time of India
Cairn Oil & Gas powers Assam's tea industry with clean energy shift
Cairn Oil & Gas has been supplying clean natural gas from its Hazarigaon Gas unit in Assam to tea estates across Upper Assam. Producing more than 55 per cent of India's tea and nearly one-sixth of global supply, Assam's tea sector is the backbone of the state's economy. With over 650 million kilograms of tea produced annually, it supports the livelihoods of nearly three million people, from pluckers to packagers, and contributes significantly to India's GDP. As Assam's largest agri-based industry, tea is not just a symbol of heritage - it's a pillar of progress. Cairn Oil & Gas has been supplying clean natural gas from its Hazarigaon Gas unit in Assam, the first northeast block auctioned under the Discovered Small Fields (DSF) policy to be put to production, to tea estates across Upper Assam in collaboration with Assam Gas Company Limited (AGCL) since 2023. The gas is supplied through a main trunk pipeline and a gas cascading system. This transition away from coal-based energy systems is reducing carbon emissions, lowering production costs, and enabling estates to invest in modern, climate-resilient practices . 'Assam's tea is one of India's proudest exports, and at Cairn, we see clean energy as a catalyst for strengthening this legacy,' said spokesperson, Cairn Oil & Gas. 'Our mission is to support the industry's evolution through affordable, reliable energy that fuels not just operations, but long-term sustainability.' Tea estate owners are already witnessing the benefits. With Cairn's natural gas supply , gardens are reporting up to 15–20 per cent savings in fuel costs, alongside a measurable decline in greenhouse emissions. The improved energy efficiency is also allowing producers to diversify into specialty teas, adopt drought-resistant plant varieties, and integrate water-saving irrigation systems - critical steps in the face of climate uncertainties. One such estate, Arin Tea Pvt. Ltd., has implemented drip irrigation across 30 per cent of its acreage, resulting in 15 per cent water savings without compromising yield. 'Cairn's support has enabled us to innovate while preserving Assam's tea legacy,' said Rakhi Saikia, Director of Arin Tea. 'We're responding to the climate crisis with practical changes - shade trees, efficient irrigation, and climate-adapted cultivation - and clean energy is central to this journey.' This forward-looking approach echoes the vision of Vedanta Group Chairman Anil Agarwal, who, speaking at Advantage Assam 2.0, in February lauded the state's natural abundance and highlighted the transformative potential of aligning its traditional strengths - like tea - with sustainable, technology-driven growth.
Time of India
24-06-2025
- Business
- Time of India
Cairn Oil & Gas powers Assam's tea industry with clean energy shift
Guwahati: Cairn Oil & Gas has been supplying clean natural gas from its Hazarigaon Gas unit in Assam to tea estates across Upper Assam. Producing more than 55% of India's tea and nearly one-sixth of global supply, Assam's tea sector is the backbone of the state's economy. With over 650 million kilograms of tea produced annually, it supports the livelihoods of nearly three million people, from pluckers to packagers, and contributes significantly to India's GDP. As Assam's largest agri-based industry, tea is not just a symbol of heritage - it's a pillar of progress. Cairn Oil & Gas has been supplying clean natural gas from its Hazarigaon Gas unit in Assam, the first northeast block auctioned under the Discovered Small Fields (DSF) policy to be put to production, to tea estates across Upper Assam in collaboration with Assam Gas Company Limited (AGCL) since 2023. The gas is supplied through a main trunk pipeline and a gas cascading system. This transition away from coal-based energy systems is reducing carbon emissions, lowering production costs, and enabling estates to invest in modern, climate-resilient practices . 'Assam's tea is one of India's proudest exports, and at Cairn, we see clean energy as a catalyst for strengthening this legacy,' said spokesperson, Cairn Oil & Gas. 'Our mission is to support the industry's evolution through affordable, reliable energy that fuels not just operations, but long-term sustainability.' Tea estate owners are already witnessing the benefits. With Cairn's natural gas supply , gardens are reporting up to 15–20% savings in fuel costs, alongside a measurable decline in greenhouse emissions. The improved energy efficiency is also allowing producers to diversify into specialty teas, adopt drought-resistant plant varieties, and integrate water-saving irrigation systems - critical steps in the face of climate uncertainties. One such estate, Arin Tea Pvt. Ltd., has implemented drip irrigation across 30% of its acreage, resulting in 15% water savings without compromising yield. 'Cairn's support has enabled us to innovate while preserving Assam's tea legacy,' said Rakhi Saikia, Director of Arin Tea. 'We're responding to the climate crisis with practical changes - shade trees, efficient irrigation, and climate-adapted cultivation - and clean energy is central to this journey.' This forward-looking approach echoes the vision of Vedanta Group Chairman Anil Agarwal, who, speaking at Advantage Assam 2.0, in February lauded the state's natural abundance and highlighted the transformative potential of aligning its traditional strengths - like tea - with sustainable, technology-driven growth.
Time of India
19-06-2025
- Business
- Time of India
Dinesh Shahra Foundation: A beacon of sustainability, spiritual wisdom, and social empowerment
Dinesh Shahra In a world craving meaningful change, the Dinesh Shahra Foundation (DSF) shines as a force for good. Rooted in the timeless values of Sanatan Dharma and the idea of Vasudhaiva Kutumbakam — the world as one family — the foundation blends sustainability, education, and spirituality to uplift communities and inspire a better future. Planting the seeds of environmental sustainability DSF's Green Gold Day, launched on Dr Dinesh Shahra's birthday, has grown into a vibrant movement for environmental care. Over a million trees — from fruit-bearing and medicinal to other varieties — now stand tall in community spaces, industrial zones, and sacred sites like Parmarth Niketan Ashram and Gau Swarga. These efforts do more than heal the planet; they nourish local communities with food and economic opportunities. The Gau Shakti Abhiyaan is another cornerstone, protecting India's indigenous cattle breeds. These cows, cherished in Indian culture, support organic farming with natural manure and soil enrichment. Looking ahead, the foundation's Jal Shakti Mission is a bold vision for water conservation, especially in areas like Malwa, Madhya Pradesh, where every drop counts. Advancing education and social empowerment The organisation's commitment to education spans India, from Uttarkashi to Kanpur, Gokarna to Indore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo Schools like Parmarth Vidyamandir (Rishikesh), St Paul's School (Indore), HBTU (Kanpur), Barnagar Girls' High School, Lata Village (Uttarkashi), and Vishnugupt Vishwa Vidyapeetham (Gokarna) receive scholarships and support to nurture value-based, Vedic-inspired learning that celebrates Indian heritage. Beyond tradition, it fosters curiosity through science exhibitions, debates, and field trips, helping students balance modern knowledge with cultural roots. For women, DSF's empowerment programmes go beyond stitching centres, offering digital literacy, communication skills, and insights into today's socio-economic trends — equipping them to thrive in a changing world. The annual Gopal Gaurav Awards , held with Kamadugha Trust at Gau Swarga in Karnataka, honour those who champion sustainable farming and indigenous cattle care. Th foundation's compassion also flows through community meals ( Annadanam ), disaster relief for floods and droughts, and aid during the COVID crisis — all rooted in a spirit of togetherness. Spiritual values as the Foundation's soul The organisation's heart beats with spirituality, shaped by Dr Dinesh Shahra's upbringing and the guidance of Swami Pragyanand Ji. This deep connection to Indian traditions infuses the Foundation's work, from devotional music healing sessions at Auroville to honouring saints like Swami Sivananda Maharaj. It's a reminder that caring for the earth and nurturing the spirit are two sides of the same coin. The visionary behind the mission: Dr Dinesh Shahra Dr Dinesh Shahra, a trailblazing entrepreneur and philanthropist, is the driving force behind the foundation. Over five decades, he has transformed India's edible oil and agriculture sectors, helping make Madhya Pradesh the 'Soy Bowl of India' during the Yellow Revolution and advancing food security through oil palm plantations. In 2025, HBTU recognised his efforts with a Lifetime Achievement Award for nutrition security and sustainability. His writings and support for Indian classical music continue to inspire young people to live with purpose and embrace Sanatan values. The Foundation shows what's possible when vision meets values. By preserving indigenous cows, nurturing spiritual heritage, empowering through education, and fostering inclusive progress, it is lighting the way for a sustainable, harmonious Bharat.
Time of India
02-06-2025
- Business
- Time of India
OIL India starts gas production from DSF-III Bakhritiba block in Rajasthan, to scale up output to 100 MSCMD
New Delhi: Oil India Ltd (OIL) has commenced natural gas production from the Bakhritiba block awarded under the Discovered Small Field (DSF) III bid round in Rajasthan's Jaisalmer district. The production has begun at a rate of 67,200 standard cubic meters per day (SCMD), which is planned to be enhanced to 100,000 SCMD (100 MSCMD), according to the Ministry of Petroleum and Natural Gas. The gas output is being supplied to GAIL (India) Ltd and Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL), the ministry stated. The production comes after successful drilling of three MWP wells within the block's stipulated development period. Petroleum and Natural Gas Minister Hardeep Singh Puri, in a post on social media platform X, said, 'Heartiest congratulations to Oil India Limited (OIL) on setting a benchmark by achieving fast monetization from DSF III block by successfully drilling 3 MWP wells within the development period leading to supply of 67,200 SCMD gas to GAIL/ RRVUNL to be further enhanced to production of 100 MSCMD gas from the Bakhritiba Block in Jaisalmer district in Western Rajasthan.' Puri said the development 'stands as a testimony of OIL's resilience, resolve, and responsibility – delivering energy in challenging frontier environments.' The minister also acknowledged the efforts of the company's operational teams. 'I commend the tireless efforts of the OIL team, who brave extreme conditions every day to ensure steady energy flows. Every hydrocarbon molecule produced fuels India's march towards energy security and self-reliance,' he said. The Bakhritiba field development is part of India's broader effort to enhance domestic oil and gas output by monetising smaller hydrocarbon reserves awarded under the DSF policy.>
