Venedict Adam

Flashing natural gas news across the globe

Fantabulous and famous place for natural gas and oil gas source is Canada; currently there is huge risk in Canada’s ecosystem since the companies are exploring more, to pioneer in Oil and Gas industries, this was disclosed by the top international oil administrators at Montreal in the World Energy Congress which was held recently.

In the conference Peter Voser, the CEO of Royal Dutch Shell informed the members that there would be a bombastic blooming throughout the world for the necessity of natural gas.

 He also mentioned that the recent disaster in the Gulf of Mexico should be taken care and there are many factors that are affected due to this, such as the ground water and the fresh water get contaminated affecting the ambience largely. According to the predictions and hopes of the Peter Voser the demand for the natural gas and oils will be increased around 25 per cent by 2020 and in 2030 there would around 50 percent increase in the demand since there are more countries coming out like China, India etc.

 The Oil & Natural Gas Corporation and the Indian Oil stocks are increased to 19,000 crore rupees, this news was declared by the Petroleum Secretary, Mr. S. Sundareshan according to the desires of the Central Government of India. He also cited that huge giant organizations like Paradip refinery to invest around Rs 29,000 crore in the forth coming couple of years and the refining capacity for India will be increased from 185 million metric tonnes to 240 million metric tonnes.

 There would be a huge loss for the oil marketing companies since the price of petrol per liter is reduced Rs 1.75 and Rs 200 per cylinder of LPG and Rs. 15 per liter for kerosene. In the second quarter of the year ,the combined loss of the Oil and Gas companies in India like IOC, HCPL and BCPL are nearly Rs 8,000 crore, the price rise of the petroleum products have reduced the loss to Rs. 4,000 crore which is almost 50 percentage. At the end of the year 2011 there will be termination of the shale gas exploration and the technology expected will be complicated and this technology should not be compared with the NELP. He also thanked Reliance Industries, Australia’s BPCL and the initial attempt of North America for their indefatigable efforts for making the Shale gas matter to hit the headlines in the news regularly.

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