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The Indian Union Cabinet has endorsed a new policy framework meant to incentivise the development of enhanced recovery methods for oil and gas operations. Companies would be offered 50% cut on the RUP4,500/t (US$62.5/t) oil cess rate and 75% cut in royalty in order to boost domestic output. India’s oil fields are ageing and the domestic oil and gas production is expected to decline if no enhanced recovery techniques are applied. With the introduction of enhanced oil recovery techniques, approximately 120 Mt of additional oil could be unlocked in the next 20 years.

The new policy will be effective for 10 years from the date of its notification while the fiscal incentives will be available for a 10-year period starting from the production start in case of enhanced recovery or unconventional hydrocarbon production method projects.

The monitoring and implementation of the new policy will be ensured by an enhanced recovery committee which will comprise representatives from the Ministry of Petroleum and Natural Gas (MoPNG) and the Directorate General of Hydrocarbons (DGH).

The Indian Supreme Court has given a deadline of 28 months, until December 2021, to 57 domesticpower plants so that they can meet emission standards for sulphur oxide (SOX) and particulate matter (PM). All the concerned facilities have an installed capacity of 500 MW. National Thermal Power Corporation (NTPC) owns 48 of the plants targeted by the Supreme Court,…

Polish state-run energy company Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) has renewed its contract with Ukrainian gas transport system operator Ukrtransgaz for the use of Ukraine’s gas storage facilities. Thanks to the agreement, PGNiG is entitled to operate directly on the Ukrainian gas market and to gain access to storage facilities.

The Pakistan Economic Coordination Committee (ECC) has scrapped the 46% increase in gas tariffs proposal and overturns the decision of the Prime Minister, saying that the price hike might have an impact on the country’s poorer citizens. The plan was approved by the Oil and Gas Regulatory Authority (Ogra) in June 2018 and meant to curb gas theft,…

The Nigeria Rural Electrification Agency (REA) has issued a request for expression of interest for the 1,000 MW Jigawa solar independent power producer (IPP) electrification programme in the state of Jigawa (North West Nigeria). REA is seeking consultancy companies to conduct feasibility studies and master plan design for the electrification programme,…

US energy company ExxonMobil has signed a preliminary non-binding agreement with Alaska Gasline Development Corporation (AGDC), the developer of the proposed US$43bn Alaska LNG export project. As per the agreement, the company plans to supply feed gas for the liquefaction facility from its Prudhoe Bay and Point Thomson fields operations (Alaska North Slope).

Russian independent oil and gas producer Novatek has signed an agreement with the Russian Far East Development Ministry and the Kamchatka government for the construction of a marine LNG transshipment complex in Kamchatka (Russia). Novatek commits to investing RUB70bn (roughly US$1bn).