ONGC issued a global tender for hiring deep water oil rigs as part of the government's Samudra Manthan mission, which seeks to enhance India's energy security.
Natural Gas is compressed by cooling it to 161°C, at which temperature it becomes liquid and called Liquefied Natural Gas. LPG or Liquefied Petroleum Gas is one of the products derived from both crude oil and natural gas.
The decision came after Iranian drone strikes targeted an energy facility of Qatar’s state-owned energy giant, QatarEnergy, in the massive Ras Laffan Industrial City and a water tank at a power plant in Mesaieed Industrial City.
CNG and PNG prices are reviewed by the government each year. Nevertheless, there was no modification in gas prices on April 1, 2023, since the government was yet to make a decision about the Parikh Committee's recommendations.
A curious reality of the Russia-Ukraine conflict is that while Western powers provide billions in aid and weapons to Ukraine, they also keep paying billions to Russia for energy, thus funding both sides of a conflict.
Russian media has reported that the European Union would be temporarily increasing its gas purchases from Russia through countries which are ready to do their payments in Russian Roubles to compensate for the demand of Poland and Bulgaria.