{"id":278904,"date":"2019-06-18T06:17:49","date_gmt":"2019-06-18T06:17:49","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=278904"},"modified":"2019-06-18T06:17:49","modified_gmt":"2019-06-18T06:17:49","slug":"bpcls-investment-plan-for-mozambique-gas-field-gets-approval","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bpcls-investment-plan-for-mozambique-gas-field-gets-approval\/","title":{"rendered":"BPCL\u2019s investment plan for Mozambique gas field gets approval"},"content":{"rendered":"<p>A ministerial group headed by home minister Amit Shah has given its nod to Bharat Petroleum Corporation\u2019s (BPCL) plan to invest $2.2-2.4 billion in the Rovuma Offshore Area-1 gas field in Mozambique. The group \u2014 including finance minister Nirmala Sitharaman, commerce and railway minister Piyush Goyal, external affairs minister S Jaishankar and petroleum and steel minister Dharmendra Pradhan \u2014 had met on June 4 to scrutinise the investment plan, as it is still to be approved by the Cabinet Committee on Economic Affairs (CCEA).<\/p>\n<p>The approval was required as Anadarko Petroleum, the US-based project operator, will be announcing the final investment decision on the LNG project on June 18 during the Africa-US Business Summit 2019, which is also being held in Mozambique. Two more Indian firms \u2014 ONGC Videsh (OVL) and Oil India (OIL) \u2014 have stakes in the gas field where 75 trillion cubic feet of natural gas has been discovered. In 2013, OVL bought Videocon\u2019s 10% stake in the project for $2.475 billion and a similar stake from Anadarko for $2.64 billion. Later, OVL gave 4% of its stake to OIL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A ministerial group headed by home minister Amit Shah has given its nod to Bharat Petroleum Corporation\u2019s (BPCL) plan to invest $2.2-2.4 billion in the Rovuma Offshore Area-1 gas field in Mozambique. The group \u2014 including finance minister Nirmala Sitharaman, commerce and railway minister Piyush Goyal, external affairs minister S Jaishankar and petroleum and steel minister Dharmendra Pradhan \u2014 had met on June 4 to scrutinise the investment plan, as it is still to be approved by the Cabinet Committee on Economic Affairs (CCEA). The approval was required as Anadarko Petroleum, the US-based project operator, will be announcing the final [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-278904","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/278904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=278904"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/278904\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=278904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=278904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=278904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}