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India fails to achieve oil & gas targets in 2017-18: Essar runs into trouble in Raniganj
Apr 20: Essar seems to have run into trouble with its Raniganj CBM block
8This website has received complaints that vendors have been not been paid off
8A few of them, Aakash Exploration, Kingston Oil field and MACO Corp. have been working with Essar Oil for the last five years as service providers for workover rigs
8But Essar has not paid up for the past six months, forcing them to move an insolvency petition
8The worst hit of course is Matix Fertilisers, which had set up a Rs 5000 crore ammonia-urea complex on the promise of gas from the Raniganj field. The company will have to wait for the trunk pipeline built by GAIL to become operational to get to full production.
8The plant tried to run on limited gas supplied by Essar but is currently under shutdown as Essar had closed some wells for planned maintenance and refrac jobs.
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