The Ministry Of Petroleum and Natural Gas has ruled out a hike in the prices of petrol and diesel in the near future even as the price of the Indian basket of crude oil continues to remain above $65 a barrel.
Even as Minister of State for Petroleum Dinsha Patel has told the Rajya Sabha that new connections are easily available for genuine customers, householders all over India are facing an acute shortage of LPG cylinders.
India may be trying to become a crude oil refining hub but the country's apex planning body has raised doubts on the feasibility of adding more refining capacity.
There seem to be some more delays in the pipeline for the decade-old Bathinda refinery project of Hindustan Petroleum Corporation in which Mittal Investments recently announced its decision to pick up 49 per cent stake.
The competition between the two main players vying to lay cross-country natural gas pipelines has undergone a volte-face.
The big-ticket transnational gas pipelines that India was planning seem to be in trouble. Although the government maintains that the three pipelines
Hindustan Petroleum Corporation's upcoming Bathinda refinery in Punjab has forced Indian Oil Corporation to reconsider its plans to expand its refinery at Panipat to 21 mtpa.
The Ministry of Petroleum and Natural gas is likely to reimburse Oil and Natural Gas Corporation almost Rs 850 crore (Rs 8.5 billion) for the cost of exploration and development work in pre-NELP oil fields in the past.
More than one oil company bidding for same overseas assets.
Oil India, the government-owned upstream company, has lined up over $2 billion in the next five years to extend its oil and gas assets overseas
The threat of being priced out of the market by state-owned oil marketing companies has forced the private sector players to also opt for price cuts of auto fuels.
Reliance Industries, which has discovered gas reserves of nearly 14 trillion cubic feet in the Krishna-Godavari basin off the coast of Andhra Pradesh, is building a gas-receiving jetty in Kakinada.
Hindustan Petroleum Corporation, the state-owned company, could find itself becoming a major player in the oil and gas sector both within the country and overseas with huge capital being pumped in by the L N Mittal-promoted Mittal Investments.
After awarding oil and gas blocks under NELP-VI, the government is now turning its focus to the seventh round of the New Exploration and Licensing Policy (NELP-VII).
Domestic oil companies have been invited by countries like Yemen, Nigeria and Saudi Arabia to pick up stake in existing refineries and also set up greenfield units.
R A Mashelkar handed over charge of CSIR recently but continues to be the 'face' of Indian science.
Oil and Natural Gas Corporation, through its consortium partner in the Sakhalin-1 field in Russia Exxon Mobil, is in talks with Royal Dutch Shell for liquefying the gas from the fields before it is exported to China.
Low-to-negative margins on sale of petroleum products have forced some companies to scrap their retail expansion plan, while others have chosen to go slow.
After the euphoria over the recent oil and gas discoveries made by upstream behemoth Oil and Natural Gas Corporation
While the India-Myanmar gas pipeline continues to hang fire, Oil and Natural Gas Corporation may push for a gas-based power project in Myanmar to bring power to the power-starved north-eastern states
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