India has emerged as the world's biggest cylinder-based liquefied petroleum gas user with the customer base crossing 7 crore (70 million mark), Petroleum Minister Ram Naik said.
Another big discovery of gas, like the one in Barmer in Rajasthan, was expected in a week's time, Petroleum Minister Ram Naik, said on Monday.
A total of 1.71 lakh earthen lamps were lit up at the grand event while a chopper decorated as the mythological 'Pushpak Viman' descended on the Ram Katha Park with artistes decked up to resemble Lord Ram, Sita and Laxman.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation, will acquire 11 per cent stake in a 744 million barrel oil field in Sudan for $125.4 million.
Maharashtra, by this month end, would become only the second state after Uttar Pradesh to sell ethanol doped petrol at all retail outlets, Petroleum Minister Ram Naik said on Monday.
The process of divestment of HPCL and BPCL, the two public-sector oil companies, would not be set in motion till the Lok Sabha has discussed the issue, Union Petroleum Minister Ram Naik said on Saturday.
British oil and gas major BG Group Plc on Monday committed to investing more in oil and gas exploration in India and setting up LNG import project.
There was no question of speaking with Pakistan on the proposed Indo-Iran oil pipeline as Tehran and New Delhi have decided to undertake a feasibility study for an offshore pipeline
Australia on Tuesday offered to sell LNG to India even as it said that high tariffs in several areas including coal and wool were proving prohibitive in increasing two-way trade.
Public sector oil companies paid Rs 2,687 crore (Rs 26.87 billion), on Thursday, to the government as interim dividend for 2002-03 to bridge its fiscal deficit target.\n\n\n\n
Petroleum Minister Ram Naik is likely to meet Finance Minister Jaswant Singh on January 30 to seek excise duty cut on petroleum products in view of excessive volatility in international crude oil prices.\n\n\n\n
Lead by example... that's the adage our netas followed on Thursday as several of them took to performing various asanas across the country to mark the country's fourth Yoga Day. Here's a look at some of them.
Petroleum industry Friday demanded abolition of 5 per cent customs duty on imported LNG and a uniform 4 per cent sales tax on LNG throughout the country to promote its use.
Petroleum Minister Ram Naik Friday indicated that prices of domestic cooking gas may be hiked before the Budget to check growing subsidies but said consumer interest will be kept in mind while taking any such decision.
New fuel to cost 15-20 paise less per litre
Petroleum Minister Ram Naik said the terms and conditions of the strategic sale of HPCL and and public offer in BPCL would be worked out by a core group of secretaries on divestment.
A decision on sale of government equity in HPCL, BPCL could be delayed beyond the Dec 7 deadline with PetroMin Naik stating he has no idea about the next CCD meet.\n\n\n\n
Government on Tuesday approved the proposals of Oil and Natural Gas Corporation and Indian Oil Corporation to offer voluntary retirement to their surplus staff.
A number of Union ministers including Defence Minister Rajnath Singh, Finance Minister Nirmala Sitharaman and Law Minister Ravi Shankar Prasad reached the residence of Union Minister for Minority Affairs Mukhtar Abbas Naqvi in New Delhi to celebrate Eid-ul-Fitr on Wednesday.
While hinting that further cut in petrol and diesel prices was likely during the next revision, Petroleum Minister Ram Naik on Saturday ruled out any possibility of increase in prices of LPG and kerosene
Petroleum Minister Ram Naik hinted on Wednesday that prices of petrol and diesel may be cut further at the fortnightly review on Thursday, in tune with the global softening of crude prices.\n\n\n\n
Iran may offer Indian oil firms equity in its oil and gas fields in return of New Delhi agreeing to buy natural gas from it.\n\n\n\n
Petroleum Minister Ram Naik on Wednesday hinted at reduction in prices of petrol and diesel in step with the fall in international oil prices, at the next fortnightly review due on April 15.
India's crude oil imports in 2002-03 rose to 82.34 million tonnes from 78.7 million in the previous year, Oil Minister Ram Naik said.
The government said on Tuesday that oil marketing companies are considering price revision of domestic LPG due to increase in international prices.\n\n\n\n
India plans to complete by 2006 a 180,000-bpd refinery, which has been under a cloud because of the proposed privatisation of the company that is building it, Oil Minister Ram Naik
The government on Wednesday ruled out any hike in the prices of LPG and kerosene in the face of war threats hovering over Iraq but said deposit money for LPG cylinders might come down in a couple of days.
Indian refiners, who buy about 7,000 barrels a day of Iraqi crude from the spot market, have made alternative arrangements for supplies if there is a war in Iraq, Oil Minister Ram Naik said on Thursday.
Petroleum Minister Ram Naik said on Monday the government planned to boost the country's strategic crude oil reserves to 45 days from 15 for an estimated cost of Rs 43.50 billion.\n\n\n\n
Rs 170,000 cr investment in oil sector likely
India to urge OPEC to hike oil production
The government will sell its remaining 26 per cent stake in IBP Co Ltd through a public offer this fiscal besides offloading 10 per cent equity in Oil and Natural Gas Corporation and Gail (India) Ltd to raise Rs 15,000 crore.
The government on Tuesday increased the distributors' commission on domestic cooking gas (LPG) by 38 paise on a 14.2 kg cylinder and by 20 paise on a 5 kg cylinder, resulting in an equivalent increase in the prices of the fuel.
The government on Tuesday said that it was in talks with CNPC of China and Petronas of Malaysia for buying their share of 8.4 million tonnes per annum of crude oil in a Sudan oil field where state oil firm ONGC Videsh Ltd has taken 25 per cent stake.
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