India's share from oil fields abroad where it has taken equity stake, will spiral more than three-folds to 13 million tonnes of crude by 2007, Petroleum Minister Ram Naik said on Thursday.
In an apparent bid to resolve the row over divestment in public sector units including the one involving HPCL and BPCL, Prime Minister Atal Bihari Vajpayee held an informal meeting of senior Cabinet ministers.\n\n
Petrol and diesel will cost less in coastal areas than inland locations if Petroleum Minister Ram Naik approves a differential pricing policy
Petroleum and Natural Gas Minister Ram Naik said on Wednesday that an agreement with Qatar had been finalised for supply of liquified natural gas from next year.
Petroleum Minister Ram Naik on Monday said the hike in petrol and diesel prices was "justified" given the hardening of global crude prices.
Former Petroleum Minister and senior Bharatiya Janata Party leader Ram Naik on Wednesday flayed the Congress-led government for raising the LPG prices, saying the burden on the common man could have been avoided by cutting duties.
India will begin importing gas in the form of liquefied natural gas from early 2004 to augment deficit in domestic production, Petroleum Minister Ram Naik said.
The government will take up the issue of decontrol of gas price at the time of framing a long-term Gas Pricing Policy, Petroleum Minister Ram Naik informed the Rajya Sabha on Tuesday.
In an era of deregulation and dismantling of the government-dictated pricing system, Power Minister Anant Geete wants the Centre to regulate the otherwise free liquefied natural gas imports, its pricing and the quantity and place of import.
My mind began to churn with questions I had always wanted to ask the prime minister.
Petroleum Minister Ram Naik said on Thursday that he expected a new government in Iraq to honour any oil exploration contracts held by Indian companies.
Safety will be the top priority for India while deciding the medium of transportation of gas now being negotiated with Iran, Petroleum Minister Ram Naik said in Teheran on Monday.
The multinational oil firm, however, is required to furnish a Rs 500 crore bank guarantee to the government.
A meeting of the Group of Ministers on freeing natural gas pricing from government control would be held next month, Petroleum Minister Ram Naik said in Lok Sabha on Thursday.
Petroleum Minister Ram Naik hinted on Wednesday that fuel prices may come down further if the international crude prices of Brent fall to around $20-22 per barrel.\n\n\n\n
With a view to avoid recurrence of last week's militant attacks at Digboi refinery and a gas pipeline in Assam, the government will tighten security at all key oil installations, Petroleum Minister Ram Naik
With international crude oil prices spiralling to a 12-year high at over $37 a barrel, Petroleum Minister Ram Naik pinned hopes on Finance Minister announcing some fiscal measures to avoid a certain increase in prices of petroleum products,
Petroleum Minister Ram Naik on Friday said oil companies will revise prices of domestic LPG only after Finance Minister Jaswant Singh replied to the Budget debate in Lok Sabha on Tuesday next.\n
The government will offer more than two dozen oil and gas blocks for exploration through competitive bidding under the New Exploration Licensing Policy.
Scottish explorer Cairn Energy has struck an estimated 20 million tonnes of oil and gas reserves in Rajasthan.
The government will set up three refineries in Paradip, Bathinda and Bina during the Tenth Plan period which would increase the crude refining capacity by 24 million tonne, Petroleum Minister Ram Naik said.
The pricing of natural gas will be discussed by the group of ministers concerned on January 29, Union Petroleum Minister Ram Naik said on Wednesday. \n\n\n\n
PM to deliver keynote address at Petrotech '03
Petroleum Minister Ram Naik has mooted sale of 12-15 per cent of government equity in oil refiner Indian Oil Corporation and exploration giant Oil and Natural Gas Corporation in the capital markets to shore-up state finances.
Petroleum Minister Ram Naik said there was no shortage of domestic cooking gas in the country, as imports made up for the shortfall in LPG output arising out of the shutdown of a crucial unit in the Jamnagar refinery of Reliance Industries Ltd.
Petroleum Minister Ram Naik said on Wednesday that he would forward to the Cabinet Committee on Divestment the proposals from public sector units under his ministry to bid for Hindustan Petroleum Corporation Ltd after examining individual proposals.
The government on Friday said it would not increase the cooking gas and kerosene prices despite escalation in the prices globally.
Cairn Energy of the United Kingdom has again struck oil in Barmer basin of Rajasthan, Petroleum Minister Ram Naik said on Friday.
Large quantities of liquefied natural gas will start flowing into the country from the Dahej Terminal in Gujarat when it becomes operational from January next year, Petroleum and Natural Gas Minister Ram Naik said on Thursday.
The government is considering building a strategic storage of crude oil to provide for a 45-day cover, Lok Sabha was informed on Thursday.
India will take a decision on freeing the pricing of heavily subsidised gas by July, Petroleum Minister Ram Naik told a gas industry seminar in Mumbai on Wednesday.\n\n\n\n
India will consult with the United States on building a 45-day strategic oil reserve, Oil Minister Ram Naik told reporters on Tuesday.
Petroleum Minister Ram Naik said on Thursday that Mangalore Refinery and Petrochemicals Ltd will not merge with Oil and Natural Gas Corporation.
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