The finance ministry had recommended that the government disinvest 10 per cent of its stake in the proposed initial public offer of Oil India, a state-owned upstream company, said Petroleum Minister Murli Deora.
In an attempt to hold on to its exploration blocks in the Krishna-Godavari basin, Oil and Natural Gas Corporation is in talks with British Gas (BG) and British Petroleum (BP) for joint exploration in four offshore blocks in the region.
Silicon Valley-based Ikanos Communications on Wednesday launched 100/100 Mbps fibre-fast broadband solution in India targeting businesses and consumers.
Indian oil and petrochemical company Reliance Industries is considering oil sector acquisitions in Europe and the United States and a possible listing in New York or London, a senior executive said on Tuesday.
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
Water in the river Tapti has been rising steadily since Sunday after the gates of the Ukai dam built upstream on the river were thrown open due to heavy water inflow from the catchment areas.
The post fell vacant after the government refused Subir Raha an extension at the helm of the company after his first five-year term expired in May.\n\n
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
Bangladesh said most of its water bodies are drying up because India is damming and diverting rivers upstream.
The length of the main trunk pipeline is 1,385 km from Kakinada to Bharuch and 75 km is the length of the spur lines.
Oil and Natural Gas Corporation will shell out Rs 5,023 crore (Rs 50.23 billion) to subsidise kerosene and LPG in the second quarter of current fiscal.
S K Joshi, director (finance), BPCL, says that the Indian basket has fallen below $64 per barrel in September and he expects to receive oil bonds shortly.
The government is working on a plan to pass on part of the revenue loss public sector oil marketing firms are incurring on sale of liquefied petroleum gas and kerosene, to refiners, including Reliance Industries Ltd.
Valdel Engineers & Constructors (formerly John Brown Technologies) has been awarded the ISO 9001:2000 certification by Lloyd's Register for design and engineering services.
The company had assets in countries like Yemen, Peru, Oman, Myanmar, Columbia, East Timor, Kurdistan and Australia, but it exited almost all these blocks later as part of its portfolio rationalisation
Indian Oil Corporation may bid for acquiring petrol pumps owned by Kuwait Petroleum Corporation and Jet, a subsidiary of Canoco Philips, in Thailand to expand its retailing operations beyond India.
UK-based Cairn Energy will invest $1.33 billion in its Rajasthan oilfields to produce 1,25,000 barrels per day from mid-2007, an official said on Friday.
Pradhan said a National Data Repository which will store information on all sedimentary basins of the country is being pursued on top priority.
The government is mulling hiving off ONGC Videsh Ltd, India's flagship firm for overseas oil asset acquisition, from Oil and Natural Gas Corp into a separate entity to be owned jointly by public sector oil firms.
The state-run Oil and Natural Gas Corporation may buy stake in Bharat Petroleum Corporation's 6 million tonne Bina Refinery.
Post-cessation, activities related to the safe shutdown of the field are underway.
Upstream regulator Directorate General of Hydrocarbons has sent notices to Reliance Industries and Niko Resources of Canada, seeking explanation as to how they arrived at the increased figure of 35.4 trillion cubic feet (tcf) of gas reserves.
The pricing and marketing freedom for exploitation would be capped by a ceiling price.
For every rupee fall against the dollar, the under-recovery will increase by Rs 8,000 crore
35 others have been injured in the landslides and flashfloods triggered by torrential rains.
Sixteen deaths in rain and flood-related incidents have been reported from western Maharashtra in the last seven days, while the toll in Karnataka rose to five since Sunday.
The Indian crude mix is currently hovering at a record high of $42 per barrel as against an average price of $29 per barrel in FY04
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