There is no question of the US or any other country pressurising India on the proposed Iran-Pakistan-India gas pipeline project, Lok Sabha was informed on Thursday.
Iran on Thursday made no firm commitments of honouring the $22-billion deal to export LNG to India but said will look at "ways" for early implementation of the two-year-old contract.
Prime Minister Manmohan Singh laid the foundation stone of the Rs 5460.61 crore (Rs 54.6 billion) Assam Gas Cracker project on Monday, now known as Brahmaputra Cracker and Polymer Ltd.
India has asked Pakistan to waive the $200 million transit fee a year for allowing passage of a pipeline carrying natural gas from Iran.
CNG dealers in Mumbai, Thane and Navi Mumbai region have threatened to go on strike from midnight of March 14 on the issue of dealer margin being given to them by the oil PSU's.
India is likely to sign a $145 billion deal by June to import natural gas from Iran through the proposed Iran-Pakistan-India pipeline after Tehran lowered the sale price by 30 per cent.
ONGC confirmed on discovering natural gas in KG basin off the Andhra Pradesh coast and Mahanadi basin off Orissa coast, but said the find in KG basin posts 'technological challenges' and it was on looking for a strategic partner.
Crude oil prices have fallen to below $113 a barrel this week from all-time high of $147 per barrel witnessed last month. The basket of crude oil India buys averaged $109.88 per barrel, down from $119 a barrel price on June 4 when petrol, diesel and domestic cooking gas prices were raised.
The government on Wednesday announced a cut in the price of petrol by Rs 2 a litre and of diesel by Re 1 a litre, a move that saw the shares of oil companies tumbling.
The government on Wednesday announced a cut of Rs 2 per litre in petrol and Re 1 in diesel prices from midnight tonight.
India and Pakistan have rejected the gas import price worked out by a consultant appointed by Iran as part of the over $7 billion tri-nation pipeline project.
The government will cut petrol and diesel prices when there is a sustained drop in global crude oil prices, Petroleum Minister Murli Deora said on Tuesday.
Qatar has agreed to supply 1.2 million tonnes per annum of liquefied natural gas to fire the Dabhol power plant in Maharashtra, but differences persist over the price.
He sought oil bonds from the finance ministry to cover 57.1 per cent of the total Rs 77,000 crore losses suffered by the oil companies in 2007-08.
The Union petroleum minister has assured the petroleum dealers that he would discuss with the Maharashtra government to bring sales tax rates at par with neighbouring states.
ONGC Videsh Ltd, the overseas investment arm of Oil and Natural Gas Corporation (ONGC), has signed a joint venture agreement with Petroleos de Venezuela S.A. (PdVSA) to take 40 per cent stake in the San Cristobal oilfield in Venezuela. Under the agreement, OVL and PdVSA will develop the field from its current production level of 20,000 barrels per day to 40,000 barrels per day, company officials said. OVL will make a total investment of $ 355.738 million comprising signature.
Petroleum ministry has rejected Reliance Industries Limited's plan to sell natural gas to Anil Ambani Group firm Reliance Natural Resources Ltd at less than half the market price.
Subir Raha, who was last week denied an extension as head of Oil and Natural Gas Corp on the basis of a critical performance appraisal by former petroleum secretary S C Tripathi
Virtually securing the consent of Left parties, the government is likely to decide next week on a price hike of Rs 4 per litre for petrol and Rs 3 a litre for diesel while sparing cooking gas and kerosene.
The working group of India, Iran and Pakistan will meet in Islamabad from May 22 to May 24 to further work out modalities for Indo-Iran gas pipeline project.
Iran on Tuesday said India had not been 'ousted' from the proposed $7-billion tri-nation pipeline, even as it set an August deadline for New Delhi to sign an agreement on the project.
India expects to attract at least $4 billion of investment in oil and gas hunt in the seventh round of auction of acreage under New Exploration Licensing Policy (NELP) which was launched on Thursday.Petroleum Minister Murli Deora announced the offer of 57 oil and gas blocks - nine in shallow water, 19 in deep-sea and 29 onland, in NELP-VII, bids for which will close on April 11, 2008.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), is in talks to acquire stakes in two oil blocks in Sudan, a nation which is the Indian flagship is largest overseas oil producing base.
Petrol and diesel prices are unlikely to be hiked in the near future, with Finance Minister P Chidambaram agreeing in-principle to share a third of the revenue loss that state-run oil firms incur on sale of fuel
The government on Wednesday broadly hinted about a hike in petrol and diesel prices, saying although it has kept retail prices unchanged it cannot do so for long given the rise in crude oil rates.
After Moily took over as oil minister, the central government agreed to link prices with global indices.
Petrol and diesel prices in the national capital have been raised marginally following the state government's decision to levy sales tax on the two auto fuels.
The government on Friday ruled out an immediate increase in petrol and diesel prices in line with rise in international oil prices.
Supply of the much-needed gas to Dabhol is set to be delayed again. The reason: shortage of pipes required to build the Dahej-Uran pipeline which will feed the gas to the plant.
Under-realisation on selling domestic LPG and kerosene through public distribution system is likely to be around Rs 50,000 crore (Rs 500 billion) during the current fiscal, Petroleum Minister Murli Deora said on Monday.
Putin, who was the chief guest at the Republic Day celebration, was seen off at the airport by Minister for Petroleum and Natural Gas Murli Deora.
The government said on Monday it is examining whether domestic petrol and diesel prices can be reduced in line with the fall in global crude oil prices.
Kerosene and domestic LPG prices in India are the lowest in South Asia, while the rates for petrol and diesel are comparable with its neighbours, petroleum minister Murli Deora said on Thursday. Kerosene in Pakistan costs Rs 34.89 a litre, Rs 30.53 in Bangladesh, Rs 21.26 in Sri Lanka and Rs 34.35 per litre in Nepal.
ONGC Videsh Ltd, the overseas investment arm of state-owned ONGC, and Chinese firm Sinopec have jointly won the bid to acquire Columbian oil firm Omimex de Columbia.
The government on Friday rejected Reliance Industries Ltd's demand for compensation equal to public sector oil firms, to make up for the losses it suffered on petrol and diesel sales.
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