The Oil Industry Safety Directorate, under the Petroleum Ministry, carries out safety audits of oil and gas installations, besides formulating and standardising procedures and guidelines for design, operation and maintenance.
Narendra Modi's landslide victory gives him the mandate to deregulate diesel prices as well as raise natural gas rates with a clear road map towards free pricing to cut subsidies and shrink the budget deficit.
The blaze erupted around 7 am in the gas processing plant of the ONGC located in Uran area of neighbouring Navi Mumbai, an official said.
OVL had bid for two of the 10 shallow-water blocks that Myanmar had auctioned in December but drew a blank when the fields were awarded on March 26.
The acquisition of stake in Progress Energy Resources Corp's shale gas assets and Pacific NorthWest LNG for 1 billion Canadian dollars ($900 million) marks IOC's maiden entry into North America.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
State-run gas utility GAIL India and state refiner Bharat Petroleum Corp Ltd have floated a joint venture company to supply piped natural gas for domestic and commercial use
Falling oil rates have made rigs available for hire at a cheaper rate. Oil and Natural Gas Corporation planned to foray into building rigs in June 2008 owing to its short supply as crude oil prices zoomed northwards.
Reliance Industries on Friday hit out at Oil and Natural Gas Corp (ONGC) for suing it over KG gas dispute, saying some elements in the state-owned firm may be "misleading" the chairman D K Sarraf to hide their failure in developing the discoveries made over 13 years.
Petroceltic is headquartered in Dublin with offices in Edinburgh, London, Algiers, Varna, Cairo and Rome.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
Richest Indian Mukesh Ambani-led RIL was the top private sector company from the country as it jumped from 203rd rank last year to 148th.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
The government is bullish on Coal India and ONGC's stake sale programme which are to be held soon.
The government on Thursday permitted 100 per cent foreign investment under the automatic route in oil and gas PSUs which have received in-principle approval for strategic divestment. The move would facilitate privatisation of India's second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL). The government is privatising BPCL and selling its entire 52.98 per cent stake in the company.
The petroleum ministry has blamed negligence for causing the devastating fire at state-owned gas transporter GAIL India Ltd's gas pipeline in Andhra Pradesh that killed 22 people.
Adani is the fastest growing energy company in Asia-Pacific and the second fastest in the world
India Inc could be embarking upon a new phase of capital expenditure (capex) cycle, observed analysts, and suggest its revival would lead to a rerating of industrial stocks. Assisted by a property upcycle, analysts at Jefferies said several government initiatives were likely to drive capex. Indicators, they said, include a private project announcement at Rs 25 trillion for 2022-23 (up 150 per cent from pre-pandemic levels) and credit growth at about 16 per cent, which is closer to pre-pandemic highs.
ONGC and RIL bill their consumers like fertiliser plants and power stations in US dollar.
While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket.
Petrofed, a body representing both public and private sector companies like Indian Oil Corp and Reliance Industries, has written to the government seeking inclusion of crude oil, petrol, diesel, aviation turbine fuel and natural gas in the goods and services tax that is likely to come into effect from next year.
The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
IOC has been forced to shut down its Digboi refinery in Assam and is operating Guwahati unit at minimal throughput, while OIL has been forced to shut LPG production and its crude oil production has dropped by 15-20%. Sources said the agitation has blocked the movement of tankers and trucks, which are mostly used to supply petrol, diesel and LPG from the refineries to different parts of the North East.
The department believes dividend from CPSUs is a return on investment made by the government.
The acquisition of stake in Progress Energy Resources Corp for 1 billion Canadian dollars ($900 million) mark IOC's maiden entry into North America.
Indian Army personnel on Wednesday conducted yoga sessions at more than 100 locations along the country's land and maritime borders, forming a 'Bharatmala' on the occasion of the International Day of Yoga.
Besides IOC, ONGC Videsh Ltd has also sought two discovered fields from the 16 fields that Iran is likely to put on auction shortly
Power Grid Corp of India Ltd is set to form joint ventures with five more companies, including Oil and Natural Gas Corporation and Essar, for setting up transmission lines in the country entailing a total investment of Rs 5,000 crore (Rs 50 billion).
Expecting oil prices to remain under pressure, Fitch Ratings said deregulation of diesel prices in October will help in lowering the under-recoveries (which is nothing but international petroleum prices minus the subsidised retail rates).
As much as 8 billion rubles (about Rs 1,000 crore) of dividend income belonging to Indian oil firms is stuck in Russia after the Putin administration clamped down on dollar repatriation, officials said on Friday. Indian state oil firms have invested $5.46 billion in buying stakes in four different assets in Russia. These include a 49.9 per cent stake in Vankorneft oil and gas field and another 29.9 per cent in TAAS-Yuryakh Neftegazodobycha fields.
The merged entity will become the third biggest refiner behind IOC and Reliance Industries.
IOC has asked consumers to book LPG refill through IVRS or SMSes so that refills reach genuine users.
Yamal LNG is a joint venture owned by OAO Novatek with 80 per cent and Total S A holding 20 per cent stake OAO Novatek holds 60 per cent stake in Yamal LNG, while Total S A and China National Petroleum Corp hold 20 per cent each
Saikia, kidnapped on April 21, was released near the border in Longwa village of Mon district in Nagaland after 31 days, said a top official at Assam Police headquarters.
With the Petroleum Ministry opposing disinvestment of IOC in the market, government is exploring the option of selling its shares to other oil PSUs like ONGC and OIL.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
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