'The contours of the trade deal need to be reworked now.'
In a strategic move to boost offshore energy exploration and operational efficiency, Oil and Natural Gas Corporation Ltd (ONGC) and Reliance Industries Ltd have signed an agreement to share resources such as supply vessels used in finding and producing oil and gas.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
'That journey across India has changed me forever.'
Responding to comments sought by the Prime Minister's Office on a letter from industrialist Anil Ambani, the ministry last week wrote that the family MoU was clearly against the provisions of the Production Sharing Contract.
The US Coast Guard seized a Russian oil tanker, the Marinera, in the North Atlantic. The crew includes three Indian citizens. Moscow has protested the seizure, calling it a violation of international maritime law and demanding humane treatment of the crew.
In a presentation prepared for the incoming Narendra Modi-government, the ministry listed national oil companies losing focus on domestic exploration as well as legal disputes around signed contracts with private explorers among the five things that went wrong during the United Progressive Alliance regime.
The country's exports rose marginally by 0.61 per cent to $36.56 billion in January, while trade deficit widened to a three-month high of $34.68 billion, government data showed on Monday.
Following a Supreme Court setback, Donald Trump has announced an increase in global tariffs from 10% to 15%, impacting international trade relations and raising concerns about economic repercussions.
The Sports Ministry is keen to bring Formula 1 back to the Buddh International Circuit in Noida in the near future.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
Media has raised the issues that new pricing to benefit Reliance Industries.
Following the seizure, Moscow issued a strong condemnation asserting that no country has the right to use force against vessels lawfully registered under another state's jurisdiction, particularly on the high seas.
NTPC has taken RIL to court seeking performance of a bid by the Mukesh Ambani firm to supply 12 million standard cubic meters per day of gas to its Kawas and Gandhar expansion projects at $2.34 per mmBtu. However, the oil ministry has opposed the same price in case of supplies to be made to Anil Ambani Group firm RNRL on the basis of a private family agreement.
An Air India Express flight bound for Visakhapatnam was cancelled at Gannavaram Airport due to a technical issue detected before takeoff. Passengers included prominent figures like former Vice President M Venkaiah Naidu.
India has protected the interest of domestic farmers and MSMEs by not extending any duty concessions on products across several sectors, including agricultural items such as dairy, as well as chocolates, gold, silver, jewellery, footwear, and sports goods, under the trade pact with Oman.
Russia and China on Saturday condemned the United States airstrikes on Venezuela and the capture of its president, Nicolas Maduro and his wife.
India has advised its nationals to avoid all non-essential travel to Venezuela following the capture of President Nicols Maduro by the US. The Ministry of External Affairs has also asked Indians in Venezuela to exercise extreme caution and restrict their movements.
Several journalists were based in the hotel in downtown Baghdad.
The Oil Ministry has approved the sale of 10 per cent Government holding in consultancy firm Engineers India Ltd, and a public offering is expected in the second half of July.
The Oil Ministry has approved part sale of government's stake in Oil and Natural Gas Corp as well as Indian Oil Crop, a move that could fetch about Rs 24,000 crore (Rs 240 billion) for the Centre this fiscal.
The current price is among the lowest in Asia Pacific.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
Petroleum Secretary M S Srinivasan observed that smaller and more nimble companies are proving formidable and ONGC would have to register exploration successes and strengthen its systems to retain its position in the industry.
India said it is broad-basing and diversifying sourcing of petroleum product to meet market conditions.
Close on the heels of a 70 paise per litre hike in petrol prices, the Oil Ministry is pushing for an increase in diesel and domestic cooking gas LPG prices, even though it is unsure of political support for the unpopular move with the ruling UPA alliance.
'No, India and China were not about to go to all-out war over a few rocks of Galwan.' 'The full picture of what went on at the highest level between two heads of State will not be known for a very, very long time and rightly so,' points out Colonel Anil A Athale, former head of the history division, ministry of defence.
India responds to US President Trump's claim that PM Modi assured him of halting Russian oil imports, stating it is diversifying energy sources to meet market conditions and safeguard consumer interests.
Registered and eligible candidates can download their GATE 2026 from the official website gate2026.iitg.ac.in, using their valid login credentials.
In a draft audit report on the KG-DWN-98/3, or KG-D6, block, the Comptroller and Auditor General said the Directorate General of Hydrocarbons allowed Reliance to hike capital expenditure for developing Dhirubhai-1 and 3, the largest of 18 gas finds in the block, by 117 per cent.
Anil Ambani group on Monday said the oil ministry's interference in marketing and pricing dampened investor interest in India's auction of oil and gas blocks and its chairman had warned the Prime Minister about the same.
The Indian government is dealing with the matter having in mind the national interests of this country in the first place, he said.
The oil ministry is in fact of the view that the government should bear the entire burden of the revenue losses incurred by the oil marketing companies, after the increase in prices is effected.
While Moily refused to elaborate on the reasons for the deferment, sources said his ministry had raised concerns over pricing of IOC shares.
India's crude oil imports from Russia strengthened in the first half of October, reversing a three-month slide in arrivals seen during July-September as refineries were back on full stream to meet festive demand, according to ship tracking data.
'Incidentally, Prime Minister (Modi) and President Trump have also spoken on the phone on eight occasions during 2025, covering different aspects of our wide-ranging partnership'
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