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.
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.
India said it is broad-basing and diversifying sourcing of petroleum product to meet market conditions.
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.
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.
Media has raised the issues that new pricing to benefit Reliance Industries.
The Indian government is dealing with the matter having in mind the national interests of this country in the first place, he said.
'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'
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.
India said it is closely monitoring the evolving situation in Venezuela and reaffirmed its support for the well-being of people of the country.
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.
Baghaei also alleged that recent unrest in Iran was fuelled by foreign interference, claiming riots were triggered by "very evident" interventionist remarks by US and Israeli officials.
Several journalists were based in the hotel in downtown Baghdad.
The Indian economy is likely to grow at 7.4 per cent in 2025-26, up from 6.5 per cent in the previous fiscal, mainly on account of better performance of manufacturing and services sectors, as per the government data released on Wednesday.
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.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
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.
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.
India's exports jumped by 19.37 per cent to $38.13 billion in November, while imports dipped by 1.88 per cent to $62.66 billion, according to government data released on Monday.
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 Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
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 has called for a ceasefire, release of all hostages, and peaceful resolution of the Israel-Hamas conflict through dialogue and diplomacy. The Centre informed Parliament that India welcomed the agreement on the first phase of the Gaza Peace Plan. The article also covers India's energy sourcing strategy and the release of Indian fishermen by Pakistan.
It advises about display of boards in various workplaces such as lobbies, canteens, cafeterias, meeting rooms etc., to raise awareness on harmful consumption of hidden fats and excess sugar in various food items.
The trade relationship between India and the United States has been strained by the imposition of 25% tariff by the US on Indian goods.
Wholesale price inflation (WPI) came in at (-) 0.32 per cent in November, driven by an uptick in prices of food articles like pulses and vegetables on a month-on-month basis, government data showed on Monday.
Reddy, who moved from urban development to the oil ministry, got down to tackling the task straightaway with a brainstorming session with senior ministry officials on Thursday.
India's merchandise exports grew in the first three weeks of November compared with the same period last year, according to preliminary government data, Commerce and Industry Minister Piyush Goyal said on Tuesday. The uptick comes despite globa
The oil ministry said on Thursday that any refiner laying a pipeline to carry oil products from ports or building one longer than 300 km must allow other companies to share the facility.\n\n
China has reacted positively to Russian President Vladimir Putin's visit to India, emphasizing the importance of trilateral ties between China, Russia, and India for regional and global peace and stability.
Putin's State visit will centre on fixing the huge India-Russia trade imbalance, with both sides pushing to lower duties, ease non-tariff barriers, and seal a landmark mobility pact to send more Indian workers to Russia.
India and Russia are poised to sign multiple agreements to bolster cooperation in various sectors, including trade and healthcare, during Russian President Vladimir Putin's visit to New Delhi. Discussions will also address the Ukraine conflict and efforts to increase Indian exports to Russia.
'America is adopting the typical 'my way or the highway'/'Either you are with us or against us' stance.' 'This is a policy India is not going to accept.'
The Union health ministry is urging all ministries and departments to display 'oil and sugar boards' in common areas to raise awareness about hidden fats and sugars in everyday foods and promote healthier lifestyles.
The top five decision makers in the oil ministry collectively have around 20 months of experience in the sector even as India, the third largest consumer of oil in Asia, struggles to keep pace with oil prices, which have doubled in the last one year.
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