US shale oil would act as an alternative to India's heavy dependency on Russian crude, which is currently facing sanctions.
Puri said Pakistan was a country in "terminal decline" periodically using terrorism as an instrument of state policy.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
With India making it clear that the US doesn't have enough spare capacity for crude oil, Washington, DC, now wants India to sign fixed-term liquefied natural gas (LNG) contracts with American producers, multiple sources in the know said.
Murli Deora, Minister for Petroleum and Natural Gas, will be leaving for Pakistan on Tuesday. India and Pakistan's relation will get unprecedented boost if talks on Turkmenistan-Afghanistan-Pakistan-India natural gas project proceeds on a fast track, said a high-level source in the Indian Ministry of Petroleum and Natural Gas. The biggest issue in realising the TAPI pipeline project is the issue of security through Afghanistan.
'The petrol lobby is very rich and strong.'
70-year-old Reddy, who was made the petroleum minister in January 2011, was shifted to the Ministry of Science and Technology and Earth Sciences in the Cabinet reshuffle on October 28.
'Trump is good news for us. Energy poverty is real, and fossil fuels are the answer.'
The government has slashed by up to a fifth the supplies of cheaper gas to city gas entities that retail CNG to automobiles, increasing their dependence in costly imported fuel. Buying costly imported gas to make up for the shortfall should result in a hike in CNG price but given the ensuing assembly elections in Maharashtra, that may be put off for now. Indraprastha Gas Ltd and Mahanagar Gas Ltd in regulatory filings stated that supplies of domestically produced gas, which was available at a capped rate which is half of the imported price, has been cut.
The ministry stated that for vehicles designed for E10 and calibrated for E20, mileage may drop by just 1-2 per cent, while in other vehicles, it could be around 3-6 per cent.
'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
State-owned Oil and Natural Gas Corporation (ONGC) has cancelled the bids received for its Daman upside gas development project off the western coast due to high price quotes, sources said. The project is crucial to ONGC's strategy of ramping up gas production from its shallow-water fields off India's west coast. Once completed, the project would lead to nearly doubling of current gas production of 4-5 million standard cubic metres per day.
India's purchase of US crude oil has picked up in 2025 and could easily double their previous levels, government officials said on Wednesday. The surge comes in the wake of the then-incoming Donald Trump administration's announcement that it would consider hiking tariffs on a reciprocal basis, and pushed some countries, especially those with large trade surpluses with the US, to buy more of its energy.
Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
Sumitra Mahajan on Tuesday took over as the minister of state for petroleum and natural gas.
Retail inflation declined to over six-year low of 2.1 per cent in June, nearing the RBI's comfort zone, on account of subdued prices of food items, including vegetables, driven by widespread monsoon.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
The Congress party has accused Union Minister Nitin Gadkari of conflict of interest, alleging his sons' companies have benefited from the government's ethanol blending policy. The BJP has rejected the allegations.
Also, as part of the IDY celebrations, entry to all ASI sites will be "free of cost" for the public on June 21, the ministry of culture said in a statement on Friday.
ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.
RIL and Shell ceased production from the fields in 2016, and ONGC has already been using Tapti infrastructure for its other fields for better optimisation.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
President A P J Abdul Kalam has given his assent to the Petroleum and Natural Gas Regulatory Board Act that envisages having a regulator for India's oil and gas sector, a petroleum ministry official said on Tuesday.
Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants.
Mandaviya, Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, and Indian Olympic Association President PT Usha unveiled the ceremonial outfit, playing kits, performance shoes and travel gear for the Indian team.
Re-instatement of 5% custom duty on crude imports will help.
Leading oil companies dedicated the second day of India Energy Week (IEW) 2025 to announcing strategic deals and business agreements across the supply chain - from sourcing more crude oil supply to deploying more domestic ships and building gas distribution capacity.
Dilip Shanghvi's Sun Oil & Natural Gas, signed a deal for the transfer of Interlink Petroleum's interest in the Modhera and Baola fields.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
For the first time, the government is likely to dip into the Oil Industry Development Fund (OIDF) to finance part of its fertiliser subsidy programme for 2025-26, according to official sources. The finance ministry has accounted for Rs 23,000 crore in the FY26 Budget as net additional resources to be drawn from dedicated reserve funds, including the OIDF, the Agriculture Infrastructure and Development Fund, and the Universal Service Obligation Fund.
Minister of Petroleum & Natural Gas Murli Deora has welcomed the General Budget for 2010-11 presented by the finance minister on Friday in the Lok Sabha.
Prices of natural gas, which is used to produce fertiliser and generate electricity and is also converted into CNG for use in automobiles as fuel and cooking gas for households, are set every six months -- on April 1 and October 1 each year.
Oil Minister M Veerappa Moily on Friday said petroleum ministers are "threatened" by import lobbies not to take decisions that will cut India's $160 billion oil imports.
India's major imports from the US include crude oil and petroleum products, gold and jewellery, plastics, aircraft, and electrical machinery and components. The key exports to the US comprise pharmaceuticals and biologicals, telecom equipment, precious and semi-precious stones, petroleum products, gold and precious metal jewellery, and ready-made garments.
Dividends paid by central public-sector enterprises (CPSEs) in 2024-25 are set to be the highest ever, with the government receiving 69,873 crore so far. A government official said he was hopeful the receipts would touch 70,000 crore in the last week of the financial year.
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
The case was registered following a complaint filed by KP Sumesh, a local Communist Party of India leader, seeking legal action against Gopi for allegedly misusing an ambulance to reach the Pooram venue flouting police restrictions.
'Geopolitically and diplomatically it's a very difficult situation for India.'
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