ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.
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.
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.
Re-instatement of 5% custom duty on crude imports will help.
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.
Dilip Shanghvi's Sun Oil & Natural Gas, signed a deal for the transfer of Interlink Petroleum's interest in the Modhera and Baola fields.
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.
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.
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.
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.
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.
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.
State-owned Oil & Natural Gas Corp's (ONGC) Krishna Godavari basin well that had been leaking natural gas for over two months now, has stoped flowing gas, the government said.
Mansingh, a 1970-batch IAS officer from Gujarat cadre, was the number one choice for the post of chairman of PRB at the screening done by the Search Committee headed by Planning Commission Member (energy) Kirit Parikh, top officials said.
Minster of Petroleum and Natural Gas Murli Deora on Monday commissioned the first stretch of the Dahej - Panvel - Dabhol pipeline from Dahej to Surat.
Tribunal's direction came during the hearing of a petition filed by Anil Ambani group firm Reliance Fuel Resource Ltd, seeking license for laying pipelines from KG Basin to its upcoming power plant at Dadri, Utter Pradesh. The board had directed Reliance Fuel to apply afresh for a license to build a pipeline from Kakinada to Dadri as there were no guidelines at that time. It asked the company to apply in compliance with new regulations.
State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
After failing to convince states to keep petroleum products within the ambit of the proposed goods and services tax (GST), the Centre has finally relented. It has agreed to the proposal of the empowered committee of state finance ministers to keep petroleum products like crude, motor spirit, aviation turbine fuel (ATF) and high-speed diesel out of GST.
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.
Oil and Natural Gas Corporation has discovered natural gas reserves in Krishna Godavari basin off the Andhra coast, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Tuesday.
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.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
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.
The government will end Gas Authority of India's monopoly over laying natural gas pipelines by allowing private sector firms in gas transportation business, Petroleum Minister Mani Shankar Aiyar said on Thursday.
The group of ministers' meeting on Tuesday on raising natural gas price for fertilizer and power units and setting up a regulator for the oil sector remained inconclusive.
Technical bids opened today for Mallavaram-Vijaipur line, winner in three weeks.
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, were on Friday hiked by a steep 40 per cent to record levels, in step with global firming up of energy rates. The rate paid for gas produced from old fields, which make up for about two-thirds of all gas produced in the country, was hiked to $8.57 per million British thermal units from the current $6.1, according to an order from the oil ministry's Petroleum Planning and Analysis Cell (PPAC). Simultaneously, the price of gas from difficult and newer fields like the ones in Reliance Industries Ltd and its partner bp plc operated deepsea D6 block in KG basin, was hiked to $12.6 per mmBtu from $9.92, the order said.
Reliance Industries, India's largest company by market capitalisation, and GAIL India, the largest transporter and marketer of gas, have sought licences to sell natural gas to households and vehicles across 60 cities in India.
The government may soon raise prices of natural gas produced by state-owned ONGC and Oil India by as much as 30 per cent, Petroleum Secretary S Sundareshan said on Monday.
Reliance Industries has sought tripling of its KG-D6 gas price from April 1, 2014 after the current below market rate of USD 4.205 per mmBtu expires.
India may ink an agreement with Iran in June this year on the import of natural gas through a $4.5 billion pipeline transiting through Pakistan.
The Eleventh Plan working group report, however, was based on projections of the directorate general of hydrocarbons (DGH).
India's crude oil production fell 2.3 per cent in August but natural gas output rose by more than a fifth on the back of output from KG-D6 fields of Reliance-BP, government data released on Wednesday showed. Crude oil production dropped to 2.51 million tonnes in August as output from fields operated by state-owned Oil and Natural Gas Corp (ONGC) dipped. India is 85 per cent dependent on imports to meet its oil needs and the government has been for long looking at ways to raise the domestic output so as to reduce import dependence.
