The post fell vacant after incumbent Prasad Dasgupta took early retirement. Dasgupta's five-year term was to come to an end on August 31 and he was eligible for a two-year extension till he attained superannuation at the age of 65 in 2012.
Petroleum Minister Mani Shankar Aiyar on Thursday denied having presented to the Cabinet a proposal for raising LPG and kerosene prices.
High courts should replicate for states what the Supreme Court has done for Delhi's environment, says M J Antony.
In a surprise development, S Jaipal Reddy was on Wednesday made the petroleum and natural gas minister in the reshuffle and expansion of the Cabinet, which saw the elevation of three ministers to the Cabinet rank and induction of three new faces.Praful Patel, Shriprakash Jaiswal and Salman Khursheed were promoted as Cabinet ministers while Congress leaders Beni Prasad Verma (Uttar Pradesh), Ashwani Kumar (Punjab) and K C Venugopal (Kerala) were the new inductions.
The government wants to bring down the subsidies on kerosene, LPG and diesel in a way that does not impact the people in a major manner and takes away subsidies from people who do not deserve them.
Minister of State for Petroleum and Natural Gas Jitin Prasada has said state-run oil companies have the freedom to fix petrol prices, but the government will step in if rates shoot up "indiscriminately".
The government is planning a moderate hike of Rs 1-1.50 per litre in the prices of petrol and diesel in view of the rising global crude tags.
Disinvestment secretary Sunil Mitra last month wrote to his counterpart in Petroleum ministry R S Pandey seeking comments on 'public offerings from Government's shareholding' in ONGC and IOC. While government has not allowed IOC and other retailers Bharat Petroleum and Hindustan Petroleum to raise petrol, diesel, domestic LPG and kerosene price in line with the cost, they have not been given the promised compensation.
Eight infrastructure industries grew by 3.5 per cent in August this year, down from 4.4 per cent expansion witnessed in the same month last year.
Petroleum Minister Ram Naik has mooted sale of 12-15 per cent of government equity in oil refiner Indian Oil Corporation and exploration giant Oil and Natural Gas Corporation in the capital markets to shore-up state finances.
A deal with the Assam government, which holds majority stake in the company through Assam Industrial Development Corporation Ltd, is likely by October.
The five companies which topped the list are Reliance Industries Ltd, Oil and Natural Gas Corporation, Indian Oil Corporation, NTPC Ltd and Bharat Petroleum Corporation
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation, is talking to China National Petroleum Corporation, the Chinese national oil company, for a stake in the recently discovered Mulut Basin oilfield in Sudan.
The CII feels the 20-year scheme was introduced to boost domestic industry and provide a platform to Indian industry to compete with their foreign counterparts.
The government is likely to allow Reliance Industries Ltd to sell domestic cooking gas directly to bulk consumers in the country to overcome the problem of glut in LPG during lean season.
The Oil and Natural Gas Corp, which is laying a 741-km long petroleum product pipeline in Sudan, will also build a $1.2 billion oil refinery in the African nation.
The Food Safety and Standards Authority's track-record suggests it is industry-friendly, not pro-consumer.
GX Technology case led to police cases against Sibal.
Hindustan Petroleum Corporation has proposed to shed about 11 per cent of its workforce by offering the surplus staff a VRS, the Rajya Sabha was informed on Tuesday.
A Bill to put in place a regulator for the oil sector will be placed before the Cabinet for approval this month and presented to Parliament during the winter session, Petroleum Minister Mani Shankar Aiyar said.
This is the highest any Indian company has been ranked on the Fortune Global 500 list.
The government is willing to increase its contribution to the subsidy bill on retail sale of oil products
Oil and Natural Gas Corp is spending 93 per cent of its total capital expenditure of Rs 10,850 crore (Rs 108.50 billion) in the current fiscal on its core activities of oil and gas exploration and production, according to its chairman and managing di
Petroleum Minister Ram Naik hinted on Wednesday that fuel prices may come down further if the international crude prices of Brent fall to around $20-22 per barrel.\n\n\n\n
During December 2011, the core sectors recorded a growth of 3.1 per cent against 6.3 per cent same period previous year.
Bharat Petroleum Corporation Limited (BPCL), Bangalore scored a surprise 4-1 win against Oil & Natural Gas Corporation (ONGC), Delhi in the final of the DCB Presents Aga Khan hockey tournament -- 2011, at the Bombay Gymkhana ground, on Saturday evening.
The Supreme Court on Friday granted six weeks time to Mukesh Ambani's Reliance Industries Ltd (RIL) to respond to the final CAG report which found alleged irregularities including in payments made to the contractors on drilling of D6 wells at the Krishna-Godavari basin.
In its petition filed before the Appellate Tribunal for Electricity, IOC, supported by sister public sector firms like ONGC, challenged PNGRB's decision to look into the pricing of the two auto fuels contending that the downstream regulator had no jurisdiction to decide the price.
Oil and Natural Gas Corp, the Cabinet Committee on Economic Affairs has shot down its proposal to acquire a 45 per cent stake in a Nigerian oil and gas field for close to $2-billion saying the deal was 'too risky.'
India has acquired a Russian oil company and bought equity stake in an oil field project in Venezuela through consortium route, the Rajya Sabha was informed on Tuesday.
The committee said whatever benefit RIL received in terms of the migrated gas is liable to be returned to the government.
Besides, it owes an interest of Rs 423.43 crore (Rs 4.23 billion) to IOC, Rs 92.73 crore (Rs 927.3 million) to BPCL and Rs 66.17 crore (Rs 661.7 million) to HPCL.
Delhi may become the first state to move to direct cash pay-outs of subsidies on kerosene sold through the public distribution system (PDS). The petroleum ministry said it has "welcomed" a proposal to this effect from the Planning Commission, which acted on a plan suggested by Delhi Chief Minister Sheila Dikshit.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation, will acquire 11 per cent stake in a 744 million barrel oil field in Sudan for $125.4 million.
According to the Geological Survey of India (GSI) and UP geology and mining directorate reports, gold reserves totalling 2,944 tonnes have been found in the Sona Pahadi and Hardi blocks of the backward Sonbhadra district.
The government is not considering selling equity in Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC), Petroleum Secretary S Sundareshan said on Wednesday.
