On February 27, 2009, the first CNG filling station was formally handed over to Hemant Karkare's wife Kavita.
Riding high on reversal of fortunes in diesel demand, India's petroleum product sales soared by 5.9 per cent to 7.93 million tonnes in November 2003, a reflection of upbeat industrial activity in the country.
The Indian Navy, which regards itself as the 'net security provider' in the Indian Ocean Region, has also stepped up to the plate, with a warship stationed at all times off the Gulf of Aden for counter-piracy tasks. 91 Indian warships have been deployed in the region since 2008, patrolling high risk areas where piracy was rampant.
ONGC Videsh Ltd, the international arm of the state-owned Oil and Natural Gas Corporation, will take 25 per cent stake in two deep sea oil and gas exploration blocks in Nigeria.\n
Hindustan Petroleum Corporation Ltd will invest Rs 1,040 crore (Rs 10.40 billion) in 2004-05 in its refineries and pipeline projects to attain organic growth, the Lok Sabha was informed on Thursday.
Petroleum Minister Mani Shankar Aiyar will visit Pakistan in May to boost bilateral energy ties and discuss the $4.16 billion Iran-India gas pipeline project.
The government was planning to come up with a new fiscal model giving 'special incentives' for fields that were given out on nomination to ONGC and Oil India, reports Shine Jacob.
The government has allowed ONGC Videsh, the foreign arm of state-owned Oil and Natural Gas Corp, to make investments of up to Rs 300 crore (Rs 3 billion) in oil and gas properties abroad without going to the Cabinet for approval.
India on Wednesday threatened to pull out of the proposed $4.16 billion Iran-India pipeline project over price of natural gas saying Tehran has to price the fuel at rates affordable to industry in India.
TotalEnergies will acquire 25 per cent shareholding in Adani New Industries Ltd -- the firm that houses Adani Group's new energy business -- for an undisclosed amount, the two firms said in separate statements. "TotalEnergies has entered into an agreement with (Adani Group's flagship) Adani Enterprises Limited (AEL) to acquire a 25 per cent interest in ANIL," the French energy giant said.
Senior Bharatiya Janata Party leaders are not on talking terms with expelled leader Jaswant Singh after he refused to resign from the chairmanship of the Public Accounts Committee of the Parliament, Union minister Murli Deora claimed on Friday. The Petroleum and Natural Gas minister, who is heading a high-level delegation to London, said senior BJP leaders, including L K Advani, Sushma Swaraj and Murali Manohar Joshi, are not on talking terms with their former colleague.
In this article, we analyse the performance and prospects of various infrastructure related sectors, including petroleum and natural gas. We have left the real estate sector out of the current analysis
The government has brought back the windfall profit tax on domestically produced crude oil after international prices firmed up while the levy on export of diesel has been cut to nil, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) is now Rs 6,400 per tonne with effect from Wednesday, the order dated April 18 said. At the last revision on April 4, windfall tax on domestically produced crude oil was cut to nil as international oil prices dipped below $75 per barrel.
Gujarat State Petroleum Corporation LNG Limited has roped in Trectebel Engineering for conducting the front-end engineering and design (FEED) study for the former's 6.5 MMTPA (million metric tonne per annum) LNG ((liquefied natural gas) terminal project.
The conversion produces significantly more energy than it requires and results in transportation fuels -- diesel, for example -- that can be blended with existing ultra-low-sulphur diesels and bio-diesels, researchers said.
Deora told Business Standard that a substantial volume of kerosene was also smuggled across the border, since the prices there were much higher. He added the government may have to rework various measures taken so far to curb the menace.
The government has chosen state-run GAIL (India) Ltd over Reliance Industries in setting up a Rs 2,500 crore gas cracker project in Assam.
After natural gas prices, the government looks set to bite the bullet on auto fuel prices, with a panel of ministers scheduled to meet on June 7 to decide on freeing petrol and diesel prices.
Petrol in the national capital costs Rs 68.46 per litre as compared to Rs 53.32 a litre in Pakistan, Rs 61.56 in Sri Lanka and Rs 62.25 in Bangladesh.
Eight infrastructure industries have posted a growth rate of 8 per cent for September on account of good performance by crude oil, steel and electricity sectors.
State-owned Oil and Natural Gas Corp (ONGC) may have won a large oil block in Venezuela but the Petroleum Ministry wants Reliance Industries to join the project to give stability to the venture.
The government has relaxed FDI norms in industries such as civil aviation, petroleum and natural gas and commodity exchanges.
State-owned Indian Oil, Bharat Petroleum and Hindustan Petroleum currently lose Rs 180 crore per day.
Sudan, which had in 2007 defaulted on payment of installments towards the cost of building 741-km pipeline from Khatroum to Port au Sudan, agreed to form a working group to resolve the issue within a month, sources said.
Companies such as ONGC and Reliance have not been able to meet their work commitments for the blocks they had won under the New Exploration Licensing Policy rounds because of a crunch in availability of deep-sea drilling rigs. The official said oil ministry is moving a note for the consideration of Cabinet Committee on Economic Affairs for giving a drilling holiday from January 1, 2008, to December 31, 2010, for 33 blocks awarded in the fifth round of NELP.
The companies that have signed these pacts with the India chapter of the Berlin-based Transparency International include PSU majors such as GAIL (India), Coal India, Oil and Natural Gas Corporation, Steel, Hindustan Petroleum Corporation, Steel Authority of India, National Mineral Development Corporation and Rashtriya Ispat Nigam. In fact, 12 of the 14 companies that signed the pact, did so in the last six months.
Oil and Natural Gas Corporation has decided to sack 64 striking executives. This was stated by the petroleum secretary R S Pandey on Thursday.
Succumbing to the US pressure, India has decided to cut crude oil import from Iran by over 11 per cent this fiscal to 15.5 million tons.
The Public Enterprises Selection Board, which is the government head-hunter, interviewed seven candidates for the post, which fell vacant after Dinesh K Sarraf was elevated as Chairman and Managing Director of ONGC.
Reliance Industries Ltd plans to invest over Rs 4,500 crore (Rs 45 billion) in laying 5,895 km of product pipelines across the country as a precursor to begin the retailing of petrol and diesel.
Petroleum Minister Murli Deora and Chairman of Oil and Natural Gas Corporation R S Sharma are planning a visit to Russia in the first week of next month, hoping the Russian government would give its assent for the proposed acquisition of UK-listed Imperial Energy.
