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.
A looming global shortage of diesel in Europe presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter.
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
The government is willing to increase its contribution to the subsidy bill on retail sale of oil products
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
GX Technology case led to police cases against Sibal.
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.
During December 2011, the core sectors recorded a growth of 3.1 per cent against 6.3 per cent same period previous year.
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.'
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.
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 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.
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.
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.
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.
The committee said whatever benefit RIL received in terms of the migrated gas is liable to be returned to the government.
The wholesale price-based inflation eased to 15.18 per cent in June on lower prices of manufactured and fuel items, even though food articles remained costly. The Wholesale Price Index-based inflation was at a record high of 15.88 per cent last month and 12.07 per cent in June last year. The WPI inflation in June has bucked the three-month rising trend but remained in double-digit for the 15th consecutive month beginning April last year.
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 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.
State-owned oil firms such as ONGC and IOC will invest over Rs 1.11 lakh crore in the next fiscal year starting April as they supplement the government's massive spending programme to spur economic growth. Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC), GAIL (India) Ltd, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Oil India Ltd (OIL) will together make a 7.4 per cent higher capital expenditure in the 2022-23 fiscal (FY23). The capex spending of Rs 1.11 lakh crore in 2022-23 compares with a revised estimate of Rs 1.04 lakh crore for the current fiscal year that ends in March, according to Union budget documents.
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.
On February 27, 2009, the first CNG filling station was formally handed over to Hemant Karkare's wife Kavita.
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 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.
This is the highest any Indian company has been ranked on the Fortune Global 500 list.
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
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.
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.
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.
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 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.
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.
