ONGC demands certain incentives from the Andhra Pradesh government to go ahead with the Kakinada refinery project
Government said on Tuesday it was commited to Oil and Natural Gas Corporation's mega investment plans in petrochemical projects and special economic zone at Mangalore and there was no going back on it.
Petrol prices in India are costlier than the United States but cheaper than European countries, Minister of State for Petroleum and Natural Gas R P N Singh said on Tuesday.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
If the EC decides to put on hold a gas price revision for RIL, it would set a precedent for pricing decisions of the government and policy decisions taken but undergoing procedural delays.
The irony, of course, is that even the suggestion that the petroleum and natural gas ministry thought was practical and workable has few takers in the government. Among the many suggestions on petroleum product prices, the Chaturvedi Committee had recommended dual pricing of diesel.
Area residents and environmental groups have resisted the coal power plant ever since it was originally proposed in 2006 due to worries about land clearance and pollution
LN Mittal is getting a senior bureaucrat from the ministry of petroleum and natural gas to run his first-ever venture in the refining business, the Rs 18,919 crore (Rs 189.19 billion) Bhatinda refinery.
Qatar is the world's richest country in terms of per capita income.
The Group of Ministers, set up to look into the bifurcation of Andhra Pradesh, met on Monday for discussion with Union ministry secretary-level officers.
Between 2004-05 and 2007-08, FDI in services leapfrogged to $6.61 billion from $444 million, an official statement said. The real estate sector which was thrown open in 2004-05 saw the FDI picking up slowly in the initial two years, but grew substantially in 2007-08 to $2.17 billion.
Dharmendra Pradhan lays bare the next course of action for his ministry and says RIL will have to pay the same price at which it produced the volumes.
Seeing the potential of shale gas, Reliance Industries moved early to secure a foothold in the Marcellus shale reserves in the US.
The government will sell its remaining 26 per cent stake in IBP Co Ltd through a public offer this fiscal besides offloading 10 per cent equity in Oil and Natural Gas Corporation and Gail (India) Ltd to raise Rs 15,000 crore.
Home minister P Chidambaram, who briefed reporters on the Cabinet decisions, said in his opinion there was no bar on the government from announcing a price cut even after polls are announced. State-owned fuel retailers Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum are selling petrol at almost break-even point while they make Rs 3.26 a litre profit on diesel sales.
India on Wednesday offered Qatar a 10 per cent stake in Petronet LNG Ltd to get the worlds largest liquefied natural gas exporter to sell 18 more LNG cargoes this year and agree on a long-term supply deal for meeting fuel needs of beleaguered Dabhol power plant.
Annapurna Devi, Subhas Sarkar and Rajkumar Ranjan Singh will be the new ministers of state for education.
The foundation laying ceremony of Oil and Natural Gas Corporation's petrochemical complex in Mangalore was postponed due to heavy rains.
Petroleum Secretary M S Srinivasan observed that smaller and more nimble companies are proving formidable and ONGC would have to register exploration successes and strengthen its systems to retain its position in the industry.
Only 48.3 per cent of the rural households used LPG, while the figures were much higher in urban areas at 86.6 per cent, according to a NSO report.
Despite the high oil prices, growth in energy demand will continue globally, but there is need to reorient the approach in meeting the challenge, Minister for Petroleum and Natural Gas Murli Deora said on Sunday.
Eight Indian companies, including Reliance Industries, Bharti Tele-ventures and software giants Infosys and Wipro have made it to the Forbes A-List featuring 400 most attractive companies for investors.
Private airlines Jet Airways and Kingfisher owe state-owned oil firms over Rs 1,774 crore (Rs 17.74 billion) in unpaid jet fuel bills, Minister of State for Petroleum and Natural Gas Jitin Prasada said on Thursday.
India hopes to conclude the acquisition of UK-listed Imperial Energy in 4-5 weeks, Petroleum Minister Murli Deora said on Friday. OVL is now awaiting approval of Kremlin to takeover the company, which has assets in Tomsk region of the western Siberia in Russia.
Senior Congress leader Oscar Fernandes, who is already cabinet minister, will be without any porfolio.
India's crude oil production rose by 3.2 per cent in May on back of better performance by state- owned oil major Oil and Natural Gas Corp (ONGC), while refinery output remained unchanged.
95% of investments in domestic sector, won't pay special dividend: Raha.
Cairn India has received a government approval that will enable it to proceed with the development of a pipeline to transport oil from its flagship fields in Rajasthan.
It was on the occasion of Netaji Subhash Chandra Bose's birth anniversary.
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