Australia on Tuesday invited Indian companies to take part in exploration of natural gas but expressed inability to supply LNG to India in the short term.
The north-eastern states are keen to have a proposed gas pipeline from Myanmar routed through the region as they believe the project could bring about a development windfall.
The price of the Indian basket of crude oil touched an all-time high of $75.30 per barrel on Thursday, the latest day for which data are available, sending alarm bells ringing in the government.
The average price of Indian basket of crude oil during 2007-08 (upto August) has increased to $68.34 per barrel as compared to 62.46 dollars a barrel during 2006-07.
Kazakhstan will give ONGC Videsh Ltd an oil block in the Caspian Sea.\n\n
The strike had threatened to cripple aviation refuelling and refinery operations, oil and gas production and auto fuel as well as domestic cooking gas supplies.
Launching a major global initiative for attracting foreign investment in the hydrocarbon sector, India on Monday held a roadshow in London for auctioning 55 oil and gas exploration blocks.
India-born billionaire Lakshmi N Mittal will invest Rs 3,200 crore (Rs 32 billion) in taking 49 per cent stake in Hindustan Petroleum Corporation Ltd's $3 billion Bhatinda refinery.
Mittal said his steel plants were getting gas at no less than $6 per million British thermal unit (mBtu), much lower than the $4.33 per mBtu price proposed by RIL.
The United Progressive Alliance government on Thursday announced slashing petrol and diesel prices by Rs 2 and Re 1 per litre, respectively, with effect from midnight on Thursday -- as part of measures to tame soaring inflation.
India expects to attract at least $4 billion of investment in oil and gas hunt in the seventh round of auction of acreage under New Exploration Licensing Policy (NELP) which was launched on Thursday.Petroleum Minister Murli Deora announced the offer of 57 oil and gas blocks - nine in shallow water, 19 in deep-sea and 29 onland, in NELP-VII, bids for which will close on April 11, 2008.
The petroleum ministry's call for an immediate Re 1 cut in excise duty on diesel has been rejected by Finance Minister P Chidambaram.
Indian Oil Corporation wants to set up a petrochemical plant in Yemen provided it is allocated a gasfield, a senior company official said on Friday.
Petroleum Minister Murli Deora on Friday said the government would wait for international crude prices to stabilise before announcing any cuts in domestic petrol and diesel prices.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), is in talks to acquire stakes in two oil blocks in Sudan, a nation which is the Indian flagship is largest overseas oil producing base.
The woman made her threat as the minister ended answering questions on his recent visit to China along with senior officials of his ministry, ONGC and other agencies.
Minster of Petroleum and Natural Gas Murli Deora on Monday commissioned the first stretch of the Dahej - Panvel - Dabhol pipeline from Dahej to Surat.
The first stretch of Dahej-Panvel-Dabhol pipeline, which will feed natural gas to the beleaguered Dabhol power project in Maharashtra, has been commissioned.
There is no question of the US or any other country pressurising India on the proposed Iran-Pakistan-India gas pipeline project, Lok Sabha was informed on Thursday.
The uncertainty over $7 billion Iran-Pakistan-India pipeline plan has prompted India to look at the Turkmenistan-Pakistan-Afghanistan pipeline project to meet its growing energy requirements
Iran on Thursday made no firm commitments of honouring the $22-billion deal to export LNG to India but said will look at "ways" for early implementation of the two-year-old contract.
Prime Minister Manmohan Singh laid the foundation stone of the Rs 5460.61 crore (Rs 54.6 billion) Assam Gas Cracker project on Monday, now known as Brahmaputra Cracker and Polymer Ltd.
India has asked Pakistan to waive the $200 million transit fee a year for allowing passage of a pipeline carrying natural gas from Iran.
With volatile international oil prices costing the country $43 billion in import bill, energy-hungry India has called for forging enduring partnerships between oil producing and consuming countries to contain the effect of surging oil prices.
Petrol and diesel prices are unlikely to be hiked in the near future, with Finance Minister P Chidambaram agreeing in-principle to share a third of the revenue loss that state-run oil firms incur on sale of fuel
The government on Wednesday launched a new marker system to detect adulteration of kerosene in petrol and diesel.\n\n
Participants included members of the House Caucus on India and Indian Americans.
CNG dealers in Mumbai, Thane and Navi Mumbai region have threatened to go on strike from midnight of March 14 on the issue of dealer margin being given to them by the oil PSU's.
Officers of state-owned oil companies, who late last night deferred their proposed indefinite strike by three weeks, on Tuesday dropped the strike plan completely after a meeting with Petroleum Minister Murli Deora.
The government on Wednesday broadly hinted about a hike in petrol and diesel prices, saying although it has kept retail prices unchanged it cannot do so for long given the rise in crude oil rates.
A divided party -- not the quashing of the Adarsh report -- will spell doom for the Congress in Maharashtra, argues Neeta Kolhatkar.
India is likely to sign a $145 billion deal by June to import natural gas from Iran through the proposed Iran-Pakistan-India pipeline after Tehran lowered the sale price by 30 per cent.
ONGC confirmed on discovering natural gas in KG basin off the Andhra Pradesh coast and Mahanadi basin off Orissa coast, but said the find in KG basin posts 'technological challenges' and it was on looking for a strategic partner.
Petrol and diesel prices in the national capital have been raised marginally following the state government's decision to levy sales tax on the two auto fuels.
The government on Friday ruled out an immediate increase in petrol and diesel prices in line with rise in international oil prices.
The foundation laying ceremony of Oil and Natural Gas Corporation's petrochemical complex in Mangalore was postponed due to heavy rains.
Supply of the much-needed gas to Dabhol is set to be delayed again. The reason: shortage of pipes required to build the Dahej-Uran pipeline which will feed the gas to the plant.
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