India's oil major ONGC has signed a memorandum of understanding with Russia's Gazprom, paving the way for their possible joint bidding for global energy assets.
Close on the heels of initiating a dialogue with Iran and Myanmar on importing gas through onland pipelines, Petroleum Minister Mani Shankar Aiyar will soon visit Turkmenistan and Afghanistan to explore the possibility of bringing natural gas from Ce
The government has allowed Reliance Industries Ltd and Mangalore Refineries and Petrochemicals Ltd to sell kerosene outside the public distribution system, Petroleum Minister Mani Shankar Aiyar said on Thursday.
The group of ministers' meeting on Tuesday on raising natural gas price for fertilizer and power units and setting up a regulator for the oil sector remained inconclusive.
Petroleum Minister Mani Shankar Aiyar will present options, including raising prices of LPG and kerosene for the rich, to bridge the vast gap between the cost of fuel and their current retail price
India will step up efforts to find new oil and gas fields as the country's largest oil producer Oil and Natural Gas Corporation expects output from its existing fields to drop sharply in next few years.
Public sector oil companies lost Rs 9800 crore (Rs 98 billion) in the first six months of 2004-05 fiscal for selling petroleum products below the import cost, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
Petroleum ministers from major oil producing countries will meet in New Delhi on January 6 as part of India's initiative to tackle the surging global oil prices, Petroleum Minister Mani Shankar Aiyar told the Rajya Sabha on Wednesday.
BJP's women's wing on Wednesday sent a saffron saree to Union Petroleum Minister Mani Shankar Aiyar for his reported remarks that women should cut down the purchase of sarees and going to the cinema.
The government will offer 20 oil and gas exploration blocks in the fifth round of bidding under the New Exploration Licensing Policy in January 2005, Petroleum Minister Mani Shankar Aiyar said on Friday.
India on Wednesday said the $4.16 billion Iran-India gas pipeline passing through Pakistan will have to be considered as a part of wider economic and trade cooperation between New Delhi and Islamabad.
The government on Monday said it would overcome the problem of LPG shortage in the country by Diwali.
Public sector oil firms will purchase bio-diesel extracted from plants like Jatropha for mixing in diesel, at Rs 25 a litre beginning January 1.
Ahead of Pakistan Prime Minister Shaukat Aziz's visit to New Delhi later this month, India has formally asked Pakistan to remove diesel from its negative list and permit its imports from Gujarat and Haryana through land and sea routes. \n
India on Tuesday said its vote against Iran's nuclear plans will not affect the prospects of the proposed $7.4 billion Iran-Pakistan-India gas pipeline and its $22 billion deal to import LNG from Tehran.\n\n
petroleum minister has announced that fuel prices would not be hiked and talks with allies on the issue were on.
China on Wednesday said it was open to Indian oil firms investing in oil and gas exploration in the Communist country.
Diesel to cost Rs 2 per litre more, but there will be no increase in LPG and kerosene prices.
Gail India has protested Petroleum Minister Mani Shankar Aiyar's plans to open up laying of natural gas pipelines to the private sector, saying competition cannot protect consumer interest.
The Union government on Thursday ruled out any increase in the prices of petrol and diesel despite the surge in global crude prices.
Concerned over the huge losses to oil PSUs including Indian Oil Corp in the absence of suitable revision in petro product prices, Petroleum Minister Mani Shankar Aiyar on Monday said he would raise the issue at the Union Cabinet.
Aiyar might visit Mumbai on Wednesday night and take stock of the situation.
The government on Tuesday categorically said that the United States had not any objections on the Iran-Pakistan-India gas pipeline project with New Delhi.
Petroleum Minister Mani Shankar Aiyar on Tuesday denied any differences within the government on the $4.16-billion Iran-Pakistan-India gas pipeline and said New Delhi was going ahead with the project as scheduled.
The party also wanted an immediate restoration of Veer Savarkar's plaque at the Cellular Jail memorial.
The Veer Savarkar issue rocked both Houses of Parliament for the third consecutive day on Thursday as the Shiv Sena and Bharatiya Janata Party members demanded an apology from Petroleum Minister Mani Shankar Aiyar.
The MPs took the Swarna Shatabdi Express to Amritsar and will cross the border at the Wagah check-post in the afternoon.
Petroleum Minister Mani Shankar Aiyar on Thursday held discussions with chief executives of public sector oil companies to explore the possibility of merging BPCL and HPCL with ONGC and OIL with IOC to create two oil behemoths.
The government said on Wednesday that it was considering public sector oil companies' request for hiking security deposit on LPG cylinders from Rs 650 to Rs 1000 but clarified that there was no freeze on issuance of new connections.
India's Petroleum Minister Mani Shankar Aiyar has predicted that the 'oil bubble' will burst soon.\n\n
Pakistan, "for the time being", does not want to import diesel from India either through land or sea route, owing mainly to its "higher rates".
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