BP for extending marketing, pricing freedom to gas fields

Last Updated: Friday, September 11, 2015, 22:07

BP Plc, Europe's second-largest oil company, Friday made a case for extending the marketing and pricing freedom given to operators of marginal and small oil and gas fields to conventional fields like KG basin D6 block.

ONGC-RIL gas siphoning row: HC disposes of PSU's plea

Last Updated: Thursday, September 10, 2015, 22:22

Delhi High Court today disposed of ONGC's petition accusing RIL of "deliberately disgorging" natural gas worth Rs 30,000 crore from the PSU's well in the Krishna-Godavari (KG) basin, by asking the Centre to take a decision once it gets the report of an expert panel set up to examine the issue.

RIL tests presence of natural gas in contentious discoveries

Last Updated: Sunday, September 6, 2015, 10:41

RIL last week completed Drill Stem Test (DST) on the Dhirubhai-29 (D-29) gas discovery that established presence of hydrocarbon, sources privy to the development said.

High Court orders Ola to run only CNG cabs in Delhi

Last Updated: Thursday, September 3, 2015, 19:12

The Delhi High Court on Thursday said Ola cabs, an app-based taxi service, can run only on Compressed Natural Gas (CNG) fuel in the national capital.

European Commission approves Shell's purchase of BG Group

Last Updated: Wednesday, September 2, 2015, 23:09

The European Commission gave its approval Wednesday of Royal Dutch Shell's planned acquisition of Britain's BG Group in a deal that must also be cleared by Australian and Chinese regulators.

Govt to auction 69 oil & gas fields; Rs 70,000 crore to be monetised

Last Updated: Wednesday, September 2, 2015, 20:36

In a 'paradigm' shift, government will auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms including pricing and marketing freedom.

Petronet to raise Rs 1,000 crore through bonds issue

Last Updated: Tuesday, September 1, 2015, 18:57

Petronet LNG Ltd, India's biggest liquefied natural gas importer, will raise Rs 1,000 crore through bonds issue this fiscal mostly to pay off its existing debt.

Govt to fix formula for premium on gas pricing soon: Pradhan

Last Updated: Friday, August 28, 2015, 19:26

Petroleum Minister Dharmendra Pradhan on Friday said the government would soon finalise a formula to calculate premium on gas pricing for difficult blocks.

ONGC gets one-year extension for Vietnam block

Last Updated: Thursday, August 27, 2015, 16:03

State-owned Oil and Natural Gas Corp (ONGC) today said it has received a one-year extension to explore in a Vietnam oil block in the contested waters of the South China Sea.

OVL seeks exploration licence extension for Vietnam oil block

Last Updated: Tuesday, August 25, 2015, 17:59

OVL has applied to the Vietnamese authorities for a third extension of the exploration licence for Block 128 to maintain India's strategic interest in the South China Sea, a company official said.

US crude down 4% to hit 6-1/2-year low on surprise stock build

Last Updated: Thursday, August 20, 2015, 08:59

US crude oil slumped over 4 percent on Wednesday to hit a 6-1/2-year low and almost break below $40 per barrel, as a huge unexpected stockpile build in the United States reinforced concerns about a growing global oil glut.

Gas prices to dip below $4.2/unit from October 1

Last Updated: Sunday, August 16, 2015, 21:14

Natural gas prices in India may, from October 1, fall below USD 4.2 per unit, a rate that was used last year to devise a new pricing formula to incentivise domestic exploration.