Govt examining CAG report on irregularities in ONGC hiring rig

Last Updated: Monday, March 16, 2015, 15:22

The government is examining CAG allegations of irregularities in ONGC hiring a deep sea drilling rig from Reliance Industries and will take appropriate action, Oil Minister Dharmendra Pradhan said on Monday.

OVL in talks to acquire stake in 2 Siberian oilfields

Last Updated: Wednesday, March 11, 2015, 15:53

While the Minister did not name the fields, sources said OVL was in talks for a stake in Vankor and Yurubcheno-Tokhomskoye fields.

Iraq predicts oil will rise to $64-65 per barrel

Last Updated: Sunday, March 1, 2015, 23:47

Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to reach USD 64 or USD 65 per barrel.

Odisha to get more funds in Finance Commission: Pradhan

Last Updated: Sunday, March 1, 2015, 20:15

Refuting allegations that Odisha would lose revenue following the recommendations of the 14th Finance Commission, union Petroleum Minister Dharmendra Pradhan said on Sunday that it would get about Rs.8,000 crore more funds per annum compared to the 13th commission allocations.

Govt identifying small oil fields for auction

Last Updated: Friday, January 16, 2015, 21:59

The government is identifying the small and marginal oil and gas fields it plans to auction in coming months to boost domestic production, Oil Minister Dharmendra Pradhan said Friday.

Govt clears 30 oil & gas discoveries for production: Pradhan

Last Updated: Monday, January 12, 2015, 17:00

Ending months of logjam over discoveries mired in contractual disputes, the government has cleared 30 projects of firms like Cairn India and ONGC to help monetise about 2.6 trillion cubic feet of gas reserves.

Pradhan rings up VIPs with request to give up subsidised LPG

Last Updated: Saturday, January 10, 2015, 18:47

Keen to ensure that the subsidised fuel reaches only those needing it, Pradhan surrendered his subsidised LPG connection soon after becoming a minister and has since then been buying gas at market rate.

Govt looks at divestment in oil PSUs, new subsidy sharing way

Last Updated: Thursday, January 8, 2015, 18:59

With disinvestment in ONGC stuck due to subsidy woes, the government is looking at selling stake in other oil PSUs like Oil India Ltd (OIL) and gas utility GAIL India to meet its revenue targets.

DBT for LPG world's largest direct benefit transfer scheme

Last Updated: Thursday, December 25, 2014, 19:49

The ambitious scheme of giving cash subsidy on cooking gas directly to consumers has become the world's largest direct benefit transfer with 2.5 crore households getting about Rs 550 crore since November 15.

Brent edges up toward $65, but Saudi stance on output curbs gains

Last Updated: Thursday, December 11, 2014, 10:29

Brent crude ticked higher on Thursday but remained below $65 per barrel, and not far above five-year lows hit in the previous session, with the market`s bearish tone largely intact.

Oil Ministry may dip into RIL incremental gas price hike revenue account

Last Updated: Sunday, December 7, 2014, 12:28

Government may dip into Reliance Industries' incremental gas price hike revenue, accruing in a pool account, to recover its dues in the wake of the contractor failing to meet certain KG-D6 output targets.

Pradhan for umbrella statutory body on oil & gas safety norms

Last Updated: Wednesday, December 3, 2014, 22:14

Pitching for an umbrella statutory body to formulate quality and safety policies for oil & gas entities, Oil Minister Dharmendra Pradhan Wednesday said the current framework of having multiple agencies is like a "khichdi".