Oil Ministry allows ONGC to sell gas from small fields through bids

Last Updated: Monday, April 6, 2015, 16:20

Oil Ministry has allowed national oil companies ONGC and Oil India Ltd to sell any new natural gas supplies from their small and isolated fields through an open tender.

Govt cuts natural gas prices by 8% to $4.66 per unit

Last Updated: Tuesday, March 31, 2015, 16:50

Natural gas prices was Tuesday cut by about 8 percent to USD 4.66 a unit to reflect the softening in international prices, a move that will lower electricity and fertiliser costs.

Slots of 'sacked' independent directors lie vacant at Oil PSUs

Last Updated: Monday, March 23, 2015, 16:09

Months after the BJP government sacked most of the independent directors at top oil PSUs, the boards of blue chip firms like ONGC and GAIL are functioning with most of those positions still lying vacant.

PM Modi to inaugurate Urja Sangam on March 27

Last Updated: Sunday, March 22, 2015, 11:32

Started as Hydrocarbons India Pvt Ltd on March 5, 1965 to carry out exploration and development of the Rostam and Raksh oil fields in Iran and undertaking a service contract in Iraq, OVL today has 36 projects in 17 countries.

DGH to renegotiate fiscal terms of Cairn's Rajasthan block

Last Updated: Sunday, March 15, 2015, 11:16

"We have asked DGH to renegotiate terms with both the contractors, Cairn and Oil and Natural Gas Corp (ONGC)," a senior government official said.

Oil Ministry to give CNG marketing licence

Last Updated: Thursday, March 12, 2015, 17:15

Oil Ministry is looking to wrest powers to give CNG retailing licence from sectoral regulator PNGRB as it has issued draft guidelines detailing eligibility for rights to sell fuel to automobiles.

Oil Ministry to protect ONGC on subsidy payout: Pradhan

Last Updated: Monday, March 9, 2015, 18:39

Oil Ministry is keen to protect state-owned ONGC from subsidy burden in the March quarter as volatility in crude oil prices have taken a hit on its finances, Petroleum Minister Dharmendra Pradhan said today.

Over 81% of LPG consumers join PaHaL scheme

Last Updated: Wednesday, March 4, 2015, 21:34

More than 81 percent of the 14.5 crore LPG consumers have joined a scheme to get cash subsidy in their bank accounts, the oil ministry said Wednesday.

Petronet CEO not to get extension; Oil Min looks for new CEO

Last Updated: Wednesday, March 4, 2015, 17:54

The Oil Ministry has decided not to extend tenure of Petronet LNG Ltd's CEO A K Balyan till his superannuation in July 2016 and has instead begun search for the new head of the India's largest liquefied natural gas (LNG) importing firm.

IOC director-designate suspended over info leak

Last Updated: Monday, March 2, 2015, 18:36

State-owned Indian Oil Corp's (IOC) director (R&D)-designate Debangshu Ray has been suspended for allegedly leaking confidential information to a private company.

Zero tolerance policy towards illegal acts: Essar

Last Updated: Wednesday, February 25, 2015, 22:30

Days after one of its employees was arrested in the corporate espionage case, Essar Oil Wednesday said it is a law abiding corporate and had not authorised anybody to access stolen oil ministry documents.

Oil regulator for lower marketing margin on gas: Pradhan

Last Updated: Wednesday, February 25, 2015, 18:58

Oil regulator PNGRB has suggested a maximum marketing margin on natural gas sold to fertilizer and LPG plants of about 11.5 cents, less than what state-run GAIL and Reliance Industries currently charge from gas users.