Gas pricing policy to be reviewed, uncertainties removed: FM

Last Updated: Thursday, February 28, 2013, 23:04

Against the backdrop of oil firms like BP Plc complaining of artificially low gas rates in the country impeding investments, Finance Minister P Chidambaram Thursday said the pricing policy will be reviewed and uncertainties removed.

BP Plc exits China's Yacheng gas field, sells stake to Kuwait

Last Updated: Wednesday, December 19, 2012, 21:59

The sale of 34.3 percent interest in Yacheng gas field, the second announcement this week, takes BP inches away from the USD 38 billion asset disposals target it had planned to bolster finances after setting aside about USD 40 billion to pay for the worst US oil spill.

US suspends contracts with British oil giant BP

Last Updated: Thursday, November 29, 2012, 09:20

The US has temporarily suspended new government contracts with the British oil and gas company BP.

BP demands market price for natural gas

Last Updated: Tuesday, November 20, 2012, 20:21

BP Plc, Europe's second-biggest oil company, has demanded a market price for natural gas to enable immediate development of a huge 10 Trillion cubic feet of discoveries to help unlock up to USD 100-150 billion value.

BP considering LNG imports to India through JV

Last Updated: Monday, October 15, 2012, 20:05

BP last year bought a 30 percent interest in 23 oil and gas of RIL for USD 7.2 billion and formed a joint venture with the billionaire Mukesh Ambani-run firm for sourcing and marketing of natural gas.

Reliance Global to buy BP's Malaysia petchem unit for $230 mn

Last Updated: Saturday, September 29, 2012, 15:26

Reliance Industries has agreed to buy BP Plc's Malaysian petrochemical plant for USD 230 million, the British energy firm said.

RIL wins approval for $1 bn investment in KG-D6

Last Updated: Tuesday, August 7, 2012, 19:56

Reliance Industries and BP plc on Tuesday won approval for over USD 1 billion expenditure in the flagging KG-D6 gas block but were ordered to drill more wells at their own cost before three gas finds can be declared viable.

RIL, BP cut investment in MA oilfield to $1.96 billion

Last Updated: Thursday, July 26, 2012, 16:49

Reliance Industries and its British partner BP plc have revised downwards the investment required for developing the MA oilfield in the predominantly gas-rich KG-D6 block by USD 276 million to USD 1.96 billion.

Govt examining RIL-BP position, will take right approach: Min

Last Updated: Wednesday, July 18, 2012, 16:38

The government on Wednesday said discussions are on with Reliance Industries and its partner BP Plc which have warned of further drop in KG-D6 gas output in the absence of investments approvals by the Oil Ministry, and maintained that it would take 'right approach' and 'suitable decision' on the issue.

OilMin, RIL-BP in a slugfest over KG-D6 block

Last Updated: Tuesday, July 17, 2012, 18:15

While the CAG audit report was submitted in September last year, sources said the oil ministry-controlled block oversight committee has not approved budgets and work programme for 2010-11, 2011-12 and 2012-13.

Oil Min fines RIL $1-bn; arbitration way out

Last Updated: Friday, May 4, 2012, 11:17

The fall in output, which the ministry blamed on RIL not drilling its committed quota of wells, had led to a large chunk of production facilities lying unused or under-utilised, a top ministry official said on Friday.

BP reaches $7.8 bn deal with plaintiffs in oil spill case

Last Updated: Saturday, March 3, 2012, 10:37

British Petroleum has reached a USD 7.8 billion deal with thousands of fishermen and other plaintiffs who had filed a suit over the 2010 Gulf of Mexico oil spill off the US coast.