India to start filling strategic oil reserve this month: Govt

Last Updated: Monday, June 8, 2015, 23:00

India will start keeping a strategic oil reserve from this month, which would be located at Visakhapatnam in Andhra Pradesh, Union Minister for Petroleum and Natural Gas Dharmendra Pradhan said Monday.

ONGC to invest Rs 41,678 crore on new fields

Last Updated: Sunday, June 7, 2015, 13:34

The company, which produced 25.94 million tonnes of crude oil and 23.52 billion cubic meters of gas in 2014-15, is boosting investment to reverse the declining trend in output at bulk of its old and ageing fields.

US lawmakers push for export of natural gas to India

Last Updated: Friday, June 5, 2015, 11:04

Influential American lawmakers have pushed for removing of restrictions on export of natural gas to India and sought to implement the civil nuclear deal to meet the country's ever growing energy needs.

ONGC Videsh pulls out of Brazil's Poco-Verde oil block

Last Updated: Thursday, June 4, 2015, 21:55

ONGC Videsh Ltd has pulled out of Brazil's Poco-Verde oil block where a new light oil discovery was made earlier this week.

Natural gas output to rise 50% by 2018-19

Last Updated: Wednesday, June 3, 2015, 18:14

In its annual report, the ministry has said domestic gas production will rise from 98.15 mmscmd in 2014-15 to 99.87 mmscmd in the current fiscal.

ONGC profit dips 19.5% on higher costs, write-off

Last Updated: Thursday, May 28, 2015, 18:49

State-owned ONGC Thursday reported 19.5 percent drop in net profit to Rs 3,935 crore for the quarter ended March 31, 2015, mainly due to higher operating cost and write-off on dry wells drilled.

India eyes listing of ONGC's overseas investment arm: Source

Last Updated: Thursday, May 28, 2015, 17:57

The government wants to list ONGC Videsh, the overseas arm of top oil explorer Oil and Natural Gas Corp , a company executive said.

GAIL sells some of its US LNG to Shell

Last Updated: Wednesday, May 27, 2015, 23:23

GAIL (India) Ltd has sold some of its liquefied natural gas (LNG) from the U.S. portfolio to European energy major Royal Dutch Shell ahead of production from early 2018, its head B.C. Tripathi said on Wednesday.

GAIL reports in 53% drop in Q4 profit

Last Updated: Wednesday, May 27, 2015, 20:57

State-owned gas utility GAIL India Wednesday reported a 53 percent drop in March quarter net profit as it sold less gas.

ONGC Videsh posts 57% drop in net profit at Rs 1,904 cr in FY15

Last Updated: Monday, May 25, 2015, 21:39

ONGC Videsh Ltd, the overseas arm of state explorer Oil and Natural Gas Corp (ONGC), Monday reported a 57.16 percent fall in its net profit at Rs 1,904 crore in FY 2014-15, mainly due to lower oil prices.

Iran raises gas prices by 40% in subsidy cut: Report

Last Updated: Monday, May 25, 2015, 18:19

Iran will raise gasoline prices by some 40 percent, the country's official news agency reported, the latest cut to the Islamic Republic's fuel subsidies that cost it some USD 32 billion a year.

PNGRB extends bidding to issue licenses for CNG retailing

Last Updated: Monday, May 25, 2015, 13:22

Of the 20 cities for which Petroleum and Natural Gas Regulatory Board (PNGRB) wanted to issue city gas distribution licenses, 8 did not get any bid while 4 others got single bids at the close of tender on Friday.