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.

RIL to relinquish two gas discoveries off east coast

Last Updated: Sunday, July 19, 2015, 11:31

RIL and its partners -- BP plc of UK and Canada's Niko Resources -- will relinquish discoveries D-40 in NEC-25 block off the Odisha coast and D-31 in KG D6 block, sources privy to the development said.

Six discoveries by Cairn in last 1 yr in Rajasthan Block

Last Updated: Tuesday, June 23, 2015, 17:54

The 3,111 square kilometer Rajasthan block RJ-ON-90/1 consists of three contiguous development areas Development Area (DA) 1 which comprises the Mangala, Aishwariya, Raageshwari and Saraswati (MARS) fields; DA 2 consisting of the Bhagyam, NI, NE and Shakti fields; and DA 3, having the Kaameshwari West fields.

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.

Essar Shipping Q4 net loss narrows to Rs 159.69 crore

Last Updated: Friday, May 22, 2015, 15:13

Essar Shipping shares were trading 1.89 percent down at Rs 20.80 apiece during afternoon session on the BSE.

Govt to auction 69 small oil fields of ONGC, Oil India to private firms

Last Updated: Tuesday, April 21, 2015, 15:22

The government will soon auction 69 small and marginal oil fields of state-owned ONGC and Oil India to private firms as a precursor to a full fledged licensing round, Oil Secretary Saurabh Chandra said on Tuesday.

Govt to auction oil fields of ONGC to private companies

Last Updated: Tuesday, April 14, 2015, 15:46

Government plans to auction 69 small and marginal oil fields of state-owned ONGC and Oil India Ltd to private firms on a new revenue sharing model.

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.

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.

Oil Ministry says $5.6 bn production loss at PMT fields

Last Updated: Sunday, December 21, 2014, 14:46

Sources said the ministry told PMO that BG and its partners Reliance Industries and ONGC, had initiated arbitration on the issue related to cost recovery limit prescribed in the Production Sharing Contract (PSC).

ONGC to acquire stake in two Siberian oilfields

Last Updated: Thursday, December 4, 2014, 14:39

OVL is interested in expanding its presence in Russia as it looks to source one million barrels per day of oil and oil-equivalent gas from Russia.

Brazil's Petrobras to raise $5 billion in bonds

Last Updated: Wednesday, January 8, 2014, 23:07

Brazilian energy giant Petrobras has said it will sell USD 5 billion in bonds to help finance development of offshore oil fields over the coming five years.