Oil and Gas

The Assam government has signed petroleum mining leases with the Hindus­tan Oil Exploration Company, Oil India Limited (OIL) and Indian Oil Cor­po­ration Limited (IOCL). The Ministry of Mines and Minerals has committed to support these […]

The Ministry of Petroleum and Natural Gas has modified the gas allocation policy for the city gas sector, allowing GAIL to import gas and buy from newer domestic fields to meet the increasing demand from […]

The board of OIL has approved the setting up of a polypropylene unit and its associated facilities at Numaligarh at an estimated capital cost of Rs 65.55 billion. The project involves capacity expansion of the […]

IOCL’s board has accorded investment approval worth Rs 14.59 billion and Rs 72.82 billion for its a Poly Butadiene rubber (PBR) unit at the Panipat Refi­nery, and development of city gas distribution (CGD) networks in […]

Indian Oil Corporation Limited (IOCL) plans to invest around Rs 8.4 billion in expanding its petroleum, oil and lubricant (POL) storage capacity to 5.53 million tonnes per annum (mtpa) by 2030, up from the existing […]

The board of Vedanta Limited has approved a capital expenditure of $687 million for drilling new oil and gas wells. This work will be carried out by through Cairn Oil and Gas. The allocated amount […]

The Assam government has signed a petroleum mining lease with Oil India Limited (OIL) for the exploration of petroleum products in eight blo­cks in return for an annual royalty of Rs 20 billion. The eight […]

ONGC plans to commercialise another basin – the Vindhyan basin – in Ma­d­hya Pradesh. This would be the ninth producing basin of India and ei­gh­th by ONGC. The exploratory well Hatta#3 was drilled with the […]

In a notable development, the Directorate General of Hydrocarbons (DGH) has announced the bidding for discovered small fields-III (DSF-III). The bidding round started from April 1, 2022 and the last date for bid submission is […]

Cairn Oil & Gas, a Vedanta Group firm, has announced an oil discovery in the 542 square km RJ-ONHP-2017/1 block, located in Gudamalani and Choh­tan tehsils of Barmer district, Rajasthan. The company has notified the government […]

The Directorate General of Hydrocarbons (DGH) has received 10 bids for eight oil and gas blocks offered under the seventh round of the new exploration policy. Of the 10 bids received, only two are from […]

The Oil and Natural Gas Corporation (ONGC) has unveiled a new oil and gas discovery in the prolific Mumbai basin off the country’s west coast. ONGC discovered oil and gas in the VGN-1 exploration well […]

IOCL is planning three new plants in the Northeast to increase its liquefied petroleum gas (LPG) bottling capacity by 53 per cent, to 80 million cylinders annually, by 2030, in order to meet the growing […]

Bharat Petroleum Corporation Limited (BPCL) has launched a gas distribution network in Aurangabad and Ahmednagar districts of Maha­rashtra. The company plans to invest around Rs 40 billion for the completion of the project. The project […]

Adani Port and Special Economic Zone Limited has signed an agr­eement with Indian Oil Corporation Limited (IOCL) to augment IOCL’s crude oil volumes at Mundra port. After the expansion of IOCL’s existing crude oil tank […]

The Reserve Bank of India (RBI) has issued a notification to operationalise the $500 million line of credit (LoC) provided by India to Sri Lanka for buying pet­roleum products. In February 2022, the Export Import […]

Maharashtra Natural Gas Limited (MNGL) has started trial operations of its liquefied natural gas (LNG) to compressed natural gas (CNG) con­ver­si­on plant at Pathardi in Ahmednagar district of Maha­rashtra. The plant is expected to be […]

L&T Hydrocarbon Engineering Limited, a wholly owned arm of Larsen & Toubro (L&T), has secured a large offshore contract from ONGC for the seventh development phase of its pipeline replacement projects. The contract has been […]

India has extended a line of credit of around $500 million to Sri Lanka to fund the country’s fuel purchases, as the nation struggles to overcome its worst financial and energy crisis in decades. The […]

Bharat Petroleum Corporation Limited (BPCL), GAIL (India) Limited, ONGC, IOCL, HPCL and Oil India Limited (OIL) plan to invest around Rs 1.1 trillion during 2022-23. These public sector enterprises will invest 7.4 per cent more […]