Oil and Gas

The centre has agreed in principle to set up a gas pipeline from Barauni in Bihar to Guwahati in Assam at an estimated cost of Rs 40 billion. The pipeline will be connected with the […]

Under the Union Budget 2018-19, the government has proposed an expenditure of Rs 311.01 billion (budget estimate) for the MoPNG during 2018-19. This is an increase of Rs 19.44 billion from the Rs 291.57 billion […]

The Oil and Natural Gas Corporation (ONGC) bought the government’s entire 51.11 per cent stake in oil refiner Hindustan Petroleum Corporation Limited (HPCL) for Rs 369.15 billion on January 31, 2018. ONGC bought 778.8 million […]

India will put 60 discovered small oil and gas fields on auction. The fields have the potential to produce 194.65 mt of oil and oil equivalent gas. The blocks that will be auctioned were originally […]

The Petroleum and Natural Gas Regulatory Board (PNGRB) will offer 100 cities for compressed natural gas (CNG) retail licence bidding in January 2018 on revised terms. The earlier bidding criteria did not include the rate […]

The government is planning to allow private companies to exploit shale reserves in their oil and gas blocks by changing the definition of petroleum in the rules in order to include this resource. The proposed […]

The government has withdrawn its decision to raise liquefied petroleum gas (LPG) prices by Rs 4 per cylinder per month as the move is contrary to its Ujjwala scheme for providing free cooking gas connections […]

ONGC has made a significant oil and gas discovery west of its prime Mumbai High fields in the Arabian Sea. According to the Ministry of Petroleum and Natural Gas (MoPNG), the discovery was made in […]

The Oil and Natural Gas Corporation (ONGC) plans to open a new sedimentary basin in the Gulf of Kutch off the west coast. ONGC has made a significant natural gas discovery in the Gulf of […]

The government has floated a draft policy for boosting oil and gas output through projects using enhanced oil recovery techniques. It has proposed major fiscal incentives including a 50 per cent waiver of the oil […]

The government plans to complete the first round of auction of oilfields under the Open Acreage Licensing Policy (OALP) by March 2018 and award the blocks by June 2018. The auction, which is under the […]

GAIL (India) Limited has stated that it has awarded the contract for laying 520 km of pipelines from Dobhi (Bihar) to Durgapur (West Bengal) including a 120 km line to Jamshedpur (Jharkhand). With these awards, […]

India has recorded a 45 per cent increase in the number of petrol pump outlets during the period 2011 to 2017, possibly the highest growth rate in the world. As per data available from the […]

GAIL (India) Limited will be skipping medium-term LNG deals in 2018 as it will start getting LNG from its US portfolio from February 2018. GAIL used to buy one medium-term contract every year to cater […]

Petronet LNG Limited (PLL) has dropped its plans to buy a 25 per cent stake in the Gujarat State Petroleum Corporation’s (GSPC) Mundra liquefied natural gas (LNG) import terminal in Gujarat in order to allow […]

On account of serious pollution levels in Delhi and adjoining areas, the Ministry of Petroleum and Natural Gas (MoPNG) in consultation with oil marketing companies (OMCs) has decided to advance the introduction of BS-VI cleaner […]

The government intends to launch the second round of auctions for discovered small fields (DSFs) by January 2018. Drawing lessons from the first round, the fields offered in the second round will be grouped into […]

The Oil and Natural Gas Corporation (ONGC) and Vedanta Limited on November 15, 2017 emerged as the biggest bidders for oil and gas blocks, submitting 41 of the 56 bids received in India’s maiden auction […]

The Directorate General of Hydrocarbons (DGH) has stated that as of now 51 expressions of interest (EoIs) covering an area of about 60,000 square km for the exploration of oil and gas have been bid […]

India is likely to save about Rs 40 billion from the recent LNG contract renegotiation with Exxon Mobil Corporation. The new rates will kick in from January 2018. Petronet LNG Limited (PLL) had in August […]