Oil and Gas

IOCL has purchased the country’s first shale oil from the US and is aiming to step up its imports from America as a part of its crude oil diversification strategy. The company bought 1.9 million barrels of US […]

The Oil and Natural Gas Corporation (ONGC) plans to double its gas production to over 100 million standard cubic metres per day in the next five-six years. The government is targeting an increase in the share of gas […]

The Directorate General of Hydrocarbons in its draft report titled “Policy Issues for Streamlining the Working of Production Sharing Contracts”, has proposed a policy prescription on 11 long-standing issues related to contracts under the New Exploration Licensing Policy (NELP) […]

The MoPNG has stated that the daily revision in petrol and diesel prices will continue despite petrol prices rising by Rs 6.60 per litre since July. As per the ministry, the daily revision in petrol and diesel prices […]

The delivery of fuels (such as petrol and diesel) to homes is being mulled over as government-owned fuel retailers are in advanced talks with the Petroleum and Explosives Safety Organisation (PESO) on the formulation of […]

GAIL (India) Limited has completed land acquisition for its Kochi-Kanjirakode-Bangalore/Mangalore gas pipeline project. The project involves the construction of a 1,156 km long pipeline with a 16 mmscmd capacity (including 4 mmscmd as common carrier) […]

Bharat Petroleum Corporation Limited plans to venture into the gas business and diversify the sourcing of fuels as a part of its five-year plan to expand its value chain. The company is targeting a spend […]

The Oil and Natural Gas Corporation (ONGC) has approved an additional investment of Rs 31.04 billion for drilling wells and creating surface facilities to produce gas from the Tripura gas fields. The company will produce […]

In order to curb India’s dependence on imported crude oil, the Ministry of Petroleum and Natural Gas (MoPNG) has stated that it is planning to unveil a new policy on biofuels. The government has been […]

In order to curb India’s dependence on imported crude oil, the Ministry of Petroleum and Natural Gas (MoPNG) has stated that it is planning to unveil a new policy on biofuels. The government has been […]

Bharat Petroleum Corporation Limited (BPCL) is reassessing its plan to build a refinery in Allahabad, Uttar Pradesh. The land required for the project is already available with BPCL and it has begun erecting boundaries around […]

The first phase of the Bengaluru city gas distribution (CGD) project has been inaugurated. About 65,000 houses in the city are likely to get piped natural gas (PNG) by March 2018. The project is being […]

Reliance Industries Limited (RIL) has pulled out of the last oil block it held in Peru, trimming its overseas assets to just two properties in Myanmar. In 2007, the group established Reliance Exploration and Production […]

ONGC Videsh Limited (OVL), the overseas arm of the Oil and Natural Gas Corporation (ONGC), has got a two-year extension to explore a Vietnamese oil block in the contested waters of the South China Sea. This […]

The foundation stone for the Barmer refinery-cum-petrochemical project in Rajasthan is likely to be laid by September 2017. The state government is likely to sign the land lease deed agreement with Hindustan Petroleum Corporation Limited […]

GAIL (India) Limited is likely to construct a breakwater at the Dabhol LNG terminal to convert it into an all-weather port. The contract for the breakwater facility is likely to be awarded soon and the […]

Royal Dutch Shell and Engie (formerly GDF Suez LNG UK Limited) have exited the Kakinada Floating LNG Import Terminal Project over concerns about the demand for imported gas in India. Post the exit of the […]

The government has decided to form several committees to oversee operations at ONGC’s and OIL’s ageing oilfields that contribute about 70 per cent of the country’s oil output. The committees will have the power to […]

In a bid to reduce India’s dependence on oil and gas imports, NITI Aayog is considering incentives for global oil majors to set up manufacturing, and research and development facilities in the country. The think […]

The government is planning to formulate a new policy to facilitate private capital flow and the use of technology to substantially increase crude oil production in major oilfields such as Bombay High (that were given […]