The Ministry of Petroleum and Natural Gas (MoPNG) is working on a policy for setting up a trading desk for oil marketing companies (OMCs) to allow them to buy crude from the spot market. This […]
The Centre’s green panel has given clearance to the Oil and Natural Gas Corporation (ONGC) for its Rs 17.52 billion project involving the drilling of 406 development wells in oilfields in Gujarat’s Cambay basin. The […]
OVL has entered into an agreement with the Republic of Equatorial Guinea for cooperation in the upstream hydrocarbon sector in Africa. Under the MoU, Equatorial Guinea will cooperate with OVL to explore potential investment opportunities […]
Sudan has offered ONGC Videsh Limited (OVL) three more oil and gas blocks for exploration and production and invited Indian firms to set up a coastal refinery to boost fuel supplies within Africa. The move […]
The Oil and Natural Gas Corporation (ONGC) has secured environmental clearance for drilling 45 development wells and setting up other related infrastructure, entailing a cost of over Rs 530 billion in the Krishna-Godavari (KG) basin […]
The MoPNG has sought Rs 150 billion from the Centre to build the second phase of strategic petroleum reserves in a cost-effective manner, given the declining global crude oil prices. India uses strategic storage reserves, […]
The Ministry of Petroleum and Natural Gas (MoPNG) has proposed an investment of Rs 1,300 billion to ramp up hydrocarbon production in the Northeast (NE). Of this, around Rs 800 billion would be for upstream […]
Russia’s decision to open up its oil and gas sector to Indian companies will significantly boost bilateral trade. The two nations are negotiating some more acquisitions and projects in the hydrocarbons sector. The deals sealed […]
Qatar has slashed the price of gas it supplies to India by almost half by removing the floor and cap in the pricing formula, but it has introduced a small fixed component. The revised formulation, […]
The government is likely to convert a cess on domestically produced crude oil into an ad valorem rate from a fixed per tonne levy at present. The budget for 2016-17 is likely to make changes in […]
India plans to set up its biggest oil refinery in Maharashtra and the government has mandated the state-run oil marketing companies (OMCs) to work on the project. The government envisages the development of a petrochemical […]
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