Oil Ministry moves Cabinet note to hike gas price to $6.7 per ...

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas inched up to US$ 101.96/per barrel (bbl) on 17.05.2013. This was higher ...

Finance minister P. Chidambaram will have to make a budgetary allocation of around Rs 20,000 crore for the oil ministry to fill up the 5.3-million-tonne (mt) strategic crude reserve, which will be ready for use in 2013-14. Alternatively, the government will ...

According to sources, the Ministry of Environment and Forests has asked the state-owned oil and gas explorer to submit certain details with regard to critical environmental issues identified during laying of pipeline for the project. Sources said, ...

With the Finance Ministry having diverted Rs1,14,986 crore meant for replenishing the Oil Industry Development Fund (OIDF) into addressing its fiscal deficit concerns, the Petroleum Ministry which was banking heavily on the corpus to finance the ...

THE Minister for Energy and Minerals, Prof Sospeter Muhongo, has said the government will open bids for gas and oil exploratory licences on May 9, 2014 at a time when the country will have the Natural Gas Policy and legislation. He told Members of ...

: The oil ministry's technical arm for exploration, Directorate General of Hydrocarbons, has recommended that three gas discoveries reported by Reliance Industries (RIL) in the KG-D6 block off the Andhra coast be taken away from it, even though ...

Oil companies want the Government to allow them to import crude oil on what is called the cost, insurance and freight (cif) basis, without requiring any approval from the Shipping Ministry. The move is expected to eventually help more foreign flagged vessels ...

The Empowered Group of Ministers (EGoM) would soon discuss the note circulated by the petroleum ministry on allocation of natural gas. According to the note, the petroleum ministry wants to discontinue the practice of giving priority to urea plants ...

Fertiliser industry body FAI today opposed the Oil Ministry move to abolish priority allocation of natural gas saying that any change in the policy will affect the domestic urea output and increase subsidy levels.