<p>With a view to give boost to agriculture sector, achieve import substitution, promote effective waste management and reduce environmental pollution Government has been blending ethanol in petrol. With
NEW DELHI: A Parliamentary panel has asked oil ministry and DGH to closely monitor Reliance Industries' flagging KG-D6 gas fields saying any production decline should be supported by proper evaluation.
NEW DELHI: The oil ministry plans to take coal bed methane (CBM) pricing matters to a ministerial panel as it sees a wide gap between prices offered by customers to Reliance Industries and Essar, a move
In order to keep the nation's largest liquefied natural gas importer a private firm. The Oil Ministry has rejected public sector oil companies' plan to acquire Asian Development Bank's stake in Petronet LNG so as to keep the nation's largest liquefied natural gas (LNG) importer a private firm. The ADB had on August 23 last year offered to sell its 5.2% stake in Petronet, in which GAIL, IndianOil (IOC), Bharat Petroleum (BPCL) and Oil and Natural Gas Corp (ONGC) hold 12.5% stake each and have a first right of refusal
The Central Government has directed Reliance Industries Ltd. (RIL) to sign gas sales and purchase agreement (GSPA) with NTPC and 10 other city gas distribution (CGD) companies to supply gas from the KG-D6 fields. Recently, Communist Party of India (Marxist) Rajya Sabha member Tapan Sen had, in a letter to Prime Minister Manmohan Singh, pointed out to interventions and action of the Prime Minister's Office (PMO) to help private gas and power producers while ignoring the interests of its own PSUs.
Finance ministry not inclined to forego more revenue. The oil ministry has asked for a tax cut of . 6 per litre on petrol to help avoid a sharp rise in retail price of the fuel, but the finance ministry,
New Delhi Liquified natural gas (LNG) handling terminals in the country, including the proposed ones, will have to offer a little less than a third of their total capacity for third-party use at fair and competitive terms, according to the norms being worked out by the oil ministry. The idea is to remove entry barriers in the business of supplying imported natural gas to industries. Open access is considered vital for fostering competition in the LNG sector as it optimises land use by various players for regasifying the frozen gas and its further transportation to customers.
New Delhi The Supreme Court on Monday sought replies from the Centre, ONGC and others on a PIL seeking a CBI probe into the $8.48-billion Cairn-Vedanta deal, besides a direction to the government to cancel its approval for the deal on the ground that the country would lose over Rs one lakh crore in the process. The Cabinet Committee on Economic Affairs, headed by Prime Minister Manmohan Singh, had on January 24 granted final approval to Vedanta Resources’s acquisition of a majority stake in Cairn India for $8.48 billion.
The Petroleum and Natural Gas Ministry has rejected the “integrated development plan” submitted by Reliance Industries Limited (RIL) and its partner British Petroleum (BP plc) for development and production of 16 gas discoveries and instead asked it to restrict pre-development expenses only to fields that have proved commercial viability. The Managing Committee (MC), led by the Directorate-General of Hydrocarbons (DGH) chief, rejected the proposal for undertaking concept validation and front-end engineering design (FEED) for all the 16 discoveries around the present productive Dhirubhai-1 and 3 fields in the KG-D6 block.
The government has approved Cairn India’s proposal to ramp up its Rajasthan block’s output by another 25,000 barrels per day after its partner in the block, public sector ONGC, has endorsed raising production
Having failed to get a response from the ministry of petroleum and natural gas for nearly five months, Reliance Industries Ltd (RIL) on Wednesday filed a plea in the Supreme Court to seek the appointment of an arbitrator in its dispute over the D6 block in the Krishna-Godavari basin. According to a spokesperson, the company has sought an order appointing an arbitrator under section 11(6) of the Arbitration and Conciliation Act and article 33.5 of the production-sharing contract. “We had served a notice on the government in November 2011. We have approached the Supreme Court since we did not get any response,” he said.
