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Shah panel to submit report on ONGC-RIL gas dispute by August 31

Government has extended by one month the tenure of A P Shah Committee looking into the dispute over natural gas migrating from state-owned ONGC's idle blocks in KG basin to neighbouring fields of Reliance Industries.

Govt may cut gas price for producers by 20% in October

Govt may cut gas price for producers by 20% in October

Natural gas price paid to producers like state-owned Oil and Natural Gas Corp (ONGC) and Reliance Industries is likely to fall 20 percent to USD 2.45 in October.

NITI Aayog to unveil National Energy Policy in 3 months

NITI Aayog is likely to unveil the new National Energy Policy in the next three months with a focus on air quality issue, renewable energy, natural gas, universal electrification and clean cooking fuel.

India finds promising natural gas hydrates in Bay of Bengal

India finds promising natural gas hydrates in Bay of Bengal

The discovery, called the Indian National Gas Hydrate Programme Expedition 02, was the result of the most comprehensive gas hydrate field venture in the world made up of scientists from India, Japan and the US, it said in a statement.

RIL, BP spend Rs 4,500 crore to maintain gas output at KG-D6

RIL, BP spend Rs 4,500 crore to maintain gas output at KG-D6

RIL-BP are currently producing from Dhirubhai-1 and 3 gas field and MA oil and gas field, three of the over one-and-half dozen discoveries made in the Bay of Bengal Block KG-DWN-98/3 or KG-D6.

Petronet LNG plans $3 billion investment push overseas

Petronet LNG plans $3 billion investment push overseas

India's biggest gas importer Petronet LNG aims to spend up to $3 billion in the next five years to expand overseas, setting up terminals in Bangladesh and Sri Lanka among other countries, its managing director said.

India's 8 core sectors growth soars to 4-year high in April

India's 8 core sectors growth soars to 4-year high in April

India's eight core sectors growth rose by 8.5 percent in April compared to (-)0.2 percent in same month last year.

 

ONGC gets 25% discount on premium from United India, GIC Re

ONGC gets 25% discount on premium from United India, GIC Re

ONGC's hard bargain with state-run United India Insurance and GIC Re has further brought down its annual renewal premium by almost 25 percent to USD 16 million for both insurance as well as reinsurance covers for its offshore assets valued at USD 34 billion.

Natural gas prices cut by 20%; CNG, cooking gas to be cheaper

Natural gas prices cut by 20%; CNG, cooking gas to be cheaper

Price of natural gas produced from existing fields of state-owned ONGC and Reliance Industries has been cut to USD 3.06 per million British thermal unit with effect from Friday, an oil ministry official said.

Oil Minister Dharmendra Pradhan to visit Iran on April 6-7

Oil Minister Dharmendra Pradhan to visit Iran on April 6-7

Accompanied by ONGC Videsh Ltd Managing Director Narendra K Verma and Indian Oil Corp (IOC) Chairman B Ashok, Pradhan's visit is aimed at engaging with leadership of the oil and gas rich nation that has just come out of international sanctions.

New policies to attract investments in oil & gas sector: S&P

New policies to attract investments in oil & gas sector: S&P

The new price formula and calibrated marketing freedom for gas produced from fields in difficult terrain could help attract investments in India's oil and gas sector, said Standard & Poor's Ratings Services.

ONGC mulls drilling nine development wells in 2 fields

ONGC mulls drilling nine development wells in 2 fields

Oil and Natural Gas Corporation Ltd is planning to undertake drilling of nine development wells in KG-OSN-2004/1 and GS-49-2 fields beside creation of other infrastructure in KG Basin with an investment outlay of Rs 3,750 crore.

Centre can't stop us from exporting crude: Cairn India to HC

Centre can't stop us from exporting crude: Cairn India to HC

Cairn India Tuesday claimed in the Delhi High Court that under Foreign Trade Policy, the Centre cannot stop it from exporting crude from its Rajasthan oil field.

GAIL Q3 net profit rises 10% to Rs 664.26 crore

GAIL India Ltd, the country's biggest natural gas supplier, today reported a 10 percent rise in its December quarter net profit on spike in margins and exemption from payment of fuel subsidy.

Govt's gas pricing formula not viable to develop KG gas: ONGC

Govt's gas pricing formula not viable to develop KG gas: ONGC

State-owned Oil and Natural Gas Corp (ONGC) has sent an urgent message to Petroleum Ministry, saying the natural gas prices according to a formula approved by the BJP-led government was not viable to develop its KG basin discoveries.

Core sector growth slows down to 0.9% in December

Core sector growth slows down to 0.9% in December

Growth of eight core sectors slowed down to 0.9 percent in December 2015 from 3.2 percent in the same month of previous year as production of crude oil, natural gas and steel sectors declined.

Oil ministry mulling new LPG connections on EMIs: Dharmendra Pradhan

Oil ministry mulling new LPG connections on EMIs: Dharmendra Pradhan

Targeting to add 10 crore new LPG connections in next three years, Union Minister for Petroleum and Natural Gas Dharmendra Pradhan Sunday said oil marketing companies are mulling to sell new cooking gas on an EMI basis, just like for other consumer durables.

Mandi Live : Stock Update Natural Gas

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Gas worth Rs 11,000 cr migrated from ONGC to RIL's KG-D6 block: Report

Gas worth Rs 11,000 cr migrated from ONGC to RIL's KG-D6 block: Report

US-based consultant D&M has submitted its final report on the gas dispute between ONGC and Reliance Industries, establishing that natural gas worth over Rs 11,000 crore has migrated from idling KG fields of the state-owned firm to the adjoining KG-D6 block.

RIL faces 40% cut in marketing margin on KG-D6 gas

RIL faces 40% cut in marketing margin on KG-D6 gas

Reliance Industries is facing a 40 percent cut in the marketing margin it charges on selling its KG-D6 gas to fertilizer and LPG plants after the government notified a ceiling of Rs 200 per thousand standard cubic meters (scm).