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Cairn gets environment clearance to hike output from Rajasthan block

Cairn gets environment clearance to hike output from Rajasthan block

Last Updated: Thursday, August 21, 2014, 14:18

The Ministry of Environment and Forests has given environment clearance to Cairn India to raise crude oil production from its prolific Rajasthan block by 50 percent to 300,000 barrels per day.

14 merchant bankers line up for managing ONGC stake sale

14 merchant bankers line up for managing ONGC stake sale

Last Updated: Wednesday, August 20, 2014, 21:11

As many as 14 merchant bankers, including Citigroup Global, Barclays Plc and Morgan Stanley, have made a beeline for managing the 5 percent stake sale of ONGC, which could fetch over Rs 17,000 crore to the exchequer.

Cut gas from non-priority areas for retail needs: Govt to GAIL

Cut gas from non-priority areas for retail needs: Govt to GAIL

Last Updated: Wednesday, August 20, 2014, 19:39

In a move to promote use of CNG, the government has ordered state gas utility GAIL India Ltd to supply natural gas to city gas retailers by cutting supplies of non-priority sectors like steel and petrochemicals.

Cairn says Rajasthan block holds 1-3 Tcf of gas reserves

Last Updated: Monday, August 18, 2014, 16:27

After oil, Cairn India's prolific Rajasthan block holds significant natural gas reserves, estimated at 1-3 Trillion cubic feet (Tcf), over half of which can be produced.

OilMin says negligence caused fire at GAIL pipeline in Andhra

Last Updated: Sunday, August 17, 2014, 22:59

The Petroleum Ministry has blamed negligence for causing the devastating fire at state-owned gas transporter GAIL India Ltd's gas pipeline in Andhra Pradesh that killed 22 people.

ONGC-Mittal gives up oil block in Nigeria

Last Updated: Sunday, August 17, 2014, 21:06

ONGC-Mittal Energy Ltd, the famed joint venture of ONGC and steel czar Lakshmi Mittal, has relinquished an oil block in Nigeria after the African nation refused to relieve it of a USD 6 billion downstream investment commitment.

ONGC completes drilling of 6 exploratory wells

Last Updated: Thursday, August 14, 2014, 16:51

ONGC has completed drilling of six exploratory wells so far, out of its target of 36 for this year, a top executive said here on Thursday.

ONGC net profit up 19% at over Rs 4,000 crore

Last Updated: Wednesday, August 13, 2014, 19:36

State-owned Oil and Natural Gas Corp on Wednesday reported 19 percent rise in net profit for the April-June quarter on realising higher crude oil prices.

ONGC Q1 Net profit at Rs 4,782 cr

Last Updated: Wednesday, August 13, 2014, 18:46

State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday reported a rather disappointing net profit of Rs 4,782 crore for the quarter ending June compared to the Rs 4,016 crore profit it gained in the same period a year ago.

Govt to announce new gas price formula by September end

Last Updated: Wednesday, August 13, 2014, 14:24

The Rangarajan formula was to be implemented from April 1 but was deferred by three months as general elections were announced.

Oil Ministry wants RIL to sell gas at $4.2; $6-6.5 price for others

Last Updated: Sunday, August 03, 2014, 11:31

The new rates were to apply for gas from currently producing MA field in the same KG-D6 block as the government had accepted geological reasons forwarded by RIL for its output lagging targets.

TDP MPs meet Oil Minister

Last Updated: Friday, August 01, 2014, 01:24

A delegation of TDP MPs on Thursday met Oil Minister Dharmendra Pradhan with the allegation that guidelines of the Ministry of Petroleum and Natural Gas have been violated for appointing new LPG distributors in Andhra Pradesh and demanded and end to irregularities.