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ONGC takes $239 million hit from royalty payments

ONGC takes $239 million hit from royalty payments

Oil and Natural Gas Corp will take a 16 billion rupee ($239 million) hit to its quarterly earnings to account for previous royalty payments to two states.

Oil slips $1 on concerns U.S. production is rising

Oil slips $1 on concerns U.S. production is rising

Oil fell by $1 a barrel on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market.

Industry threatens nearly half of natural heritage sites: WWF

Mining, oil exploration, illegal logging and other industries threaten almost half the natural World Heritage Sites the UN seeks to preserve for future generations, conservation group WWF said Wednesday.

Govt waives off customs duty on goods for idle fields of ONGC, OIL

Govt waives off customs duty on goods for idle fields of ONGC, OIL

The government has waived off customs duty on import of goods for producing oil and gas from 69 idle fields of state-owned ONGC and Oil India Ltd that will be auctioned this year.

Shell halts controversial oil exploration in Alaska

Shell halts controversial oil exploration in Alaska

Royal Dutch Shell began drilling there in July, two months after US President Barack Obama approved Arctic drilling, despite opposition from environmentalists.

India's oil exploration off Vietnam 'illegal': Chinese daily

Terming India's plans to conduct oil exploration off Vietnam coast in the South China Sea as "illegal", a state-run Chinese daily Tuesday said it is an "unwise move" that may "sabotage" positive momentum in ties.

OIL appoints Roy as Director for HR and Business Development

Biswajit Roy has taken over as the Director (Human Resources and Business Development) of Oil India Ltd (OIL), the nation's second-largest exploration and production company.

Cairn discovers oil offshore Senegal

The companies encountered 29 metres of net oil bearing reservoir at the FAN-1 well, located around 100 km off the coastline and 1,427 metres deep.

OVL to expand oil and gas exploration in offshore Vietnam

ONGC Videsh Ltd, the overseas arm of state-run explorer Oil and Natural Gas Corp (ONGC), has signed an agreement to expand its oil and gas exploration in offshore Vietnam.

China to oppose India-Vietnam oil deal 'within its waters'

China on Tuesday made it clear that it will "not support" the India-Vietnam agreement to enable ONGC to explore two more oil wells if they fall within the waters of the disputed South China Sea administered by it.

Vedanta for an independent regulator for oil and gas sector

As government debates on gas price hike and a new contract for oil and gas exploration, Vedanta Resource today said domestic rates should be linked to international markets and an independent regulator be set up.

Petrovietnam, ONGC Videsh sign oil exploration pact

The exploration pact between Petrovietnam and ONGC Videsh Ltd would allow activities in Vietnam, India as well as in a third country.

CCEA approves shale gas and oil exploration programme

The Cabinet Committee on Economic Affairs (CCEA) Tuesday approved the long-awaited shale gas and oil exploration programme to boost domestic output.

Spain, Morocco to explore oil near Canary Islands

The Cajun Express rig leased by Cairn Energy will begin operations in early October some 555 km northeast of the Canary Islands.

B N Talukdar to be new DGH

B N Talukdar, Director for Exploration in Oil India Ltd, will be the new Director General of Hydrocarbons (DGH).

Cairn India to invest $3 bn over 3 years to produce more oil

Cairn India, a unit of London-listed Vedanta Resources Plc, will invest more than USD 3 billion over the next three years to explore and produce more oil, its chairman said on Wednesday.

India to offer 68 blocks in tenth round of NELP

India may offer as many as 68 blocks or areas for exploration of oil and gas in the 10th round of New Exploration Licensing Policy (NELP) this year.

'Asia Pac, W Africa to show growth in oil exploration activity'

However, the report forecasts a decline in capex in Russia, North Africa, Central America, and Canada in the near to medium term.

A lot of obstacles to reforms in the country: Govt

Amid criticism that reforms are not being pushed, government on Saturday said it is not easy to achieve political consensus on issues in a coalition because there are hurdles.

Petro-chem CEOs delegation asks govt to accelerate exploration

A high-power delegation of top officials from Reliance Industries, Cairn India and BG India on Monday asked Oil Minister S Jaipal Reddy to accelerate oil and gas explorations by removing bureaucratic hurdles.