Govt seeks $2.2 billion to build second phase of strategic oil reserves

Govt seeks $2.2 billion to build second phase of strategic oil reserves

Strategic storage reserves are underground rock caverns used to store crude oil that can be used in case of a supply cut-off to a country.

Great news for CNG car users! Now buy CNG in NCR at concessional rates during odd hours

Great news for CNG car users! Now buy CNG in NCR at concessional rates during odd hours

Oil Minister Dharmendra Pradhan on Thursday said that CNG in NCR will be sold at concessional rates during odd hours of the day to reduce rush at CNG pumps.

Govt decides to limit LPG subsidy for tax payers earning over Rs 10 lakh

Government has decided that consumers with taxable income above Rs 10 lakh per year will not get LPG subsidy from January 2016.

India should buy overseas assets aggressively: Pradhan

Opportunities emerging from low oil prices were discussed at a meeting called by Prime Minister Narendra Modi with business leaders, bankers and bureaucrats yesterday against the backdrop of global economic turmoil, he said.

10-time jump in FDI in petroleum and gas sector

Union Minister Dharmendra Pradhan, while replying to questions, said the government is encouraging foreign investment to supplement domestic investment and technological capabilities.

Vyapam scam: Congress targets ​Dharmendra Pradhan, Oil Minister says 'never took any favours from accused'

Vyapam scam: Congress targets ​Dharmendra Pradhan, Oil Minister says 'never took any favours from accused'

Even as the Congress demanded the sacking of Dharmendra Pradhan, alleging that he received 'payments' from the prime accused in Vyapam scam along with some other BJP and RSS leaders, the Oil Minister denied taking any favour from Sudhir Sharma saying his tickets for visit to Bhopal in May 2010 were procured by the Party.

Oil Minister to lead delegation on energy dialogue with Canada

The three-day bilateral energy dialogue, which beganon Friday, covers areas like hydrocarbon, thermal energy and renewable energy, an official statement said here.

Dharmendra Pradhan presses Qatar for LNG price cut

He made the plea when he called on Qatar's Energy Minister Mohammed Saleh Abdullah Al Sada on the sidelines of the 6th OPEC International Summit in Vienna on June 4, official sources said.

Pradhan to lead industry delegation to Mexico, Colombia

To bolster energy ties with Americas, Oil Minister Dharmendra Pradhan is leading a high level delegation of industry CEOs to Mexico and Colombia from May 18 to 22.

'India looking to acquire oil assets abroad'

India is looking to buy oil assets abroad, the country`s oil minister said on Friday, adding he was seeing increased engagement in the Latin American region.

Petrol price in India more than Pakistan: Oil Minister Pradhan

Diesel at Rs 49.57 per litre in Delhi is however cheaper than all neighbouring nations except Sri Lanka, where it costs Rs 44.29 for a litre, he said in a written reply to a question in Rajya Sabha.

Govt rejects BP's application for selling ATF

BP Exploration (Alpha) Ltd, a wholly owned subsidiary of BP plc, had on June 11, 2014 submitted an application for authorisation to market aviation turbine fuel (ATF) claiming to have invested USD 477 million in the country.

IEA keen to make India its full-time member

The International Energy Agency (IEA) is keen that India becomes a full-time member of the Paris-based agency that advises governments of 29 developed nations.

Govt examining CAG report on irregularities in ONGC hiring rig

The government is examining CAG allegations of irregularities in ONGC hiring a deep sea drilling rig from Reliance Industries and will take appropriate action, Oil Minister Dharmendra Pradhan said on Monday.

OVL in talks to acquire stake in 2 Siberian oilfields

While the Minister did not name the fields, sources said OVL was in talks for a stake in Vankor and Yurubcheno-Tokhomskoye fields.

Odisha to get more funds in Finance Commission: Pradhan

Refuting allegations that Odisha would lose revenue following the recommendations of the 14th Finance Commission, union Petroleum Minister Dharmendra Pradhan said on Sunday that it would get about Rs.8,000 crore more funds per annum compared to the 13th commission allocations.

Govt identifying small oil fields for auction

The government is identifying the small and marginal oil and gas fields it plans to auction in coming months to boost domestic production, Oil Minister Dharmendra Pradhan said Friday.

Govt clears 30 oil & gas discoveries for production: Pradhan

Ending months of logjam over discoveries mired in contractual disputes, the government has cleared 30 projects of firms like Cairn India and ONGC to help monetise about 2.6 trillion cubic feet of gas reserves.

Pradhan rings up VIPs with request to give up subsidised LPG

Keen to ensure that the subsidised fuel reaches only those needing it, Pradhan surrendered his subsidised LPG connection soon after becoming a minister and has since then been buying gas at market rate.

Govt looks at divestment in oil PSUs, new subsidy sharing way

With disinvestment in ONGC stuck due to subsidy woes, the government is looking at selling stake in other oil PSUs like Oil India Ltd (OIL) and gas utility GAIL India to meet its revenue targets.