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Cairn seeks ONGC nod to extend Rajasthan block permit beyond 2020

Last Updated: Sunday, July 27, 2014, 16:26

Sources said as a licensee, ONGC has concerns on royalty which it would be like to be addressed at the time of extension.

KG-D6 case: Oil Min says it challenged McHugh decision to return

Last Updated: Wednesday, July 23, 2014, 17:16

Former Australian judge Michael McHugh had to quit as chairman of an arbitral tribunal in the Reliance Industries' KG-D6 cost recovery dispute as Oil Ministry challenged his decision to return after he initially withdrew from the post.

CAG flays govt's fuel pricing policy; says RIL, Essar Oil given undue benefits of Rs 667 cr

Last Updated: Friday, July 18, 2014, 18:30

State-owned fuel retailers buy diesel from private refiners as their own production is insufficient to meet domestic demand.

ONGC opposes govt stake sale before issues are resolved

Last Updated: Thursday, July 17, 2014, 13:45

The government plans to sell 42.77 crore shares, or five per cent of its stake in ONGC worth Rs 17,400 crore at current prices, this fiscal.

Oil Ministry to move Cabinet to allow RIL to retain gas finds

Last Updated: Wednesday, July 16, 2014, 11:03

RIL has not been able to submit a development plan for D-29, 30 and 31 gas discoveries, which hold an estimated 345 billion cubic feet of reserves.

Govt slaps $579 mn additional penalty on RIL

Last Updated: Monday, July 14, 2014, 16:09

With this, the total penalty on RIL for missing the target in four fiscal years beginning April 1, 2010 now stands at a cumulative USD 2.376 billion.

Government slaps $579 mn additional penalty on RIL

Last Updated: Monday, July 14, 2014, 15:53

The total penalty now stands at USD 2.37 billion. The penalty in the form of disallowing costs incurred on the field is for missing the target in 2013-14.

Gas allocation to be rejigged, CGD projects to get 1st priority

Last Updated: Monday, July 07, 2014, 16:05

Presently, urea-manufacturing fertiliser plants have the first right over the domestically produced gas, followed by LPG plants and power stations.

Oil Ministry mulling proposal to raise LPG prices by Rs 250 per cylinder

Last Updated: Friday, July 04, 2014, 15:42

The ministry is preparing a draft note for consideration of the CCPA on pricing of diesel, kerosene and LPG, official sources said here.

Oil Ministry orders inquiry into GAIL pipeline fire

Last Updated: Friday, June 27, 2014, 12:21

Oil Minister Dharmendra Pradhan has ordered a high-level inquiry into the GAIL pipeline fire in Andhra Pradesh that killed at least 15 persons.

Cabinet defers decision on gas price hike by 3 months

Last Updated: Wednesday, June 25, 2014, 18:41

In a much needed relief for the common man, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday put off the decision to hike gas price by three months stating that the new government should be given more time to decide on it.

Govt to announce new gas price by July 1

Last Updated: Thursday, June 05, 2014, 19:01

The government is likely to hike natural gas rates from July 1 after a new price formulation is approved by the Cabinet, a top Oil Ministry source said on Thursday .