Oil and Natural Gas Corporation,
along with state-run Oil India Ltd and Turkish Petroleum Corp
(TPAO), is likely to bid for Iraq`s giant Halfaya oilfield
under that country`s second licensing round this week.
Reliance Industries has become
the largest natural gas producer in the country with its over
50 million standard cubic meter per day (mmscmd )output
surpassing state-run Oil and Natural Gas Corp`s output.
Five Indian companies are among the top 15 Asian energy companies, racing past China which had three companies in the list, according to Platts, a global provider of energy and commodities information.
The Petroleum Ministry has
proposed a 33 per cent hike in the price of natural gas
produced by ONGC and Oil India and gradually increase it to
USD 4.20 per mmBtu set for gas from Reliance Industries` KG-D6
Steel tycoon Lakshmi N. Mittal and
the Oil and Natural Gas Corporation have decided to wind up a firm they had set up four years ago for trading in oil and gas
as the joint venture has failed to take off.