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Open Acreage Licensing Policy

12 Mar 2019

Govt defers bid deadline for OALP-II by a month to April 10

Bids for the 14 blocks offered in OALP-II bid round, covering an area of 29,333 square kilometres, were to close Tuesday.

oil and gas exploration

11 Mar 2019

Govt overhauls oil, gas exploration policy; no profit to be charged on output

Existing contracts already having marketing and pricing freedom would continue on the existing terms.

21 Apr 2015

Govt exempts ONGC, OIL from LPG subsidy payments

In a big boost to domestic oil and gas exploration, the government has decided to exempt state-owned ONGC and Oil India from paying for LPG subsidies in current fiscal, Oil Secretary Saurabh Chandra said Tuesday.

11 Jan 2015

Adani Group, Woodside sign pact on LNG sourcing and marketing

Business conglomerate Adani Group has signed an agreement with Australian energy major Woodside for sourcing of LNG as well as cooperation in oil and gas exploration and production.

09 Dec 2014

Chevron and ONGC Videsh join New Zealand oil, gas search

New Zealand awarded 15 oil and gas exploration licences on Tuesday, with U.S. giant Chevron and India`s ONGC Videsh joining the hunt in the South Pacific country for the first time.

21 Aug 2014

Oil Ministry wants revenue sharing for future oil contracts

Seeking to revive interest in oil and gas exploration by simplifying rules, the Oil Ministry is looking at replacing the controversial Production Sharing Contracts (PSC) with simpler revenue-sharing regime.

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