Ministry is setting stiff targets for state explorers like ONGC to reverse the declining trend in oil and gas output in recent years as it ...

This is expected to further delay the 10th auction round of exploration blocks, government and industry sources said.

In the proposed new regime, it has also specified that the government would have the right to impose financial penalties on contractors for...

In the next Nelp auction, 46 explorations blocks in 13 sedimentary basins may be offered though the number could change, officials said.

RN Chaubey, former DGH, has strongly contested the grounds on which the oil minister had overruled his recommendations that Reliance Indust...

Gujarat government had on January 16 given its approval for offering 9 blocks in Cambay basin for NELP but refused support later on.

Cairn India reported a net profit of Rs 2,884 crore, down 5.1%, as compared to the net profit of Rs 3,041 crore in previous quarter.

Government today put on auction the gas discovery area it snatched from Reliance Industries in KG-D6 block.

India may launch its largest ever auction of oil and gas block next month at completely revamped terms after the current profit-sharing reg...

"I am confident of settling the bank guarantee issue with Reliance within a fortnight," Moily told reporters when asked if he would set a t...

The last round, the 9th under the NELP, was held in 2011 when 74 bids were received for 33 out of the 34 blocks on offer.

"We would like to go for it (the 10th round of New Exploration Licensing Policy or NELP)," Oil Minister M Veerappa Moily said.

The government is likely to launch the tenth round of auction under New Exploration Licensing Policy (NELP) this fiscal.

The decision will further delay the tenth round of NELP that has been put on hold till the committee submits its report.

As a result of the MoD's objections, ONGC has not been able to take up exploration work in two of its already allotted KG Basin blocks.

The power ministry has the fertiliser ministry demanding the government’s share of profit from the gas finds in KG basin in kind.

Twenty months ago, when I presented the first Budget of the UPA Government, I asked Honourable Members - and the people of this country - t...