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Government nods royalty payment to states on crude oil productionGovt agreed to pay states like Gujarat & Assam, from its annual budget, the difference between royalty paid by operators of some oil fields...- GAIL will put RIL interest share in PSB term depositsThe government had in November hiked domestic natural gas prices by 33% to $5.61 per million British thermal unit.
- Petrol, diesel prices may be hiked to fund fuel upgradePetrol and diesel prices will be hiked by 75 paise a litre each if the govt accepts panel report that recommends fuel standards be upgraded.
- Finance Ministry not parting with cess for developing oil sectorRs 118,500 cr cess on the output of crude oil and natural gas in 3 decades, but not even 1% of this could be utilised for developing the se...
- Vijay Kelkar panel to submit interim report in next few days: Veerappa MoilyVijay Kelkar Committee will present an interim report on roadmap for enhancing domestic oil & gas production in next few days, Moily said.
- India to build its first strategic oil storage by January 2014India will build its first strategic oil storage by January in an effort to insulate itself from supply disruptions, Oil Minister M Veerapp...
- Private refiners to get special insurance coverThe measures is part of the plan outlined recently by oil minister Veerappa Moily to the Prime Minister to cut India's oil import bill by $...
- GAIL to raise Rs 1,000 cr through domestic bond issueGAIL (India) Ltd today said it will raise Rs 1,000 crore through a domestic bond issuee to part-fund its capital expenditure in the current...
- Kelkar Committee on oil and gas invites comments from stakeholdersThe Vijay Kelkar committee, which has recommended ways to substantially reduce India’s energy import dependency by 2030, has invited commen...
- India mulls quadrupling strategic crude oil stockpileIndia is considering quadrupling the size of strategic crude oil stockpile it is building as insurance against supply disruption.
- Fear of scrutiny by auditors and CBI chokes working of directorate general of hydrocarbonsNobody wants to take decisions. Even in the ministry, people have reported sick on days when crucial file had to be signed.
- India to have strategic oil reserve by October 2011India will complete building its first strategic crude oil storage by October 2011 in an effort to insulate itself from supply disruptions.
- Cess on Cairn oil justifiedCairn India finally agreeing to bear the cess on its crude output is welcome.
- 'India to form crude oil reserve of 5 mmt'Government has decided to make a strategic oil reserve of five million metric tonne (MMT) at a cost of Rs 2,400 crore to meet the demand of...
- Petro ministry may divest 49% govt holding in Biecco LawrieThe ministry of petroleum is considering to disinvest 49% government’s equity in the public sector Biecco Lawrie (erstwhile British India E...
- Vizag to host India's strategic crude reserveIndia is planning to build its first strategic crude reserve at Visakhapatnam in Andhra Pradesh. The reserve will be in an underground rock...
- UP to soon house 250-cr petro IITPeeparpur in Sultanpur district of Uttar Pradesh has been selected as the venue for setting up an IIT-like institute exclusively for the pe...
- Govt may use oil cess to cut losses of cosFunds collected through the oil industry development cess is likely to be used for minimising oil marketing companies’ (OMCs) losses on acc...
- OIL gets okay to up stake in Numaligarh RefineryThe Union Cabinet has approved the enhancement of Oil India’s stake in Numaligarh Refinery (NRL) to 26%.
- CCEA clears 5m-tonne strategic oil reserveThe Cabinet Committee on Economic Affairs (CCEA) on Friday approved building 5m tonnes of strategic crude oil reserves at an estimated cost...
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