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OILFIELD LAW
GST on capital goods undermines promise of stable fiscal terms in new oilfield law: Industry to PuriFicci wrote to the Oil Minister about a GST hike. The increase affects capital goods in oil, gas, and CBM sectors. This action impacts cont...- Compensation for oil companies if changes in law shave off $5 mn in earnings a yearThe government is set to protect oil and gas explorers. New contracts will compensate them if laws reduce economic benefits. Adjustments to...
- No windfall tax on oil & gas companies after new law kicks in: Hardeep PuriThe new oilfield development bill passed by the Lok Sabha will prevent the imposition of windfall tax on oil and gas producers, stated petr...
- Parliament passes bill to amend law governing oilfields developmentParliament passed the Oilfields (Regulation and Development) Amendment Bill, 2024. The bill amends the law governing oil and gas exploratio...
- Oilfields bill an important legislation: PM ModiPrime Minister Narendra Modi lauded the Oilfields (Regulation and Development) Amendment Bill, 2024, passed in the Rajya Sabha, as crucial ...
- Changed oil market may help India extract better deals from suppliersIndia's fuel consumption is rising while global demand weakens, affecting next year's crude purchase negotiations. The govt plans to pass b...
- Bill in Parliament to bring policy stability in oil & gasIntroduced in Rajya Sabha, the Oilfields (Regulation and Development) Amendment Bill, 2024, aims to ensure policy stability for oil and gas...
- Petroleum Min proposes changes in law to include hydrogen in mineral oilThe petroleum ministry has proposed amendments to existing law to include cleaner sources of energy like hydrogen within the definition of ...
- Ahmedabad NCLT directs PNB to approach the Mumbai bench in Essar Shipping caseThe state-owned lender had approached the Ahmedabad NCLT against Essar Shipping, for the default committed by Essar Oilfield (now known as ...
- ONGC may withdraw staff from South Sudan as conflict worsensOfficials and industry executives said ONGC is considering the move as its Chinese partner CNPC has begun pulling out its workers from the ...
- Kazakhstan blocked stake purchase in biggest oilfield: ONGCONGC today confirmed that its USD 5 billion acquisition of a stake in Kazakhstan's biggest oilfield has been blocked by the Central Asian n...
- Government plans a comprehensive system to extend oilfield contractsOilfields are leased to companies for 15-25 years, but before the lease expires the company needs to know if it will retain the field.
- Government likely to clear Cairn-Vedanta deal tomorrow: SourcesThe Cabinet Committee on Economic Affairs is likely to clear London-listed mining group Vedanta Resources' USD 9.6 billion acquisition of C...
- CPM MP cautions against "back door maeuvers" in Vedanta dealSen said it was surprising "inaction" on part of state-owned ONGC, which is a 30 per cent stakeholder in Cairn India's mainstay Rajasthan o...
- Cairn-Vedanta deal: Tapan Sen seeks PM interventionAs the $9.6 bn acquisition of Cairn India by Vedanta Resources goes to Cabinet for approval, CPM leader Tapan Sen has raised several issues...
- ONGC in variance with government on royalty from Cairn fieldIn a move seen as an attempt to spoil Vedanta Resources' USD 9.6 bn acquisition of Cairn India, ONGC has demanded that the royalty it pays ...
- 'Cairn cannot sell stake to Vedanta without govt nod'Law ministry has opined that UK’s Cairn Energy cannot sell stake in its Indian unit to Vedanta Resources without government nod for transfe...
- Iraq boasts third-largest oil reserves, overtakes IranIraq reported on Monday a sharp rise in proven oil reserves that saw it leapfrog Iran into third place worldwide, as the war-battered count...
- Reliance oil deals with Kurdistan illegal: Iraqi Oil MinisterIraq has dubbed as "illegal" the contracts signed by Reliance Industries' for two oil blocks in Kurdistan saying companies signing oil deal...
- Ruias seek legal views on investment in IranRuias-owned Essar Group is seeking legal opinion on investing in an oilfield and building a refinery in Iran to see if it violated US sanct...
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