Petroleum and Natural Gas

News: Fuel retailers review petrol and diesel prices every fortnight and make adjustments based on the global rates of the products. Since last price change, there has been a decrease in international prices of both petrol and diesel, exchange rate depreciated. “Combined impact of these factors warrants a downward revision ...

News: The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, gave its approval for the signing of a Memorandum of Understanding (MoU) between the Government of India and the Government of Nepal for the construction of a petroleum products pipeline from Raxaul (India) to Amlekhgunj (Nepal) and re-engineering ...

News: Iran has promised India the licence to develop ONGC-discovered Farzad-B gas field in the Persian Gulf. A consortium of ONGC Videsh Ltd (the overseas arm of Oil and Natural Gas Corp), Oil India Ltd and Indian Oil Corp had discovered the 12.8 Trillion cubic feet of gas reserves in ...

News: The government plans to push power sector reforms through its new coal supply mechanism, by ensuring that it benefits only those state distribution companies that agree to raise tariffs periodically and cut distribution losses. The government is working on the incentive-based scheme to award coal supply contracts to state ...

News: The government has approved Rs 40,885 crore revival package for 46 ailing PSU’s Including HMT Ltd, Cement Corporation of India, Konkan Railway Corporation, ITI Ltd and Bharat Coking Coal. The government has approved revival of 46 CPSEs (central public sector enterprises) envisaging a total assistance of Rs 40,885 crore (cash ...

News: India will allow 100% bio diesel for vehicles. The decision will pave way for manufacture of new engines that can use this fuel. The compatibility of vehicle to level of bio-diesel blend will be defined by the vehicle manufacturer and the same will also be displayed on the vehicle. ...

News: With the new vision of gas-based economy of central government, Eastern India is all set to get a lion’s share in the country’s growth story, as PM inaugurates the first phase construction of the Jagdishpur Haldia pipeline. Bihar now gets connected to the natural gas pipeline network of India. ...

News: Iran reached an agreement on its nuclear programme with six world powers led by the US, a development that could end a nearly four-decade-old standoff with the West. The agreement limits Iran’s nuclear capabilities for a decade and puts in place a tighter inspection regime in return for lifting ...

News: Running a sustained audio-visual campaign to rein in welfare costs, the three public sector oil companies have managed to convince over one million consumers across India to surrender their LPG subsidy. Around 15.3 crore consumers are registered with the three companies, Indian Oil (Indane), Bharat Petroleum (Bharat Gas) and ...

News The government will start keeping a strategic oil reserve from this month, which would be located at Visakhapatnam in Andhra Pradesh. India had no strategic oil reserve till now and the initiative would help it tide over any crisis on the oil front. The plan is to build a ...