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Oil Ministry News
Big disappointment for public day after Diwali! LPG cylinder prices hiked by over Rs 2
Fri, Nov 09, 2018
Just a day after Diwali, the common man has received yet another bad news, this time it is all about his cooking gas. It has been announced that Domestic cooking gas, LPG cylinder price has been hiked by over Rs 2!
India yet to work out payment mechanism for Iran oil imports, government official tells CNBC TV18
Fri, Oct 12, 2018
Oil minister Dharmendra Pradhan has conveyed that New Delhi will continue to buy Iranian oil to some extent, said economic affairs secretary at the finance ministry Subhash Chandra Garg.
India's oil ministry seeks cut in excise duty on petrol, diesel in budget
Mon, Jan 22, 2018
India`s oil ministry is pushing for a cut in excise duty on petrol and diesel in the upcoming 2018/19 budget to cushion the impact of rising oil prices on its vast consumer base, two oil ministry officials told Reuters on Monday.
Over 60,000 petrol pumps in India, 45% jump in 6 yrs
Wed, Nov 29, 2017
With 60,799 outlets dispensing petrol and diesel at the end of October, India is behind only US and China in number of petrol pumps, data available from Petroleum Planning & Analysis Cell of the Oil Ministry.
ONGC officers seek PM intervention to stall Oil Ministry move
Mon, Nov 27, 2017
Oil Ministry has identified 15 producing oil and gas fields of ONGC and Oil India Ltd for handing over to private firms on the premise of raising output.
ONGC wants higher gas price to produce KG, Kutch discoveries
Sun, Nov 26, 2017
Gas discoveries in shallow sea off Andhra Pradesh on the east, and off Gujarat on the west are economically unviable to produce at the current government-mandated price of $2.89 per million British thermal unit, a senior company official said.
You can soon buy petrol, diesel online
Thu, Sep 28, 2017
Oil Ministry plans took make petrol and diesel products available for Indian citizen. So far, only price change in these petroleum products can be seen online.
Govt plans to sell stake in ONGC oilfields to private firms
Wed, Sep 27, 2017
Sources said initially ONGC got service companies involved in raising output by offering them incentive if production was raised by pre-set milestones over and above the current levels.
India renegotiates LNG deal with Exxon to import it at affordable rate: Dharmendra Pradhan
Sun, Sep 10, 2017
India has been trying to leverage its position as one of the biggest energy consumers to strike better bargains for its companies.
Govt slaps Rs 1700 crore penalty on Reliance Industries, BP
Tue, Aug 15, 2017
The Production Sharing Contract (PSC) allows RIL and its partners BP Plc of the UK and Canada's Niko Resources to deduct all capital and operating expenses from the sale of gas before sharing profit with the government.
Oil ministry mulls home delivery of petrol, diesel
Fri, Apr 21, 2017
Annually, Rs 2,500 crore of fuel is bought at petrol pumps and now a part of it being talked of being home delivered.
Oil ministry red-flags Sunday holiday for fuel outlets
Thu, Apr 20, 2017
Already, the All India Petroleum Dealers Association, which claims to represent 80 per cent of the 53,224 petrol pumps of public sector oil firms, has said it is not participating in the closure exercise.
Reliance Industries, other CBM producers get pricing, marketing freedom
Sun, Apr 16, 2017
The policy is expected to incentivise the CBM operation in the country to boost gas production.
Reliance Industries KG-D6 gas output drops to 9% of target: Pradhan
Tue, Mar 21, 2017
"The gas production from D1 and D3 fields in this (KG-D6) block (of RIL) is much less than the production rates approved in addendum to Initial Development Plan (AIDP)," he said.
ONGC's $2.4 billion Mozambique deal under Oil Min scanner
Sun, Feb 12, 2017
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), had in June 2013 bought 10% stake in the Offshore Area 1 from Videocon Group for $2.475 billion. This stake was later divided between OVL and Oil India Ltd in 60:40 ratio.
India to fill Mangalore strategic reserve with United Arab Emirates oil
Wed, Jan 25, 2017
India signed a deal with the United Arab Emirates (UAE) on Wednesday that allows the Gulf nation to fill half of an underground crude oil storage facility at Mangalore that is part of New Delhi`s strategic reserve system.
India's fuel consumption to hit 200 million tonnes in 2016-17: Oil Ministry
Mon, Jan 16, 2017
India's fuel consumption is likely to hit 200 million tonnes in 2016/17, an oil ministry executive said on Monday, in what would be the highest such level in at least 16 years.
Customers won't have to pay MDR charges at petrol pumps, Oil Minister Dharmendra Pradhan says
Mon, Jan 09, 2017
Pradhan said that Oil companies and banks discussing who is to bear MDR charges, adding, "Petrol pumps will continue to accept card payments post January 13."
Egypt increases fuel prices after devaluation
Fri, Nov 04, 2016
Fuel prices were to rise dramatically in Egypt on Friday after the central bank floated the currency to address a dollar crunch that has threatened to cause some imports to grind to a halt.
Sudan hikes fuel prices amid foreign currency shortage
Fri, Nov 04, 2016
Sudan hiked prices of petrol and diesel Friday by about 30% as months of fuel shortages caused by a foreign currency shortage have put pressure on the country's already sanctions-hit economy.