Iraq has postponed its oil and gas bidding round for 11 new blocks to April 25, a senior Iraqi oil official said on Thursday.
India strongly believes that its efforts to build oil and gas infrastructure should also benefit its neighbours, External Affairs MinisterSushma Swaraj said.
External Affairs Minister Sushma Swaraj on Thursday said that energy is the key engine of India’s economic growth and has also become a key element of New Delhi’s diplomatic engagement and outreach.
Metals and mining giant Vedanta Ltd, the owner of Cairn India Ltd, is revamping the latter’s operations and creating special business units to sharpen the company’s focus on oil and gas, two people aware of the development said.
Mexico is looking to enhance its energy ties with India through greater participation of Indian companies, especially in meeting its gasoline deficit.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Thursday attended the concluding session of the International Energy Forum along with Union External Affairs Minister Sushma Swaraj.
Two of the world’s top three oil consumers, China and India, have decided to jointly draw up a strategy for sourcing crude oil from the international market.
Indian Oil Corporation (IOC), the country’s largest petroleum retailer, said the $5 a barrel increase in crude oil prices over the past few days would reflect in the retail price of petrol and diesel with a lag.
Essar Oil has settled about 2 billion euros ($2.5 billion) in dues to Iran to cover previous oil purchases and still owes the country about $616 million, Chief Executive B. Anand said on Thursday.
Petrol Price Alert: No Directive From Government To Defer Raise Ahead Of Karnataka Elections, Says Pradhan
Oil Minister Dharmendra Pradhan today said the government has not asked state-owned oil firms to defer raising the retail price of petrol and diesel ahead of elections in Karnataka.