The oil ministry has directed state oil firms to prepare a roadmap for creating integrated firms. Oil secretary Kapil Dev Tripathi held a short meeting with the chairmen of state oil firms last week and asked them to submit their respective plans for integration within weeks
In a dialogue with the local community from Neduvasal village, Tamil Nadu, senior Union ministers on Wednesday assured them that the Government will not carry out any E&P activities without addressing concerns of stakeholders.
In a significant decision, the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi on Wednesday approved a policy for grant of extension to the Production Sharing Contracts (PSC) signed by Government of India awarding Pre-NELP Exploration Blocks to enable and facilitate investment to extract the remaining reserves.
Cabinet approves closure/winding up of CREDA HPCL Biofuel Ltd (CHBL) and IndianOil – CREDA Biofuels Ltd. (ICBL)
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi on Wednesday approved closure/winding up of CREDA HPCL Biofuel Ltd (CHBL) and IndianOil – Chhattisgarh Renewable Energy Development Agency (CREDA) Biofuels Limited (ICBL).
During the last week, India observed series of positive developments resulting from fall in oil prices, strengthening of rupee and BJP’s sterling show in the Uttar Pradesh (UP) elections.
India is exploring setting up a new payments mechanism for trade with Iran, after its old sanctions workaround broke down, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo.
Asia’s naphtha crack edged up to $75.23 a tonne on Wednesday, supported by firm demand and weaker Brent crude, traders said. South Korea’s Lotte Chemical is in talks to buy naphtha for June 2017 to May 2018 delivery and this came shortly after YNCC and LG Chem had recently closed their term deals with sellers […]
State-owned Oil and Natural Gas Corp (ONGC) has sought a review of the natural gas pricing formula as rates have dropped below cost.
The exploration giant ONGC TripuraAsset today ruled out any plan of shifting its forward baseoffice from the state to Assam. The management has decided to further expand the activities in the state. Refuting the recent media report regarding shifting of ONGCbase office to Cachar in South Assam, an ONGC release said it will employ additionalresources […]
Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC-led effort to cut output.