Ever since the Central government announced the ‘Give It Up’ scheme, under which consumers gave up subsidy on refills, a total of 6,73,347 families in the State have opted out.
The Union Cabinet’s decision on Wednesday to grant extension to production sharing contracts for 10 blocks will benefit Cairn India Ltd (CIL)
In what may come as a relief to Cairn India and encourage it to increase the pace of investment, the Vedanta group company’s prolific Barmer oil and gas block has been granted an extension of 10 years or economic life of the field
State-run Indian Oil Corporation Ltd (IOCL), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) have declared a combined special dividend of `4,570 crore following pressure from the government,
China’s offshore oil and gas producer CNOOC Ltd reported its worst annual result since at least 2011, with revenue from its core oil and gas business tumbling 17 percent last year, but it expects to raise output 2017 as oil prices rebound.
The Modi government is planning to soon hold a second round of bidding for discovered small fields very soon, buoyed by the healthy response from investors, including first-time entrants in the hydrocarbon sector, in the just-conducted auctions.
The board of state owned behemoth Oil and Natural Gas Corporation Limited (ONGC) last month approved the development of R-series fields with a capital cost of Rs 4,104.63 crore, petroleum minister Dharmendra Pradhan informed Rajyasabha.
State-run oil marketer Hindsutan Petroleum Corp Ltd (HPCL) has selected Honeywell’s technologies for the expansion and modernisation of its refinery at Visakhapatnam in Andhra Pradesh, according to the American software-industrial company.
India’s top financial institution LIC wants its pound of flesh before it gives the green signal to the $13-billion Essar-Rosneft deal which would be the largest inflow of foreign direct investment into the country
India approved a policy on Wednesday allowing extra time to contractors of old blocks to unlock oil and gas reserves of more than 426 million barrels, worth over $21 billion, as it seeks to cut its dependence on imports.
The policy approved by the Union Cabinet will help companies including Cairn India and Oil and Natural Gas Corp that are exploring blocks awarded before 1999.