Indonesia will offer 40 conventional and 3 unconventional oil and gas blocks in a tender this year, acting oil and gas director general Ego Syahrial said on Thursday
India has launched the first auction of exploration blocks under its new licensing policy and sought bids for 55 blocks spread across the country.
Oil Minister Dharmendra Pradhan today remained non-committal on cutting excise duty on petrol and diesel, which have touched record highs, saying merely that the government is keeping a close watch on the situation.
The rise in Indian basket of imported crude oils pushed the petrol price in the national capital to Rs 71.56 a litre on Thursday, its highest level in over three years.
Exxon Mobil Corp signed a deal with Ghana on Thursday to explore for oil in the Deepwater Cape Three Point offshore (DWCTP) oilfield.
Reuters reported that gas utility GAIL (India) Ltd has renegotiated the terms of a long-term liquefied natural gas (LNG) purchase deal with Russia’s Gazprom, the Indian company said
Bureau of Indian Standards (BIS), India’s specifications and standards regulatory body, announced it has revised the standards on petroland diesel as per Bharat Stage (BS) VI fuel norms from the earlier BS IV emission norms.
There is a huge opportunity for the US to export LNG to India and China in the next five years as they push to replace coal, the head of the International Energy Agency has said as he highlighted the growing importance of the two nations in the energy market.
After “one paisa” bids spoilt the initial auction rounds, oil regulator PNGRBhas proposed to radically change the bidding parameters for obtaining a licence to retail CNG and piped cooking gas in cities.
Promoters whose debt-laden companies are being auctioned by banks should be allowed to make a bid for their own firm if they have not siphoned off money, said Vedanta Group chairman Anil Agarwal, who has himself bid for Electrosteel which will help add 10%-20% value to his iron ore business.