‘Exploration Activities Of Oil, ONGC To Be Cleared By DGH’

‘Exploration Activities Of Oil, ONGC To Be Cleared By DGH’

Citing poor performance by autonomous national oil companies (NOC) ONGC and Oil India Ltd, the petroleum ministry has further tightened the screws on them by handing over approval of their exploration and development activities to the upstream technical arm Directorate General of Hydrocarbons (DGH).

Mega Oil PSU: ONGC-HPCL Deal Not Done Yet, But Here’s Government’s Next Big Merger Move

Mega Oil PSU: ONGC-HPCL Deal Not Done Yet, But Here’s Government’s Next Big Merger Move

The government seems to be wasting no time in its quest to create huge energy PSUs of global scale, as, while a deal for ONGC’s proposed takeover of HPCL is yet to be finalised, the Centre has already embarked on its next ambitious project: combining the behemoth refiner and marketer Indian Oil Corp and smaller oil exploration firm Oil India Ltd, according to a TV news report.

India Gives Iran $11 Billion `Best Offer’ On Farzad-B Field

India Gives Iran $11 Billion `Best Offer’ On Farzad-B Field

An Indian consortium is willing to spend as much as $11 billion to develop a giant Iranian natural gas field and build the infrastructure to export the fuel as long as the Persian Gulf nation guarantees a “reasonable return” on the project, according to the company leading the group.

India Gives Iran $11 Billion ‘Best Offer’ on Farzad-B Gas Field

India Gives Iran $11 Billion ‘Best Offer’ on Farzad-B Gas Field

An Indian consortium is willing to spend as much as $11 billion to develop a giant Iranian natural gas field and build the infrastructure to export the fuel as long as the Persian Gulf nation guarantees a “reasonable return” on the project, according to the company leading the group.