India will auction 60 discovered small oil and gas fields with the potential to produce 194.65 million tonnes of oil and oil equivalent gas, the government said in a tweet after a cabinet meeting.
Moody’sInvestors Service has lowered government-owned oil explorer Oil India’s Baseline Credit Assessment (BCA) saying increased acquisition and shareholder payments have weakened the company’s credit profile.
ET reported that state-owned oil refiner Bharat Petroleum Corporation Ltd (BPCL) has written to the oil ministry proposing its integration with gas-transmission utility GAIL or upstream firm Oil India Ltd (OIL), petroleum minister Mr Dharmendra Pradhan said.
State-owned oil refiner Bharat Petroleum Corporation Ltd (BPCL) has written to the oil ministry proposing its integration with gas-transmission utility GAIL or upstream firm Oil India Ltd (OIL), petroleum minister Dharmendra Pradhan said today.
An association of officers of state-owned Oil and Natural Gas Corporation (ONGC) has sought the intervention of Prime Minister Narendra Modi to stave off the government’s plans to privatise 15 identified oil and gas fields.
Credit Suisse has upgraded Oil India to outperform from neutral and also raised target price to Rs 425 from Rs 300 per share following increase in crude oil prices.
Amid reports that the government plans to offer 60% stake in government-owned companies’ existing oil and gas fields to private players, state-run ONGC on Friday wrote a letter to the Prime Minister opposing any such move.
The chief of the Directorate General of Hydrocarbons has said the government is following a transparent method to pick state firms’ oilfields for privatisation with a single aim of raising local output, rebutting ONGC executives’ charge that the government is not being fair in proposing to take away its fields.
Hindustan Oil Exploration Company Ltd (HOEC) said it has commenced the first commercial gas sale from Dirok gas field in Assam.
Over a period of three days starting Friday, 7,00 delegates—mostly petroleum geophysicist will brainstorm over new technologies available across the world which can be used to improve oil and gas exploration in the country.