The government is likely to soon permit supermarkets to retail petrol and diesel in its bid to ease fuel access to end consumers. The Ministry of Petroleum and Natural Gas in this regard may come up with a Cabinet note to relax existing norms, the Business Standard reported, citing sources. The government is expected to […]
India’s natural gas production grew for the second consecutive year in 2018-2019, primarily due to increase in production from fields operated by government-owned Oil and Natural Gas Corporation (ONGC). India’s cumulative natural gas production grew 0.69 per cent to 32,873 Million Standard Cubic Meter (MMSCM) last fiscal, as compared to 32,649 MMSCM produced in financial […]
India’s crude oil production fell over 4 per cent in the financial year 2018-19 after aging fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) missed the target, official data showed. India produced 34.2 million tonnes of crude oil in the fiscal year ended March 31, down from 35.7 million […]
To get a slice of the 20-million-tonne-plus annual sales of packaged domestic liquefied petroleum gas (LPG), parallel marketers, including Reliance Industries (RIL), Nayara Energy and Total, have asked the government of India to allow them to have a level-playing field with the state-run oil marketing companies (OMCs). The companies recently met petroleum and natural gas […]
The price of natural gas may go up by as much as 18% from April 2019, according to a CARE Ratings’ report. As per the New Domestic Gas policy of 2014, which suggests revising natural gas prices every six months, the government may be revising domestic gas prices effective from 1 April 2019, according to […]
India’s natural gas production increased by 4.2 per cent to 2.87 billion cubic meters (bcm) in December 2018 over a year ago. Natural gas production by ONGC alone during the month stood at 2.20 bcm, which is 9.81 per cent higher when compared with December 2017. But Oil India Limited (OIL) produced 0.23 bcm only […]
India’s Reliance Industries has shut down an oil and gas field in the offshore Krishna-Godavari basin after its production rates began to decline several months ago, the company said in a regulatory filing. The field yielded first oil back in 2008. Reliance has till date made 19 oil and gas discoveries in the KG basin. It is […]
The Oil and Gas Climate Initiative (OGCI), a voluntary alliance of some of the biggest oil companies in the world, has said that it had made its first three investments in supporting the low-carbon industry and more efficient engine technology. This is the first specific action by the big oil companies to support the growth […]
Russia’s Gazprom ended U.S. oil and gas giant ExxonMobil’s 12-year reign at the top of the 2017 S&P Global Platts Top 250 Global Energy Company Rankings, while India’s Reliance Industries rose to the third spot. Platts said integrated oil and gas companies were not the biggest movers up, even as they continue to make a […]
Despite incentives, the response to India’s auction for discovered small oil and gas fields has been muted primarily due to low crude and gas prices, low reserve potential and challenging geology, ICRA said in a report. “It is to be noted that although bids were received for all the onshore contract areas and on an […]
