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Oil Ministry

Big disappointment for public day after Diwali! LPG cylinder prices hiked by over Rs 2

Big disappointment for public day after Diwali! LPG cylinder prices hiked by over Rs 2

Fri, Nov 09, 2018

Just a day after Diwali, the common man has received yet another bad news, this time it is all about his cooking gas. It has been announced that Domestic cooking gas, LPG cylinder price has been hiked by over Rs 2!

India yet to work out payment mechanism for Iran oil imports, government official tells CNBC TV18

India yet to work out payment mechanism for Iran oil imports, government official tells CNBC TV18

Fri, Oct 12, 2018

Oil minister Dharmendra Pradhan has conveyed that New Delhi will continue to buy Iranian oil to some extent, said economic affairs secretary at the finance ministry Subhash Chandra Garg.

India's oil ministry seeks cut in excise duty on petrol, diesel in budget

India's oil ministry seeks cut in excise duty on petrol, diesel in budget

Mon, Jan 22, 2018

India`s oil ministry is pushing for a cut in excise duty on petrol and diesel in the upcoming 2018/19 budget to cushion the impact of rising oil prices on its vast consumer base, two oil ministry officials told Reuters on Monday.

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Over 60,000 petrol pumps in India, 45% jump in 6 yrs

Over 60,000 petrol pumps in India, 45% jump in 6 yrs

Wed, Nov 29, 2017

With 60,799 outlets dispensing petrol and diesel at the end of October, India is behind only US and China in number of petrol pumps, data available from Petroleum Planning & Analysis Cell of the Oil Ministry.

ONGC officers seek PM intervention to stall Oil Ministry move

ONGC officers seek PM intervention to stall Oil Ministry move

Mon, Nov 27, 2017

Oil Ministry has identified 15 producing oil and gas fields of ONGC and Oil India Ltd for handing over to private firms on the premise of raising output.

ONGC wants higher gas price to produce KG, Kutch discoveries

ONGC wants higher gas price to produce KG, Kutch discoveries

Sun, Nov 26, 2017

Gas discoveries in shallow sea off Andhra Pradesh on the east, and off Gujarat on the west are economically unviable to produce at the current government-mandated price of $2.89 per million British thermal unit, a senior company official said.

You can soon buy petrol, diesel online

You can soon buy petrol, diesel online

Thu, Sep 28, 2017

Oil Ministry plans took make petrol and diesel products available for Indian citizen. So far, only price change in these petroleum products can be seen online.

Govt plans to sell stake in ONGC oilfields to private firms

Govt plans to sell stake in ONGC oilfields to private firms

Wed, Sep 27, 2017

Sources said initially ONGC got service companies involved in raising output by offering them incentive if production was raised by pre-set milestones over and above the current levels.

India renegotiates LNG deal with Exxon to import it at affordable rate: Dharmendra Pradhan

India renegotiates LNG deal with Exxon to import it at affordable rate: Dharmendra Pradhan

Sun, Sep 10, 2017

India has been trying to leverage its position as one of the biggest energy consumers to strike better bargains for its companies.

Govt slaps Rs 1700 crore penalty on Reliance Industries, BP

Govt slaps Rs 1700 crore penalty on Reliance Industries, BP

Tue, Aug 15, 2017

The Production Sharing Contract (PSC) allows RIL and its partners BP Plc of the UK and Canada's Niko Resources to deduct all capital and operating expenses from the sale of gas before sharing profit with the government.

Oil ministry mulls home delivery of petrol, diesel

Oil ministry mulls home delivery of petrol, diesel

Fri, Apr 21, 2017

Annually, Rs 2,500 crore of fuel is bought at petrol pumps and now a part of it being talked of being home delivered.

Oil ministry red-flags Sunday holiday for fuel outlets

Oil ministry red-flags Sunday holiday for fuel outlets

Thu, Apr 20, 2017

Already, the All India Petroleum Dealers Association, which claims to represent 80 per cent of the 53,224 petrol pumps of public sector oil firms, has said it is not participating in the closure exercise.

Reliance Industries, other CBM producers get pricing, marketing freedom

Reliance Industries, other CBM producers get pricing, marketing freedom

Sun, Apr 16, 2017

The policy is expected to incentivise the CBM operation in the country to boost gas production.

Reliance Industries KG-D6 gas output drops to 9% of target: Pradhan

Reliance Industries KG-D6 gas output drops to 9% of target: Pradhan

Tue, Mar 21, 2017

"The gas production from D1 and D3 fields in this (KG-D6) block (of RIL) is much less than the production rates approved in addendum to Initial Development Plan (AIDP)," he said.

ONGC's $2.4 billion Mozambique deal under Oil Min scanner

ONGC's $2.4 billion Mozambique deal under Oil Min scanner

Sun, Feb 12, 2017

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), had in June 2013 bought 10% stake in the Offshore Area 1 from Videocon Group for $2.475 billion. This stake was later divided between OVL and Oil India Ltd in 60:40 ratio.

India to fill Mangalore strategic reserve with United Arab Emirates oil

India to fill Mangalore strategic reserve with United Arab Emirates oil

Wed, Jan 25, 2017

India signed a deal with the United Arab Emirates (UAE) on Wednesday that allows the Gulf nation to fill half of an underground crude oil storage facility at Mangalore that is part of New Delhi`s strategic reserve system.

India's fuel consumption to hit 200 million tonnes in 2016-17: Oil Ministry

India's fuel consumption to hit 200 million tonnes in 2016-17: Oil Ministry

Mon, Jan 16, 2017

India's fuel consumption is likely to hit 200 million tonnes in 2016/17, an oil ministry executive said on Monday, in what would be the highest such level in at least 16 years.

Customers won't have to pay MDR charges at petrol pumps, Oil Minister Dharmendra Pradhan says

Customers won't have to pay MDR charges at petrol pumps, Oil Minister Dharmendra Pradhan says

Mon, Jan 09, 2017

Pradhan said that Oil companies and banks discussing who is to bear MDR charges, adding, "Petrol pumps will continue to accept card payments post January 13."

Egypt increases fuel prices after devaluation

Egypt increases fuel prices after devaluation

Fri, Nov 04, 2016

Fuel prices were to rise dramatically in Egypt on Friday after the central bank floated the currency to address a dollar crunch that has threatened to cause some imports to grind to a halt.

Sudan hikes fuel prices amid foreign currency shortage

Sudan hikes fuel prices amid foreign currency shortage

Fri, Nov 04, 2016

Sudan hiked prices of petrol and diesel Friday by about 30% as months of fuel shortages caused by a foreign currency shortage have put pressure on the country's already sanctions-hit economy.

Asked Finance Ministry to halve ad valorem cess, says Dharmendra Pradhan

Asked Finance Ministry to halve ad valorem cess, says Dharmendra Pradhan

Mon, Jun 06, 2016

Talking about the various updates in the oil sector, he said that the government is fully prepared with the new revenue sharing model. He said, “The government will launch roadshows across the country to auction 59 oil blocks. Companies from India and overseas will get a chance to work in India,” he said.

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