The domestic natural gas price in the country is likely to be hiked over 10 per cent to $3.7 per million British thermal units (mBtu) from April 1 following a spike in prices in the global gas hubs. The move is likely to boost the earning of producers such as ONGC but hurt the consumers […]
ONGC’s third-quarter net profit jumped 65 per cent to Rs 8,262.70 crore on higher prices for oil and gas output, from Rs 5,014.67 crore in the same quarter of the previous financial year. However, ONGC’s net profit saw a marginal decline compared with the Rs 8,264.61-crore profit reported during the quarter ended September 30, 2018. […]
Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the IMF said on Saturday, and she cautioned against spending money on “white elephant projects”. “With revenues down, fiscal deficits are only slowly declining, despite significant reforms on both the spending and revenue sides, including the introduction of […]
The consortium of H-Energy East Coast Private Limited and HPCL has emerged as the top bidder for the city gas and CNG licensing bids in Bengal. In the 10th bid round, the consortium bid for all the four geographical areas in the state put up for auction — Darjeeling, Jalpaiguri and Uttar Dinajpur districts; Howrah […]
The government on Sunday offered 23 oil and gas blocks for bidding under the Open Acreage Licensing Policy (OALP), hoping to attract investments of up to $700 million. “In OALP-III, 23 blocks in 12 sedimentary basins are being offered. Of these, five are coal-bed methane (CBM) blocks. The total area on offer is about 31,000 […]
State-owned Oil and Natural Gas Corporation plans to redraw its vision document for 2040 to outline its strategic goals as an integrated energy firm for the next two decades.
The oil ministry is hopeful of a cut in customs duty on liquefied natural gas (LNG) to zero per cent from 2.5 per cent in the interim budget on February 1. Officials said there was a possibility of a reduction in the customs duty on LNG as it would help in the government’s effort to […]
Decks have been cleared for the first LNG terminal in Bengal with Mumbai-based H-Energy planning to start construction of the Rs 1,500-crore project from June.
The impact of the recent decision by oil cartel Opec to cut output will be felt only in January, the government said on Tuesday.
The tiny, wealthy Persian Gulf state of Qatar will withdraw from Opec in January, the country’s energy minister said on Monday.
Anil Agarwal’s Cairn Oil & Gas is scouting for global partners to develop the 41 small and discovered blocks it won in the recent auction.
Great Eastern Energy Corporation Ltd (GEECL) plans to invest $2 billion in its Raniganj (south) block to explore shale gas. The block is estimated to have reserves of 1.4-6.63 trillion cubic feet (tcf).