Category: Oil & Gas

CHENNAI: Five fuel retail outlets that would be operated by prison inmates at various locations were inaugurated by Tamil Nadu chief minister K Palaniswami through video-conferencing here Friday. Set up at a cost of Rs 10 crore by IndianOil Corporation, the outlets were located in Puzhal, Vellore, Palayamkottai, Pudukottai and Coimbatore. The prisons department and […]

NEW DELHI: State-run fuel retailers on Thursday began distributing LoIs (Letters of Intent) for expanding their retail network for the first time in almost five years in a bonanza of at least 20,000 petrol pumps for those seeking a source of livelihood ahead of the general election. Oil minister Dharmendra Pradhan handed over the first […]

NEW DELHI: The government has asked flagship explorer ONGC and its north-east sibling Oil India Ltd to sell 66 of their small oil and gas fields to private firms oil minister Dharmendra Pradhan told reporters on Thursday. The government has asked them for an enhanced production profile for the 66 fields by inducting private and […]

NEW DELHI: Saudi Aramco is in talks with Reliance Industries Ltd for investing in petrochemicals and refinery projects in India, even as the $44-billion mega-refinery project proposed to be built at Ratnagiri in Maharshtra, in which the World’s largest oil exporter has a substantial stake, has tripped on land hurdle. “There is a lot of […]

NEW DELHI: The government has switched back to the two-decades-old method of auctioning oil and gas blocks in areas with poor prospectivity on the basis of exploration work committed by bidders instead of awarding acreages to companies offering the highest revenue share. In highly prospective areas, the weightage of revenue share for awarding of blocks […]

MUMBAI: Petrol pumps across Maharashtra, including over 500 in Mumbai Metropolitan Region, will remain shut for 20 minutes on Wednesday, from 7pm as a tribute to the 44 jawans who were killed in the recent Pulwama attack. Federation of All-Maharashtra Petrol Dealers’ Association (FAMPEDA) president Uday Lodh said that petrol pumps attached to the Consortium […]

UPDATE: Indian Oil has denied that there has been any Aadhaar data leak through Indane Gas website. In a statement, the company said, “Indian Oil in its software captures only the Aadhaar number which is required for LPG subsidy transfer. No other Aadhaar related details are captured by Indian Oil. Therefore, leakage of Aadhaar data […]

NEW DELHI: Flagship explorer ONGC on Thursday posted a 65% jump in its third quarter profit at Rs 8,262 crore, or Rs 6.44 per share, against Rs 5,014.67 crore, or Rs 3.91 a share, in the previous corresponding period as higher oil prices made up for a fall in output. The company realised a price […]

NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) on Thursday reported a 65 per cent jump in its third quarter net profit on accruing higher prices for oil and gas it produces. Net profit in October-December at Rs 8,262.70 crore, or Rs 6.44 per share, was higher than Rs 5,014.67 crore, or Rs 3.91 […]

New Delhi, Feb 5 () As many as 225 bids by companies such as Adani Gas, Indian Oil Corp (IOC), Torrent and GAIL Gas were received Tuesday at the close of bidding for city gas licences for 50 cities, official sources said.

NEW DELHI: State-run gas utility GAIL on Tuesday posted a 33% increase in its net profit at Rs 1,681 crore in the December quarter, up from Rs 1,262 crore in the previous corresponding period, on the back of higher natural gas transmission and sales volumes.

New Delhi, Feb 5 () India’s oil trade with Venezuela has gone down since sanctions were imposed on the Latin American country, its Ambassador to India Augusto Montiel said on Tuesday.