Category: Oil & Gas

India is offering 26 blocks or areas for finding and producing oil and gas in a mega offshore bid round, upstream regulator DGH said on Tuesday. Simultaneously, 16 areas for prospecting for coal-bed methane (CBM) are also being offered in a separate round.

Vehicle owners will not be provided fuel at petrol pumps in Delhi without showing a valid pollution under control (PUC) certificate from October 25, Environment Minister Gopal Rai said on Saturday. The decision was taken at a meeting of officials from environment, transport and traffic departments on September 29 during which modalities and implementation of […]

The government has put off by one month the levy of an additional Rs 2 per litre excise duty on petrol that is not doped with ethanol and by six months for diesel not blended with bio-diesel in a bid to give the industry more time to implement the measure. The finance ministry, in a […]

Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, were on Friday hiked by a steep 40% to record levels, in step with global firming up of energy rates.

The Oil Ministry has sought a review of the two-and-a-half-month-old windfall profit tax on domestically produced crude oil, saying it goes against the principle of fiscal stability provided in contracts for finding and producing oil. The ministry in the August 12 letter sought exemption for fields or blocks, which were bid out to companies under […]

The Congress today sought an apology from Union Minister Smriti Irani for failing to fulfil the promise of reducing the LPG cylinder price, which had doubled since 2014. HPCC chief Pratibha Singh called Smriti “Cylinder Cindrella”. She said, “Smriti Irani, who is visiting Rampur in Shimla district tomorrow, owes an apology to the women of […]

With BJP in power in Maharashtra, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday expressed hope of reviving the stalled West Coast Refinery project, which if implemented, will be the largest in the world. The over Rs 3 lakh crore-project was approved when the BJP-Shiv Sena government was in power in the […]

Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed. India shipped in 863,950 barrels per day (bpd) of crude from Saudi Arabia while purchases from Russia fell 2.4% to […]

Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed. India shipped in 863,950 barrels per day (bpd) of crude from Saudi Arabia while purchases from Russia fell 2.4% to […]

International oil prices have hit a seven-month low but there is no change in retail selling price of petrol and diesel in India as state-owned fuel retailers recoup losses incurred for holding rates for a record five months despite rising cost. International benchmark Brent crude fell below USD 90 per barrel last week for the […]

The price of commercial LPG used in hotels and restaurants on Thursday was slashed by Rs 91.50 per cylinder on softening international prices, but oil companies have made no changes in rates of domestic cooking gas and rather began imposing limits on refills a user can order in a fortnight. The price of a 19-kg […]

The government has allowed retrofitment of CNG and LPG kits in petrol and diesel vehicles that are compliant with BS-VI emission norm. As of now, such modifications are permissible only in vehicles that are compliant with BS-IV emission norm.