Starting April 1, around 53,500 petrol pumps run by the state-owned oil marketing companies (OMCs), apart from those run by private operators Reliance, Essar and BP, will sell the higher specification diesel and petrol across
The flexi-fare system and differential pricing launched by Indian Railways (IR) earlier this year has since led to significant — though not steep — increase in passenger revenues from the “reserved categories”.
The private oil explorer has been seeking extension of the production sharing contract (PSC) for this field, with reserves of 318.31 MMT of oil and oil equivalent of gas, since 2009. The PSC was due to expire on May 14, 2020.
Supporting the government’s decision to create integrated domestic oil companies, Indian Oil Corporation (IOC) chairman B Ashok on Monday said the company would look at all possibilities of mergers and acquisitions.
Even if ONGC is able to close out its deal to buy 80% of the Gujarat government’s GSPC stake in the DDW fields in the Krishna-Godavari Basin in FY18, it does not plan to buy out its private sector partners.
After a prolonged delay due to issues ranging from environmental clearances to land acquisition, work on the Dedicated Freight Corridor projects is on an even keel, with the first stretch of the Western DFC likely to be opera
Among various permutations and combinations being weighed, sources said ONGC could buy out the government’s 51.11% holding in HPCL by paying partly in cash and partly by allocating additional shares in the oil explorer.
The findings were part of the survey conducted by the I-T department, leading to a conclusion that some of the fuel pump operators may have indulged in widespread involvement in manipulated conversion of unaccounted cash held
The NDA government expects the share of natural gas in the energy mix of India to be 20% by 2025 compared with 11% in 2010, as stated by the Petroleum and Natural Gas Regulatory Board (PNGRB) in its Vision 2030 document.
Following the sustained and steady fall in production from both onshore and offshore fields of oil major ONGC since 2006-07, the Directorate General of Hydrocarbons (DGH) plans to push the company into more production enhance
The cost of merchant discount rate (MDR), borne by oil marketing companies at the instance of the Reserve Bank of India (RBI) since the note ban, may be shifted to the government, with retrospective effect.
ONGC has been given an assurance by the Gujarat government that the national explorer will get at least $6/mmBtu for the gas from the Deen Dayal-West (DDW) block in the Krishna Godawari basin in the first year of production.
Even before Dr SSV Ramakumar could submit the joining report as the director (research and development) for Indian Oil Corp (IOC), he received a call from the petroleum ministry, and was handed a herculean task.