Siddhartha P Saikia

Demonetisation impact: Petrol, diesel sales fall 20-25%, say dealers

Contrary to the common trend of motorists rushing to fuel stations to use their old `500 and `1,000 notes, the sale of petrol and diesel has seen a drop of 20-25% in November this year against the year-ago period, say dealers

demonetisation, demonetisation, rs 500 notes News

IEA applauds India for successful auction of discovered oil & gas fields

The International Energy Agency (IEA) has applauded the recent auction of discovered oil and gas fields by India. In the small fields auction, which closed on November 21, 42 firms placed 134 bids for 34 contract areas out of

Commodities News

CCI okays Essar Oil’s $13-bn deal with Russia’s Rosneft

The CCI concluded that the deal would not cause any adverse effect on competition in India. This was one of the fastest CCI clearances for a deal of this size

Industry News

Dharmendra Pradhan says oil & gas block fields to be awarded by end-2016

The discovered oil and gas fields, whose auction ended on Monday, would be awarded by December-end, petroleum minister Dharmendra Pradhan told FE.

Economy News

Your documents, anytime, anywhere, through DigiLocker

The DigiLocker is being promoted by the department of electronics and information technology (DeiTY) under the ministry of communication and IT.

Industry News

KG gas penalty: Reliance Industries sends arbitration notice to govt

Reliance Industries (RIL) and its foreign partners — the UK’s BP and Canada’s Niko Resources — have sent a ‘notice of arbitration’ to the government.

Economy News

Free LPG connections under Pradhan Mantri Ujjwala Yojana cross 1 cr mark; 5 cr smoke-free kitchens the target

The number of rural households provided with free LPG connections under the Pradhan Mantri Ujjwala Yojana (PMUY) has crossed the 1 crore mark.

LPG News

KG Basin gas row: Reliance Industries Limited, partners asked to pay $1.55 billion

The government has slapped notices on Reliance Industries (RIL) and its foreign partners – UK’s BP and Canada’s Niko Resources...

Industry News

GAIL scraps multi-billion dollar ships tender

With the tender finding few takers, the company now looks to charter vessels for shorter duration

Industry News

GSPC seeks partners for onshore blocks, gets Magna Energy, Essar Oil, Tata Petrodyne, others on board

State-owned oil and gas exploration firm Gujarat State Petroleum Corporation (GSPC) is seeking partners for nearly 20 onshore blocks.

Industry News

Indian Oil lines up `1.8L-crore capital expenditure for 5 years

India’s largest refining and oil marketing company Indian Oil Corporation (IOC) has lined up capital expenditure to the tune of R1.83 lakh crore between FY18 and FY22.

Industry News

Gas row: Reliance Industries faces $1 bn penalty in dispute with ONGC

The Directorate General of Hydrocarbons is understood to have computed the penalty payable by Reliance Industries (RIL) for exploiting natural gas that migrated to its KG-D6 block from ONGC’s adjacent asset at upwards of $1

Industry News

Cairn India targets to double gas production from Barmer by FY19

Cairn India, the operator of Barmer oil and gas block in Rajasthan, is planning to invest $100 million, a chunk of it to monetise its natural gas resources. The Vedanta group company is targeting to increase gas production to

Commodities News

ONGC Videsh Farzad B gas discovery: India-Iran gas deal delayed again

A plan by India and Iran to finalise the ‘development, financial and commercial’ terms for the prolific Farzad B gas asset in the Persian Gulf, discovered by New Delhi-based explorers led by ONGC Videsh, will be delayed a

ONGC Videsh Farzad B gas discovery: India-Iran gas deal delayed again

Reliance Industries penalty: DGH may provide capex, opex relief to company in KG- D6 block case

The petroleum ministry’s technical arm Directorate General of Hydrocarbons (DGH) is likely to take into consideration capital and operational expenditure incurred by Reliance Industries (RIL)

Reliance Industries News

GST Council meet: 14% revenue growth assumed for states

In order to compute the states’ revenues losses from the goods and services tax (GST), a 14% annual growth over the 2015-16 base would be assumed in their VAT revenue over the next five years, when the Centre will be oblige

Economy News

ONGC checks decline in onshore output

Thanks to its efforts at improving efficiency in exploration, government-owned ONGC has broken the declining trend in its oil and gas output from onshore assets that prevailed for the past four years.

ongc, oil india, ongc oil india pull out of auction News

India gets a brand new oil & gas basin, Kutch offshore, after 31 years

Nearly 31 years later, India is expecting to get oil and gas production from a new basin — Kutch Offshore — starting 2017-18.

Economy News

Essar inks Rs 86,100 cr deal, Prashant Ruia says ‘Watch this space!’ (for more)

Overseen by PM Narendra Modi and Russian President Vladimir Putin, Ruias’ Essar Group on Saturday sealed a $13-billion

Industry News

Ruia’s Essar Oil inks Rs 86,100 cr deal to sell 98% stake in flagship refinery to Rosneft, UCP and Trafigura

Ruia-owned Essar Group on Saturday sealed a $13-billion (Rs 86,100 crore) deal to sell 98% stake in its flagship 20 million tonnes per annum refinery to a consortium led by Russia’s state-owned energy giant Rosneft

Economy News

Brics Summit: Essar Oil sells 98% stake to Russian firms for $13 billion

The deal would help Essar to leverage it's high debt portfolio to the tune of Rs 88,000 crore at the group level. Financial institutions and banks would be benefitted by way of getting back their loans.

Industry News

Bidding for 67 discovered oil & gas fields extended till November 30

After potential investors from overseas sought more time to analyse data of 67 discovered oil and gas blocks under auction, the petroleum ministry has decided to extend the bidding by a month. Now, the explorers can submit th

Economy News

Indian PSUs’ deal with Russia’s Rosneft for Vankor cluster unlikely at BRICS summit

India’s public-sector hydrocarbon companies, namely ONGC Videsh (OVL), Indian Oil (IOC), Oil India (OIL) and Bharat PetroResources (BPRL), are unlikely to sign a heads of agreement to acquire up to 49.9% stake in Rosneft’

Economy News

India’s hydrocarbon fields: Govt goes on petroleum hunt via seismic survey, breaks ’25-yr deadlock’

To address one of the key concerns of investors about lack of robust data on India’s hydrocarbon fields, the government has embarked on an exhaustive seismic survey across 26 sedimentary basins with presumed presence of of

Economy News

Political overhang likely to delay ONGC, GSPC deal

ONGC is proceeding extremely warily on a plan to take over the gas assets of the Gujarat government-owned GSPC, given the political scuffle over the latter's alleged extravagance.

Economy News

Another 800,000 set to lose LPG subsidy; here’s why

With the help of the tax department, public sector oil marketing companies have identified nearly 7.9 lakh domestic LPG consumers whose annual taxable income is more than `10 lakh but are still enjoying subsidy and have decid

LPG News

UK’s BP gets nod to set up 3,500 petrol pumps in India

UK-based BP Plc has been granted the licence by the petroleum ministry to set up 3,500 retail fuel stations to sell petrol and diesel in India, a senior government official confirmed to FE.

Economy News
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