Oil firms have spared the consumers from the monthly diesel hike, but the relief is only temporary as the government did not want to spoil the New Year party.
Oil ministry constituted a ten-member expert group headed by directorate general of hydrocarbons, which will identify international best practices in petroleum exploration & implement them in India.
Private explorers lauded proposal to replace the complex Nelp with a simplified ULP. The new policy proposes to limit the role of the DGH to technical matters.
The government plans a non-controversial model, which will have extended tax holidays, zero royalty payment, longer contract tenure.
ONGC has completed acquisition of an additional 12 per cent stake in a Brazilian oilfield for $561 million after blocking a Chinese entry.
Moily has decentralised decision-making by empowering senior officials to expeditiously clear hundreds of pending files.
The govt has given an in-principle approval to state-run ONGC proposal to offer 10% equity stake to Bangladesh in ONGC Tripura Power Company.
The government has decided to stop supplying subsidised cooking gas to all foreigners including diplomatic staff, NRIs and PIOs.
The oil ministry may raise Delhi's quota of cheap natural gas that would not only help reverse a recent increase in auto and cooking gas prices, but may even lead to a fall in the fuel's cost.
SAIL is in talks with ONGC to jointly explore coal-bed methane in coal blocks allocated to the steel major for captive consumption.
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