The proposed change will allow private companies to carry on with their business without going to the oil ministry regularly for clearances of decisions or to submit details of expenditure incurred.
The government is planning to incentivize energy firms to explore and produce natural gas domestically by extending them similar fiscal incentives currently available to only crude oil production
A consortium of three Indian oil firms have been shortlisted as finalists for stakes in ConocoPhillips oil sands holdings in Canada.
The oil ministry has blamed Reliance Industries for delaying the development of new discoveries in the D6 block but asserted that it would resolve the issue promptly.
India plans to launch the 10th bidding round of oil & gas exploration blocks by the end of this yr after making some investor-friendly changes, Jaipal Reddy has said.
Government to cap ONGC and Oil India's subsidy contributions to $56 a barrel in current financial year
Energy explorers ONGC and Oil India will give $56 per barrel discounts on crude oil they sell to Indian Oil, Bharat Petroleum and Hindustan Petroleum this fiscal year.
"Companies operating in foreign countries want certainty and predictability. It's important that those issues are addressed," the Canada minister said.
Petrol will cost Rs 67.90 per litre at IOC's petrol pumps in Delhi with effect from midnight tonight as against Rs 68.46 a litre presently, the company announced.
Rajiv Nayan Choubey has been eyeing the ONGC chairman's perks after he became the first bureaucrat to head the Directorate General of Hydrocarbons.
IOC Chairman Ranbir Singh Butola said he was confident that government would not allow them to fall sick.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon