Pak wants to import furnace oil, diesel & natural gas from India & the two neighbours are working out a payment mechanism to start fuel trade.
India missed oil and gas production targets by "large percentage" in the 11 thPlan because of delays in project implementation by ONGC, Cairn and RIL.
Government plans to raise diesel, cooking gas and kerosene prices after the presidential polls but petrol will remain stable this month.
Empowered panel of secretaries to study pricing of coal gas produced by Essar Oil and Reliance Industries
The oil ministry has forwarded the contentious issue of pricing methane gas produced from coal seams by Essar Oil and RIL to an empowered panel of secretaries.
The move is to ensure there is no ambiguity going forward as to whether the prices received during the price discovery process are fully at arm's length.
The oil ministry is considering canceling Reliance Gas Transportation Infrastructure Ltd's (RGTIL) licenses to lay natural gas pipelines for company's failure in meeting deadlines, government and industry officials said.
Vedanta group's Cairn India will invest another $6 billion to start pumping more crude in two years.
The new price of CNG is Rs 38.35 per kg in Delhi and Rs 43.10 per kg in Noida, Greater Noida and Ghaziabad from Saturday.
Engineers India (EIL) has bagged Rs 720 crore consultancy services contract from Bharat Petroleum Corporation (BPCL) for Kochi integrated refinery expansion project.
India's showcase of the country's hydrocarbon sector, Petrotech-2012, will have a special ministerial session attended by oil ministers of oil producing and consuming nations, organizers of the event said.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon