Slots of 'sacked' independent directors lie vacant at Oil PSUs
Months after the BJP government sacked most of the independent directors at top oil PSUs, the boards of blue chip firms like ONGC and GAIL are functioning with most of those positions still lying vacant.
Mar 23, 2015, 16:09 PM IST
PM Modi to inaugurate Urja Sangam on March 27
Started as Hydrocarbons India Pvt Ltd on March 5, 1965 to carry out exploration and development of the Rostam and Raksh oil fields in Iran and undertaking a service contract in Iraq, OVL today has 36 projects in 17 countries.
Mar 22, 2015, 11:32 AM IST
DGH to renegotiate fiscal terms of Cairn's Rajasthan block
"We have asked DGH to renegotiate terms with both the contractors, Cairn and Oil and Natural Gas Corp (ONGC)," a senior government official said.
Mar 15, 2015, 11:16 AM IST
Oil Ministry to give CNG marketing licence
Oil Ministry is looking to wrest powers to give CNG retailing licence from sectoral regulator PNGRB as it has issued draft guidelines detailing eligibility for rights to sell fuel to automobiles.
Mar 12, 2015, 17:15 PM IST
Oil Ministry to protect ONGC on subsidy payout: Pradhan
Oil Ministry is keen to protect state-owned ONGC from subsidy burden in the March quarter as volatility in crude oil prices have taken a hit on its finances, Petroleum Minister Dharmendra Pradhan said today.
Mar 09, 2015, 18:39 PM IST
Over 81% of LPG consumers join PaHaL scheme
More than 81 percent of the 14.5 crore LPG consumers have joined a scheme to get cash subsidy in their bank accounts, the oil ministry said Wednesday.
Mar 04, 2015, 21:34 PM IST
Petronet CEO not to get extension; Oil Min looks for new CEO
The Oil Ministry has decided not to extend tenure of Petronet LNG Ltd's CEO A K Balyan till his superannuation in July 2016 and has instead begun search for the new head of the India's largest liquefied natural gas (LNG) importing firm.
Mar 04, 2015, 17:54 PM IST
IOC director-designate suspended over info leak
State-owned Indian Oil Corp's (IOC) director (R&D)-designate Debangshu Ray has been suspended for allegedly leaking confidential information to a private company.
Mar 02, 2015, 18:36 PM IST
Zero tolerance policy towards illegal acts: Essar
Days after one of its employees was arrested in the corporate espionage case, Essar Oil Wednesday said it is a law abiding corporate and had not authorised anybody to access stolen oil ministry documents.
Feb 25, 2015, 22:30 PM IST
Oil regulator for lower marketing margin on gas: Pradhan
Oil regulator PNGRB has suggested a maximum marketing margin on natural gas sold to fertilizer and LPG plants of about 11.5 cents, less than what state-run GAIL and Reliance Industries currently charge from gas users.
Feb 25, 2015, 18:58 PM IST
ATF costs less than petrol, diesel: Dharmendra Pradhan
While jet fuel (ATF) in Delhi costs Rs 46,513.03 per kilolitre or Rs 46.51 per litre, petrol is priced at Rs 57.31 a litre. Diesel costs Rs 46.62 a litre.
Feb 25, 2015, 17:51 PM IST
Consumers were benefitted first; petrol excise duty came later: OilMin
Under attack for hiking excise duty on petrol and diesel, government today said the step was taken to save money for developmental works after "substantial" benefits of reducing global crude prices were passed on to consumers by effecting price cuts.
Feb 25, 2015, 17:28 PM IST
OilMin suspends ONGC technical director Shashi Shankar
The Oil Ministry has suspended ONGC's Director (Technology and Field Services) for alleged irregularities in an awarded Rs 23 crore tender of 2011, the first such action against a director since the company was listed two decades ago.
Feb 24, 2015, 16:09 PM IST
RIL shares dip as staffer detained in govt documents leak case
Shares of Reliance Industries on Friday witnessed selling pressure, falling over 3 percent, in an overall weak stock market after Delhi Police had yesterday detained a RIL staffer in connection with alleged official document theft in the oil ministry.
Feb 20, 2015, 13:39 PM IST
GAIL LNG tender to ferry gas from US finds no bidder
After postponing tender deadline thrice and also one year later, state-owned gas utility GAIL India Ltd has not found any bidder for its USD 7 billion tender to hire newly-built LNG ships to ferry gas from the US.
Feb 19, 2015, 14:23 PM IST
OilMin moves proposal to pool gas price for fertiliser plants
After power, the Oil Ministry has moved a proposal to pool or average out prices of domestic natural gas and imported LNG used by fertilizer plants to make the cost of fuel uniform and affordable.
Feb 18, 2015, 18:34 PM IST
RIL challenges oil ministry taking away 5 gas finds
Reliance Industries has slapped an arbitration notice challenging oil ministry's decision to take away 814 square kilometer of its eastern offshore KG-D6 area that contained five gas discoveries.
Feb 11, 2015, 13:29 PM IST
Oil Ministry seeks Rs 22,101cr in fuel subsidy for H2 2014-15
Oil Ministry has sought Rs 22,101 crore in fuel subsidy for the second half of current fiscal so as to almost exempt oil producers ONGC and Oil India Ltd from any payments.
Feb 05, 2015, 15:38 PM IST
Oil Ministry cuts gas supplies to Gujarat to meet CNG, PNG demand
Months after effecting drastic cut in natural gas supplies to small industries in Gujarat, Oil Ministry has admitted that small consumers were bracketed with priority sector users like fertiliser and power by the Cabinet but were deprioritised at departmental level.
Feb 04, 2015, 19:37 PM IST
Oil Min wants to recoup KG-D6 profit share from Panna fields
The Ministry believes RIL has to remit additional profit petroleum of USD 195 million to the government after USD 2.376 billion in KG-D6 expenditure was disallowed for output lagging targets.
Feb 01, 2015, 11:34 AM IST
