Oil And Natural Gas Commission

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  ONGC Commissions Two Projects Worth Rs 6,000 Crore To Boost Oil, Gas Output

  State-owned Oil and Natural Gas Corporation (ONGC) has commissioned two projects costing Rs 6,000 crore to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas output over the life of the Mumbai High fields, as it doubles down efforts to raise productivity from mature and aging fields.

• Choppers Join Search for Andhra Pradesh's Missing Fishermen

  Three helicopters and two ships on Sunday joined the search operations for 50 fishermen missing off Andhra Pradesh coast for last five days, officials said.

• Oil Regulator to Complete Study on Gas Market Margin by December: Minister

  The Petroleum and Natural Gas Regulatory Board (PNGRB) will decide on the margin that natural gas sellers like GAIL and Reliance Industries can charge from urea manufacturers and LPG plants by the end of the year, Oil Minister Dharmendra Pradhan said on Monday.

• ONGC Commissions Unit at Dahej Petrochemical Plant

  State-owned Oil and Natural Gas Corp (ONGC) on Friday said it has commissioned a small unit at its long-delayed petrochemical plant at Dahej in Gujarat.

• Election Commission seeks deferment of gas price hike

  India last year approved a near doubling of gas prices from the current $4.20 per million British thermal units to spur investment in exploration for gas and boost returns for firms including state-run Oil and Natural Gas Corp.

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  Election Commission asks Oil Ministry to defer new gas price

  A new pricing regime was to be implemented from next month for all private and public sector natural gas producers under which rates were to rise to $8.3 next month from current $4.2 per million British thermal units.

• ONGC sees peak output of 25-30 mscmd from east coast gas block

  ONGC, which has also struggled to maintain production from its ageing wells off India's west coast, has said earlier it hopes to produce from 6 million to 9 million standard cubic metres per day (mscmd) of gas by 2017 from its east coast block.

• Gas prices: Supreme Court to hear petitions challenging formula approved by Cabinet

  The Supreme Court will today hear two petitions challenging the hike in gas prices. CPI leader Gurudas Dasgupta and an NGO have petitioned against the gas pricing formula approved by a cabinet panel in June last year that has allowed gas prices to be hiked from $4.2 a unit to $8.4 from April.

• Fair trade watchdog closes case against petroleum regulator

  The Competition Commission of India (CCI) has rejected a complaint alleging that certain rules framed by the Petroleum and Natural Gas Regulatory Board could lead to unfair trade practices in gas distribution network space.

• Allegations of favouring Reliance Industries baseless: Oil Minister

  Moily thrashed CPI MP Gurudas Dasgupta's allegations of favouring RIL as "totally false and baseless" and said the proposed increase in natural gas price was being done "strictly in line with the formula proposed by Prime Minister appointed panel headed by his economic adviser C Rangarajan."

• Hedge funds' bullish bets on commodities at six-week high

  The net long money held by hedge funds and other big speculators in commodities is back to a six-week high, moving on from April's market tumble, as traders piled into oil and oversold crops like coffee, cocoa and corn, trade data showed on Friday.

• RIL, BP seek clarity on natural gas pricing

  Mr Dudley, on a stop-over visit on way to Shanghai, along with Ambani drove to Planning Commission deputy chairman Montek Singh Ahluwalia's residence for a breakfast meeting this morning and had sought a meeting with Law Minister Ashwani Kumar.

• CCI to clear most of oil, gas blocks in two weeks: Montek

  The government is likely to clear in next two weeks several of 39 oil and gas fields that are stuck for want of defence clearance, said Planning Commission deputy chairman Montek Singh Ahluwalia.

• Planning Commission pitches for opening coal mining for private sector

  "The policy for energy sector should be consistent. We have not nationalised petroleum and natural gas. Private sector investment for third party sale is freely allowed in oil and natural gas.

• Profit cues: Asian markets firm, cement companies and more

  Asian shares rose on Wednesday and the euro clung to most of the previous session's gains as investors bet on central banks to provide stimulus.