The country's efforts to cut down on its ever-increasing oil import bill could get a significant boost as cheaper Canadian crude from its Alberta oil sands bounty will reach Indian shores in large

The government may have approved the Rangarajan formula that could nearly double the price of domestically produced natural gas starting FY14 given the current rates of benchmark prices cited, but

STATE-RUN ONGC Videsh (OVL), vested with the key responsibility of bolstering the country’s energy security by acquiring hydrocarbon assets abroad, is adding less proven reserves to its portfolio t

Oil and Natural Gas Corporation (ONGC), facing a prolonged stagnancy in oil production, has got a shot in the arm with one of its blocks in the Krishna-Godavari basin off the Andhra Pradesh coast,

Over the last few months, the ministry of petroleum and natural gas (MoPNG) has cleared around 200 pending management committee (MC) resolutions involving oil and gas blocks operated by both public

The petroleum and natural gas ministry is expected to move a Cabinet note on gas pricing to the Cabinet Committee on Economic Affairs (CCEA) as early as next week, Veerappa Moily, minister of petro

Domestic gas prices may be fixed at $2 lower than the $8.8-per-unit price discovered by the Rangarajan commitee constituted to suggest changes in the production-sharing contract and future domestic gas-pricing mechanism.

Sources said the oil ministry agreed to the basic principle of gas pricing suggested by the panel, but wants it to be modified slighty to also take into account gas prices in countries such as Malaysia, Saudi Arabia, Qatar and Nigeria that account for a major portion of India's liquified natural gas imports.