Bids invited based on production-linked multiple; company quoting the highest multiple to become preferred bidder

Amid controversy surrounding the allocation of coal blocks to private companies, the Union Cabinet on Tuesday gave its approval for new allocation policies that would govern the auctioning of coal reserves and shale gas acreages in the future.

Says state transport undertakings may soon get subsidised diesel

Making a partial U-turn on the recently-introduced policy of a dual-pricing system for diesel, Petroleum Minister M Veerappa Moily on Tuesday said the government might soon supply subsidised diesel to state transport undertakings (STUs).

Seeks answers from Petroleum Ministry on IPI, TAPI and India-Bangladesh-Myanmar gas pipeline.

To cut down the outflow of dollar and increase the rupee trade for purchase of more crude oil from Iran, the Finance Ministry has asked the Petroleum Ministry to take immediate steps to make the En

Facing inter-ministerial turf battles and pressure from the automobile industry, the government has yet again held back on imposing fuel efficiency standards for cars — which would help cut oil imp

The government auditor wants to know steps taken to ensure that the firm delivers gas at $4.2 mbtu

The Mukesh Ambani-owned Reliance Industries Limited (RIL) is in for more trouble as the Comptroller and Auditor-General has questioned the Petroleum and Natural Gas Ministry over the recent gas price increase and wanted to know the steps taken to ensure that the operator (RIL-BP) delivers gas at $4.2 mbtu as per the approved production plan.

The CAG has said the technical reports have indicated that the operator has not fulfilled its obligation on well drilling.

The groundwater in sample-tested areas of Tondiarpet, where an oil leak from a pipeline was reported in July, is severely contaminated with petroleum products, an IIT Madras team has said in its pr

“Presence of highly inflammable products can result in explosions in Tondiarpet”

A preliminary investigation report on the recent oil leakage in Tondiarpet found that the groundwater in the north Chennai locality is severely contaminated with petroleum products.

It suggested a comprehensive technical study on cost estimates of gas production, covering the aspects of cost recovery and technical parameters

Parliament’s standing committee on finance, headed by former finance minister Yashwant Sinha, on Wednesday tabled its report on gas pricing, asking the government to review its decision to increase the prices.