Cos advised to have long-term deals with Sabine Pass and Macquarie

India has decided to make a “strategic shift” in LNG (liquefied natural gas) sourcing with a “look U.S. policy” for contracting new import volumes. This follows an analysis by the Petroleum Ministry which showed that LNG imports from the Gulf were costlier than from the U.S.

HYDERABAD: The government will gradually increase diesel prices in small doses at an "appropriate time" to help oil companies that are selling the fuel below market rates, and insulate consumers fr

The decision to allow Reliance Industries (RIL) to retain the entire 7,645 sq km KG-D6 block in violation of contractual obligations was based on the advice of the Directorate General of Hydrocarbons (DGH), the Petroleum Ministry has told the Public Accounts Committee.

New Delhi The regulatory panel overseeing the performance of Reliance Industries’ prestigious D6 block in the Krishna Godavari basin on Tuesday approved the company’s plan to develop four satellite

New Delhi Companies in fertilisers and LPG, which are largely immune to the supply crunch on natural gas due to the stagnating output from the KG D6 block, could soon face serious input shortages.

Environmentalists have come out in strong support of minister for petroleum and natural gas S. Jaipal Reddy’s proposal to impose a 15 per cent duty on all diesel-run passenger vehicles.

The proposal has been sent to the ministry of finance for finalisation. The Kirit Parikh committee had earlier recommended a one-time additional excise tax of `80,000 on diesel cars.

State-run ONGC and the Oil Ministry's technical arm, the DGH, have given Cairn India the go-ahead for commencement of production from the Bhagyam oilfield, the second-largest find in the prolific R

‘Investments are made by RIL, its partners at their own risk'

New Delhi The petroleum ministry will decide in three to four weeks on limiting the capital expenditure that Reliance Industries (RIL) can recover from its Krishna-Godavari basin gas block in propo

The government will not go for an immediate increase in the prices of regulated petroleum products like diesel, domestic LPG and kerosene, even as Prime Minister Manmohan Singh’s intervention has p