Oil and Natural Gas Corp (ONGC) and China National Petroleum Corp (CNPC) will renew a co-operation pact in areas such as exploration, an Indian oil ministry official said.

The energy-hungry Asian nations - widely blamed for a record rise in oil prices - usually compete for stakes in foreign oil and gas projects to secure supplies. “Although we are rivals, the interests of India and China converge when it comes to hydrocarbons. With ONGC, they (CNPC) will sign an MoU (Memorandum of Understanding),” the official told reporters on Monday.

Uriamghat, June 6: Oil & Natural Gas Commission Ltd (ONGC) setting up shop along the inter-state border with Nagaland in both Jorhat and Golaghat districts has given Assam the muscle to protect

Energy co aims to double domestic output and treble EBITDA by 2030.

Keeping in mind the rising incidents of oil spills around Mumbai, the Mumbai Port Trust (MbPT) has now invited global bids to outsource the work of oil spill response facilities for a period of five years. The oil spill response facilities will help the Mumbai Port Trust and Jawaharlal Nehru Port Trust (JNPT) manage a spill of maximum volume of 700 tonnes.

“All ports are required to maintain Tier-I (up to 700 tonnes) oil spill response facilities. Accordingly, the MbPT and JNPT have to set up and manage facilities in Mumbai and JNPT harbour in coordination with oil companies operating at these ports,”

Major power producers in the private and public sector, including Tata Power, NTPC, Torrent Power and Mahagenco, have opposed the proposal floated by the Association of Power Producers (APP) to pool domestic gas with RLNG (regasified liquefied natural gas). They have opposed the move on the ground that this would lead to higher tariffs.

In its submission to the Central Electricity Authority (CEA) on the gas pooling issue, Tata Power said that its Trombay power station was allocated 1.5 million metric standard cubic metres per day (mmscmd) when ONGC flaring first started.

India's state-run upstream oil firms will bear nearly 40 percent of the 1.38 trillion rupee ($25 billion) cost of retail fuel subsidies for the 2011/12 year, a government source said on Monday.

In response to demands from companies engaged in extracting coal bed methane (CBM) for a single operator who would work the CBM blocks, an inter-ministerial panel has asked the petroleum secretary

The Petroleum Ministry has sought cash subsidy of Rs.49,872 crore from the Finance Ministry to compensate state-owned oil companies for selling fuel at government-controlled rates in the January-March quarter.

Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation together lost Rs.1.48 lakh crore on selling diesel, domestic LPG and kerosene at rates lower than cost in 2011-12, an Oil Ministry official said here.

The Oil Ministry has refused permission to public sector oil companies for acquiring Asian Development Bank's stake in Petronet LNG Ltd (PLL) so as to keep the nation's largest liquefied natural ga

An inter-ministerial panel has been set up to find a solution to the dispute between the Ministries of Coal and Petroleum on simultaneous extraction of gas and coal.