In the first mega deal in the energy sector this year, public sector Oil and Natural Gas Corporation and US oil giant ConocoPhillips have signed a Memorandum of Understanding (MoU) for co-operation

India’s state-run Oil & Natural Gas Corporation (ONGC) has joined hands with ConocoPhillips for exploration and development of 19 deepwater oil and gas blocks. The two companies would also be collaborating in shale-gas exploration.

ConocoPhillips is the third-largest integrated energy company in the US and the fifth-largest refiner in the world. This partnership, however, could result in ONGC offering equity stakes in some of its blocks in India to ConocoPhillips.

The Petroleum and Natural Gas Ministry, on Wednesday, signed Production Sharing Contracts (PSCs) for the newly awarded 16 oil and gas blocks under the IX round of New Exploration Licensing Policy (NELP), with Oil and Natural Gas Corporation (ONGC) emerging as the biggest winner with six blocks.

However, ONGC saw its bids being rejected for eight blocks, including five deep-sea, for various reasons.

State-owned ONGC cornered six blocks - four as operator and two as minority partner - out of the 16 areas that the government awarded for oil and gas exploration, but saw its bids rejected for eigh

New Delhi For the first time, New Delhi is looking to the North American continent to secure its energy needs. India has started talks to import natural gas from Canada, the world’s third-largest producer which is facing falling demand from the US, where a shale gas bounty has brought self sufficiency in clean energy. Besides Canada, India has also set its eyes on shale gas from the US.

The government’s plans to reign in petroleum subsidies to plug the fiscal deficit next financial year are in jeopardy, as a whopping Rs 2.13 lakh-crore revenue loss is expected at the current levels of global crude oil prices and domestic retail prices of controlled products.

Non-revision of diesel, LPG and kerosene prices, firm crude oil prices and a weak rupee may combine to foil Finance Minister Pranab Mukherjee's subsidy-reduction plans.

Government has asked power producers to refrain from setting up new gas-based plants as dwindling fuel supply is threatening viability of 37,000-MW of existing and upcoming projects.

AGARTALA, March 13 – The 52-km gas pineline to feed the Palatana power plant is almost ready and is expected to be tested in the next few weeks, said K Satyanarayana, Asset Manager, ONGC Tripura As

The Union government will raise at least Rs 12,400 crore through the sale of five per cent stake in Oil and Natural Gas Corporation (ONGC), giving it a much-needed cushion in the run-up to the Budget. The government would sell 427.77 million shares at a floor price of Rs 290 through the recently introduced auction mechanism, the company said in a notice to the stock exchanges. The auction will be held during trading hours on March 1.