The expenditure on subsidies for food, fertiliser and fuel for 2014-15 is budgeted at Rs 2,46,397 crore, as against Rs 2,45,452 crore in the revised estimates

The biggest mystery on the day of the interim Budget had to do with the rollovers for the next financial year on the subsidy front. While the fertiliser, food and petroleum sectors were demanding more money, Finance Minister P Chidambaram insisted that there would be no rollovers, except for Rs 35,000 crore on fuel subsidy.

Coming down heavily against Delhi chief minister Arvind Kejriwal for ordering an “unconstitutional” FIR against him and others for raising gas prices, Oil minister M Veerappa Moily on Friday said t

Contending that cost of urea production needs to be kept under check and so should the subsidy burden, the ministry of fertiliser has asked the petroleum ministry to continue providing natural gas

The oil ministry that has approached the Cabinet for its approval to launch the next round of annual oil and gas block auctions is simultaneously seeking its clearance for a policy that would allow

Moving to re-assess the oil and gas potential of the country, Petroleum and Natural Gas Minister Veerappa Moily on Monday announced setting up of a Multi Organisation Team (MOT) to carry out the re

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

State–owned ONGC’s first commercial power project in the country started commercial production on Tuesday night in Tripura, six months after President Pranab Mukherjee dedicated the 726 MW capacity

Permits operators to club discoveries of 2 or more blocks for optimum output

India’s proposed exploration policy seeks to give energy companies greater flexibility by eliminating the key role of the management committee headed by the director general of hydrocarbons in approving financial decisions. It also permits operators to club discoveries of two or more blocks for optimum output and allows continued exploration of oil and gas fields.

New Delhi: The Union environment ministry has indicted ONGC for the oil spill that was reported off the Uran coast near Mumbai in October.