Another PIL has been filed in the Supreme Court seeking cancellation of the contract awarded to Reliance Industries Ltd (RIL) and Canada-based NIKO Resources for exploration and production of natur

WWF warns of environmental disaster and permanent conflict if British firm begins drilling for oil inside Virunga national park

Over the last few months, the ministry of petroleum and natural gas (MoPNG) has cleared around 200 pending management committee (MC) resolutions involving oil and gas blocks operated by both public

It, however, says that the sample collected during exploration activity should not be used for commercial activity

The Ministry of Environment and Forests (MoEF) has accorded 'green signal' to Oil India Ltd's (OIL's) proposed exploration activities in KG–ONN–2004/1 block in the Krishna-Godavari basin.

Supreme Court judgement dated 09/05/2013 in the matter of Arun Kumar Agrawal vs Union of India & Others on approval granted by GOI for the acquisition of majority stake in Cairn India Limited.

Cairn India, on Tuesday, announced that it had made the 26th oil discovery in its Rajasthan block.

The block management committee had approved the exploration work programme for the RJ-ON-90/1 block on February 14 after which Cairn India commenced drilling of its first exploration well, Raageshwari-South-1, on February 25 located in the southern part of the block. “Technical evaluations indicate about 10 metres of gross oil column within Dharvi Dungar formation.

Vedanta group firm Cairn India Tuesday said it has made the 26th oil discovery in its RJ-ON-90/1 block in Rajasthan's Barmer district.

Following is the text of the Prime Minister, Dr Manmohan Singh's address at the CII National Conference and Annual General Meeting, in New Delhi on Wednesday:

In a move that could give a fillip to India's unconventional gas production, the ministry of environment and forests has given the phase-III clearance for Essar Oil's Raniganj block in West Bengal. The company will now be able to drill up to 650 wells, compared with the current 135.

The clearances would help Essar Oil invest another Rs 2,500 crore to increase the number of drilled wells to 300 by the end of this year and also rise production to three million standard cubic metres of gas per day (scmd), up from around 60,000 scmd.

Scrips of RIL, ONGC down

The Finance Minister's announcement for the oil and gas companies did not cheer key players in the industry.

Industry players gave a thumbs down to FM's proposal to review the oil and gas exploration policy and move from profit sharing to revenue sharing contracts. "The proposal to the move from profit sharing model to revenue sharing model marks substantial increase in risk profile for exploration and production companies. From an overall perspective, Budget 2013 has a negative bias for oil and gas industry," said Nabin Ballodia, Partner-Tax, KPMG India.

Pages