The Comptroller and Auditor General (CAG) has asked the oil ministry not to approve any more investments in Reliance Industries’s KG-D6 oil and gas block till the company submits all records of its

The government has approved Reliance Industries’ plan to start drilling for developing a new area in KG-D6, the first major decision after Veerappa Moily took charge at the oil ministry late last m

Imphal: United Committee on Protection of Natural Resources, Tipaimukh has demanded that the Manipur Government and Jubilant Oil and Gas Private Limited withdraw all efforts of exploration in the area.

All the MoUs signed on the issue should be declared as null, invalid and void and the government should immediately put a moratorium on the on-going exploratory projects, said committee president Darlienthang.

Will invest Rs 1,000 crore for the proj, which is to be commenced in 2015

Welspun Energy today said it will invest Rs 1,000 crore in setting up a 100 MW solar power project in Chhattisgarh. Welspun Renewables Energy Ltd (WREL), a subsidiary of Welspun Energy, has inked an MoU with Chattisgarh government for installing 100 MW Solar Power project, the company said in a press statement here. The MoU was signed in Raipur.

London The world's top oil and gas firms are struggling to deliver the output growth they need to outpace the burgeoning cost of exploration and development.

Third-quarter results from Exxon Mobil, Royal Dutch Shell and other top international players released over the past few days mostly beat expectations thanks to a shortage of the fuels and other crude-oil based products they make. That widened the gap between fuel prices and crude oil, lifting margins in the downstream part of the business. Companies with refineries in North America are also processing less costly domestic crude oil from shale formations.

RELIANCE SHARES GAIN
Opposition slams govt for ‘shunting out AP politician under corporate pressure’

New Delhi: The single biggest surprise on Sunday was easily S Jaipal Reddy’s transfer from the petroleum ministry, with many viewing it through the prism of his runins with corporate interests.

After months of intense stand-off, the oil ministry has given nod to Reliance Industries’ plans to raise natural gas output from the flagging KG-D6 oilfield and agreed the Comptroller & Auditor

While announcing its results, Cairn India had said, a ?high-value, high-risk? prospect had been identified in the Ravva field

Cairn India, along with its partners Ravva Oil, Oil and Natural Gas Corporation (ONGC) and Videocon Industries, plans to invest about Rs 530 crore in new wells, which would help boost production from its Ravva field. As of September, the Ravva field produced 23,000 barrels of oil per day, along with 1.5 million cubic metres of gas per day, a sharp decline from the peak production of 50,000 barrels of oil a day and two million cubic metres of gas a day in 2004-05.

Business: Holding out hope for the future of Reliance Industries’ showcase KG-D6 hydrocarbon assets and India’s mining and energy industries, the government and the company have agreed on a develop