New Delhi: Mukesh Ambani’s Reliance Industries Ltd has put its foot down on the government’s move to get the performance of its showcase Andhra offshore gas field scrutinized by the federal auditor

Piped supply of oil and domestic gas will be increased in next few years. Similarly, 25 percent of the country’s energy will be met through natural gas.

China may import more crude or refined products in the next few months, after official figures showed a sharp drop in oil and fuel inventories in August.

Mumbai Cairn India’s plans for enhancing oil production from its Rajasthan block is likely to drive the domestic crude oil production by 3.1% in FY13, a Centre for Monitoring Indian Economy (CMIE) survey has said.

“The domestic crude oil production is likely to grow by 3.1% in 2012-13. (Even though) the oil output during the April-July period declined 0.6%, the growth is likely to recover in the coming months mainly on account of Cairn India,” CMIE said in its monthly report.

Mumbai Government-run Hindustan Petroleum Corporation (HPCL) is eyeing stakes in overseas oil blocks, primarily in Africa and Kazakhstan, as it looks to beef up its portfolio of producing and disco

Oil and gas exploration companies like British Gas and Essar Energy want clarity on pricing and gradual linkage to international price for making shale gas investments. After Reliance Industries Ltd (RIL)’s experience with the D6 gas allocation, some also suggested the government should not have an allocation policy for shale gas. Other critical issues highlighted by the companies relate to land acquisition, water availability and handling. These companies submitted their comments to draft shale gas policy last month.

The government is looking to launch the first shale gas auction by December 2013 and is working on the policy that could be finalised by year-end. Hydrocarbon found in the form of shale gas has, over the past few years, transformed the energy scenario for the world’s biggest energy consumer, the US. RIL, India’s largest private oil company, has acquired shale acreages in the US.

The Appellate Tribunal for Electricity (ATE) on Wednesday issued notices to the three PSU oil marketing companies IndianOil (IOC), Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) on petition

Each discovery in oil block to be treated as separate cost centre, if proposal gets nod

In a major revamp of oil and gas exploration, the government is likely to notify a policy disallowing companies from deducting as expenses all exploration costs in areas where earlier discoveries are under development or production. It is expected to create a regime whereby each discovery will be treated separately for the purpose.

Euphoria Fades Over India’s ‘Gulf Of Mexico’ As Output Falls At RIL’s Finds | ONGC, GSPC Yet To Begin Production

New Delhi: The comptroller and auditor general (CAG)has slammed state-run explorer Oil and Natural Gas Corporation (ONGC) for deviating from standard procedure to hire a drilling rig without suffic