New Delhi: ONGC plans to invest over $10 billion to develop its new gas field in the KG basin for production. ONGC aims to develop the KG basin through four different projects.

NEW DELHI: Stating that the growing Indian economy would require tremendous amount of energy sources to maintain its pace, Prime Minister Manmohan Singh on Monday said India was encouraging its oil companies to acquire gas and oil assets abroad to meet the increasing demand that is likely to grow by 40 per cent in the next decade.

Delivering the inaugural address at the three-day Petrotech 2010

Angola could become India

New Delhi, Nov.

New Delhi: The government, which was aggressively pushing for exploration of conventional oil and gas, had taken steps to tap shale gas to reduce the country's import dependence, Union Minister for Petroleum and Natural Gas Murli Deora said on Sunday.

Fuel price rise in June brings down subsidy burden by 45%.

In what will enhance the financial performance of upstream oil companies, the subsidy burden on Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL) and GAIL Ltd has decreased by 45 per cent in a single quarter thanks to the June fuel price rises.

The government uses a one-third burden sharing formula.

Ajay Modi / New Delhi September 27, 2010, 0:34 IST

The government will launch the ninth round of the New Exploration Licensing Policy (Nelp-IX), which will see an auction of around 35 oil and gas blocks, on October 18, with a road show in Mumbai. Some of these blocks could be from the eighth round, for which no bids were received.

Moscow: Russia

ONGCOil and Natural Gas Corporation (ONGC), the country

Julia Kollewe

BP's bill for containing and cleaning up the oil spill has reached nearly $10 billion, as the U.S.