GUWAHATI, Nov 9 – Oil India Pipeline has completed its 50 years of dedicated service to the nation.

Gujarat State Petroleum Corp (GSPC) going solo in acquisition of British energy major BG Group's stake in Gujarat Gas Co Ltd (GGCL) was a result of Oil Ministry blocking its PSUs from joining the Gujarat government firm.

Originally, a consortia of GSPC, Oil and Natural Gas Corp (ONGC) and Bharat Petroleum Corp Ltd (BPCL) was to buy 65.12 per cent stake in the nation's biggest private gas distributor. BG Group too had shortlisted GSPC-ONGC-BPCL as a consortia for the stake sale.

The deal entitles the two to a 30% share in daily production of 1,850 barrels of oil equivalent

Government-owned Oil India Limited (OIL) and Indian Oil Corporation (IOC) have together acquired 30 per cent stake in a producing US shale asset at an investment of $82.5 million (Rs 427 crore). This is the first shale acquisition by the two companies in the US. OIL will buy 20 per cent and IOC 10 per cent stake in the asset owned by Carrizo, a Nasdaq-listed company.

DIBRUGARH, Sept 27 – Many tea gardens in Dibrugarh and Tinsukia districts are reeling under a severe shortage of piped natural gas, and garden managers are finding it difficult to overcome the cris

INDIA-: ONGC, IOC, Oil India bid for Conoco Canada oil assets

A trio of state-controlled oil companies on Monday said it has bid $5 billion for stakes in Canadian oil sands assets owned by ConocoPhillips , in what could be the next major test of Canada's appetite for foreign investment in its energy resources. A completed deal by a group that includes producers Oil and Natural Gas Corp and Oil India Ltd , along with refiner and retailer Indian Oil Corp , would be the first in Canada for Indian energy companies after years of strong public expressions of interest in the Alberta oil sands.

Kuala Lumpur Oil and Natural Gas Corp (ONGC), India’s biggest government-owned energy explorer, is considering bidding for part of ConocoPhillips Canadian oil sands holdings worth around $5 billion, a source with direct knowledge of the situation told Reuters on Tuesday.

The Houston-based company has been looking to sell assets in a number of countries including Nigeria as part of a global restructuring. ConocoPhillips recently completed the spin-off of its refining activities into Phillips 66, a newly created independent US company.

DIBRUGARH, Sept 14 – The small tea growers are likely to suffer this year around again with bought leaf tea factory owners signalling for shutdown of factories due to erratic Administered Price Mec

Chief Justice Bhaskhar Bhattacharya and Justice J B Pardiwala while issuing notice also asked the Union government why contempt proceedings should not be initiated against them for not complying to High Court order

Gujarat High Court has issued contempt notice to the Union government for its alleged non-compliance of its earlier order to allocate natural gas to Ahmedabad city under APM (administered price mechanism) price which is at present applicable to cities like Delhi and Mumbai.

Ahir alleges 2 ‘Coal To Liquid’ project allocated in 2009 without panel nod

New Delhi Rising global crude oil prices over the last four years have inflated India’s subsidy bill, but the burden on the exchequer could have been higher hadn't the fiscally-conscious government reduced its share of the onus, at the cost of upstream oil companies.

According to official data, between 2008-09 and 2011-12, the Centre reduced its direct funding of oil marketing companies’ losses — from 69.02% of the total estimated under-recoveries to 46.24%. Consequently, upstream firms such as ONGC, OIL and GAIL funded 38% of the under-recoveries in 2011-12, as against 30.98% in 2008-09.