Oil exploration and production major Oil India Limited (OIL) has informed the oil ministry that the company would not be able to meet the MoU targets for this year due to environmental problems. In a recent meeting with the oil ministry, OIL expressed concern about the shortfall in production against MoU targets for 2007-08. This is despite OIL achieving a highest ever daily production of 3.48 MTPA this year, against 3.11 MTPA on March 31, 2007. According to sources, Oil India's target for the year 2007-08 is 3.50 MMT, including in country and overseas production.

It is high time Parliament took serious note of the sordid story of the unwarranted hike in the prices of petroleum products.

Faced with high oil prices and increasing oil imports to meet the country's rising demand for transportation fuels, there is now a perception that India's energy security is threatened. In addition to securing overseas oil fields, alternative options include biomass-based fuels and coal-to-liquid (CTL) fuels. While the production of biodiesel has now become a national mission, CTL fuels are also gaining currency as a commercially attractive proposition because of the potentially cleaner characteristics.

A proposed seismic survey for oil on the Brahmaputra river has Assam's citizens worried. A third of the population is dependent on the river for their livelihood

In a significant development, the government has given national oil companies, Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL), freedom to price any additional natural gas produced from blocks given to them on nomination basis at market rates.

New Delhi: In a move that may significantly raise your commuting costs, increase cooking gas prices and lead to a marginal hike in power tariff, the Cabinet on Wednesday more than doubled the price of natural gas controlled by the government. As a result, CNG rates in the capital are expected to rise Rs 6 per kg and the price of piped cooking gas by Rs 3.50 per unit in Delhi and Mumbai.

A Planning Commission study has said prices of natural gas sold by the public sector companies Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) should be aligned to the price of $4.2 per million British thermal units (mBtu) decided by the empowered group of ministers (EGoM) for Reliance Industries Ltd (RIL).