Tag: oil and gas

Demystifying India’s gas pricing policy


Before 1987, ONGC and Oil India Ltd fixed gas prices. But from January-end 1987 the government began regulating prices on a cost-plus basis. The last revision under this so-called administered price mechanism was effective July 2005. When the government began bidding out oil and gas blocks under the New Exploration and Licensing Policy (NELP), it… Read More ›

Learning with the Times: India’s gas pricing demystified


Before 1987, ONGC and Oil India Ltd fixed gas prices. But from January-end 1987 the government began regulating prices on a cost-plus basis. The last revision under this so-called administered price mechanism was effective July 2005. When the government began bidding out oil and gas blocks under the New Exploration and Licensing Policy (NELP), it opted for market determined… Read More ›

Uncertainty in oil and gas sector may continue: IIFL


In an interview to CNBC-TV18 Prayesh Jain, AVP – Research, IIFL shared his reading and outlook on the oil and gas sector. On Monday, the government announced that CNG prices will be cut by about Rs 15 per kg and cooking gas piped to kitchens by about Rs 5 after it decided to supply cheaper… Read More ›

Jammu-Pak border might have oil & gas, says ONGC


“If Pakistan can discover lots of oil and gas across the border, why can’t India also discover hydrocarbons in areas very close to the borders?” asked an ONGC official After years of exploration in the Himalayan region, Oil and Natural Gas Corporation (ONGC) is yet to find anything in the fragile mountainous regions of Jammu & Kashmir… Read More ›

BP keen on selling jet fuel in India: Oil Secy


British Petroleum (BP Plc), Europe’s second-largest oil company, has applied for license to retail jet fuel or ATF at airports in India, Oil Secretary Vivek Rae said today. “They (BP) are looking at marketing of aviation turbine fuel (ATF) and I think they have applied for a license,” Rae told reporters here. BP made the… Read More ›

India Ratings maintains stable outlook for oil and gas sector


India Ratings & Research said on Wednesday that it maintains a stable outlook for the country’s oil and gas sector for fiscal year 2014-15 (FY15). “The rating outlook for both public and private sector oil and gas companies remains Stable,” it said in a statement. The agency expects public sector companies to sustain strong linkages… Read More ›

India, Saudi Arabia agree to promote cooperation in oil, gas, other areas


India and Saudi Arabia have agreed to promote cooperation in the field of oil, gas and minerals through a Joint Technical Team and to encourage Saudi private sector companies  to invest in the oil and gas sector in India. At the 10th India-Saudi Arabia Joint Commission Meeting (JCM) in Riyadh on January 27-28, the two sides also agreed on… Read More ›

Maintain stable outlook on oil & gas sector: India Ratings


India Ratings & Research has maintained a stable outlook on the oil and gas sector for financial year 2015 (FY15) — for both public and private sector companies. The agency expects public sector companies to sustain strong linkages with the Government of India (GoI) or maintain business stability, in case of standalone ratings. The existing ratings of private… Read More ›

PSU oil firms like IOC, BPCL and HPCL invite EoI for ethanol at new price


NEW DELHI: State-run oil marketing companies have decided on a base price of Rs 44 per litre for procuring ethanol from sugar mills, rejecting supply of 36 crore litre citing higher price even as the government-mandated ethanol blending programme entails an open tendering process. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have… Read More ›

Oil majors likely to get easy entry into CNG biz


To open the compressed natural gas (CNG) network in India, the ministry of petroleum and natural gas will soon seek Cabinet approval for CNG marketing guidelines. According to an official, the move will give CNG marketing rights to companies that have investment of at least Rs 2,000 crore in the oil & gas sector. “Companies such as… Read More ›