India and US signed a MoU with  for cooperation in identifying and tapping gas trapped in layers of sedimentary rocks or which more popularly known as the shale gas. On this occasion  petroleum minister Murli Deora said,  ...

“There have been some discussions. We hope to sign a memorandum of understanding during the US  President Barack Obama’s visit,” said petroleum minister Murli Deora. India does not have technology to exploit shale gas, an unconventional gas ...

The government for the first time admitted it has differences with Cairn India about whether government permission is required for pre-New Exploration and Licensing Policy (NELP) block in the case of change of ownership. Speaking at the ...

Makarand Gadgil The ministry of petroleum and natural gas is hoping endorsement of New Exploration and Licensing Policy (NELP) from likes of Mukesh Ambani and Prashant Ruia would help it to attract investment from Indian as well ...

New norms recommend an increase in the initial exploration phase by one to five years and the flexibility of drilling the committed number of wells during the entire exploration phase ...

ONGC-Mittal Energy Ltd (OMEL), a joint venture of state-owned ONGC’s foreign arm OVL and steel tycoon L N Mittal, has made a hydrocarbon discovery in Nigeria but the find may not be commercially viable. “OMEL drilled ...

Defending the increase in fuel product prices and their de-regulation, Government said the rise in their cost was “minimal” and such a decision was needed to improve the financial health of oil marketing companies. “The price increases, ...

Petroleum minister Murli Deora has written a letter to chief ministers of  the states appealing them to lower the VAT rates on  petroleum products to minimise the impact of price hike. The central government is considering to ...

 Petroleum minister Murli Deora held discussions with the Tamil Nadu state administration for setting up an LNG (liquefied natural gas) terminal and a power plant at Ennore. The proposed project is to be developed by Indian ...

Petroleum minister Murli Deora announced in Parliament that Reliance Industries Ltd need not include marketing margin with gas sale price for calculating royalty and the government’s profit share ...