In a move aimed at ensuring India’s energy security, the Narendra Modi-led government plans to import huge volumes of natural gas from Russia.
India and Russia held major consultation in the realm of nuclear research away from the public eye ahead of Prime Minister Narendra Modi's meeting with President Vladimir Putin in Brazil in July.
ONGC Videsh Ltd., a wholly-owned subsidiary of Oil and Natural Gas Corp. Ltd., has priced $1.5 billion and €525 million in unsecured bonds in the international capital markets. These Bonds are guaranteed by ONGC.
Nawaz Sharif’s government faces a tough time as its decision to build a gas pipeline to Iran Irks Washington
Exploration and production firm Oil India Ltd (OIL) on Friday announced it has completed acquisition of 50 per cent shareholding in a subsidiary of PetroNeft Resources, which owns a block in Western Siberia, Russia. Current production from the block – License 61 – located on the eastern side of the Ob river in the oil-bearing region of Tomsk Oblast, is 2,100 barrels of oil per day.
India’s crude imports from Iran rose considerably in May over the month before, tanker data obtained from trade sources show.
Financial results of ONGC Videsh Ltd, the wholly-owned subsidiary of ONGC, for the year ended 31st March 2014 were considered and approved by the Board in its meeting held on May 20, ONGC Videsh’s press office has said.
India’s ONGC may participate in Rosneft’s gas projects, Rosneft has said. In particular, Rosneft and ONGC may implement a joint offshore project. Rosneft head Igor Sechin has discussed this with ONGC President Dinesh Sarraf and Indian Oil Secretary Saurabh Chandra.
With the Oil Ministry indicating that a new gas price may be delayed by a quarter, Reliance Industries has said the postponement may stall $4 billion of investment in KG-D6 block's second-biggest gas field, Business Standard reported on May 9.
India can undertake the development of Kazakhstan's Abay oil block, Indian First Deputy Oil and Gas Minister, Saurabh Chandra said on April 25, Trend reported on April 26.