Indian Ministry of Petroleum and Natural Gas Company News

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India Seeking Merger Model For Possible State Oil Champion
Tuesday, August 02, 2016India is open to discussing a merger of some of its state-run oil producers and refiners to create a larger, stronger national firm, according to the country's oil minister.

India Overtakes Japan as World's Third Largest Oil User After US, China
Thursday, June 09, 2016India overtakes Japan as the world's third largest oil consumer after the U.S. and China, according to BP Statistical Review of World Energy 2016.

India, Iran Plan to Seal Deal to Develop Offshore Farzad B Field by October
Monday, June 06, 2016India expects to finalize contract with Iran to develop the Farzad B gas field in the Persian Gulf by October.

India Launches Auction for 67 Small Oil, Gas Fields Under a New Bid Scheme
Thursday, May 26, 2016India launches a new bid round to invite investors to participate in the exploration and production at 67 small oil and gas fields in the country.

India to Enhance Investment Appeal to Boost Domestic Oil, Gas Production
Tuesday, February 16, 2016India plans to enhance its investment appeal to boost local oil and gas production, Minister of Petroleum and Natural Gas Dharmendra Pradhan says.

IEA Sees India's Oil Demand Rising to 10 MMbopd by 2040
Monday, November 30, 2015India's oil consumption is set to reach 10 million barrels per day by 2040 due to strong growth in domestic energy demand, the International Energy Agency says in a report.

Minister Urges Industry to Boost India's O&G Output in Low Cost Environment
Wednesday, November 25, 2015India's Minister for Petroleum & Natural Gas Dharmendra Pradhan urges the petroleum sector to capitalize on reduced industry costs to increase domestic oil and gas production.

India To Offer At Least 56 Oil, Gas Blocks Licenses
Monday, January 06, 2014India will offer at least 56 oil and gas blocks in its next round of auction of exploration blocks that will be launched next week, oil secretary Vivek Rae says.

Indian Govt Launches 8th Round of NELP
Tuesday, September 15, 2009The Indian Government launched the 8th round of New Exploration Licensing Policy, the largest licensing round yet with 70 blocks on offer.

BP Says India's Oil Sector Moving in Right Direction
Friday, August 21, 2009Despite some setbacks, the Indian oil sector is moving in the right direction and presents profitable opportunities for oil companies, a BP executive said.

Tough Times for India's Licensing Round
Monday, May 18, 2009India will find the going tough as it puts up more of its potential oil and gas reserves on the block in August, given competing exploration rounds in other countries, credit issues, low oil prices and uncertainties about future energy demand.

India May Split Next Oil Licensing Round
Wednesday, February 25, 2009India plans to launch its largest ever auction of oil and gas blocks by mid-April, but the country may be forced to split the licensing round of exploration acreage due to global economic slowdown and a drop in crude prices.

Indian Engineers Shadow MMS Offshore Safety Inspections
Tuesday, February 17, 2009Visiting engineers from India's Ministry of Petroleum and Natural Gas Oil Industry Safety Directorate accompanied MMS inspectors on routine inspections of offshore oil and gas operations in the Gulf of Mexico and southern California.

India Approves Development Plan for Cairn's 3 Rajasthan Discoveries
Monday, January 19, 2009The Government of India has approved the Declaration of Commerciality for three of Cairn's discoveries made in North West India on the Rajasthan license.

GeoGlobal Snags 2 NELP-VII Blocks Onshore India
Thursday, December 11, 2008The Government of India has awarded GeoGlobal a 100% participating interest in two new onshore Exploration Blocks in India.

India Govt.: 'Next Oil, Gas Blocks Auction Likely By February'
Wednesday, September 24, 2008The Indian government is likely to announce the next auction of oil and gas blocks by February, Petroleum Secretary R.S. Pandey said Wednesday.

India Extends NELP VII Deadline Once Again
Tuesday, May 06, 2008The deadline has been extended to offer more time to potential bidders in lieu of the high demand for the offered blocks, said India's Petroleum Minister.

India Offers 57 Exploration Blocks, Promotional Tour Scheduled
Thursday, December 13, 2007The New Exploration Licensing Policy (NELP) of India offers 57 blocks for bidding, including 29 onshore blocks, nine shallow-water blocks and 19 blocks located in deepwater.

OVL Wants Greater Stake in Venezuelan Field
Monday, March 12, 2007ONGC Videsh (OVL), the overseas investment arm of petroleum exploration major Oil and Natural Gas Corporation (ONGC), wants the Venezuelan government to raise OVL's stake in the San Cristobal field to 49 percent.

GeoGlobal Signs Four PSCs for Onshore India Blocks
Wednesday, March 07, 2007GeoGlobal Resources Inc. has signed production sharing contracts (PSCs) on its four previously awarded exploration blocks in India.

GeoGlobal Wins Four Blocks Onshore India
Friday, February 16, 2007GeoGlobal Resources Inc. said that its award of participating interests in four new onshore exploration blocks in India under the sixth round of the New Exploration Licensing Policy (NELP-VI) has been confirmed.