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India May Peg Local Gas Price to Asia LNG
Friday, September 25, 2020The proposal reportedly would peg the price to the popular benchmark Japan-Korea Marker.

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.

ONGC Plans to Drill 17 Exploration Wells in India's Shale Oil, Gas Blocks
Tuesday, April 26, 2016ONGC intends to drill up to 17 shale oil and gas exploration wells in India for around $105 million.

Iran, India Sign MoU to Develop Oil, Gas Projects
Monday, April 11, 2016Iran and India sign a memorandum of understanding to develop oil and gas projects, according to Iranian Petroleum Minister Bijan Zangeneh.

PetroNeft Agrees 2016/17 Work Program with Oil India
Monday, March 21, 2016PetroNeft reaches an agreement with Oil India for a budget and work program in 2016 and 2017 within license 61.

India ONGC Submits Revised Development Plan for Iran Gas Field
Monday, August 24, 2015India's ONGC Videsh submits a revised proposal seeking the development rights of Iran's giant gas field Farzad B.

India to Use Market Pricing for Part of Future Gas Finds in Complex Fields
Tuesday, August 11, 2015India plans to introduce a new market price formula for part of future gas finds made in challenging environment, according to the country's Petroleum and Natural Gas Minister.

PetroNeft: Significant Production Growth Expected in 2015
Tuesday, June 23, 2015PetroNeft announces in its annual results statement for 2014 that it expects a significant boost in production this year.

Official: India to Auction 69 Marginal Fields Owned by ONGC, Oil India
Tuesday, April 21, 2015India will soon auction 69 marginal oil and gas fields owned by state explorers Oil and Natural Gas Corp and Oil India Ltd, the country's oil secretary says.

Oil India Boosts War Chest as Company Plans to Acquire More Upstream Assets
Thursday, November 27, 2014Oil India plans to increase its budget by around 10% next year as the company embarks on an acquisition trail for upstream assets worldwide.

Executives: ONGC, Oil India Complete $873M Stake Buy in IOC
Friday, March 14, 2014India's ONGC and Oil India complete the purchase of a 10-percent stake in state refiner India Oil Corp for $873 million.

Minister: India Approves 10% IOC Stake Sale to State Oil Firms
Thursday, January 16, 2014The Indian government approves the sale of a 10-percent stake in state refiner Indian Oil Corp to state exploration firms ONGC and Oil India.

India Firms Relying on Foreign Companies for Domestic Shale Drilling
Friday, October 04, 2013ONGC and Oil India Ltd. will tap the expertise of foreign firms to hunt for shale oil and gas in the energy-hungry nation, officials at the two firms say.

Oil India, ONGC to Buy Mozambique Gas Stake; Kazakh Deal Looms
Tuesday, June 25, 2013Oil India and ONGC say they will pay $2.48B for a 10% stake in an offshore Mozambique gas field, just one week before the deadline for an ONGC bid for Kazakhstan oil assets.

ONGC, Oil India to Buy Stake in Mozambique Gas Field
Monday, June 10, 2013ONGC and Oil India agree to buy a 10% stake in a Mozambique oil and gas field from a unit of Videocon Industries for $2.47 billion.

ONGC, Oil India in Mozambique Gas Field Bid
Friday, March 15, 2013India's Oil & Natural Gas Corporation and Oil India have jointly bid to buy a 20-percent stake in an Anadarko-operated Mozambique oil and gas field.

India State Cos Acquire 30% Stake in Carrizo's Shale Asset
Thursday, October 04, 2012Oil India Ltd. and Indian Oil Corp. said they will acquire a 30% stake in Carrizo's Niobrara shale oil acreage in Colorado, gaining entry to America's booming shale industry.

Indian Consortium Bids for ConocoPhillips Assets in Canada
Monday, September 24, 2012A consortium of India's state-run companies have jointly bid to acquire stakes in oil-sands assets owned by ConocoPhillips in Canada that are valued around $5B.

India to Allow Foreign Company Bids in Shale Gas Licensing Round
Wednesday, August 01, 2012India will allow foreign companies to bid in its first round of shale-gas licensing, as part of efforts to fast-track exploration of unconventional resources.

Oil India Plans to Invest $4B in Five Years to Raise Output
Tuesday, September 13, 2011Oil India plans to raise its capex 73% to about $4B in the 5 years starting April 2012 as the state-run explorer seeks to sharply raise O&G production.

India Approves Award of 33 Oil and Gas Blocks
Friday, March 19, 2010The Indian government Friday approved the award of 33 oil and gas blocks nearly six months after the blocks were auctioned under NELP VIII.

India Gives Thumbs Up for $2B Carabobo Oil Investment
Friday, March 19, 2010The Indian government Friday approved an investment of $2.18 billion during 2010-2015 by three state-run oil companies in Venezuela's Carabobo 1 oil block.

OVL Consortium to Develop Heavy Oil Blocks in Orinoco Belt
Thursday, February 11, 2010An OVL-led consortium was awarded a 40% ownership interest in a Mixed Company that will develop the Carabobo 1 Norte and Carabobo 1 Centro blocks located in the Orinoco Heavy Oil Belt.

Companies Face Stiff Competition for Iraq's Prized Oil Fields
Thursday, December 10, 2009Competition is expected to be fierce between international companies for some of Iraq's 10 oil and gas fields at a licensing auction in Baghdad Friday and Saturday.

India Finalizes Farsi Gas Block Development Plan with Iran
Thursday, December 03, 2009The Indian government is in the process of finalizing the master development plan with National Iranian Oil Co. for the Farzad-B gas field, according to junior petroleum minister Jitin Prasada.

India May Revamp Oil Round Terms; OK on Oil Price
Monday, September 28, 2009India hopes to raise nearly $3 billion in investment via its 2009 oil and gas exploration licensing round.

India Cos Unlikely to Produce Oil from Iran Block
Tuesday, September 15, 2009According to a senior executive, India's state-run oil companies will likely not produce any oil from Iran's Farsi block due to the low value of high-sulfur crude and low returns on investment, but natural gas resources could be developed.

Indian Oil Cos Could Invest $5B in Iran Gas Field Devt
Monday, September 07, 2009ONGC Videsh and its partners Indian Oil and Oil India could invest $5 billion to develop a massive gas field they discovered in offshore Iran.

India's Oil Cos Propose $5B Investment in Iranian Gas Block
Thursday, June 25, 2009India's state-controlled oil companies are proposing to invest some $5 billion in a gas discovery located in Iran's Farsi Block.

Rocksource Clarifies Operations at Block CY-DWN-2001/1
Monday, November 03, 2008Rocksource has clarified that the partnership has completed the first of three wells in the work program for block CY-DWN-2001/1, and that the well did not encounter any moveable hydrocarbons.

Rocksource Farms-In to ONGC's Offshore India Block
Tuesday, September 16, 2008Rocksource signed an agreement with ONGC to farm into 10% of the exploration block CY-DWN-2001/1 located in the Cauvery Basin, offshore south eastern India. ONGC is the Operator with Oil India and Petrobras as partners.

Rocksource Nabs 10% Equity Stake in Indian Shelf Block
Monday, September 08, 2008Rocksource has concluded negotiations to complete a farm-in agreement with ONGC for a 10% equity stake in exploration block CY DWN 2001/1 on the Indian Shelf.

Indian Oil Exec Says Iran Farsi Block Gas Devt. May Cost $3B
Friday, June 13, 2008Indian Oil Corp., along with other state-run Indian oil firms, is eyeing a $3-billion project to develop the gas find in Iran's Farsi block, a senior company executive said Friday.

NOC Signs Exploration and Production Sharing Agreement in Libya
Tuesday, May 27, 2008The National Oil Corporation signed an Exploration and Production Sharing Agreement with a Consortium, including Sonatrach, Oil India and Indian Oil.

IOC, Oil India Join Hands with Algerian, Explore Libyan Block
Wednesday, January 23, 2008Indian Oil Corporation Ltd (IOC) and Oil India Ltd (OIL) have joined hands with Sonatrach, the national oil company of Algeria, for production of oil in a Libyan onshore block.

Gail India and OIL to Bid Jointly for Exploration Blocks
Thursday, December 27, 2007Gail India Ltd and OIL India Ltd signed a MoU for joint cooperation in various business areas, including jointly participating in NELP VII bidding round as well as the possibility of bidding jointly for overseas exploration blocks.

ONGC Videsh Consortium Finds Oil, Gas Offshore Iran
Wednesday, May 09, 2007A consortium led by India's ONGC Videsh Ltd. has recently struck oil and gas offshore Iran in what could be India's biggest hydrocarbon gas find overseas in recent years.

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.

ONGC: No Plans to Sell Assam Assets
Tuesday, August 08, 2006In response to media reports claiming that Oil and Natural Gas Corporation Ltd. (ONGC) plans to sell all of its oil fields in the country's Assam state to Oil India Ltd. (OIL), Assam, ONGC has issued the following statement:

ONGC Videsh & IOC-OIL to Bid in Nigeria's Licensing Round
Wednesday, June 08, 2005ONGC Videsh Ltd. and the Indian Oil Corp.-Oil India Ltd. consortium will bid for four or five blocks in Nigeria's upcoming upstream round.

Vanco Announces Drilling Plans for Block CI-112
Thursday, December 16, 2004Vanco and its partners finalize drilling plans for Block CI-112 offshore Cote d'Ivoire.

ONGC Videsh Begins Survey in Farsi Block Offshore Iran
Tuesday, March 02, 2004Fugro's seismic ship, GeoBaltic, recently sailed from Sharjah port to the Farsi block offshore Iran to begin seismic data acquisition work.