New Delhi: Amidst move to force Reliance Industries to sell gas from its main fields in KG-D6 block at old rates of USD 4.2, the Mukesh Ambani-run firm on Tuesday hit out saying the government was no

New Delhi: Prime Minister Manmohan Singh has sought USD 25 billion cut in oil import bill to narrow current account deficit, Oil Minister M Veerappa Moily said on Tuesday.
India, which paid about USD

Finance ministry’s move to drastically change the way petrol and diesel are priced may sound the death knell for some of the domestic oil refineries, an industry association has warned.

Oil ministry will take a proposal for nearly doubling the price of domestically produced natural gas to $8-8.5 per mmBtu to the Cabinet after getting comments on its draft note.

Oil prices eased on profit-taking in Asian trade today after enjoying healthy gains at the end of last week following encouraging US jobs data, analysts said.

New Delhi: The government is “seriously” considering revising rates of auto and cooking fuels but no decision has been taken as yet, Oil Minister M Veerappa Moily said today.
“All price hike or price

Venezuela will hike the amount of oil it is sending to Reliance Industries (RELI.NS) and signed a new 15-year supply contract with the company on Tuesday, the oil minister said.

Oil Minister Rafael R

A trio of state-controlled oil companies on Monday said it has bid $5 billion for stakes in Canadian oil sands assets owned by ConocoPhillips (COP.N), in what could be the next major test of Canada's

The oil and gas behemoth ONGC on Thuesday denied reports that the state-run company has bid USD 5 billion for the Canadian assets of ConocoPhillips along with Oil India and IndianOil, but said it is l

State-owned oil firms are losing Rs 1.37 a litre on petrol despite last month's Rs 0.70 per litre hike in price, Oil Minister S. Jaipal Reddy said on Tuesday but did not indicate if the rates will go