Sri Lanka’s Minister for Petroleum and Petroleum Resources Development, A. H. M Fowzie, will lead delegation on May 1 to a key meeting in Texas of investors in oil exploration organized by the US embassy in Colombo, reports said. Minister Fowzie and the US ambassador to Sri Lankan Robert O’ Blake are expected to [...]

ONGC has won a large chunk of oil blocks but its track record in drilling oil is so poor that the company wants to tie up with foreign players to get in better technology for developing its deep-sea blocks.
However, the Petroleum Ministry till now is refusing to give ONGC’s proposals for foreign tie-ups the green [...]

Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd sought the approval of Petroleum Ministry to allow them to charter ships for oil imports directly instead of going through Transchart, on lines of similar exemption given to Indian Oil Corporation. Both BPCL and HPCL contended that the flexibility of chartering their own vessels would bring [...]

In a major setback to Reliance Industries, the government has decided to allow companies have monopoly in city gas distribution (CGD) projects to sell natural gas to households and automobiles.
“CGD projects will have marketing exclusivity. A company or consortia granted CGD license for a particular city will have marketing exclusivity for a certain number of [...]

Reliance-ADA Group chairman Anil Ambani today met Petroleum Secretary M S Srinivasan in the backdrop of the government rejecting Reliance Industries’ proposal to sell natural gas to his group firm RNRL at a price agreed mutually, instead of the bidding route.
Besides raising the contentious issue of sourcing gas from RIL’s K-G basin field, Ambani is [...]