Reliance Industries has slapped an arbitration notice challenging the Oil MinistryĂ´s decision to take away 814 square km (sq km) of its eastern offshore KG-D6 area that contained five gas discoveries.
Tag: Oil Ministry
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Centre seeks more share in extended production contract
The Oil Ministry proposes to raise the governmentĂ´s share by 5 per cent and insist on explorers accepting Delhi as the seat of any future arbitration, irrespective of any other provision in the agreement, for granting extension to production sharing contracts for small and marginal fields.
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Diesel price hike put on hold
The Oil Ministry has put on hold further diesel price increases.The oil firms said there was no need to increase rates because an expert committee headed by Kirit Parikh had suggested that the government should provide a subsidy of Rs 6 a litre on diesel.
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Diesel price hike put on hold
The Oil Ministry has put on hold further diesel price increases.The oil firms said there was no need to increase rates because an expert committee headed by Kirit Parikh had suggested that the government should provide a subsidy of Rs 6 a litre on diesel.
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Govt cancels Punj Lloyds contract for constructing RGIPT
The Union Oil Ministry has terminated Punj Lloyd's contract for constructing Rajiv Gandhi Institute of Petroleum Technology (RGIPT) in Rahul Gandhi's parliamentary constituency, citing non-performance and re-tendered the Rs 435-crore project. The ministry wants to scale down the project to expeditiously complete it before the general elections scheduled next year.
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Regulator for oil and gas fields proposed
A Group of Ministers (GoM) on corruption has asked the government to create an independent regulator for oil and gas fields. The GoM has proposed that the new regulator should take over critical functions of the Directorate General of Hydrocarbons(DGH),which reports to the Oil Ministry and is its technical arm for issues involving oil and gas exploration and production contracts.
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Oil Min against independent regulator
The Oil Ministry accepted Chawla Committee's recommendation to make functioning of the Directorate General of Hydrocarbon (DGH) more transparent to prevent corruption charges.