Nelp

Govt to launch auction of 60 oil and gas field in second round of bidding on 9 August

The fields on offer hold an estimated 1.4 billion barrels of oil and oil equivalent gas.

Govt allows companies to explore for oil, gas beyond block boundaries

In a bid to make it easier for explorers to find and produce more oil and gas, the Government has allowed companies to go beyond their allocated block boundaries if a discovery were to extend outside their contracted area

Ease of doing business: Cabinet delegates powers to oil, finance ministers to award oil blocks

Till now, only the Cabinet headed by Prime Minister had the powers to approve award of an block or area for exploration and production of oil and gas

Modi govt two years on: Here are five steps that will help economy take off

Another big plus for the government is the launch of new social security schemes relating to insurance and pension, which will also be delivered directly into the Jan Dhan accounts.

Cabinet clears auctioning of ONGC, Oil India fields to private firms

The weight for revenue share will be 80 percent while 20 percent would be for work programme that may include drilling of exploratory and development wells and seismic studies.

India to auction oil and gas blocks this fiscal, says Dharmendra Pradhan

The minister said investors are "happy" with the current gas pricing formula which is reviewed every six months.

Reliance Industries seeks freedom to fix gas prices, says talks with govt constructive

RIL had won the KG-D6 block in Bay of Bengal under the first round of bidding under New Exploration Licensing Policy (NELP) round in 2000.

India's new gas pricing formula makes no sense, says energy expert Fereidun Fesharaki

Slamming the new natural gas formula as making "no sense", world renowned energy expert Fereidun Fesharaki has said only guaranteed market prices along with stable policy regime would bring in investments from global majors.

Manmohan insisted KG D6 CAG audit shouldn't hurt private sector, says Vinod Rai's book

Elaborating on the matter, which had snowballed into a major controversy with CAG accusing RIL of not being given access to books of accounts required for this audit, Rai said during one of his meetings Singh "felt that audit should not act as a dampener on the enthusiasm of the private sector to partner with the government".

RIL welcomes gas price notification as step in right direction

RIL will get the benefit of the new price for gas from its existing fields like MA in the KG-DWN-98/3 or KG-D6 block and new/upcoming ones like R-Series and satellite in the KG Basin block and the ones in North East Coast block NEC-25.