Oil Ministry

India's fuel demand expected to rebound to 3.8% in FY21; diesel to witness 2.8% growth next fiscal

Fuel consumption in the current fiscal ending 31 March will grow by just 1.3 percent, its slowest pace in six years.

Oil Ministry pitches for inclusion of natural gas in GST to promote use of environment-friendly fuel

Ahead of the Union Budget, the Oil Ministry has made a renewed pitch for inclusion of natural gas in the ambit of GST to promote the use of the environment-friendly fuel by reducing multiplicity of taxes and improving business climate

US replaces Kuwait as India's sixth biggest oil supplier; exports 5.4 mn tonnes of crude in April-September 2019

The United States has surpassed Kuwait to become India's sixth-largest oil supplier as it supplied 70 percent more crude to the world's third-largest energy consumer during April-September

Hassan Rouhani calls US sanctions on Tehran's blacklisted central bank a 'desperation' in face of Iranian resistance

Iranian President Hassan Rouhani said on Monday new US sanctions, under which Iran’s central bank was blacklisted for a second time, pointed to US “desperation” in face of Iranian resistance

Boris Johnson accuses Tehran of attacks on Saudi oil installation ahead of meeting with Iranian president Hassan Rouhani in New York

British Prime Minister Boris Johnson accused Tehran of being behind attacks on Saudi oil installations, in remarks to reporters en route to New York where he will meet with Iran's president

Saudi Arabia committed to meet India's energy security needs amid disruption in global oil supply, says Ambassador Saud bin Mohammed Al Sati

In the midst of disruption in global oil supply following the biggest-ever attacks on its oil installations, Saudi Arabia has said it is committed to meet India's energy security needs and will work constructively with other oil producers to maintain market stability

Aramco drone strikes: Saudi Arabia assures India of no oil supply shortage, says oil ministry

India, the world's third-largest oil consumer, will not be hit by a reduction in production at its No. 2 supplier Saudi Arabia, the Oil Ministry said on Monday

India's fuel demand growth slows to nine-month low of 2.8% in August, reveals oil ministry data

India’s fuel demand rose 2.8 percent in August compared with the same month last year, but were at their lowest level in nine months

Govt considers splitting GAIL, to hive off pipeline business into a separate entity, sell it to strategic investor

GAIL is India's biggest natural gas marketing and trading firm and owns more than two-thirds of the country's 16,234-km pipeline network, giving it a stranglehold on the market.

Govt sends ONGC into a tizzy; asks PSU to sell golf courses in Ahmedabad that has two oil wells

After the Motera field was discovered in Ahmedabad, ONGC was wary of encroachment around the oil wells in a city that was developing into a megapolis