Oil Sector

Petroleum Ministry sets up National Data Repository

Union Ministry of Petroleum and Natural Gas (MoPNG) has set up state of-the-art National Data Repository which is database of all geo-scientific data of hydrocarbon resources in the country. It is equipped with cutting-edge technology and will provide ready access ..

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Mongolia launches construction of its first oil refinery with $1 billion Indian aid

Mongolia has launched construction of its first strategically important oil refinery funded by India in southern Dornogovi province. The ground-breaking ceremony of long-awaited project was attended by Mongolian Prime Minister Khurelsukh Ukhnaa and Indian Minister of Home Affairs Rajnath Singh.  ..

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CCEA approves selling 51% stake in HPCL to ONGC

 The Cabinet Committee on Economic Affairs (CCEA) has approved sale of government’s 51.11% stake along with management control in HPCL (Hindustan Petroleum) to ONGC. HPCL will continue as PSU after the acquisition. HPCL will add 23.8 million tonnes of annual ..

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First meeting of Integrated Monitoring and Advisory Council held in New Delhi

The first meeting of the newly formed Integrated Monitoring and Advisory Council (IMAC) was held in New Delhi.  It was chaired by Union Minister of State (I/C) for Petroleum and Natural Gas Dharmendra Pradhan. IMAC is an inter-ministry monitoring and ..

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India to import crude oil from US for first time

India, the world’s third-largest oil importer, for the first time will import crude oil from the United States. The purchase comes after Prime Minister Narendra Modi’s visit to the US in June 2017 when President Donald Trump had assured that ..

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Government announces new licensing policy to boost oil output

The Union Ministry of Petroleum & Natural Gas has announced new Open Acreage Licensing Policy (OALP) for oil and gas exploration. The new policy will allow bidders to carve out areas where they want to drill. It will help energy hungry ..

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