Oil India to drill in Dibru-Saikhowa National Park from outside

Guwahati: PSU major Oil India Ltd (OIL) on Wednesday claimed it will drill seven wells inside the Dibru-Saikhowa National Park from about 1.5 km distance outside the boundary of the forest with the help of advanced technology. After the company published an advertisement in a leading newspaper on Tuesday about the development, netizens protested on…

U.S. cuts royalties for hard-hit oil, gas drillers

The Trump administration has lowered royalties for several drilling companies producing oil and gas on federal lands, according to a government database, as the industry seeks help weathering low energy prices. The move shows drillers are taking the government up on its offer to consider royalty cuts on a case-by-case basis after rejecting industry calls…

Govt supplied 68 million free cooking gas cylinders free under PMGKY

The government has distributed 68 million free cooking gas cylinders under Prime Minister Garib Kalyan Yojana (PMGKY) since April 1, the oil ministry said. Distribution of free cooking gas cylinder is part of the Rs 1.7 lakh crore package announced on March 26 to provide immediate relief to the poor from the nationwide lockdown to…

Union Minister Dharmendra Pradhan reviews projects worth Rs 8000 crore

Minister of Petroleum and Natural Gas and Steel Shri Dharmendra Pradhan today reviewed pipeline projects worth approx. Rs. 8000 Cr under various stages of implementation by oil and gas companies. Pitching for Atmanirbhar Bharat in pipeline projects, Minister Pradhan called for complete indigenisation in these projects. Through a series of tweets, he provided details of…

Oil rises on lower U.S. stocks, firmer demand

NEW YORK, Oil prices rallied on Wednesday after U.S. crude inventories fell in the most recent week, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins. Oil futures have staged a recovery from recent weakness as production has declined more swiftly than expected, reducing the supply…

Trump Administration Cuts Royalty Rates For Oil And Gas

The Trump administration has started giving energy companies temporary breaks on royalties they must pay for oil and gas extracted from federal lands because of the coronavirus pandemic, amid criticism that the move is a handout to industry and will mean less money for state and local governments. Government data shows companies in Utah receiving…