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20 Apr 2017

Oil producers might have to extend output cuts: Saudi Minister

Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing of the market.

28 Feb 2017

Govt bails out ONGC, OIL of Rs 22,000 cr royalty liability

The central government will pay two state-owned firms' outstanding liabilities of Rs 14,698 crore directly to the state governments, who will not insist on levy of Rs 7,223 crore interest on payments that were due from April 2008.

22 Jan 2017

Oil producers say output cut on track

Oil producers said Sunday that their landmark December deal to slash output by almost two million barrels per day was on track, as they met to review progress.

27 Mar 2015

Govt may exempt ONGC, OIL from payment of fuel subsidy in Q4

The government regulates price of cooking fuels -- LPG and kerosene -- to shield the poor.

27 Mar 2015

India may exempt ONGC, Oil India from paying subsidy in March-quarter

India regulates retail prices of liquefied petroleum gas and kerosene to keep prices under check.

23 Mar 2015

OPEC must work with other producers to boost oil prices: Saudi

Oil producers outside OPEC must cooperate to boost falling crude prices as the cartel refuses to take responsibility alone, the Saudi oil minister has said.

12 Feb 2015

India asks state oil producers to pay $1.75 billion subsidy for December quarter: Source

India has asked oil producers to provide 108.96 billion rupees ($1.8 billion) in subsidies to cover some of the losses of state retailers selling fuel at government-set low rates, a source familiar with the plan said on Thursday.

01 Sep 2014

Splitting subsidy with oil producers credit positive: Moody's

Global rating agency Moody's Investors Service said Monday that the oil ministry's plan to divide fuel subsidies equally between the government and the two state-owned upstream oil and gas producers namely ONGC and Oil India, is credit positive for both companies.

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