June 11, 2026: What Precisely Is The Much Trumpeted PMYU Scheme? Click column Special Database for details.

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June 10, 2026 | India needs to stop This Reckless Drilling: India has very large sedimentary basins that contain hydrocarbon deposits though not in significant quantities. Indian companies have been wrestling with the challenge of finding sufficiently large reserves of oil and gas. Professionally managed E&P companies try to mitigate the risk by carrying out extensive seismic and geological surveys and then learn to limit exploration to those areas that geologists identify as prospective fields. The state-owned E&P companies are run today by professionally competent people. But success has eluded them largely because they have inherited a system that cannot be restored to health without drastic surgery. Over the last five years, ONGC’s cumulative capital expenditure for exploration and production (E&P), which includes extensive seismic surveys and drilling costs, stood at approximately $18 billion (Rs 1500 billion). Over the last five years, ONGC drilled a total of 2,635 wells. Oil India drilled a total of 294 wells. This obviously raises a question: Can the country afford to continue making such huge investments without any sign of enhanced domestic production? At the same time, the lifting cost of oil has reached $ 45 a barrel in the case of ONGC. Click Free Access Column Petro Intelligence to read an insightful piece.