"oil"

Around 10.30 a.m., Sensex was trading at 46,867.57, higher by 423.39 points or 0.91 per cent from its previous close of 46,444.18.

On Friday, petrol price was raised by 17 paise per litre and diesel by 22 paise.

Oil Minister Dharmendra Pradhan said with the latest bid round, the government has in the last four years awarded 1.56 lakh square kilometre of acreage for finding and producing oil and gas.

Speaking at the India Energy Forum of CERAWeek, BP's India head Sashi Mukundan said policy and decision making must support raising domestic oil and gas production by adopting best international practices.

The government had offered 11 blocks for exploration and production of oil and gas in the fifth bid round under the Open Acreage Licensing Policy (OLAP). A total of 12 bids seven bids by Oil and Natural Gas Corp (ONGC)

Oil companies left with little cash to meaningfully invest in low carbon alternatives