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Reduce petrol tax by Rs 6 per litre: Oil Ministry
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The oil ministry has asked for a tax cut of Rs 6 per litre on petrol to help avoid a sharp rise in retail price of the fuel, but the finance ministry, which has already surrendered Rs 49,000 crore by reducing various levies of fuels last year
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PM to inaugurate Bhatinda refinery tomorrow
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The Prime Minister, Dr Manmohan Singh, will tomorrow inaugurate the $4-billion refinery built by a joint venture of state-owned Hindustan Petroleum Corporation Ltd
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RIL's gas output from KG-D6 falls below 34 mmscmd/day
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Gas output from KG-D6 in the week ended April 1 dropped to 33.89 mmscmd from 34.09 mmscmd in the previous week, according to a status report filed by the company with the Oil Ministry.
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Have agreed to decontrol diesel prices, not LPG: Govt
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The government said on Tuesday that it has agreed in—principle to deregulate diesel prices, but is not considering similar proposal for the cooking gas.
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Crude oil output drops 2.9% in March, gas down 10.1%
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The country’s natural gas output has fallen for the 16th straight month in March by 10.1 per cent year-on-year. Crude oil production, too, dipped by 2.9 per cent.
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Government to deregulate diesel prices
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The government has "in-principle" agreed to deregulate diesel prices, but there is no such proposal for cooking gas, Minister of State for Finance Namo Narain Meena said Tuesday.
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ONGC to go ahead with oil exploration
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Oil giant ONGC along with a Vietnamese company will launch joint exploration for oil in the South China Sea despite objections from China, a top company official said today, reports PTI.
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Decision over diesel price reforms evokes mixed reactions
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Chief Economic Advisor Kaushik Basu's statement on deregulating diesel prices and tough decisions on subsidies evoked mixed reactions from politicians and economic experts
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Petrol pump dealers defer strike
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Petrol pump dealers have deferred a nation-wide strike from Monday after the Oil Minister, Mr S. Jaipal Reddy, agreed to consider their demands that include levying charges for providing facilities
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Petrol pumps to stay shut on Monday
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Petrol pumps across Mumbai will go dry on Monday as part of a one-day nation-wide stir for a hike in commission rates.
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IOC threatens to hike petrol prices
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India's largest refiner Indian Oil Corporation (IOC) has said all state-run retailers will increase the price of petrol by nearly Rs 10 per litre if the government did not decrease excise duty
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Cut excise or we hike petrol price by Rs 10/L, says IOC
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Taking a cue from the RBI governor D Subbarao, market leader Indian Oil Corporation indulged in grand standing on Tuesday by saying state-run retailers would raise petrol price by almost Rs 10 per litre
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Oil firms ask government to compensate them
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Three state-owned oil marketing companies (OMCs) Tuesday asked the government to temporarily declare petrol as a regulated commodity, reduce state sales tax and provide hundred percent cash compensation to them as they will be unable to sustain the current prices.
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IGL plea: Delhi High Court fixes April 19 for hearing
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The Delhi High Court has fixed April 19 as the date for the final hearing on Indraprastha Gas Ltd's (IGL) plea challenging the order of the Petroleum Natural Gas Regulatory Board
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IGL moves court against order to cut CNG price
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If the oil and gas marketing regulator has its way, the price of natural gas sold as automotive and kitchen fuel in Delhi would come down by 12%-15% and consumers would get some of their money back on bills paid
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GSPC hikes CNG, PNG prices
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The state public sector undertaking (PSU), GSPC Gas has hiked piped natural gas (PNG) prices by 30 per cent and compressed natural gas (CNG) prices by 10 per cent.
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HPCL to supply engine oil to Force Motors
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Pune-based Force Motors has entered into an agreement with Hindustan Petroleum Corporation Ltd (HPCL) for supply of engine oil, the company said in a news release.
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India, Qatar sign oil pact, discuss Indians' welfare
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India and energy-rich Qatar, home to half a million Indians, Monday sealed six agreements in diverse areas, including an overarching pact on cooperation in oil and gas exploration.
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Gas utility stocks take a beating on tariff cut order
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Gas utility stocks took a beating after the Petroleum and Natural Gas Regulatory Board directed Indraprastha Gas Ltd to cut tariffs.
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Numaligarh Refinery hopes to restore full operations in 15 days
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The 3 million tonne Numaligarh Refinery Ltd may take at least a fortnight to start full operations, according to company sources.
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UP petroleum traders seek VAT reduction
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The Uttar Pradesh Petroleum Traders’ Association has requested the Chief Minister, Mr Akhilesh Yadav, to reduce the VAT rates on petroleum products and bring it at par with Delhi and Haryana.
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India bends rules to secure oil from warring Sudans
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While admitting that the decision to send a special envoy to South Sudan and Sudan to broker peace between the two nations was a policy departure for India
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South China Sea is property of world: Krishna
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The South China Sea is the property of the world and must be free for trade to prosper, external affairs minister SM Krishna said Friday after China warned India against exploring oil in the area.
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ONGC may nominate MRPL for Rajasthan refinery
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ONGC's worries over setting up a refinery in Rajasthan are far from over, with the issue now gaining political overtones.
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ONGC breaks all previous records in Tripura
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The ONGC Tripura Asset has made remarkable achievements during 2011-12 in the area of gas production as well as drilling of wells here.
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