This year, Coal India plans to gauge the domestic market through a tie-up with MMTC and State Trading Corporation.
The finance ministry has rejected the formula and, instead, suggested an alternative that takes into account well-head prices of suppliers in Qatar, Oman, Abu Dhabi and Malaysia.
LPG alone will save us Rs 8,000 cr a year: M Veerappa Moily.
The company wants 'economic restitution' due to rupee depreciation and changes in law.
Underrecovery from sensitive petroleum products seen at Rs 1,55,000 cr in current fiscal.
Their first target would be bulk buyers.
Based on the panel's formula, the base price of domestic natural gas comes to around $7.4 per million British thermal unit (mBtu), but the pricing formula proposed by RIL, officials say, translates the price into $13-14 an mBtu.
IOC protests, says have invested in these facilities over a period of time.
Delayed compensation and rising working capital requirement force oil marketing firms like IndianOil to turn to borrowings.
As it gets ready for disinvestment of 10 per cent government equity through the offer-of-sale route in January, T K Ananth Kumar, director (finance), tells Jyoti Mukul the company is one of the cheapest explorers and producers of oil and gas, but awaits more predictability in the government-subsidy sharing mechanism.
Appoints Foster Wheeler as consultant to prepare project report.
State-owned explorer's foreign arm wants to invest in exploration & production in the country, which has world's fourth-largest reserves.
Board would start selling the bid documents on November 22.
Problems at refineries, higher home demand for automobile fuels among main reasons.
It will also make up-to-date payment of productivity linked incentives for all licensed category employees between May and June.
Bond issue oversubscribed 15 times despite gloomy sovereign rating.
The three govt-owned OMCs - IndianOil, BPCL and HPCL - together meet the country's entire LPG cylinder demand.
RIL is peeved with the govt for blocking of approvals and non-revision of gas price produced from its underperforming KG-D6 block.
The Houston-based company is selling up to 50 per cent of its oil-sand reserves in Alberta. There are some producing assets and some exploration assets on offer.
A decision has been taken to gradually initiate Aadhaar and non-Aadhaar based LPG subsidy transfer through the OMCs.
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