Supply of the much-needed gas to Dabhol is set to be delayed again. The reason: shortage of pipes required to build the Dahej-Uran pipeline which will feed the gas to the plant.
The rising rupee over the last three months has brought cheer to the oil marketing companies, who have together added around Rs 250-300 crore (Rs 2.5-3 billion) to their operating profits already.
Finance Minister P Chidambaram's efforts to bring down cement prices have finally borne fruit as cement manufacturers have introduced cuts in prices.
In a bid to attract "big oil" to India, the government is close to finalising an Open Acreage Licensing Policy, which gives companies a round-the-year window to pitch for oil and gas in blocks of their choice.
The petroleum ministry has projected a strong year for the oil marketing companies though the largest exploration company, Oil and Natural Gas Corporation, is projected to post a moderate gain in its bottomline.
Maharashtra will get some respite from its power crises next week
Prices of most commodities on which the government imposed an export ban to check inflation have risen sharply, touching an all-time high in cases.
The New York-bound fruits will be the second success story in a row for the King of Fruits. Last year, Indian mangoes were exported to Japan for the first time after a gap of 20 years.
The environment ministry has proposed to offer wasteland available with it to investors through multi-stakeholder partnership.
The quantum of hike had not yet been worked out, but it was likely to be Rs 2 a litre for petrol and Re 1 a litre for diesel.
The proposal to hive off the LNG terminal at the revived Dabhol power plant in Maharashtra is likely to be scrapped, with promoters and financiers agreeing to pump in Rs 24 billion to restart construction work at the plant.
The shares of oil marketing companies have been firming up in the current financial year though the Indian crude oil basket is quoting above $65 a barrel, as investors took long-term.
In all, Reliance has a stake in 34 exploration blocks in the country.
With the price of gas from its fields in the Krishna-Godavari basin expected to be higher than rivals, Reliance Industries is targeting automobiles and domestic users because power and fertiliser plants may not be able to afford it.
The Ministry Of Petroleum and Natural Gas has ruled out a hike in the prices of petrol and diesel in the near future even as the price of the Indian basket of crude oil continues to remain above $65 a barrel.
Even as Minister of State for Petroleum Dinsha Patel has told the Rajya Sabha that new connections are easily available for genuine customers, householders all over India are facing an acute shortage of LPG cylinders.
India may be trying to become a crude oil refining hub but the country's apex planning body has raised doubts on the feasibility of adding more refining capacity.
There seem to be some more delays in the pipeline for the decade-old Bathinda refinery project of Hindustan Petroleum Corporation in which Mittal Investments recently announced its decision to pick up 49 per cent stake.
The country's leading steel companies were considering a price increase of Rs 1,000-2,000 per tonne from April 1, despite a partial rollback last month.
The competition between the two main players vying to lay cross-country natural gas pipelines has undergone a volte-face.
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