Some airline companies suggest that the fare difference vis-a-vis the Indian Railways is offset by shortage of seats.
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.
Shivaz Rai, owner of a travel agency in Delhi, spent Rs 48,000 on low-cost carrier Air Deccan's Superflier scheme offering coupons for 12 flights to any destination.
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 competition between the two main players vying to lay cross-country natural gas pipelines has undergone a volte-face.
The big-ticket transnational gas pipelines that India was planning seem to be in trouble. Although the government maintains that the three pipelines
Hindustan Petroleum Corporation's upcoming Bathinda refinery in Punjab has forced Indian Oil Corporation to reconsider its plans to expand its refinery at Panipat to 21 mtpa.
The Ministry of Petroleum and Natural gas is likely to reimburse Oil and Natural Gas Corporation almost Rs 850 crore (Rs 8.5 billion) for the cost of exploration and development work in pre-NELP oil fields in the past.
More than one oil company bidding for same overseas assets.
Oil India, the government-owned upstream company, has lined up over $2 billion in the next five years to extend its oil and gas assets overseas
The threat of being priced out of the market by state-owned oil marketing companies has forced the private sector players to also opt for price cuts of auto fuels.
Reliance Industries, which has discovered gas reserves of nearly 14 trillion cubic feet in the Krishna-Godavari basin off the coast of Andhra Pradesh, is building a gas-receiving jetty in Kakinada.
Hindustan Petroleum Corporation, the state-owned company, could find itself becoming a major player in the oil and gas sector both within the country and overseas with huge capital being pumped in by the L N Mittal-promoted Mittal Investments.
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