Petroleum ministry rejects conclusions of two reports ahead of EGoM.
The proposed 7.5 million tonne per annum refinery was to process crude oil from Cairn India's field in Barmer, which is expected to start producing in the first half of 2009.
The Essar group has also closed down 275 outlets across the country. The two companies could not withstand 'unfair competition' from government-backed companies which are compensated for selling fuel at subsidised rates.
According to a petition filed by Quadrant in the Delhi High Court, Travel Guru allegedly copied its software solution 'Final Quadrant SuiteCase'.
The proposed India-Iran Double Taxation Avoidance Agreement, which the two countries included in their joint New Delhi declaration in 2003, has run into a hurdle.
Defence officials contend that the services do not use spectrum for 'commercial purposes' and therefore do not need to pay for it.
The hike in prices of petrol and diesel seems to have been put on the backburner with the price of the basket of crude oil that Indian refiners
The company is in the process of doubling its production to 800 oil barrels a day from the current 400 barrels a day, from a part of the field called prospect-B.
The official explained that the contractor would take the worst-case scenario into account "to be on the safe side", when working out the field development plan and the probable cost of exploration and development of the block.
The country's largest marketer of petroleum products is facing troubles in Sri Lanka, one of the two overseas markets where it sells fuel through its fully owned subsidiary, Lanka IOC. The other country is Mauritius.
The petroleum ministry has rapped Reliance Industries for failing to meet its obligations of opening and operating 10 per cent of its petrol and diesel retail outlets in remote and low-service areas.
The government is considering a proposal to examine foreign direct investment applications on a sector-wise, rather than country-wise, basis to assess their threat to national security.
The shortage of drilling rigs across the world is likely to delay the seventh round of auction of oil and gas blocks, under the New Exploration and Licensing Policy, till October-November this year.
Move could delay FDI liberalisation in the sector.
The government is likely to clear the price quoted by Reliance Industries Ltd for its gas from the Krishna-Godavari basin without seeking to control the price.
Contrary to the income tax department's hopes, many taxpayers continue to attach annexures (documents like tax deducted at source certificates etc) with the so-called annexure-less tax return forms introduced from this year.
Rs 35,000 crore investment to increase capacity by 75%.
The railway ministry has decided to sell a 20 per cent stake in RITES Ltd, an undertaking of the ministry which, among other activities, operates railway networks in some African countries, in an initial public offer.
The Fortune 500 company -- it recently improved its rank to 135 -- has identified forward integration into petrochemicals as its next big business opportunity.
The fertiliser and power companies say that the cost of gas would be too high, making operating on gas economically unviable.
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