In a significant development, the government may allow state gas utility GAIL India to charge a marketing margin on sale of APM or subsidised natural gas.
The Union petroleum ministry has proposed a 44 per cent increase in prices of natural gas sold under the administered price mechanism by state-owned Oil & Natural Gas Corporation and Oil India Ltd.
The government may in 'weeks' decide on raising price of natural gas produced by state-owned ONGC and Oil India by 30 per cent, petroleum secretary S Sundareshan said on Monday.
'The question often being asked is whether the demand for petrol and diesel is price inelastic?' asks Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
The public sector oil refining and marketing companies Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are back on the radar of investors as their profit levels reach record highs.
The Cabinet Committee of Economic Affairs has approved a hike in gas prices from April 2014.
The Petroleum Ministry has proposed a 33 per cent hike in the price of natural gas produced by ONGC and Oil India and gradually increase it to $4.20 per mmBtu set for gas from Reliance Industries' KG-D6 fields.
Reliance Industries Ltd, India's largest private sector oil firm, has sought compensation similar to what is extended to public sector fuel retailing companies
ONGC's chairman and managing director Sudhir Vasudeva tells Business Standard that any price for natural gas that is more than $4.2 a unit is good for the company.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
10 interesting things you must know about the indigenously-built guided missile destroyer INS Mormugao
INS Kochi, the second ship of the Kolkata-class (Project 15A) Guided Missile Destroyers, will bolster the Indian naval fleet when it is commissioned on Wednesday.
The Cabinet Committee on Economic Affairs may this week decide to price all domestically produced natural gas as per a formula suggested by a panel headed by Prime Minister's economic advisor C Rangarajan.
The project has been delayed by three years, after a consortium of Port of Singapore and ABG Ports, which had won the bid by offering to share more than 50 per cent of the revenue with JNPT, backed off from the project, citing several reasons.
The sharp fall in oil price is positive for oil marketers as subsidy concerns reduce further.
Industry demands the basic customs duty on all steel imports to be raised to 25%
A day after deciding to nearly double natural gas prices to $8, Finance Minister P Chidambaram on Friday hinted that power and fertiliser units may get gas at subsidised rates to keep electricity and urea costs down.
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