Bharat Petroleum Corporation Ltd is looking at 600 to 800 strategic sites across the country for its retail outlets expansion, a top official of the company said on Wednesday.
Reliance Industries, the country's largest LPG producer, will be spared from footing the Rs 7,200 crore (Rs 72 billion) bill for the one year freeze in LPG and kerosene prices, despite rising cost.
The bonds will help oil marketing companies - IOC, HPCl, Bharat Petroleum and IBP Ltd - to cover their under-recoveries.
Sarthak Behuria on Tuesday took over as the chairman of Indian Oil Corp, the country's largest oil refining and marketing company.
Supreme Court on Friday issued notices to the Union government and public sector oil majors Hindustan Petroleum Corporation and Bharat Petroleum Corporation on a public interest litigation challenging the Centre's decision to privatise.
Bharat Petroleum Corporation Ltd, the second largest oil marketing company in India, on Wednesday said it would be pumping in Rs 450 crore (Rs 4.5 billion) for retail expansion during this fiscal.\n\n
The divestment of government holding in Bharat Petroleum Corporation and National Aluminium Company would be undertaken simultaneously in the Indian and American markets, according to Communications and Divestment Minister Arun Shourie.
Bharat Petroleum Corporation Ltd on Thursday announced a voluntary retirement scheme for eligible employees and the scheme would remain open till May 31.
Goals by Sabu Varkey and Hari Prasad gave Bharat Petroleum a 2-1 victory in the semi-final league of the Bombay Gold Cup hockey tournament.
Army XI, Bangalore, and holders Western Railway reached the semi-finals of the 44th Bombay Gold Cup Hockey
Concerned over growing resistance from the Opposition and some of the allies of the ruling National Democratic Alliance, the divestment ministry appears to have given up hopes of any big-ticket privatisation.
Bharat Petroleum Corp, Hindustan Petroleum Corp and IBP will turn financially sick by next year as losses arising from freeze on fuel prices are set to erode their net worth, according to oil ministry estimates.
A Parliamentary Committee asked the government on Thursday to seek approval of Parliament before privatising oil refiners Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd as the two were nationalised
Struggling to meet budget targets, the government had in the just concluded fiscal asked cash-rich PSUs to pay second interim dividend as well as undertake share buyback.
Sitharaman raised excise duty and road and infrastructure cess on the auto fuels by Rs 2 per litre each to raise over Rs 28,000 crore.
Aramco also plans to invest in building India's largest oil refinery on the country's west coast.
The government will provide private companies subsidy equivalent to that given to state retailing firms on LPG, petroleum secretary B K Chaturvedi said.
As many as 52 Indian companies raised money from external sources in October, of which $719.52 million was raised through automatic route for which no approval is required from the Reserve Bank of India or the government.
A parliamentary panel has rapped the government for bypassing Parliament in deciding to privatise oil refiners Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp
The government on Wednesday admitted that it would be difficult to realise the targeted Rs 13,200 crore from divestment due to serious constraints arising as a fallout of Supreme Court's judgement on HPCL and BPCL selloff.
Bharat Sanchar Nigam Ltd Employees Union on Friday extended support to the proposed indefinite strike of employees of public sector oil companies against privatisation of HPCL and BPCL.
Government has scrapped kerosene imports by private companies and decided that only state-run firms will import the fuel to end its adulteration in diesel.
Sri Lanka has said it will go ahead with its deal with Bharat Petroleum Corporation Ltd in oil retailing in the island nation despite opposition from the Marxist JVP, or People's Liberation Front, in the coalition government.
The Supreme Court on Monday in-principle agreed to reconsider its earlier judgement on Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd divestment, and stayed proceedings before all high courts concerning divestment.
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