The divestment of HPCL and BPCL may be delayed by at least three years because of "existing hurdles", prime minister's economic advisory council committee member and BJP national executive member Jagdish Shetigar said on Thursday.
The government on Wednesday said there was no proposal to either merge Hindustan Petroleum and Bharat Petroleum with Oil and Natural Gas Corp or Oil India Ltd with Indian Oil Corporation.
Oil and Natural Gas Corporation said on Thursday that it would like to acquire public sector oil companies -- Hindustan Petroleum Corporation and Bharat Petroleum Corporation.
Faulty laws helped oil majors IOC, HPCL and BPCL -- to avoid excise payment of Rs 713 crore (Rs 7.13 billion) to the government during April-December 2002, the Comptroller and Auditor General of India has said.
Sri Lanka on Monday put off indefinitely a decision to sell off part of the state-run oil company to Bharat Petroleum as trade unions threatened to stop work, triggering panic buying at petrol stations across the country.
Divestment Minister Arun Shourie will meet Law Minister Arun Jaitly in New Delhi on Thursday to consider options before the government and chalk out future strategy.
While BPCL has been ranked third in the poll, Reliance is at the fourth position adn HPCL 8th.
State-run Bharat Petroleum Corp Ltd on Wednesday said it has tied up with Hindustan Lever Ltd and three other kitchenware brands for selling grocery items to its LPG customers through its distributor network.\n\n\n\n
The Supreme Court on Friday reserved its order on petitions challenging the Union government's decision to privatise oil sector PSUs Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd.
Contrary to popular perception of public sector oil firms making huge profits on selling petrol and diesel by gold plating the cost, Indian firms have second lowest refinery and marketing margins - profits - in the world.
Oil refining companies, to a large extent, benefited from high gross refining margins during FY04 as a result of firm product prices in international markets
The government has asked Supreme Court not to stay the privatisation of public sector oil majors -- Hindustan Petroleun Corporation and Bharat Petroleum Corporation
Indian Airlines beat Bharat Petroleum while Indian Oil beat Air India in the Super League stage of the Maharaja Ranjit Singh hockey tournament.
The government is keen on getting global oil majors like Saudi Aramco and National Iranian Oil Corp on board Hindustan Petroleum and Bharat Petroleum through the market route even though privatisation of the state-run oil refining and marketing compa
The banned cricketer will play for his employers Bharat Petroleum Corporation in the 24th PSPB inter-unit cricket tournament.
Public sector oil firms spent over Rs 800 crore (Rs 8 billion) on advertisements during the last three years with Indian Oil Corp topping the list with an expenditure of Rs 275.35 crore.
Eight renowned Indian and global merchant bankers will vie with each other on Friday to become the global advisors for privatisation of Bharat Petroleum Corporation.\n\n\n\n
Reliance Industries Ltd will sell 4.3 million tonnes of petroleum products from its 33 million tonnes Jamnagar refinery in Gujarat to public sector oil retailing companies in 2004-05.
Oil marketing companies on Friday cut petrol price by 32 paise, and diesel by 85 paise a litre with effect from midnight tonight.
Opposition in the Lok Sabha on Thursday took the government to task for its moves to divest its stake in oil majors -- Hindustan Petroleum Corporation and Bharat Petroleum Corporation
Reliance Industries Ltd, India's sole private sector refiner, on Monday sought Petroleum Minister Ram Naik's help in getting public sector oil companies to buy fuel from its 33 million tonne Jamnagar refinery in Gujarat.
Angry Congress, Samajwadi Party and Left party members on Thursday stalled Question Hour in Lok Sabha for about 15 minutes.
The government on Friday said it will not increase prices of domestic cooking gas (LPG) and kerosene despite the Budget cutting to half the subsidy on the two mass consumed cooking fuels from April 1.
Bharat Petroleum Corporation Ltd on Thursday said it lost Rs 1,200 crore (Rs 12 billion) in the first quarter of the current fiscal due to selling petrol, diesel, LPG and kerosene below cost price.
Workers of state-owned Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd returned to work on Friday after a three-day strike to oppose privatisation of the cash-rich oil refiners.\n\n\n\n
The strike by workers of state-owned oil firms Hindustan Petroleum Corp and Bharat Petroleum Corp to oppose privatisation of the cash-rich refiners entered the second day on Wednesday but operations and petroleum product supplies remained unaffected.
IDBI Bank and Bharat Petroleum Corporation Ltd have inked a business-2-business e-commerce tie up aimed at customers of the latter's Rs 8,000 crore (Rs 80 billion) industrial and commercial strategic business unit.
At least half a dozen national and international oil giants, including Reliance and Royal Dutch Shell, joined the race, on Friday, for acquiring government's 34 per cent stake in Hindustan Petroleum Corporation Ltd.
Government has begun drawing contingency plans to avert any shortage of domestic cooking gas as a result of go-slow agitation by employees of the country's largest oil company Indian Oil Corp.
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