Public sector oil firms plan to set up over 4600 petrol stations and 907 LPG sale agencies in the current fiscal, Petroleum Minister Mani Shankar Aiyar said on Thursday.
Attorney General Soli Sorabjee is likely to give by Friday his opinion on legal aspects of divestment of oil PSUs HPCL and BPCL, which were nationalised through Acts of Parliament.
State-run Bharat Petroleum Corporation Ltd on Wednesday said it will invest up to Rs 350-400 crore (Rs 3.5-4 billion) this fiscal to add about 1,500
The Cabinet Committee on Divestment failed to take any decision on the divestment of public sector oil companies -- Hindustan Petroleum Corporation and Bharat Petroleum Corporation.
Arun Shourie, Union Minister for Divestment, said that the next meeting of the Cabinet Committee on Divestment would discuss the sell-off modalities of HPCL and BPCL.
India's only private sector oil refiner, Reliance Industries, has sought a two-year extension of its agreement with Indian Oil Corp to sell Jamnagar refinery products through the state-run firm's retail network.
Bharat Petroleum Corp Ltd, which is expanding its Mumbai refinery to 12 million tonnes, will invest another Rs 1200 crore (Rs 12 billion) to produce auto fuel compliant with Euro-IV emission norms.
Labour unions on Monday threatened to go on a lightning strike the day government invited bids for privatising highly profitable oil public sector units HPCL and BPCL.\n\n\n\n
Bowing to pressure from the opposition, Divestment Minister Arun Shourie on Tuesday assured the Rajya Sabha that he would seek an opinion from Attorney General Soli Sorabjee on the legality of the sell-off of HPCL and BPCL.
In an apparent bid to resolve the row over divestment in public sector units including the one involving HPCL and BPCL, Prime Minister Atal Bihari Vajpayee held an informal meeting of senior Cabinet ministers.\n\n
Indian Oil Corporation is India's only Fortune 500 company.
Petronet LNG Ltd will sell India's first liquefied natural gas from January next at around $3.6 per million BTU (British Thermal Unit), almost the same price as that of the private domestic natural gas producers.
Reliance Industries Ltd on Monday said last week's Supreme Court ruling halting the privatisation of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd was a "setback", but hoped that a solution will emerge soon.
Bharat Petroleum Corporation Ltd will import 1.4 million barrels (0.2 million tonnes) of Iraqi Basra Light crude oil during September-December.
Corporate revenues will decline for a third consecutive quarter in March on a YoY basis - one of the worst shows by these companies in many years.
M A Pathan, former chairman of the Indian Oil Corporation, on Friday resigned as chief of the Petroleum Federation of India, citing his pre-occupation with Tatas and other multinational oil firms.
S Rajendra Babu, a Supreme Court judge, was on Thursday appointed the Chief Justice of India with effect from May 2.
The official, who did not wish to be identified, said the government will wrap up the stake sale in HPCL by November.\n\n
Oil marketing companies on Friday cut petrol price by 32 paise, and diesel by 85 paise a litre with effect from midnight tonight.
Punjab Police beat Namdhari XI 3-2, while Bharat Petroleum edged out Air India 1-0 in the Nehru Hockey tournament.
The multinational oil firm, however, is required to furnish a Rs 500 crore bank guarantee to the government.
State exploration firm Oil and Natural Gas Corp on Thursday said it will take 26 per cent equity in Bharat Petroleum Corp Ltd's upcoming 6 million tonnes refinery at Bina in Madhya Pradesh.
Gagan Ajit Singh scored three minutes before the final whistle in a Super League match of the Nehru hockey tournament.
State-run Bharat Petroleum Corporation Ltd on Monday said it is losing Rs 3 per litre on sale of diesel and Rs 2 per litre on petrol
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
India's fuel consumption slumped by over 66 per cent in the first week of April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said.
