The government said on Wednesday that it was considering public sector oil companies' request for hiking security deposit on LPG cylinders from Rs 650 to Rs 1000 but clarified that there was no freeze on issuance of new connections.
India may ink an agreement with Iran in June this year on the import of natural gas through a $4.5 billion pipeline transiting through Pakistan.
The government is considering giving public sector oil firms limited freedom in fixing petrol and diesel prices by setting a price band.
The government on Thursday ruled out any rollback in hike in prices of petrol and diesel, saying a number of steps had been taken to contain the burden of increase on consumers.\n\n
In a clear move to protect consumers from hardening global oil prices, the government will announce by June 15 a new pricing policy for petrol, diesel and LPG that may include lower duties and targeted subsidies.
Petrol and diesel prices are unlikely to be reduced in line with falling international prices as the government is working on a stable pricing regime.
The Union government on Thursday ruled out any hike in the price of petroleum products till June 15.
Oil and Natural Gas Corp is spending 93 per cent of its total capital expenditure of Rs 10,850 crore (Rs 108.50 billion) in the current fiscal on its core activities of oil and gas exploration and production, according to its chairman and managing di
The government will allow exploration firm Oil and Natural Gas Corporation and Gas Authority of India to market domestic LPG to increase penetration of cooking fuel to 75 per cent of the population.
Petroleum Minister Mani Shankar Aiyar on Tuesday hinted that the system of fortnightly revision of petrol and diesel prices is likely to be replaced with monthly or quarterly revisions.
India may dump Iran for Yemen and Qatar as a possible source of liquefied natural gas after the ministerial level talks failed to finalise a deal for New Delhi to buy five million tonnes of LNG.
Petrol and diesel prices will go by Rs 2.50 and Rs 2 per litre respectively.
India on Monday sought fuel from Qatar to restart the $2.9-billion Dabhol power project in Maharashtra.
Petrol may become cheaper by Re 0. 40 per litre from December 1, following a fall in international oil prices.
India is likely to discuss the fate of the proposed $4.16 billion Iran-India gas pipeline during talks with Pakistani Prime Minister Shaukat Aziz next week.
Petroleum Minister Mani Shankar Aiyar on Monday remained non-committal on rolling back the hike in petrol, diesel and cooking gas prices saying the demands for revisiting the decision could only be considered after the Prime Minister returns from The
The MPs took the Swarna Shatabdi Express to Amritsar and will cross the border at the Wagah check-post in the afternoon.
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.
Sonia Gandhi on Sunday hosted her first Iftar in three years, which saw the Congress president sharing a table with leaders of RJD and its new-found ally Janata Dal-United.
Asked if petrol and diesel prices would be raised on October 15, the next due date for auto fuel price revision, Aiyar said: "Only God knows and the prime minister know."
Going on the counteroffensive, the Congress will be giving privilege motions against Bharatiya Janata Party leader Subramanian Swamy and Defence Minister Manohar Parrikar in Rajya Sabha on Friday
'Comparing a men-only pilgrimage with past blots like sati or untouchability is propelled by politics, mischief and malevolence,' argues Sudhir Bisht.
The government has allowed ONGC Videsh, the foreign arm of state-owned Oil and Natural Gas Corp, to make investments of up to Rs 300 crore (Rs 3 billion) in oil and gas properties abroad without going to the Cabinet for approval.
The government is unlikely to hike prices of petrol and diesel at the next revision due on August 31 despite the surge in crude oil prices.
India on Wednesday threatened to pull out of the proposed $4.16 billion Iran-India pipeline project over price of natural gas saying Tehran has to price the fuel at rates affordable to industry in India.
Indian Oil Corporation, the country's largest fuel retailing firm, has demanded a hike in security deposit on cooking gas LPG cylinders to Rs 900 in view of the spurt in steel prices.
The government is yet to make up its mind on increasing auto fuel prices and more consultations are likely before a decision is taken on the issue in step with the surge in international crude oil prices.
The government on Tuesday put 20 oil and gas exploration blocks for bidding under the fifth round of New Exploration Licensing Policy.
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