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The rated oil and gas companies, Fitch said, have a significant proportion of foreign currency-denominated debt.
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
Fitch Ratings has warned that India's oil marketing companies (OMCs) could face significant credit pressure if crude oil prices remain elevated, leading to eroded earnings and increased working capital needs due to delayed fuel price pass-through.
The Haryana government is taking strict action against black marketing of cooking gas cylinders, registering FIRs and seizing hundreds of cylinders to ensure adequate supply for citizens.
Private-sector oil refiner Reliance Industries Limited (RIL) last week received a general licence from the United States (US) government to buy Venezuelan oil, an industry executive said.
The Haryana government is taking strict action against individuals involved in the black marketing of cooking gas cylinders, resulting in multiple FIRs and the seizure of hundreds of cylinders.
'If crude remains above $100 per barrel, with restricted retail-price increases, OMCs could face negative petrol and diesel marketing margins, higher LPG under-recoveries, higher crude-landing, freight and insurance costs, working capital and debt accumulation and inventory losses if crude subsequently corrects sharply.'
The Haryana government is taking strict measures to combat the black marketing of cooking gas cylinders, registering FIRs and seizing hundreds of cylinders. Officials assure citizens of sufficient LPG supply despite global concerns.
The launch also marks the debut of HPCL's newly launched HP Navya, its next-generation 10 kg composite LPG cylinder, on Instamart.
Seven customers of Bharat Petroleum Corporation Limited (BPCL) in Indore have been booked for allegedly misappropriating over Rs 5.7 crore that was wrongly deposited into their digital wallets. Police are investigating how Rs 129.55 crore was incorrectly credited to around 1,000 BPCL 'Smart Fleet' customers.
Aviation fuel prices for domestic airlines remain unchanged, providing stability for local carriers, while commercial LPG and 5-kg cylinders see a significant rate hike due to rising international energy costs.
India has called for a ceasefire, release of all hostages, and peaceful resolution of the Israel-Hamas conflict through dialogue and diplomacy. The Centre informed Parliament that India welcomed the agreement on the first phase of the Gaza Peace Plan. The article also covers India's energy sourcing strategy and the release of Indian fishermen by Pakistan.
The 12-digit unique number that the UIDAI will generate will be combined with the the smart card project of the Oil Ministry for distribution of PDS kerosene and domestic LPG through biometric identification of beneficiaries.
The Supreme Court on Monday adjourned hearing till Friday on a petition challenging the decision of the government to divest its stake in oil PSUs HPCL and BPCL.
"There is an alert to intensify security in and around the Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited refineries following specific information about a possible terror attack," a police officer involved in the exercise told PTI on condition of anonymity.
Three fuel retailers -- Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited -- lost about Rs 26,618 crore (Rs 266.18 billion) in revenues on selling petrol, diesel, domestic LPG and kerosene below cost during the first half of the current fiscal, a ministry official said.
The bonds, which will come over and above Rs 61,800 crore (Rs 618 billion) already issued to the three companies, would help them bridge the revenue loss they incurred on sale of petrol, diesel, liquid petroleum gas and kerosene in 2008-09, a petroleum ministry official said.
Petrol prices were freed from government control last month, resulting in a Rs 3.50 per litre rate hike in Delhi.
SBI Capital Markets Limited, the merchant banking arm of SBI, is eyeing the twin accounts of HPCL and BPCL for managing the divestment programmes of the 2 oil cos.
Indian Oil Corporation (IOC), the nation's largest oil firm, on Friday said ample stocks of petrol, diesel and cooking gas LPG are available in the country and there is no need for panic buying of fuel. The statement comes after social media was flooded with posts and videos showing people queuing at petrol pumps to stock fuel as tensions between India and Pakistan escalated.
No divestment of oil PSUs during during the month-long recess of the current Budget session of Parliament beginning March 14, Parliamentary Affairs Minister Sushma Swaraj categorically assured Lok Sabha on Thursday.\n\n
Along with the opposition, key BJP allies Shiv Sena and Samata Party also slammed Divestment Minister Arun Shourie for going ahead with the strategic sale of the equity of the two public sector oil giants.
Along with the opposition, key BJP allies Shiv Sena and Samata Party also slammed Divestment Minister Arun Shourie for going ahead with the strategic sale of the equity of the two public sector oil giants.
The Delhi High Court on Thursday dismissed a petition challenging the government's decision to divest equity in the oil public sector units HPCL and BPCL as the findings of the Supreme Court relating to privatisation of Balco came in its way.
India's minister for privatisation on Friday said a much-awaited stake sale in state-run refiners Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited could go ahead as soon as the prime minister gave his approval.
Divesment Minister Arun Shourie said on Tuesday he had apprised Prime Minister Atal Bihari Vajpayee about the Attorney General Soli Sorabjee's opinion on privatisation of HPCL, BPCL.
The attorney-general is understood to have said that the government need not go to Parliament prior to privatisation of the oil PSUs.
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.
Petroleum Minister Ram Naik said the terms and conditions of the strategic sale of HPCL and and public offer in BPCL would be worked out by a core group of secretaries on divestment.
HPCL, BPCL shares may yield Rs 1000 cr bonanza for employees
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
Three petroleum teams -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Oil and Natural Gas Corporation (ONGC) -- all boasting experienced Indian stars in their ranks, start as favourites in the Development Credit Bank Aga Khan hockey tournament, which commences at the Bombay Gymkhana on Sunday, May 15. The final is on May 21.
Bharat PetroResources, a wholly owned subsidiary of BPCL and Videocon Industries, holds 40 per cent of the block. Brazil's Petrobras holds the remaining 60 per cent.
Bharat Petroleum Corporation Limited (BPCL), Bangalore scored a surprise 4-1 win against Oil & Natural Gas Corporation (ONGC), Delhi in the final of the DCB Presents Aga Khan hockey tournament -- 2011, at the Bombay Gymkhana ground, on Saturday evening.
Bond issue oversubscribed 15 times despite gloomy sovereign rating.
Many residents complained of suspected gas leak from Chembur, Ghatkopar, Powai and Vikhroli areas late on Saturday night, an official of the BMC's disaster management cell said.
