The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
Ratnagiri Gas and Power Pvt Ltd, the NTPC-GAIL joint venture that runs the Dabhol power plant, may have to shut down the project by end of this month due to fuel scarcity.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
Gas Authority of India, PowerGrid and RailTel on Friday joined hands to pool in telecom infrastructure to become India's second largest broadband service provider with plans to venture into STD and ISD services in future.\n\n
The government is mulling hiving off ONGC Videsh Ltd, India's flagship firm for overseas oil asset acquisition, from Oil and Natural Gas Corp into a separate entity to be owned jointly by public sector oil firms.
State governments in Punjab, Gujarat, Maharashtra and Jammu & Kashmir are on high alert and have come up with contingency plans to ensure the security of residents in case of a war.
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
With this, the total penalty on RIL for missing the target in four fiscal years beginning April 1, 2010 now stands at a cumulative $2.376 billion, the Minister informed the Lok Sabha on Tuesday.
The markets opened in red on the back of weak global cues
The petroleum ministry is likely to advocate allowing its public sector units like ONGC to bid for acquiring management control in oil refiner HPCL, which the government on Monday said would be put on the block.\n\n
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like Oil and Natural Gas Corporation.
Power Trading Corporation's initial public offering of 5.85 crore (58.5 million) shares was oversubscribed by about two times on day one, sources associated with the process said in New Delhi.
Moving from pricing control to a free market means stiff competition.
In four years, the state has had to battle cyclones, two floods, and two epidemiological disasters. If people bring Pinarayi Vijayan back to power, he must have done something right, obsevers Aditi Phadnis.
Delhi, reeling under high temperatures and an acute electricity shortage, will get additional gas supplies from the National Thermal Power Corporation and Dabhol to increase power generation and help meet demand in the national capital.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Side indices raced ahead with BSE Midcap and BSE Smallcap advancing 0.4% and 0.3% up, respectively.
IOC is building a 5 million tonnes per annum LNG terminal at Ennore near Chennai which is to be completed by 2017.
ONGC and RIL bill their consumers like fertiliser plants and power stations in US dollar.
But earnings of main private holding firm get a booster dose from RIL dividend
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Sensex ended higher by 245 points at 27,372 mark and the Nifty gained 66 points at 8,225.
The government shouldn't hide behind the veil of making a domestic giant out of the HPC-ONGC deal, rather it should just say it needs cash from this divestment exercise, says Sudhir Bisht.
The 30-share Sensex ended up 165 points at 29,044 and the 50-share Nifty gained 54 points to close at 8,834.
Gas prices have fallen to $10 per million British thermal unit. But the fate of the power project, run by Ratnagiri Gas and Power Pvt Ltd, will hang in balance till the committee takes a decision on gas pooling, reduction in certain taxes and providing per unit subsidy.
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