Ministry to propose a new subsidy mechanism to cap upstream firms' share.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
The markets opened in red in line with weak Asian peers.
US energy major Enron Corp's original contractors for the $2.96-billion Dabhol power project will complete the unfinished LNG terminal to restart the stalled 2,184 MW plant by next year.
Leading multinational publishing company, Random House, on Friday announced the setting up of its Indian arm, Random House India.
Reliance Industries Ltd, India's largest private firm, is keen to take over the Dabhol power plant to fulfill its long planned ambition of having an LNG import facility on the west coast, a company official said.
Stock markets, instead of worrying about worldwide economic slowdown, should focus on mounting financial risks in Asia, an analysis by a leading business research organisation has said.
India's $22 billion deal to import liquefied natural gas from Iran hangs in balance with Tehran on Tuesday asserting that the agreement was not binding as it has not been ratified by its Supreme Economic Council.
Indian equity markets registered their highest single-day percentage gains since early October.
The Power Ministry on Monday said it is against hiving off the LNG terminal from the Dabhol power plant.
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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.
The government is expecting a 'huge' response to its largest ever auction of 55 oil and gas blocks for which bids close on Friday.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
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.
The benefit to the retail investor in the government's divestment programme is the fact that investors are allotted the shares at 5 per cent below the offer price finally arrived at through the book-building process.
Media giant Zee Group on Wednesday announced diversifying into the energy sector, beginning with a Rs 3,500 crore (Rs 35 billion) gas-based power plant in Haryana.
Electricity from Dabhol project in Maharasthra, which is being targeted to restart from July 2006, may cost over Rs 3 a unit as LNG suppliers quote twice the price of gas than the previous estimates.
The length of the main trunk pipeline is 1,385 km from Kakinada to Bharuch and 75 km is the length of the spur lines.
"Earlier, India was a land of snake charmers. Now, Americans perceive Indians to be very smart. The infotech revolution changed it all," says FICCI Secretary-General Amit Mitra.
Market breadth is positive with 942 advances and 196 declines.
ONGC-Reliance-BG will get additional revenue of $70 million from realising higher price for gas produced from Panna/Mukta and Tapti fields.
Andhra Pradesh Police said the lighting of a stove by a tea vendor might have sparked Friday's fire at the Gas Authority of India Limited pipeline in East Godavari district after leaked gas from the line enveloped the area.
