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.
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.
Under the defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries and counter terrorism.
India is set to reduce its direct imports of Russian crude from late November, following new US sanctions on Rosneft and Lukoil, effective November 21.
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.
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.
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.
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
"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.
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
The Supreme Court on Monday issued notices to Hindustan Petroleum Corporation Limited and the Union government, taking note of a news item that said the diesel sold in the national capital region was being adulterated.
The government has put a spanner in the plans of oil companies like Reliance Industries Limited and Hindustan Petroleum Corporation Limited to make ethanol directly from sugarcane, without producing sugar.
Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. "IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD," Morgan Stanley said.
The long-delayed Bhatinda refinery project of Hindustan Petroleum Corporation Limited crossed another significant milestone on Wednesday, with the award of the project management consultancy contract to Engineers India Ltd.
HPCL's Vizag refinery in Andhra Pradesh was to receive the consignment of 65,000-70,000 tonne on November 17, but the ship carrying the oil could not offload it due to bad weather. The MA-1 oilfield started production in September. The company sold the first consignment to HPCL at a $5.34 a barrel discount to Nigerian crude grade Bonny Light.
Hindustan Petroleum Corporation Limited, India's second largest public sector oil company has signed up fast bowler Zaheer Khan to endorse its lube brands.\n\n
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.
The demand for diesel is rising at 25 per cent annually, while the crude oil refiners are capable of catering to only 12-15 per cent growth.
Inspector M S Sisodiya is accused of taking bribe.
Dividends paid by central public-sector enterprises (CPSEs) in 2024-25 are set to be the highest ever, with the government receiving 69,873 crore so far. A government official said he was hopeful the receipts would touch 70,000 crore in the last week of the financial year.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances