This is the fourth increase in auto fuel prices since May 1
The Oil Industry Safety Directorate, under the Petroleum Ministry, carries out safety audits of oil and gas installations, besides formulating and standardising procedures and guidelines for design, operation and maintenance.
While OVL on April 16 signed a Joint Operating Agreement and Participation Share Agreement/Assignment Agreement with Kazakhstan's KazMunaiGas Exploration Production to buy a quarter of the Satpayev block, it on Wednesday signed a pactwith the Kazakh government to formally become a part of the concession.
India on Wednesday announced auction of 46 small discovered oil and gas fields, holding about Rs 70,000 crore worth of hydrocarbon reserves.
In Mumbai, jet fuel costs Rs 71,940.36 per kl as against Rs 73,306.89 per kl previously, IOC said.
Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,025.34 per kilolitre, or 4 per cent, to Rs 71,800.21 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
Pradhan said a team of officials of state-run Indian Oil Corporation had visited Vietnam and explored some business ventures
ATF or jet fuel price has been cut marginally while rate of non-subsidised cooking gas LPG has been hiked by Rs 27.50 a cylinder.
The finance ministry has asked state-run oil companies to shell out an interim dividend of Rs 2,600 crore (Rs 26 billion) for the year to March 2003, a government official
The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
US crude was down 25 cents at $52.08.
'There is a view that there is a Pakistan angle to this.' 'Pakistan has a large presence in Qatar and would want India to be blacklisted.'
The market breadth in BSE remains healthy with 1,829 shares advancing and 721 shares declining
Among the Sensex firms, Tech Mahindra, Tata Motors, Bharti Airtel, Wipro, Bajaj Finserv, HCL Technologies, Bajaj Finance, Larsen & Toubro, Mahindra & Mahindra and UltraTech Cement were the biggest laggards. IndusInd Bank, Power Grid, HDFC Bank, ICICI Bank, NTPC, Reliance Industries, HDFC and Tata Steel were the prominent winners.
Petrol gets expensive but diesel is cheaper by Rs 1.35/ per litre.
Forex dealers said besides increased dollar selling by exporters, strength in other currencies against the American currency overseas also supported the rupee but a lower opening of the domestic equity market capped the gains.
Oil companies on Wednesday slashed petrol and diesel prices by Rs 2, with effect from midnight tonight.
Insurance companies are anticipating claims of at least Rs 500 crore from the incessant rains and flooding in Chennai.
This is the third reduction in rates this month
The rupee was also pressured as the euro fell for a second day on Friday, hurt by the European Central Bank's surprise interest rate cut and a downgrade to France's credit rating, while the dollar inched up before a key US jobs report.
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India, which is 79 per cent dependent on imports to meet its crude oil needs, is building underground storage at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka.
ONGC is raising debt for a spate of acquisitions over the past year
The low global crude prices have helped narrow the current account deficit to just 0.2 per cent of GDP in the previous January-March quarter.
Financials were the top losers while oil shares also declined amid weak crude oil prices.
The US Federal Reserve's interest rate decision, quarterly earnings of corporates and domestic macroeconomic data will influence trading in the equity market in a holiday-shortened week ahead, analysts said. Foreign funds' trading activity, monthly automobile sales data and global trends would also guide market movement this week, they added. Markets would remain closed on Monday on account of 'Maharashtra Day'.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
Indian Army personnel on Wednesday conducted yoga sessions at more than 100 locations along the country's land and maritime borders, forming a 'Bharatmala' on the occasion of the International Day of Yoga.
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
Traders have all but given up attempting to predict where the new-year rout will end
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
OVL had bid for two of the 10 shallow-water blocks that Myanmar had auctioned in December but drew a blank when the fields were awarded on March 26.
Petrol currently costs Rs 72.51 per litre in Delhi.
While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
Jet fuel or ATF prices were on Thursday were cut by a steep 4.5 per cent, the first reduction in rates in six months.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
It is time the political leaderships in this country arrived at a common ground over issues of foreign and security policy concerns. There has to be a greater communication between the government and the Opposition leaderships for the nation to present a unified face against the rest of the world, advises N Sathiya Moorthy.
With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
Rajapaksa said China indicated that it would help Sri Lanka, while adding that "usually they don't like" lending out more money to cover earlier debt payments.
