The National Socialist Council of Nagaland-Khaplang, a guerilla outfit headed by its self-styled chairman S S Khaplang, has dictated the Indian and foreign oil companies engaged in oil extraction and fresh exploration work on the soil of Nagaland, "to stop all activities forthwith or face the consequences."
The wholesale price index-based inflation remained in the negative territory for the sixth straight month in September at (-)0.26 per cent, on easing prices of food articles. The WPI-based inflation rate has been in the negative since April and was (-)0.52 per cent in August. In September last year, it was 10.55 per cent.
India is currently the world's fourth-largest oil consumer after the United States, China and Japan
Fertiliser production dropped sharply by 11.5 per cent, crude oil by 5 per cent and natural gas by 0.9 per cent in October over the year-ago month
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
At 5% customs duty, the govt will earn more than $3 bn
Indian Oil Corporation has approached the petroleum ministry with a proposal to raise oil prices by Rs 5.29 a litre and diesel by 4.54 a litre in line with the price band formula worked out by the government.\n\n
China Thursday offered to play a 'constructive role' to ease tension between Pakistan and Iran following their missile strikes against each other over the last two days and asked the two countries to 'exercise restraint and calmness and avoid escalation'.
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.
Move could fetch the exchequer Rs 14,000 cr
The government is likely to come out with 10 per cent stake sale offer of Oil India in the second fortnight of this month, followed by NTPC's issue in the first 14 days of February, a Finance Ministry official said.
Prime Minister Narendra Modi on Friday received Bhutan's highest civilian award, the 'Order of the Druk Gyalpo', making him the first foreign Head of the Government to receive the honour.
It not only wants the ministry of petroleum and natural gas to rework the under-recovery figure for the current year but has also decided to look at the issue of oil subsidies only in February 2010, when the next Budget will be announced.
A newspaper vendor from Neknoor in Maharashtra tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
A realistic approach towards tax and stock taking is necessary, rather than the old narrative of bringing all petroleum products under GST and playing the blame-the-state game.
The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent. The production of refinery products, steel, cement and electricity also grew in August, the data showed.
India is the world's fourth-largest importer of natural gas, accounting for six per cent of the global market.
Officers of public sector oil companies have threatened to go on an indefinite strike from August 21 if their demand for higher salaries was not met.
The petroleum ministry has projected a strong year for the oil marketing companies though the largest exploration company, Oil and Natural Gas Corporation, is projected to post a moderate gain in its bottomline.
Reliance Industries and Essar Oil are keen on buying crude oil from Cairn India's Rajasthan fields even as the petroleum ministry struggles to find takers of the nation's most prolific oil discovery among public sector firms.
It cannot, however, use the money to invest in India or buy shares or companies.
A senior government official says the idea is to facilitate mutually beneficial ways to keep the supply going.
India is 80 per cent import dependent to meet its oil needs.
India on Thursday said it is closely watching the unfolding situation in the Red Sea, amid growing global concerns over Houthi militants stepping up attacks on several commercial ships in the region.
RIL wants to drill an exploration well on the D1&D3 gas fields in the KG-D6 block, Cairn on the Rajasthan block.
The government is mulling divesting a minority holding in oil exploration firm Oil India Ltd but no decision has been taken on the mode of sale, Petroleum Minister Mani Shankar Aiyar said on Wednesday.
After steep correction in valuations, these have turned attractive but upside will depend on diesel price rises and export-parity pricing.
The wholesale price-based inflation rate declined to (-) 4.12 per cent in June on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation in May was (-) 3.48 per cent. In June last year, it was 16.23 per cent.
Petrol and diesel prices were on Tuesday hiked by 80 paise a litre while domestic cooking gas prices were increased by Rs 50 per cylinder, ending an over four-and-half month election-related hiatus in rate revision, sources said. Petrol in Delhi will now cost Rs 96.21 per litre as against Rs 95.41 previously while diesel has gone up from Rs 86.67 per litre to Rs 87.47. Simultaneously, the price of a non-subsidised LPG cylinder has been increased to Rs 949.50 for each 14.2-kg bottle in the national capital.
The Cabinet Committee on Economic Affairs on Wednesday approved seven multi-tracking projects of Indian Railways at an estimated cost of around Rs 32,500 crore, Union minister Ashwini Vaishnaw said. The proposed projects, which will be fully funded by the Centre, will help increase the existing line capacity, smoothen train operations, reduce congestion and facilitate ease of travelling and transportation. The projects covering 35 districts in nine states -- Uttar Pradesh, Bihar, Telangana, Andhra Pradesh, Maharashtra, Gujarat, Odisha, Jharkhand and West Bengal -- will increase the existing network of Indian Railways by 2,339 km and provide employment of an estimated 7.06 crore man-days to the people of the states.
In order to facilitate purchase of crude oil from Iran, the Finance Ministry has issued a notification exempting payments made in Indian rupee for such imports from any local tax.
Oil ministry had previously proposed a 30 per cent hike in price of gas produced by Oil and Natural Gas Corporation and Oil India Ltd to $2.3 per mmBtu but finance ministry wants these rates to be brought on par with RIL, sources in the know of the development said.
State-owned Oil and Natural Gas Corp (ONGC) has written to the Oil Ministry seeking appointment of an international expert to assess if Reliance Industries Ltd was drawing out any of its gas in KG basin.
Production of eight infrastructure sectors recorded an almost flat growth rate of 6 per cent in February as against 5.9 per cent in the same month last year, according to official data released on Friday. The growth in February is lowest in the last three months. The output of core sectors had increased by 8.9 per cent in January 2023 and 7 per cent in December 2022.
