A record five Indian-American lawmakers from the ruling Democrat Party, including Raja Krishnamoorthi, Ro Khanna, Pramila Jayapal and Ami Bera have been elected to the US House of Representatives, while several others were elected in state legislatures, in one of the most polarised midterm elections in the country.
Girish Chandra Chaturvedi (57), a 1977 batch Indian Administrative officer from the UP cadre, took charge as the new petroleum secretary on May 3.
The petroleum and natural gas ministry has asked the Planning Commission to constitute a committee to suggest a mechanism to average out prices of imported and domestic gas--a move expected to make gas prices uniform for consumers.
The government-owned Oil and Natural Gas Corporation, Cairn India's partner in the Barmer block in Rajasthan, is closely scrutinising the stake sale in Cairn India by Cairn Energy.
However, disinvestment secretary Sumit Bose said right now there is nothing on the cards.
The EGoM was originally scheduled to meet on Wednesday but has been deferred because of non-availability of certain ministers in the grouping.
After months of dithering, UK's Cairn Energy on November 25 applied for government nod to transfer control in its three producing assets, including the prolific Rajasthan fields to Vedanta Resources.
The government had, on June 25, freed petrol price from its control resulting in a hike of Rs 3.50 per litre.
The $9.6-billion deal is contingent upon government nod as the deal involves change of ownership of strategic assets like the giant Rajasthan oilfields.
BP will pay $7.2 billion for 30 per cent stake in exploration blocks.
Reliance Industries is ostensibly seeking a 25 per cent increase in the price of natural gas it produces from the eastern offshore Krishna-Godavari Basin after it wrote to the Oil Ministry saying it has customers willing to pay more than the government-approved price.
The multilateral lending agency holds 3.9 crore (Rs 39 million) shares in Petronet LNG, which at today's trading price of Rs 114.85 is worth Rs 448 crore (Rs 4.48 billion).
The government is considering pricing Euro-IV compliant petrol and diesel that is to be sold in 13 big cities from April 1, at marginally higher price than currently supplied lower-grade fuel, Oil Secretary S Sundareshan said.
The government is not considering selling equity in Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC), Petroleum Secretary S Sundareshan said on Wednesday.
Cairn India on Friday said its UK-based parent Cairn Energy Plc is unlikely to exit completely from the company.
Liquor baron Vijay Mallya on Wednesday met Oil Secretary S Sundareshan to discuss defaults by his group firm Kingfisher Airlines on payment of jet fuel bills, but did not say when he will clear the outstanding of Rs 176 crore (Rs 1.76 bilion).
The government on Monday said it would not free diesel prices from its control in hurry as the move would lead to sharp rise in price of fuel most used in the transport sector.
Speaking at a roadshow organised to promote 34 oil and gas blocks offered in the 9th round of New Exploration Licensing Policy, he said potential of shale gas in India is being examined by oil regulator Directorate General of Hydrocarbons.
Apparently making amends to past slip-ups, UK's Cairn Energy on Thursday courted the government and ONGC to clear-up "misgivings" on sale of majority stake in its Indian arm to Vedanta Resources.
The government is planning to rationalise multiple prices of natural gas in the country to make fuel costs uniform for all consumers, Oil Secretary S Sundareshan said on Wednesday.
The government may soon raise prices of natural gas produced by state-owned ONGC and Oil India by as much as 30 per cent, Petroleum Secretary S Sundareshan said on Monday.
The government may in 'weeks' decide on raising price of natural gas produced by state-owned ONGC and Oil India by 30 per cent, petroleum secretary S Sundareshan said on Monday.
The government on Friday decontrolled petroleum prices to bring fuel costs in line with global oil rates after an Empowered Group of Ministers, headed by Finance Minister Pranab Mukherjee, met for the second time in less than three weeks to decide on raising fuel prices. Railway Minister Mamata Banerjee was absent again.
Faced with the prospect of revenue loss on fuel jumping to Rs 700 billion (Rs 70,000 crore) next fiscal, Petroleum Ministry on Wednesday called for "harsh decisions" even as it hinted that cleaner Euro-IV fuel in 13 metro cities will cost more from April 1.
FMC chairman S Sundareshan, while delivering a lecture on 'Commodity Future in India,' strongly advocated the participation of the crucial financial sector in commodities.
After nearly two years, the state-owned oil companies have started making profits on petrol sales, but not diesel or cooking fuel, with the Indian basket of crude oil falling below $60 a barrel on Friday, the last date for which data is available.
India's apex commodities market regulator the Forward Market Commission (FMC) says there is no plan now to ban futures trading in any other commodity.
The ICICI board is looking to the retired petroleum secretary to provide 'maturity and sagacity'.
Hindi lyrics are no bar to the global appeal of his music.
The industry expects Iran to purchase at least 1 million tonnes this financial year
Describing DBT for LPG as a 'tremendous success,' Oil Minister M Veerappa Moily said the programme, when implemented throughout the country, would help save Rs 8,000-9,000 crore (Rs 80-90 billion) of subsidy from going to unintended beneficiaries.
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