Indeed, this is one policy area where the Modi-led government is different from the one that was headed by Atal Bihari Vajpayee.
Richest Indian Mukesh Ambani-led RIL was the top private sector company from the country as it jumped from 203rd rank last year to 148th.
Government considering proposal to allow conversion of used cooking oil into biodiesel, say Shine Jacob and Shreya Jai.
In Tripura, the challenge for the chief minister is less from the alliance partners and more from his own party, the BJP.
Pakistan's demand for gas stands at 8 billion cubic feet while the current production is 4 billion cubic feet.
Petroleum Minister Dharmendra Pradhan on Tuesday put state-owned ONGC and OIL on notice saying oil and gas reserves they hold need to be monetised through joint ventures with domain experts or the government will take them away and auction them. Speaking at BNEF Summit, he said state-owned firms cannot indefinitely sit on resources when the nation is a net importer of oil and gas. Despite India bidding out acreages to private and other companies since the 1990s, Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) hold a "sizeable number of acreage for years," he said.
In all, 61 companies have been pre-qualified to bid for 11 shallow water and 19 deepwater blocks in an international tender, according to Myanmar's Energy Ministry.
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
'This is what happens to a party when it gets trapped in the vicious circle of nepotism and dynastic politics'
The pricing and marketing freedom for exploitation would be capped by a ceiling price.
"Those who ruled for decades since Independence believed Dispur was too distant from Delhi. 'Dilli ab door nahi aapke darwaaze par hai' (Delhi is not far now, it stands at your doorstep," he told a massive gathering.
Petrol and diesel prices are likely to be hiked this week as oil companies prepare to pare losses accumulated from keeping rates steady for over four months in the run-up to assembly elections in five states, including UP, despite international oil prices jumping to a 13-year high of $140 per barrel. West Texas Intermediate crude futures, the US oil benchmark, rose to $130.50 per barrel on Sunday evening, its highest since July 2008, before retreating. The international benchmark, Brent crude, hit a high of $139.13 at one point overnight, also its highest since July 2008.
For India's upstream sector that has seen no new discovery coming into production.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
US private equity firm I Squared Capital is dropping out of the race to buy India's second-largest state oil firm, Bharat Petroleum Corporation Ltd (BPCL) owing to a complex deal structure and lack of financial backers for the transaction, sources said. I Squared Capital through its Indian arm, Think Gas was among the three suitors that had evinced interest in buying the government's near 53 per cent shareholding in BPCL. "The company has made a decision not to participate in the financial bidding," a source with direct knowledge of the development said.
The Andhra Pradesh government on Friday ordered an inquiry into the Gas Authority of India Limited pipeline blast at Nagaram village in East Godavari district, in which 14 persons were killed.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
Wielding a broom, the prime minister took part in the drive along with fitness influencer Ankit Baiyanpuriya.
The government will seek Parliament's approval for Rs 37,000-crore additional spending on infrastructure development in the second batch of supplementary demands for grant. Earlier this month, Finance Minister Nirmala Sitharaman had announced additional budget of Rs 25,000 crore as capital expenditure (capex) on roads, defence, water supply, urban development and domestically produced capital equipment. Besides, the central government approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.
Health Minister Mansukh Mandaviya, Civil Aviation Minister Jyotiraditya Scindia, Railway Minister Ashwini Vaishnaw and other ministers took charge of their respective offices on Thursday, a day after taking oath at a ceremony held in the Darbar Hall of the Rashtrapati Bhavan.
The Appointments Committee of the Cabinet approved appointment of Sarraf, who at present is Managing Director of ONGC's overseas arm, ONGC Videsh Ltd.
The government on Friday slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally. A Rs 6 per litre tax on export of petrol and ATF and Rs 13 per litre tax on export of diesel is effective from July 1, finance ministry notifications showed. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
India has rejected a request from BP Plc to be allowed to sell jet fuel to the booming aviation market.
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Companies such as Indian Oil Corporation, Tata Steel Ltd and Tata Power Company Ltd will remain highly leveraged over the next 12 months because of weak industry dynamics and resulting constraints on cash flows, it said.
The merged entity will become the third biggest refiner behind IOC and Reliance Industries.
'Individual beneficiary desirous of availing the benefits under the scheme (PMUY) is hereby required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication,' said a gazette notification issued by the ministry of petroleum and natural gas.
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
Stating that many people have not yet got the card and were being harassed by government agencies, Mamata Banerjee said that the Centre should make a single identity card which would be common for all purposes.
The Government of India has decided to launch a massive rural public works scheme, 'Garib Kalyan Rojgar Abhiyaan', to "empower and provide livelihood opportunities to the returnee migrant workers and rural citizens". Prime Minister Narendra Modi will launch this scheme on June 20 through video conference in the presence of Bihar Chief Minister Nitish Kumar and Deputy Chief Minister Sushil Kumar Modi.
India is currently the world's fourth-largest oil consumer after the United States, China and Japan
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Modi called for timely evacuation of those involved in off-shore activities.
Prime Minister Narendra Modi took stock of the situation, and assured all possible assistance to Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy. The prime minister also chaired a meeting of the National Disaster Management Authority (NDMA) to assess the situation.
If international crude oil prices zoom past the current level of about $90 per barrel and move towards $100 and beyond, middle-class consumers are not going to keep quiet about their discomfort, points out Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
State-owned fuel retailers, who control 95 per cent of the petrol pump sales, sell diesel at government-fixed rates, which are way lower than the cost of production.
'If we do this, we will see that the true history of India will be established and the lies will end spontaneously'
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Congress stalwart Murli Deora passed away on Monday morning after battling a prolonged illness. He was a politician who shared rapport across the political and corporate spectrum.
CAG had in its previous reports slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over KG-D6 block.
