The dollar devaluation has seen revenue loss incurred by state-run oil firms on fuel sales trimming to about Rs 96 crore per day.
In the midst of a war of words between the two countries, Chinese Premier Wen Jiabao on Wednesday expressed his desire to meet his Indian counterpart Manmohan Singh.The Chinese leader's remarks come a day after Beijing raked up its claim over Arunachal Pradesh, questioning Prime Minister Singh's visit there on October 3. India hit back on Wednesday, reacting strongly to Chinese plans to get involved in projects in Pakistan-occupied-Kashmir.
The union government is planning to release about 5.5 crore new LPG connections over the next five years, petroleum and natural gas minister Murli Deora said.
Senior Bharatiya Janata Party leaders are not on talking terms with expelled leader Jaswant Singh after he refused to resign from the chairmanship of the Public Accounts Committee of the Parliament, Union minister Murli Deora claimed on Friday. The Petroleum and Natural Gas minister, who is heading a high-level delegation to London, said senior BJP leaders, including L K Advani, Sushma Swaraj and Murali Manohar Joshi, are not on talking terms with their former colleague.
Petroleum Minister Murli Deora on Monday launched the service, which will be initially available in the national capital and would be extended to other metropolitan cities, state capitals and towns.
The Petroleum Ministry has allocated additional natural gas from Reliance Industries' eastern offshore gas fields to three power plants to meet electricity deficit in northern states reeling under drought.
Had the government intervened at the right time, the controversy over an MoU that provides for dividing a national resource, would not have arisen, he said.
Lok Sabha MP Harsh Vardhan on July 23 wrote to Petroleum Minister Murli Deora asking why the government had kept quiet for all this while on the Ambani family MoU that provides for dividing Krishna-Godavari basin gas between companies run by brothers Mukesh and Anil.
Prime Minister Manmohan Singh has constituted a ministers' group to monitor the government's stand on the Ambani gas dispute in the Supreme Court.
Asserting that it had no role in the Ambani family dispute, the government on Monday declared in Parliament that it will do everything to protect its legal right to regulate usage of gas.
The sarod maestro launched his book, Master On Masters.
In a new twist in the gas row between the Ambani brothers in the Supreme Court, the Anil Ambani-led RNRL on Thursday sought cross-examination of Petroleum Minister Murli Deora, accusing the Government of siding with the Mukesh Ambani's group RIL.
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.
'We can deal with defeat but what is upsetting is that there seems to be no roadmap for the future.' 'What one can say when the high command itself is not appearing to be concerned.' Congress leaders complaining about the lack of vision and the path ahead can heave a sigh of relief after sources said that party president Sonia Gandhi has planned a special brainstorming session next month in order to galvanise the beleaguered party and help reposition it. Anita Katyal in New Delhi reports.
Five persons were killed and 150 others sustained burn injuries in a major fire that broke out after a petrol tanker exploded in Sitapura industrial area in Jaipur on Thursday evening, the police said. The fire spread fast and enveloped several factories located within a radius of three kms. Details about the extent of the damage caused by the fire is still awaited, said the police.
"They (prices of petroleum products) should be linked to world prices," Planning Commission Deputy Chairman Montek Singh Ahluwalia told PTI when asked about the global crude prices now surging to about $70 a barrel.
A prime minister-appointed expert group, headed by Kirit Parikh, suggested on Wednesday freeing petrol and diesel prices and suggested raising liquid petroleum gas rates by a steep Rs 100 per cylinder and kerosene by Rs 6 a litre.
Finance minister Pranab Mukherjee is believed to be in favour of giving state-run oil firms freedom to fix price of petrol and diesel in step with cost, as he feels the current moderate global oil rates may be the last window India has to deregulate fuel pricing.
Talks between the government and striking oil Public Sector Undertakings failed late Thursday night over the officers' insistence on getting an immediate hike in their wages as the agitation threatened a major disruption in supply of petrol across the country. Deora is likely to meet Prime Minister Manmohan Singh on Friday afternoon on the issue after the meeting of the Union cabinet in the morning.
The legendary Seshan was not keeping good health for the past couple of years and he passed away at about 9.30 pm, a senior police official told PTI.
With terrorists using the sea route to unleash the deadliest attack on India in 15 years, an alarm has been sounded on security of oil and gas installations, particularly offshore areas, with companies offering to bear part of the cost of enhanced surveillance and patrolling.
The gas row between the Ambani brothers had its echo in the Lok Sabha on Thursday with Samajwadi Party chief Mulayam Singh Yadav making a strong plea for gas from Reliance at cheaper rates for state-owned NTPC, a plea also being used by the Anil Ambani group.
Milind Deora was the Member of Parliament who represented Mumbai South, which was the theatre of the deadliest terror attack on Indian soil.
The board of ONGC has approved its 30 per cent share of the $2.431 billion revised field development cost proposed by Cairn India for the Block RJ-ON-90/1, petroleum minister Murli Deora informed the Rajya Sabha on Monday. ONGC will invest $729.43 million.
The government on Thursday rejected demands for a roll back in the hike in petrol and diesel prices, saying it would favourably consider the issue only when global crude prices come down.
Black clouds of smoke were billowing from the tanks, and could be seen at least from a distance of ten kms on the Jaipur-Tonk highway. District Collector Kuldeep Ranka told PTI that a charred body was clearly visible near the IOC tank premises, but it was not possible to reach and recover it.
Petroleum Minister Murli Deora and Minister of State for Petroleum Jitin Prasada took charge on Friday.
Concerned over the fuel shortages and petrol pumps running dry, the government said on Friday it would deploy central forces to ensure supply lines are not dried due to the ongoing strike by oil sector executives. "The government will deploy central forces wherever necessary," petroleum secretary R S Pandey told reporters even as petroleum minister Murli Deora met Prime Minister Manmohan Singh to brief him about the strike by officers of oil PSUs.
The strike by the oil company executives under the umbrella of the Oil Sector Officers Association has brought the country to a grinding halt with over 90 per cent of petrol pumps across the country running dry.
The Oil Sector Officers Association, which claims to represent executives at 14 state-run firms, is protesting against a pay increase smaller than it had demanded.
Chidambaram met petroleum secretary R S Pandey on Sunday morning to keep himself posted about the issues regarding the indefinite strike call given by oil PSU executives from January 7, sources said. Sources said Chidambaram told Pandey that the group may need three to four meetings to form its view and the first in the series has been scheduled for January 7 evening.
"I understand your pain," Singh, who rushed to the city from Delhi, said during his meeting with some of those injured in the terror attacks that have left 125 dead
Vijay Mallya-owned Kingfisher Airlines owes state-run oil companies over Rs 950 crore (Rs 9.50 billion0 in unpaid fuel bills while financial crisis-hit NACIL has cleared almost two-thirds of its outstanding.
Petroleum Minister Murli Deora and Chairman of Oil and Natural Gas Corporation R S Sharma are planning a visit to Russia in the first week of next month, hoping the Russian government would give its assent for the proposed acquisition of UK-listed Imperial Energy.
The alliance won 41 of the 48 seats leaving the Congress-NCP combine with just 5 seats.
The ministry, however, clarified that there was no change in the prices of kerosene and LPG.
For the second time in as many months, the Government on Wednesday night cut petrol price by Rs 5 a litre and diesel by Rs 2 per litre, while the domestic LPG rate was also slashed by as much as Rs 25 per cylinder.
Petroleum minister Murli Deora discussed the idea of levy of $0.20 per million British thermal unit as cess on natural gas to mop up Rs 3,000 crore (Rs 30 billion) annually for laying down the gas pipeline network with CEOs of state-run firms. The brainstorming session called to chalk out the 100-day plan for the new government also decided on launching a new Scheme of Rural LPG Distributor (Gramin LPG Vitrak), petroleum secretary R S Pandey said.
The NSE Nifty ended at 4,449, up 112 points. The market breadth was positive - out of 2,852 stocks traded, 2,147 advanced while 649 declined.
After 47 years in electoral politics, Union minister Sharad Pawar on Monday became a member of the Rajya Sabha for the first time.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances