Indian refiners will buy less oil from Saudi Arabia next month as they snap up supplies outside of the Middle East as part of diversification drive amid weakening domestic fuel demand on the resurgence of COVID-19. State-owned Indian Oil Corporation (IOC) and three other refiners have sought just 65 per cent of the monthly average of about 15 million barrels from Saudi Arabia in May, three sources with knowledge of the matter said. The move follows tensions between India and Saudi Arabia over the Kingdom's hawkish stance on boosting production to cool prices.
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.
The BJP hopes to highlight the "insulting" Congress meme on social media that had described the PM as a 'chaiwala', reports Archis Mohan.
Small Factories Act, Industrial Relations Code likely to be redrafted under pressure from Bharatiya Mazdoor Sangh
These 7 blocks are adding exploration acreage of 18,510 square kilometres spread over three sedimentary basins of India and have a resource potential of approximately 33 billion barrels of oil and oil equivalent gas.
India on Wednesday announced auction of 46 small discovered oil and gas fields, holding about Rs 70,000 crore worth of hydrocarbon reserves.
The train collided with a goods train amid dense fog. A high-level probe has been ordered into the incident. Passengers with major injuries have been sent to Cuttack Medical College Hospital. All passengers are stated to be out of danger.
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.
The youth have to turn into entrepreneurs if India's massive demographic dividend is to be taken advantage of: Smriti Irani.
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
In Odisha and Kerala, the BJP is being accused of engineering splits in the BJD and the Congress
Among the panels announced on Thursday is the Appointments Committee of Cabinet (ACC) to be headed by the prime minister with Shah as the other member.
Made from Jatropha crop, the fuel has been developed by the CSIR-Indian Institute of Petroleum, Dehradun.
The second part of our series on Prime Minister Narendra Modi's ministers with a criminal record.
He said the farmers, who were known as 'warriors' when they fought the Mughals and the British, are now dubbed as anti-nationals when they are fighting for their rights on Delhi's borders.
Rajasthan Chief Minister Ashok Gehlot called Sachin Pilot a gaddar (traitor) on Thursday and said he cannot replace him as he had revolted against the Congress in 2020 and tried to topple his own government.
The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.
Fifteen Cabinet ministers and 28 Ministers of State were sworn-in by President Ram Nath Kovind at a ceremony at Rashtrapati Bhavan on Wednesday evening.
The Centre will soon write to the states to bring uniformity in the Value Added Tax on oil products so that benefits of price cuts filter down to the masses.
The kind of jobs that will last in future are creative, people-led and social. These are the jobs that automation can't take away.
Over 12,450 LPG users have so far voluntarily given up their subsidies, but this accounts for only 0.008 per cent of about 15 crore (150 million) domestic cooking gas consumers in the country.
PESO, an agency entrusted with the responsibility to ensure safety of public and property from petroleum products, said the vehicles used by the firm are not approved by it.
Taking its maiden step towards cleaning Yamuna, Delhi Jal Board on Monday launched the first phase of its 59-km interceptor sewer project which will ensure that only treated sewage is discharged into the 3 major drains which release water in the river.
The new system will entail a periodic revision in the price of subsidised LPG cylinders so that the subsidy remains fixed.
The OilMin is likely to announce the price for next six months soon.
Ending weeks of acrimony between the former saffron allies, the Bharatiya Janata Party and the Shiv Sena will on Friday resume talks on the issue of the latter joining the four-week-old government in Maharashtra.
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The government on Tuesday raised excise duty on petrol by Rs 2.25 per litre and by Re 1 a litre on diesel but retail pump rates will not be increased as oil firms decided to absorb the duty change for the time being.
Estimated to cost $44 billion, the project was expected to be commissioned by 2025.
Modi was stated to have been held up at the place for nearly 15 minutes because of Mohsin's "actions". The officer allegedly checked PM's chopper in violation of norms.
The BJP president said it should not have happened and must not be repeated.
BJP leader Suvendu Adhikari filed his nomination on Friday from the Nandigram seat against his mentor-turned-adversary Trinamool Congress chief Mamata Banerjee, and said he was '100 per cent' confident of his victory.
The BJP's faces for 2019 will be Dharmendra Pradhan, Piyush Goyal, Nirmala Sitharaman, Yogi Adityanath and Devendra Fadnavis, says R Rajagopalan.
The national carrier, which is already struggling with its fuel payments, spends Rs 6,000-7,000 crore annually on fuel. A 10 per cent hike in crude price would mean over Rs 50-58 crore of extra costs for the airline.
'Because of the callous attitude of the railway administration, they don't take care of safety.'
India and the US had on July 17 signed a preliminary agreement for cooperating on emergency crude oil reserves, including the possibility of India storing oil in the US emergency stockpile.
The vice chancellor praised the valour of the Indian soldiers in the Kargil War and expressed his profound gratitude to the Indian Army.
The mega solar power project is comprised of three solar generating units of 250 MW each located on a 500-hectare plot of land situated inside a solar park.
A few years ago, when top officials of Indian state-run refiners went to Dubai to negotiate a crude oil supply contract, a senior official from state-owned Saudi Aramco told them, "We can negotiate on anything, but I am the last man standing for you. "Nobody can offer the range of crudes we do with certainty," an official who was part of the negotiating team recalls. Perhaps that explains why Saudi Arabia is less concerned about losing its place as India's premier oil supplier to an upstart like Russia, which emerged from nowhere to become India's biggest crude oil supplier in September and October.
Congress, Samajwadi Party, Trinamool Congress, Bahujan Samaj Party and Left MPs stormed into the Well of the House, saying the people were being cheated.
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