Microsoft Corp has restored all services -- including email access -- to Russian oil giant Rosneft-backed Nayara Energy, just before a scheduled hearing in the Delhi high court over the service suspension.
The bench also rejected the submission of senior advocate Mukul Rohatgi, appearing for Essar Oil Ltd, that the hearing be adjourned for four weeks.
Essar Oil Ltd plans to sell its energy division to Bin Jabr Group Ltd, an Abu Dhabi-based oil and gas service provider.
PSUs to wait and watch, IndianOil says losing Rs 1.37 on every litre of petrol.
Essar Oil has decided to cut petrol and diesel prices in the range 50 paise to Rs 2.50 per litre effective from July 16.
Expecting oil prices to remain under pressure, Fitch Ratings said deregulation of diesel prices in October will help in lowering the under-recoveries (which is nothing but international petroleum prices minus the subsidised retail rates).
Essar Oil Ltd, India's second largest fuel retailer, has reopened about 350 petrol pumps it was forced to shut down due to heavy losses on matching petrol and diesel prices with hugely-subsidised public sector rates.
The government has asked Essar Oil to provide within 45 days documentary evidence of deletion of all charges on Ratna R-Series oil fields that were created for raising funds for its Vadinar refinery project.
They were shut when PSUs were selling heavily subsidised fuel; will reopen now, buoyed by diesel decontrol
Iran has offered discounts on crude oil price and free shipping if India agrees to buy more of its oil.
'There exists a 'brotherhood' of sorts for a very long time and corrupt dealers and corrupt OMC officials are in it together,' Ashwani Attrish, founder, Empowering Petroleum Dealers Foundation, tells Sudhir Bisht, a veteran of the petroleum industry.
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