Reliance Industries has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10 per cent over and above the new rate of $8.3 coming into effect from next month.
India's trade account could come under pressure and there could be an inflation push if crude oil prices remain above the $90 per barrel (Brent) for a prolonged period since India imports over 85 per cent of its oil and roughly 50 per cent of its gas. A rebound in economic activity is bound to lead to higher fuel demand. While India is the third-largest importer of crude, it is a net exporter of refined products, which helps to compensate to some degree.
Reliance Communications Ltd's subsidiary Reliance Mobile World on Wednesday announced introduction of LPG gas booking service on mobile phones.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
The benchmark Indian crude oil basket is now estimated to average $77.88 a barrel for FY19, compared to the government's earlier estimate of $65 a barrel for the year and $56.39 for FY18
China has spent half a century plotting to defeat America and in some respects, the Chinese military is already at par with the US armed forces, Haley said in a major policy speech on the economy in the key early primary State of New Hampshire on Friday.
As per the 15-day billing cycle, gas producers are to raise the first invoice at the revised price of $5.61 per million British thermal unit this weekend.
Info Edge (India) reported good Q2FY24 results with hiring across other segments helping offset weak IT performance. The revenue increased 11.5 per cent year-on-year (Y-o-Y) to Rs 593 crore, (up 1.5 per cent quarter-on-quarter or Q-o-Q). The earnings before interest, taxes, depreciation, and amortization (Ebitda) margin was excellent at 40.7 per cent, up 200 basis points year-on-year (Y-o-Y).
The monthly electricity bills of the majority of domestic consumers in Delhi -- who use more than 200 units and up to 600 units -- will be hiked by up to Rs 265 due to an increase in the power purchase adjustment cost (PPAC) levied by discoms in the city, officials said on Monday.
India's cities must switch over to piped gas leaving LPG cylinders.
The government had in October 2007 set a sale price of $4.20 per million British thermal unit based on the price discovered by RIL from key customers.
Gas affected areas in Bhopal are still bereft of basic amenities.
Britain's Cairn Energy Plc has struck oil and gas in Rajasthan, the fourth discovery by the British firm, in the block which borders Gujarat.
"Our gross billing in October-December quarter was $ 89.13 per barrel, as compared to $ 76.66 a barrel in the corresponding quarter of the last fiscal," a company official said.
The Central Board of Direct Taxes has issued a notification expanding the list of documents admissible as proof of identity and address by including Aadhaar Card. Aadhaar is a 12-digit individual identification number issued by the Unique Identification Authority of India on behalf of the government of India.
With India joining the project, it would be called TAPI (Turkmenistan-Afghanistan-Pakistan-India) pipeline.
RIL has proposed to charge the government- fixed rate for natural gas on a gross calorific value (GCV) basis, instead of net calorific value (NCV).
A Bill to put in place a regulator for the oil sector will be placed before the Cabinet for approval this month and presented to Parliament during the winter session, Petroleum Minister Mani Shankar Aiyar said.
Though the developments are positive, analysts say the benefits will accrue only in the long run
The government is willing to increase its contribution to the subsidy bill on retail sale of oil products
Its workers are on their toes to win over the voters once again, with idea of 'Amrit Kaal'.
Confident of securing a massive majority in the upcoming Lok Sabha elections, Prime Minister Narendra Modi on Wednesday outlined his vision for his next five-year term saying the Modi 3.0 government will put all its might to strengthen the foundation of 'Viksit Bharat' or a developed nation.
India, which imports over 80 per cent of its oil needs, spent $87.7 billion on importing 220.43 million tonne (MT) of crude oil in 2017-18. For 2018-19, the imports are pegged at almost 227 MT.
The pricing of natural gas will be discussed by the group of ministers concerned on January 29, Union Petroleum Minister Ram Naik said on Wednesday. \n\n\n\n
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
Oil Minister M Veerappa Moily reviewed the progress on the ambitious 1,680-km project with Turkmenistan Minister for Oil and Gas Mukhammetnur Khalylov, who is in New Delhi to attend the eighth Asia Gas Partnership Summit.
All India Rank achieves a fine balance of authenticity and sensitivity in the fine portrayals of its young actors and old.
Several opposition MPs on Wednesday demanded an explanation from Home Minister Amit Shah after two visitors jumped into the Lok Sabha chamber from the visitors' gallery and opened canisters that emitted coloured smoke, triggering panic among the members.
Union ministries are in the midst of a row because of uncleared IAF bills, which were incurred when Pakistan's ex-minister Jadoon had used an IAF plane, during his visit to India.
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
The government is understood to be considering changes in the nuclear liability bill, including a proposal to drop a crucial clause that would compel a foreign nuclear supplier to provide for compensation in case of accidents due to wilful action or gross negligence.
US President Barack Obama indicated raising taxes on the rich and on energy firms to fund his USD 447 billion jobs stimulus bill, asking lawmakers to pass the law without "delays" and "politics", a proposal that immediately drew sharp reactions from the Republicans.
Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday unveiled the prototype of the world's first Bharat Stage (BS)-VI-compliant electrified flex-fuel car, developed by Toyota Kirloskar Motor. The car, which runs on 100 per cent ethanol (E100), is based on the Toyota Innova HyCross. It can cover 40 per cent of its distance on ethanol and the remaining 60 per cent on electric, with the petrol engine shut off.
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
