Jeffrey R Immelt, global chairman of General Electric Company was in New Delhi on Thursday as part of his three-day visit to India
Despite the increase, at Rs 64.32 per litre ATF costs less than petrol and diesel.
Billionaire Gautam Adani on Monday said his infrastructure conglomerate will invest between $50-70 billion in organic and inorganic growth opportunities across the entire energy value chain over the next decade. Speaking at an industry event, he said the port-to-energy group will invest over $20 billion in renewable energy generation alone. "Over the next decade, we will invest over $20 billion in renewable energy generation.
The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
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In New Delhi's corridors of power, debate continues on whether the navy even needs a third aircraft carrier.
Jet fuel prices on Wednesday were hiked by over 18 per cent -- the steepest ever increase -- to all-time high levels after international oil price surged to a multi-year high.
Petrofed, a body representing both public and private sector companies like Indian Oil Corp and Reliance Industries, has written to the government seeking inclusion of crude oil, petrol, diesel, aviation turbine fuel and natural gas in the goods and services tax that is likely to come into effect from next year.
The price of non-subsidised LPG, which customers buy after using up their quota of 12 subsidised cylinders, was raised by Rs 16.50 per 14.2-kg cylinder, the first hike in six months.
The GST Council might on Friday consider taxing petrol, diesel and other petroleum products under the single national GST regime, a move that may require huge compromises by both central and state governments on the revenues they collect from taxing these products. The Council, which comprises central and state finance ministers, in its meeting scheduled in Lucknow on Friday, is also likely to consider extending the time for duty relief on COVID-19 essentials, according to sources in the know of the development. GST is being thought to be a solution for the problem of near-record high petrol and diesel rates in the country, as it would end the cascading effect of tax on tax (state VAT being levied not just on the cost of production but also on the excise duty charged by the Centre on such output).
In addition to the attack helicopters, the contract also includes fire control radars; Hellfire Longbow missiles; stinger Block I-92H missiles; night vision sensors and inertial navigation systems.
International oil and gas giant Royal Dutch Shell is all set to foray into distribution of Aviation Turbine Fuel, fuel for airplanes.
Naval warship INS Kochi, the stealth guided missile destroyers, has been commissioned by Defence Minister Manohar Parrikar at the Naval Dockyard in Mumbai.
Oil and Natural Gas Corporation (ONGC), the country's leading oil and gas exploration and production company, is entering the alternative energy segment with a Rs 1,200 crore-plus (Rs 12 billion) investment to generate 200 mw of wind power for captive use, within two years.
Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,025.34 per kilolitre, or 4 per cent, to Rs 71,800.21 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
While its operating radius remains secret, a back-of-the-envelope calculation indicates it can easily strike targets 1,000 kilometres away and return to base.
MCX launched contracts in gold, heating oil, gasoline, natural gas, sliver HNI and aviation turbine fuel (ATF). The futures contracts will expire between February and May and the trading specifications will remain unchanged, the exchanges said.
Besides, it owes an interest of Rs 423.43 crore (Rs 4.23 billion) to IOC, Rs 92.73 crore (Rs 927.3 million) to BPCL and Rs 66.17 crore (Rs 661.7 million) to HPCL.
While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
After failing to convince states to keep petroleum products within the ambit of the proposed goods and services tax (GST), the Centre has finally relented. It has agreed to the proposal of the empowered committee of state finance ministers to keep petroleum products like crude, motor spirit, aviation turbine fuel (ATF) and high-speed diesel out of GST.
Rates have been on the upswing since October, 2016.
Russia -- already India's biggest arms supplier from 2014-18, accounting for 58 per cent of India's defence imports -- eyes more, reports Ajai Shukla.
or the first time, the size and specifications of the Indian Navy's future aircraft carrier have been officially acknowledged.
The price of wind power may soon compete with conventional fossil fuels, according to researchers in the United States
The only fuel that showed growth was LPG as the government dole of free cooking gas cylinders to poor households fired up consumption by 21 per cent during April 1 to 15.
Mangalore Refinery and Petrochemicals Ltd, a subsidiary of Oil and Natural Gas Corporation, is considering plans to increase sales of aviation turbine fuel in the domestic market and cut down on exports gradually.
Jet fuel (ATF) price was on Monday hiked by a steep 56.5 per cent and that of non-subsidised cooking gas LPG by Rs 11.5 per cylinder on the back of firming up of international oil rates, but petrol and diesel prices continued to remain on freeze for a record 78th day. Aviation turbine fuel (ATF) price was hiked by Rs 12,126.75 per kilolitre (kl), or 56.5 per cent, to Rs 33,575.37 per kl in the national capital, according to a price notification by State-owned oil marketing companies.
A subsidised 14.2-kg cylinder will now cost Rs 425.06 in Delhi as against Rs 423.09 previously, according to State-owned oil firms
LPG rates were last hiked on November 1 by Rs 2.05 per cylinder. Prior to that rate was hiked on October 28 by Rs 1.5 per cylinder on account of hike in commission paid to dealers.
Maharashtra will get some respite from its power crises next week
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price cut will bring relief to the cash-strapped carriers.
The motorcycle will be imported to India via CBU (completely built units) route and made available at all the five exclusive Kawasaki showrooms across the country.
The price of non-subsidised cooking gas (LPG) was on cut by Rs 21 per cylinder and that of jet fuel (ATF) by a steep 3 per cent on the back of falling international oil rates.
Flying high on the country's aviation industry boom, Indian Oil Corporation expects to continue its double digit growth in the aviation fuel business despite the entry of Oil and Natural Gas Corporation into the segment.
This is the second straight increase in jet fuel rates in as many months.
The most remarkable feature of these warships is that, tonne-for-tonne, they are not only one of the world's most heavily armed but also one of the cheapest.
Aviation turbine fuel or jet fuel price was on Wednesday hiked by a steep 9.2 per cent, while that of non-subsidised cooking gas was raised by Rs 21 per cylinder.
No immediate comment was available from airlines on the impact of the price hike on passenger fares.
