Government had last week issued bonds worth Rs 11,256.92 crore (Rs 112.56 billion) to three PSU oil marketing companies to compensate them for under-recoveries on selling petrol, diesel, domestic LPG and PDS kerosene in April-September 2007 period.
Petrol price was on Wednesday hiked by a steep Rs 3.38 per litre and diesel by Rs 2.67 a litre, reversing a two-month declining trend.
Fuel stations operated by companies like Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation (IOC) are increasingly looking at co-branding and space-sharing to boost revenues.
If you are pressed for time, you could eat, shop, as well as service your car, or fill up diesel or petrol.
The meeting was about capex, and as the country is on the growth path, the companies were advised to increase capex, NLC India Chairman and Managing Director S K Acharya said after the meeting.
The Sensex zoomed past the 3,800-mark and closed with a gain of 65 points at 3,807.
Steel baron Lakshmi N Mittal is eyeing to buy half of Hindustan Petroleum Corp's exploration arm Prize Petroleum for about Rs 200 crore (Rs 2 billion). Mittal, which made rapid advances in oil sphere this year first with a 49 per cent stake in HPCL's Bhatinda refinery and then partnering the state-run firm for a separate refinery on the east coast, is in talks with financial institutions to buy out their 50 per cent stake in Prize Petroleum.
The government owned oil companies have proposed to pay interim dividend for the financial year 2006-07
Oil and Natural Gas Corporation has been adjudged the greenest company in the country, while Reliance Industries has been ranked second in a survey conducted by Business Today-ACNielsen ORG-MARG.
Even as Minister of State for Petroleum Dinsha Patel has told the Rajya Sabha that new connections are easily available for genuine customers, householders all over India are facing an acute shortage of LPG cylinders.
When the news of steel baron LN Mittal getting into the energy sector without his Indian exploration and production partner, Oil and Natural Gas Corporation surfaced, there was much speculation about whether the alliance was on the verge of a break-u
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Officers of Central Public Sector Units will go an indefinite nationwide strike from December 22, demanding higher salaries and autonomy for the public sector.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
There are about 23 oil refineries in India with a combined capacity of 230 million tonnes per annum.
Reliance Industries Ltd is seeking export-oriented unit status from the government for its existing 33 million tonne per annum refinery in Jamnagar.
All subsidies will be eliminated by March 2018
Mittal, who is partnering HPCL for the project, will bring to the joint venture his vast expertise in project execution and unparalleled skills in managing governments.
Petrol price was on Saturday cut by Rs 0.50 per litre but there will be no change in rates of diesel.
Mumbai Police has banned the use of flying lanterns during Diwali celebration in a bid to avert possible fire and security threats caused by them to high rise buildings.
The government has decided to go ahead with the privatisation of Hindustan Copper Ltd, setting aside concerns over the fate of units, which were partially nationalised.
The markets opened in red in line with weak Asian peers.
Israeli firm, Rapac Technology, has announced that its subsidiary, Orpak Industries, has won a contract to automate HPCL fuel stations in India, according to a media report.
The markets opened in the positive terrain on the back of positive Asian cues
The markets opened in the positive terrain but slipped and are trading flat as selling was seen in banking and pharma stocks
Petroleum Minister Murli Deora will meet Finance Minister P Chidambaram next week to discuss a package to bail out public sector oil firms that have been suffering huge losses on account of selling fuel on discounted prices.
Chanda Kochhar has been ranked as the most powerful woman in the Asia Pacific region by fortune magazine.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Several members of Parliament have opposed privatisation of public sector oil firms like IOC and have asked the government not to seek a review of the Supreme Court verdict halting privatisation of HPCL and BPCL, Petroleum Minister Ram Naik said.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
According to data shared with the Lok Sabha, 19 road projects awarded after May 2014 were facing delays
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
Oil and Natural Gas Corporation on Thursday said its investments for exploration of oil and gas in India and acquisition of overseas assets would be impacted if government increases the company's subsidy burden.
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