Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
India, the world's third-largest energy consumer and importer, on Wednesday warned of high oil prices hurting the nascent and fragile global economic recovery and floated an idea of long-term supply contracts that provide predictable and stable pricing. Speaking at the India Energy Forum by CERAWeek, Oil Minister Hardeep Singh Puri said there was a mismatch between demand for oil and the supplies producers such as OPEC+ were making and there was a case for raising the production. The world, he said, needs "predictable, stable and affordable" prices for it to recover back to pre-pandemic levels.
India's first 1000 MW atomic power plant built with Russian collaboration at Kudankulam is just two steps away from going critical, a top official said on Friday.
To offset the impact of high import costs, the Planning Commission had said that Coal India Ltd should adopt a pooling formula on prices by combining rates of imported and domestic coal.
Finance Minister Nirmala Sitharaman on Tuesday said there were visible signs of revival in the economy but the GDP growth may be in the negative zone or near zero in the current fiscal.
The government may levy a cess on domestically produced natural gas to fund construction of gas pipeline network, Petroleum Secretary R S Pandey said on Wednesday.
In a major relief to component suppliers in the nuclear energy sector, the government on Tuesday said they will not have any "obligation" if there is any liability. However, the major suppliers, for instance companies building the reactors, will not be absolved if there is such an eventuality.
Modi made a strong case for a partnership between the producers and consumers in the oil market as it exists in other markets.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances