Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
'Indian and Iranian sources both confirmed to me that India and Iran are moving ahead to implement a payment system on buying oil from Iran and hope to finalise it very soon,' says Aveek Sen.
Despite the premium, the Suzuki Gixxer SF feels worth every penny making it our winner in this comparison against Yamaha Fazer and Bajaj Pulsar Adventure Sport 150
Vodafone's operating loss from India business jumped to 692 million euros in April-September from 133 million euros in the same period last year.
State-run oil refiners are likely to report profits on daily sale of petrol, diesel, cooking gas and kerosene in the fortnight ending December 31, after average crude oil prices have been nearly 3 per cent lower and the rupee has appreciated 3.2 per cent compared with the first fortnight of this month.
"The downgrade would mean they would have no buyers for their debt papers. It would also impact borrowing from overseas banks," said a Mumbai-based analyst.
State owned refiner Indian Oil Corporation has proposed merger of its subsidiaries Indian Oil Blending Ltd, IBP Co Ltd, Bongaigaon Refinery and Petrochemicals Ltd and Chennai Petroleum Corp Ltd with itself, Petroleum Minister Mani Shankar Aiyar said
However, the state-run oil marketing company a couple of months back had re-phased the project comprising the refinery and a petro-chemical complex in view of escalating cost. Both the refinery and the petro-chemical complex at Paradeep were earlier estimated to cost Rs 26,000 crore (Rs 260 billion). But the cost has now gone up to about Rs 45,000 crore (Rs 450 billion).
The proposed chemical plant will use 2,50,000 tons of naphtha produced by IOC's Barauni refinery and the natural gas that GAIL plans to bring from eastern offshore and imported LNG through the planned Jagdishpur-Haldia pipeline. The two firms by the fiscal year would prepare a techno-economic feasibility study for the unit that would take up to five years for construction.
Sterlite Industies (India) on Saturday inked a definitive agreement to acquire the operating assets of Tucson-based Asarco LLC for $2.6 billion in cash, the largest buying abroad by an Indian company this year.Asarco, formerly known as American Smelting and Refining Company, is an over 100-year old company and is currently the third largest copper producer in the US.
Indian Oil Corporation (IOC), the country's largest oil refiner and marketing company, is looking to cut operating costs in order to offset the daily loss of Rs 150 crore (Rs 1.5 billion) due to selling petroleum products at subsidised rates.
Oil Minister M Veerappa Moily has suggested pricking the ballooning oil bill with everything from a street theatre campaign encouraging lower fuel use, to shutting fuel stations, to increasing imports from Iran.
The scheme calls for banks, refineries and hallmarking centres to work together.
Banks in talks with temple trusts to push gold scheme
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
The government on Monday fixed the issue price of the share at Rs 1,050 per share, raising about Rs 4,982 crore (Rs 49.82 billion). The public issue of OIL, which closed on September 10, was subscribed nearly 31 times, generating demand for shares worth over Rs 85,576 crore (Rs 855.76 billion).
The government also proposed promoting 'one product one district' for better marketing and export of horticulture crops. It also called on states for early implementation of three key central model laws on land leasing, agriculture produce and livestock marketing and contract farming.
Making sense of the international crude market is incredibly hard.
Referring to first Prime Minister Jawaharlal Nehru as the one who built modern India, Mukherjee said that he had helped build an atmosphere of free debate and discussions and not conflict and confrontation.
Indian Oil Corporation, the nation's largest refiner, has lost out in the race for acquiring French company Maurel & Prom's stake in oilfields in Congo.
Iraq has invited Indian Oil Corporation, the country's largest oil refiner, to set up refineries in the war-torn country, and also participate in other downstream projects, a government statement said.
Oil firms' borrowings could fall by up to Rs 15,000 cr, govt's subsidy bill by 12% .
Essar Communications mandates four international banks to arrange a fully-underwritten $3.59 billion term loan
'Refusing to implement the CAA-NRC, as some states have done via resolutions in state assemblies, is a violation of the Constitution; an attempt to alter the fundamental structure of our democracy and a recipe for anarchy,' argues Vivek Gumaste.
The Fortune 500 company -- it recently improved its rank to 135 -- has identified forward integration into petrochemicals as its next big business opportunity.
India is the 4th largest oil consumer after the US, China and Japan.
The company, which unveiled its compact multi-purpose vehicle Triber in India, is bringing the MPV only in petrol engine option as part of the strategy even as it prepares to introduce electric vehicles in the near future.
India captain Virat Kohli stressed on the importance of all-rounder Hardik Pandya's presence in the ODI side in order to get the ideal bowling combination for the World Cup.
Tatas have joined hands with state refiner Indian Oil and exploration firm Oil India Ltd to consider bidding for acquiring Caspian Energy Group LLP's (CEG) interest in an Azerbaijan oil field.Tata Petrodyne Ltd, a wholly-owned subsidiary of Tata Sons, has joined the IOC-OIL combine to make a bid to buy CEG's 51 per cent stake in the Shivran Oil Operating Company that runs the Kyurovdag oil field in Azerbaijan, industry sources said.
The positive impact of the February 14 hike in petrol and diesal prices on oil marketing companies has been negated in just a fortnight with daily retail losses of these companies going back to over Rs 410 crore (Rs 4.1 billion) for the fortnight ended February 29. This is due to the steep rise in global crude prices in recent days. The retail prices were hiked by Rs 2 per litre for petrol and Re 1per litre for diesel.
The government shouldn't hide behind the veil of making a domestic giant out of the HPC-ONGC deal, rather it should just say it needs cash from this divestment exercise, says Sudhir Bisht.
The Reliance juggernaut is back in action with a $20-billion-plus investment plan.
The letter comes amid reports of dedicating the Teen Murti complex in the memory of all ex-PMs.
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
Domestic oil companies have been invited by countries like Yemen, Nigeria and Saudi Arabia to pick up stake in existing refineries and also set up greenfield units.
As part of its efforts to make Indian firms globally competitive, the government has allowed refiner Indian Oil Corporation and exploration firm Oil and Natural Gas Corporation to set up oil trading and risk management desk.\n\n\n\n
The new missile is capable of delivering nuclear and conventional warheads up to 350 km.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances