Credit rating agency Moody's Investors Service on Friday assigned senior implied issuer ratings of Ba1 to India's Tata Power and Indian Oil Corp -- one notch above the sovereign rating it assigns to India.\n\n\n\n
High interest costs and a weak rupee may raise overall debt, even as refinancing may not be an issue.
IOC and other state retailers had on September 16 raised jet fuel price by 2.5 per cent.
They beat Indian Oil via the tie-breaker in the final of the Gold Cup hockey tournament.
Whatever be India's course of action, it will have an impact on India-Iran ties, notes Aveek Sen.
State-owned oil companies on Tuesday slashed jet fuel prices by over 3 per cent as an appreciating rupee made imports cheaper.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the third quarter ended December 31, 2018.
With the government putting off an increase in diesel prices, Petroleum Minister Murli Deora sought an increase in government subsidy to bail out the three oil marketing companies (OMCs). Deora met finance minister Pranab Mukherjee in Mumbai to seek an immediate release of `10,000 crore as interim subsidy to Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation.
State-owned Indian Oil Corporation (IOC) - a Fortune 500 company - dominates the Indian market with a 49.6 per cent market share.
Foreign institutional investors (FIIs) have raised their stakes in public sector oil marketing companies (OMCs) in the three months ended September 30 - the first quarter after the government decontrolled petrol prices and announced plans to decontrol diesel rates as well.
There are about 23 oil refineries in India with a combined capacity of 230 million tonnes per annum.
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.
Oil companies last week sent a notice for stopping aviation turbine fuel supplies to Air India at some airports like Calicut and Jaipur, officials said in New Delhi.
In another match in the Bombay Gold Cup, Prabhjot Singh's brace gave IOC a 2-1 win over Karnataka XI.
A litre of diesel will cost Rs 48.01 compared to Rs 49.31 at present
Oil & Natural Gas Corporation (ONGC), Delhi, rode on a fine hat-trick from Akashdeep Singh to trounce Indian Oil Corporation (IOC), Bangalore, 5-2, while Bharat Petroleum Corporation Limited (BPCL), Bangalore, struggled to overcome South Central Railway (SCR), Secunderabad 1-0 in the semi-finals on Friday.
Olympus Capital, UTI's PE arm to fund Rs 400 crore.
Under Clause 49, independent directors are required to have at least 50 per cent representation on the board of directors of listed entities, including listed Central Public Sector Enterprises, in case the chairman is an executive member, or at least one-third in case the chairman is non-executive.
Today, less than six weeks into the 2011-12 financial year, the government used up its entire budgetary provision of Rs 20,000 crore (Rs 200 billion) for petroleum subsidy.
The company is also looking to expand the supply of gas by roads and is evaluating creation of small storage hubs along the highways.
The bankmen came back from a goal down to beat Indian Oil 2-1 in the ONGC-Nehru hockey tournament.
Sources said government headhunters Public Enterprise Selection Board had on September 29 last year, named Butola as its most preferred choice to head the nation's largest oil firm.
The railways, the country's largest employer, will be hiring 127,000 people in 2018-2019, for which 23.7 million are competing.
Oil Minister Dharmendra Pradhan said the new timing of the price change was agreeable to the dealers and so daily price revision will be implemented from June 16
The 12-digit unique number that the UIDAI will generate will be combined with the the smart card project of the Oil Ministry for distribution of PDS kerosene and domestic LPG through biometric identification of beneficiaries.
State-run Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum currently sell petrol, a commodity which the government freed from its control in June last year, at a discount of about Rs 4.50 a litre to its imported cost.
This is the third reduction in rates this month
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.
IOC and its sister PSUs, Hindustan Petroleum and Bharat Petroleum, sell diesel, domestic LPG and kerosene at rates way lower than their imported cost to help government keep general price inflation under check.
Kaushik Basu, chief economic advisor in the finance ministry, said, "All I can say is, we are very serious about fiscal consolidation, and intend holding on to our fiscal targets, even if the crude price rises on a sustained basis."
Karnataka and Steel Authority of India Limited from Orissa scored hard-fought victories in their respective boys' quarter-final matches to set up an interesting semi-final in the 35th Junior (under-20) National Hockey Championship, organized by Pune District Hockey Association in association with the Pimpri-Chinchwad Municipal Corporation, under the auspices of the Indian Hockey Federation.
Last year witnessed a growth rate of 10.8 per cent against a 13.9 per cent rise in 2009-10.
The government on Thursday approved Rs 20,001 crore in additional cash subsidy to state-owned oil companies to compensate them for selling fuel below cost in 2010-11 fiscal. With this, the government has paid a total of Rs 40,912 crore in subsidy to oil companies in 2010-11 financial year, an oil ministry official said.
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 movement of prices in the international oil market and rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes
Under the scheme, National Iranian Oil Co, too, will open an account in a UAE or Turkey-based bank to receive direct money transfer from oil companies.
The company, like Hindustan Petroleum and Bharat Petroleum, the two other government-owned oil marketers, sells diesel, kerosene and LPG at government regulated prices.
The total investment at risk is $930 billion and oil companies will need to cut their expenses by 30 per cent to make their projects viable provided oil remains around $70 a barrel.
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