New government policy on biofuels may consider financial incentives. Indian Oil Corporation, the country's biggest oil marketing company, is looking to acquire 50,000 hectares of wasteland in Uttar Pradesh for plantation of non-edible oilseeds, such as jatropha and karanjia, that are used for biodiesel production.
With the new Bharat Stage IV emission norms coming into effect from Thursday, oil companies are gearing up to meet the requirements of Mumbai, an official said on Friday.
Petrol price was on Saturday cut by Rs 0.50 per litre but there will be no change in rates of diesel.
The company is already in talks with Indian oil refiners to buy paraxylene which is developed from naphtha, a refining byproduct. The company plans to use paraxylene as a raw material to make purified terephthalic acid (PTA), a petrochemical product used in polyester and plastic.
The Oil Ministry has approved part sale of government's stake in Oil and Natural Gas Corp as well as Indian Oil Crop, a move that could fetch about Rs 24,000 crore (Rs 240 billion) for the Centre this fiscal.
State-owned oil firms on Tuesday cut jet fuel, or ATF, prices by 4 per cent, the first reduction in rates since July, on softening of international oil prices.
According to the latest rankings issued on Monday, the left-handed Sharan is ranked 50th after gaining a place. He had reached the final of the last three tournaments he participated in, winning the ATP 250 European Open, while ending runner-up at Challenger events in Brest and Tashkent with different partners.
The permission right now is for delivery only for stationary usage. This limits the service to those who operate units like diesel generation sets.
The government is not considering selling equity in Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC), Petroleum Secretary S Sundareshan said on Wednesday.
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
State-owned Coal India is likely to get listed by October and may be accorded Maharatna tag by 2010 end, while BHEL has to wait for at least a year to be awarded with the coveted tag, a senior official said on Friday.
Speaking at the national conference on 'Safe transportation of hazardous, dangerous goods through land, air, sea and pipelines in Ahmedabad on Monday, member of the NDMA J R Bharadwaj said that there was a gap between disaster mitigation and preparedness. "We have all the rules and regulation in place for crisis management, but the main problem lies in its implementation," Bharadwaj said.
The five companies which topped the list are Reliance Industries Ltd, Oil and Natural Gas Corporation, Indian Oil Corporation, NTPC Ltd and Bharat Petroleum Corporation
The Government may be keen on having a greater say in affairs of Petronet LNG as it is looking at appointing a bureaucrat as director on board of the nation's biggest liquefied natural gas importer.
Oil Minister Murli Deora flew into the Vietnamese Capital this morning with heads of bluechip Indian oil firms to lay a claim with Hanoi on BP's stake in two offshore gas fields, a pipeline and power project -- together referred as Nam Con Son, Vietnam's largest gas project.
The 7-member committee, headed by former Hindustan Petroleum chairman M B Lal attributed the fire to lack of safety procedures and human error.
The state-owned oil firms on Wednesday hiked jet fuel prices by a huge 3.6 per cent to Rs 46,876.58 per kl, making it the fifth straight increase in rates since October when international crude oil prices started rising.
Pradhan said a team of officials of state-run Indian Oil Corporation had visited Vietnam and explored some business ventures
State-run Indian Oil Corporation plans to set up solar power panels and power plants at its over 18,100 retail outlets across the country at a cost of Rs 500 crore (Rs 5 billion).
Mangalore Refinery and Petrochemicals Ltd (MRPL) will double offtake of crude oil from Cairn India's Rajasthan fields to 0.4 million tons this fiscal.
Indian Oil Corporation has started buying crude oil from Cairn India's Rajasthan oil fields, which have now crossed the 1,00,000 barrels per day mark in production.
Aviation turbine fuel rates in Delhi were raised by Rs 1,297, or 3.2 per cent, to Rs 41,489 per kilolitre effective midnight tonight, said an official of Indian Oil Corporation, the nation's largest oil marketing firm.
Though the government had earlier this fiscal explicitly decided to compensate Indian Oil, Hindustan Petroleum and Bharat Petroleum for the losses they incur on selling domestic LPG and kerosene through PDS by way of oil bonds, the finance ministry has not issued any bonds for the three quarters.
'People can relate to him much the way they did with a young Sachin Tendulkar 30 years ago.'
State-owned Indian Oil Corp and Oil India Ltd on Tuesday confirmed making an 'approach' to take over the Middle-East focussed oil firm Gulfsands Petroleum Plc for an undisclosed cash amount.
State-owned oil firms on Tuesday hiked jet fuel by 5.5 per cent in sync with rise in global rates.
Infosys Technologies and Wipro have made it to the list every year since 2005.
The Centre has indicated that it would consider giving direct cash subsidy to state-owned oil marketing companies this year, instead of bonds, to compensate them for selling cooking fuel at lower than market price.
Chanda Kochhar has been ranked as the most powerful woman in the Asia Pacific region by fortune magazine.
Three fuel retailers -- Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited -- lost about Rs 26,618 crore (Rs 266.18 billion) in revenues on selling petrol, diesel, domestic LPG and kerosene below cost during the first half of the current fiscal, a ministry official said.
ATF price in Delhi was reduced by Rs 4,765.5 per kilolitre (kl), or 11.9 per cent.
Modi made a strong case for a partnership between the producers and consumers in the oil market as it exists in other markets.
Jyoti Punwani pays tribute to Syed Feroze Ashraf, the eternal do-gooder who changed the lives of many children.
Petrol price was on Tuesday hiked by Rs 2.58 a litre and diesel by Rs 2.26 per litre, the second increase in rates this month.
The Petroleum Ministry on Wednesday sought over Rs 19,620 crore (Rs 196.20 billion) in compensation for state retailers Indian Oil, Bharat Petroleum and HPCL, which sold cooking fuels below cost in 2009-10 fiscal.
Modelled loosely around the National Highway System of the US, he in 2001 launched the Golden Quadrilateral and the North-South & East-West Corridor projects to build 4/6 lane highways between four top metropolitan cities of Delhi, Mumbai, Chennai and Kolkata as well as from Srinagar to Kanyakumari and Porbandar to Silchar.
New Delhi has missed its target for partial privatisations for the past five years
"We will be guided by our national interest," he said.
State-owned Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum are collectively losing Rs 2.65 billion (Rs 265 crore) per day on selling fuel below cost and may end the fiscal with a Rs 874.4 billion (Rs 87,440 crore) revenue loss.
The state-owned Indian Oil Corporation may see revenue loss on fuel sales jump 63 per cent to over Rs 42,540 crore (Rs 425.40 billion) in the current fiscal.
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