The minister said necessary orders have been issued to oil depots asking them to conform to the safety norms.
Petrol prices were freed from government control last month, resulting in a Rs 3.50 per litre rate hike in Delhi.
Sena also said that laying a brick for the $44 billion (Rs 3 lakh crore) mega refinery project at Nanar in Ratnagiri district of Maharashtra would be akin to laying the foundation stone for a cancer hospital there.
The increase in petrol price, which the oil firms had been holding since January even though crude oil had touched a two-and-a-half-year high, came a day after election results of five state assemblies were announced.
India should learn to live with high energy prices for rapid economic growth, said Planning Commission Deputy Chairman Montek Singh Ahluwalia after two of the state-owned oil companies hiked petrol rates this week.
Indian companies have become bigger and stronger in the last ten years with the average revenue of a company on the Fortune India 500 list standing at Rs 7,632.5 crore (Rs 76.32 billion).
IOC has hired six banks, Merrill Lynch, Citigroup and ICICI Securities, to handle the public offer.
Since May 1, the dynamic fuel pricing model has been applied on a pilot basis in 5 cities
The multilateral lending agency holds 3.9 crore (Rs 39 million) shares in Petronet LNG, which at today's trading price of Rs 114.85 is worth Rs 448 crore (Rs 4.48 billion).
This increase excludes local levies. The actual hike after considering VAT would be Rs 2.84 per litre in Delhi for petrol and Rs 2.11 for diesel.
At present, to be eligible for the job of chairman, a person from within the company should not be even a day older than 58 years.
They want more cash, forex, higher bond coupons and increase in market prices for petrol, diesel, LPG.
Indian Oil Corporation, the nation's largest fuel retailer, is likely to hike petrol prices by Rs 0.33 per litre from Tuesday. IOC Chairman B M Bansal said international crude oil prices have risen since the last price revision, necessitating an increase in domestic retail prices.
Government doctors were visiting severely affected areas to distribute medicine for the residents to safeguard themselves against diarrhoea and other water-borne infections.
From automobiles, cement, infrastructure to oil and gas and banking, Indian companies have established themselves as one of the most successful in the world.
Hike comes on back of a massive 6.14 per cent increase in rates effective from March 16 in line with rising crude oil prices.
Having made a forgettable ODI debut against Sri Lanka in July 2005, Raina makes history on his Test debut against the same opponents five years on.
Aiming to raise Rs 40,000 crore (Rs 100 billion) from disinvestment, the government on Wednesday said it will sell its stake in 10 more PSUs, including IndianOil, MMTC, Coal India Ltd, SAIL, RINL and Shipping Corporation, in the current financial year.
State fuel retailers IOC, Bharat Petroleum and Hindustan Petroleum sell diesel, domestic LPG and kerosene at government dictated rates which are lower than cost of production.
More than 40% of the companies surveyed showed job contraction in FY18, says a report by CARE Ratings
The hike comes on back of two massive hikes effected on February 1 and 16.
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
Those in favour of a 15-day cycle for price adjustment argue that oil firms already have a mechanism of calculating the desired fuel prices on 1st and 16th of every month.
In Delhi, petrol price down Rs 2.5 a litre, diesel by Rs 2.25
State-run Indian Oil Corporationon Tuesday said that it has earmarked $1 billion for the acquisition of good-quality producing or developing E&P assets abroad.
ONGC Videsh Managing Director R S Butola and Bharat Petroleum Director (Refineries) R K Singh are among the 17 candidates in the fray for the top job at Indian Oil Corp, the nation's largest oil firm.
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.
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.
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.
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.
Petrol price was on Saturday cut by Rs 0.50 per litre but there will be no change in rates of diesel.
US sanctions against Iran kick in from November 4, which will block payment routes. Sources said India and Iran are discussing reverting to rupee trade after November 4.
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.
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