Margins for the oil refining and retailing sector have moved off their peaks, and the average integrated margins (refining plus marketing) for oil marketing companies (OMCs) have normalised. The ascent in crude oil prices, combined with static retail prices, has depressed marketing margins for diesel and petrol. However, the fall in marketing margins has been offset by increased gross refining margins (GRMs).
Anil Agarwal-led Vedanta's Sterlite Copper has come out with a fresh notification inviting expressions of interest (EoIs) to supply raw materials like copper concentrate, imported thermal coal, rock phosphate and petroleum products, among others, as part of its preparatory measures to restart production at its Thoothukudi unit in Tamil Nadu. This plant is likely to restart operations if a Supreme Court verdict goes in favour of the company. On June 12, the company had invited EoIs for carrying out plant 'restart activities'.
The Kelkar Committee, which was appointed by Finance Ministry to suggest a roadmap for fiscal consolidation, has suggested immediate hike in fuel prices and complete deregulation of diesel prices by start of 2014-15 fiscal.
Minutes after the Union Cabinet approved raising the cap on subsidised liquefied petroleum gas (LPG) cylinders from nine to 12 per connection in a year, Reserve Bank of India (RBI) Governor Raghuram Rajan questioned the decision, suggesting it was "misdirected subsidy".
The seeding of LPG database with Aadhar numbers is above 55 per cent and overall Aadhar penetration is 90 per cent in these districts.
The three state-owned fuel retailers have been "directed to stop supplies of LPG refills to households having multiple- connections for which no KYC (Know Your Customer) details have been received, with effect from June 1," a statement issued by Indian Oil Corporation, the nation's largest oil firm, said.
The three govt-owned OMCs - IndianOil, BPCL and HPCL - together meet the country's entire LPG cylinder demand.
Prime minister's office wants OMCs to bear credit subsidy for remaining 8 subsidised units on reimbursement basis.
In September 2012, the government had capped the number of LPG cylinders at six to reduce the subsidy burden.
It also demanded increasing the number of liquefied petroleum gas cylinders per family to 12, instead of nine as decided by the government on Thursday.
It could become a giant leap towards lasting reform if the experiment in direct benefit transfers for cooking gas subsidies pans out.
Bajaj Auto has launched a new range of passenger three-wheelers, with improved mileage, changed styling and lower maintenance costs.
Congress president and United Progressive Alliance Chairperson Sonia Gandhi has directed all party-ruled states to subsidise three additional cylinders a year for domestic liquefied petroleum gas, raising the cap on subsidised cylinders from six to nine.
Concerns on lower natural gas transmission, LPG rate cut & APM gas price hike might be priced in but no positive triggers
Oil pricing freedom as an idea can succeed only if the ownership of the key oil refiners (read the public sector oil companies) ceases to be government-dominated.
However, unlike cellular services where consumers have the option to switch between different mobile companies, LPG consumers would have the limited option of changing only their dealers, not the oil company.
From online frauds to LPG cylinder accidents, manufacturers and service providers give a host of covers.
Gandhi in a tweet wrote, "Mehngi gas, mehnga ration, band karo khokhla bhashan, daam bandho, kaam do, varna khali karo singhasan."
As the state police declined the provincial administration's directive to allow police stations to be used as distribution points for the supply of liquefied petroleum gas cylinders to the consumers, the crisis has only deepened.
This is the second postponement of the DBT launch in LPG. It was initially planned to be introduced from January 1.
At present, around 12 per cent of around 190 million rural households today use LPG to meet their cooking energy needs.
Liquefied petroleum gas (LPG) consumers might soon get to exercise an option to not get any subsidised cylinders.
In the first price revision after the government capped the number of subsidised cylinders for consumers, domestic liquefied petroleum gas (LPG) has become nearly 17 per cent dearer, thanks to firm international prices.
Finance Minister urged to work on alternative modes to lower inflation and help families save more
The demonstration was staged at the Alka Talkies Square in the city where the women lit the earthen stove fire using wood and kerosene and offered the tea without milk to the bystanders, even as party workers raised anti-government slogans denouncing the fuel price hike.
The state-owned refiner has offered 15,000 tonnes in a tender.
With an eye on bigger imports, the oil marketing firm may get its French partner Total to set it up.
The decision was taken at a full commission meeting held on Thursday under the chairmanship of Chief Election Commissioner V S Sampath, and communicated to the Union Cabinet, which met to take a call on the matter.
According to sources, the task force made a separate presentation on fertiliser, LPG and kerosene, covering issues like existing subsidy regime and the proposed new model.
A team of scientists at the Indian Institute of Petroleum in Dehra Dun has developed a new technology to convert environmentally-hazardous plastic into petroleum products.
The government on Monday constituted an inter-ministerial task force under UIDAI chairman Nandan Nilekani for evolving mechanisms to provide direct subsidies on kerosene, cooking gas and fertilisers to intended beneficiaries.
It will soon be two years since petrol was decontrolled, but few will happily celebrate this second birthday.
Relief seen from easing global crude oil prices, phased diesel decontrol and capping of LPG cylinders.
When household bills for Liquefied Petroleum Gas (LPG) jump over 60 per cent for those using 12 refills a year, the increase in the price of cooking fuel will beat that of petrol.
Diesel price hike is a tough decision and we need lot of tough decisions to get to 8 per cent growth rate," Planning Commission Deputy Chairman Montek Singh told reporters.
Oil companies begin pilot testing work on direct LPG subsidy.
Underrecovery from sensitive petroleum products seen at Rs 1,55,000 cr in current fiscal.
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.
The explosion, which was caused by a liquefied petroleum gas leak shattered windows in nearby buildings, blew away a bus stop sign and destroyed several cars parked in the neighbourhood, according to a fireman at the scene, state-run Xinhua news agency reported.
Petroleum ministry expects that this would encourage the rich and affluent also to voluntarily give up the subsidised LPG.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances