According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
The government's subsidies on food, fertilisers and petroleum are estimated to decline by 39 per cent to Rs 4,33,108 crore this fiscal and fall further by 27 per cent to nearly Rs 3.18 lakh crore in 2022-23. In its revised Budget (RE) estimate for the 2021-22 fiscal, the government has pegged total subsidies to be at Rs 4,33,108 crore against the actual Budget estimate of Rs 7,07,707 crore in the previous financial year. Out of which, the food subsidy is estimated to decline to Rs 2,86,469 crore in the current fiscal from Rs 5,41,330 crore in 2020-21, while petroleum subsidy is estimated to fall to Rs 6,517 crore from Rs 38,455 crore in the said period.
Tata Motors on Monday launched the country's first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes. Most truck makers, including Tata Motors, currently offer CNG only in the small and light commercial vehicle segments. The company also launched a fleet of seven trucks in the intermediary and light commercial vehicle (I&LCV) segment, meant for varied applications.
In India, economic activity slowed substantially in 2019, with the deceleration most pronounced in the manufacturing and agriculture sectors, whereas government-related services sub-sectors received significant support from public spending, the Bank said.
The Congress had on Friday extended support to the countrywide 'chakka jam' called by the farmer unions, saying party workers will stand shoulder to shoulder with farmers in their protest.
In a move that will give cooking gas consumers more choice, state oil marketing companies have started selling mini 5-kg LPG cylinders at subsidised rates.
Five-time MLA Parshottam Solanki, who is also known as 'Bhai' among his followers, has been winning Bhavnagar-Rural with a comfortable margin.
One of the major challenges before the government is that the annual average refill by a PMUY consumer is 3.28 cylinders compared to seven for others.
The additional delivery charge for 'urgent' supply of LPG cylinder is nothing but a fraudulent exercise. It is just another backdoor price hike, former Petroleum Minister Ram Naik said.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
From road transport to health insurance, tax rules have changed from October 1.
This is the tenth hike in the price of petrol in just over a year. With this hike, inflation is likely to rise sharply once again.
Petrol prices on Thursday crossed Rs 73 a litre mark, the highest level since the BJP government came to power in 2014, while diesel touched a record high of Rs 64.11 a litre.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
After grappling with the issue for two years, the Ministry of Petroleum and Natural Gas had on November 21 ordered that the margin to be charged, over and above the gas sale price, should be fixed between the seller and buyers in all sectors other than urea and LPG.
Financial assistance of Rs 25,000 to one lakh persons going on pilgrimage to major Hindu temples, increase in maternity leave period and assistance, cut in fuel prices and steps to ban National Eligibility cum Entrance Test (NEET) were the various promises made by the Dravidian party.
In the brief history of the hill state of Uttarakhand, there has not been a single instance where a chief minister has lost a by-election, reports Shishir Prashant.
West Bengal Chief Minister Mamata Banerjee on Friday said that her government was willing to provide 'full relief' to common people and farmers hit by the increase in diesel price and restriction on subsidised LPG, if the Centre allowed the state to collect taxes taken away by it.
Sheila Dikshit answers the question everyone is asking: 'What after the Commonwealth Games'?
Sonia hit out at the BJP, saying the ruling party's "divisive agenda" has become a regular feature of political discourse in all states and that history is being "mischievously distorted" to add fuel to its agenda.
The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister Narendra Modi's vision for a gas-based economy and raising the share of the environment-friendly fuel in India's energy basket, an industry body that represents the likes of Reliance Industries as well as state-owned firms, has said. Natural gas is currently outside the ambit of GST, and existing legacy taxes -- central excise duty, state VAT, central sales tax -- continue to be applicable on the fuel. In its pre-Budget memorandum to the finance ministry, Federation of Indian Petroleum Industry (FIPI), which boasts of members from across the oil and gas spectrum, also demanded rationalisation of GST on transportation of natural gas through pipeline as well as on re-gasification of imported LNG to help bring down cost of the environment friendly fuel.
The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target which Finance Minister Nirmala Sitharaman has set from divestment proceeds in the Budget for 2020-21.
The growth, however, may not indicate a major revival of economic activity.
Indian basket at 6-month low of $49.11 a bbl
Congress general secretary Randeep Surjewala also said, "Saheb knows his qualities very well". He also shared a copy of the news report.
India's cities must switch over to piped gas leaving LPG cylinders.
State-owned Indian Oil Corp (IOC) is losing Rs 151 crore per day in revenues on selling diesel, domestic LPG and kerosene below their imported cost, a company official said on Thursday.
While the Union Cabinet had in November last year approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7. The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On Wednesday, the government said this deadline is further being extended up to July 31.
Will appeasement, rising unemployment and her dictatorial style become major obstacles in her path? asks Payal Singh Mohanka.
The savings would be better spent and might actually reach the poor, says Rahul Khullar.
Petroleum ministry has suggested extending government subsidy on domestic LPG and kerosene for an indefinite period as the gap between domestic retail price and current international prices was too large to be bridged through a price hike.
The Indian basket represents the price of Oman and Dubai sour grade crude.
Relief seen from easing global crude oil prices, phased diesel decontrol and capping of LPG cylinders.
The government is selling its entire 100 per cent stake in Air India but wants effective control to stay with Indian nationals.
Profit on sale of diesel swelled to Rs 1.90 per litre as oil ministry awaits return of Prime Minister Narendra Modi to cut rates.
Having failed to align cooking gas prices with the market and limit the number of subsidised cylinders to consumers, the government is now trying to curb the misuse of multiple connections in households.
A new formula for pricing natural gas in the domestic market was determined; the decontrol of diesel prices was announced; and the scheme that directly transferred subsidies to bank accounts of users of liquefied petroleum gas (LPG) cylinders was modified and relaunched.
#GiveItUp but no matching LPG connections for BPL
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