Dharmendra Pradhan lays bare the next course of action for his ministry and says RIL will have to pay the same price at which it produced the volumes.
State-run Indian Oil Corporation on Wednesday it was incurring a loss of Rs 50 crore (Rs 500 million) per day on sale of all fuel products but petrol.
Every dollar increase in crude oil price will add Rs 4,000 crore to the overall underrecovery.
L N Mittal's foray into oil and gas trading business through a joint venture with ONGC is facing fresh opposition from refiner Indian Oil Corp, which feels the JV is ineligible to bid for its tenders.
Around 700 migrant workers, women and children have lost their lives in this reverse migration. But what is happening today with the migrant labour is only a continuation of the policies pursued by the Modi regime during the last six years. It is not for nothing that India was ranked the most dangerous country in the world for women in 2018 by the Thompson Reuters Foundation poll, points out Rashme Sehgal.
Rural inflation running higher than urban: HSBC
Public sector oil companies lost Rs 9800 crore (Rs 98 billion) in the first six months of 2004-05 fiscal for selling petroleum products below the import cost, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
BJP would observe the next 10 days -- from Sunday to September 17, the birthday of the PM -- as 'seva parva'.
State-run Bharat Petroleum Corp Ltd on Wednesday said it has tied up with Hindustan Lever Ltd and three other kitchenware brands for selling grocery items to its LPG customers through its distributor network.\n\n\n\n
As Prime Minister Narendra Modi is set to deliver his third Independence Day speech on August 15, he is inviting ideas from citizens on issues he should speak on
Amidst criticism on increasing prices of petroleum products, Prime Minister Manmohan Singh on Saturday got support from his wife Gursharan Kaur on the issue who asked people to make a 'sacrifice.'
RIL and BP completed the initial exploratory work on the 21 blocks, but decided to retain only four of them.
The strike by workers of state-owned oil firms Hindustan Petroleum Corp and Bharat Petroleum Corp to oppose privatisation of the cash-rich refiners entered the second day on Wednesday but operations and petroleum product supplies remained unaffected.
Maruti Ciaz and Ertiga are exempt from the infrastructure cess and so, there is no change in the prices of these models.
The government will cut excise and customs duty on petrol, diesel, LPG and kerosene to contain the effect of spike in international crude oil prices, which touched an all-time high of $47 a barrel.
India's only private sector oil refiner, Reliance Industries, has sought a two-year extension of its agreement with Indian Oil Corp to sell Jamnagar refinery products through the state-run firm's retail network.
Most of the participants in our poll believed that the hike in petroleum product prices is a positive trigger for companies.
"From now onwards, women will not have to change their names in the passport after their marriage," Modi told a gathering of the Indian Merchants Chambers' ladies wing over a video conferencing. The government wants the woman of the house to be the priority in all of its development schemes, he added.
Reliance Industries is seeking about Rs 400 crore (Rs 4 billion) from state-owned oil retailers in unrealised amount on liquefied petroleum gas and kerosene, it sells to them.
Modi made a strong case for a partnership between the producers and consumers in the oil market as it exists in other markets.
An $1 per barrel change in crude price impacts the net import bill by Rs 3,513 crore.
Costlier fuels, including LPG, pushed up inflation to 5.38 per cent for the week ended December 6 -- the fourth week in a row that saw rising inflation -- even as prices of vegetables, rice and some edible oils declined.
Petroleum Minister Ram Naik is likely to meet Finance Minister Jaswant Singh on January 30 to seek excise duty cut on petroleum products in view of excessive volatility in international crude oil prices.\n\n\n\n
Prices of petrol were reduced 32 times and increased 21 times while diesel prices were slashed 19 times and raised 28 times since 2013.
OMCs are currently incurring daily under-recovery of Rs 230 crore.
Addressing the nation for the fourth time since he took office in 2014, the prime minister called upon the citizens to perform their duties towards the nation and co-operate to work towards a common goal of peace, harmony and development in the country.
The government allocated Rs 650 billion for petroleum subsidies in FY14, of which Rs 450 billion was used to pay oil marketing companies for the subsidy gap incurred in the previous financial year.
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.
Declining crude price translates into lower under-recoveries for OMCs
Responding to a series of questions on the situation in Jammu and Kashmir during Question Hour, Shah also asserted that not a single person has died in police firing after August 5 when the special status accorded to Jammu and Kashmir was scrapped.
Prime Minister Modi arrived in Riyadh late Monday night on a two-day visit to Saudi Arabia to participate in the high-profile financial summit Future Investment Initiative, dubbed "Davos in the desert", an initiative of Saudi Crown Prince Mohammed bin Salman.
Away from limelight, Jeevika Didis are silently fighting the coronavirus in rural Bihar.
After a spike, losses on sale of diesel have fallen by nearly a rupee to Rs 2.49 per litre as international oil rates have moderated.
The Union home ministry has issued strict guidelines for the enforcement of the 21-day complete nationwide lockdown in the wake of the covid-19 pandemic, invoking the National Disaster Management Act which may result in imprisonment of up to two years for any violation. All government offices, the offices of state and Union territory governments, autonomous institutions, public corporations, commercial, private, industrial establishments shall remain closed, the guidelines issued by the ministry said.
Says GDP growth rate from 2014-15 to 2015-16 will be greater than that of 2014-15 from 2013-14
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
Eying a prominent role in the next government at the Centre, the All India Anna Dravida Munnetra Kazhagam on Tuesday promised to extend populist schemes like distribution of free mixies, grinders, fans, milch cows and goats across the country in its Lok Sabha manifesto.
'Karna is the greatest warrior in the Mahabharata -- in fact, Arjuna is a nobody in front of Karna.' 'But Arjuna had a better advisor in Krishna than Karna.' 'Karna failed because he listened to the wrong advice given by Salya.' 'It just shows wrong advisors can land even the mighty in trouble.'
