The growth of key infrastructure industries slowed down to 2.3 per cent in December 2008 from 3.2 per cent a year-ago, mainly on account of drop in output of steel and crude oil.
Oil and Natural Gas Corporation will set up a specialised trading desk in India to market crude oil received from investments in oil fields abroad and surplus petroleum products from subsidiary Mangalore Refinery Petrochemicals Ltd.
Natural gas and fertiliser output recorded a negative growth of 1.7 per cent and 1 per cent, according to the data of the Commerce and Industry Ministry.
ONGC and the Hinduja group are lining up investment of close to $20 billion in exploration assets in Iran and a refinery and LNG terminal in India.
The Western Ghats Ecology Expert Panel report, submitted by ecologist Madhav Gadgil last year, was further delaying the Rs 30,000-crore (Rs 300-billion) refinery project of Hindustan Petroleum Corp Ltd (HPCL) in Maharashtra, a senior official of the state-run oil marketing firm said. The project has already been delayed due to bureaucratic red tape.
Consolidated revenue rose to a record Rs 163,854 crore.
In Delhi, petrol price down Rs 2.5 a litre, diesel by Rs 2.25
They set afire a 5000KL petrol tank, blasted a gas pipeline, attacked a police post and a commando barrack and fired at a Bihari settlement, killing two persons.
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
The Fortune 500 company -- it recently improved its rank to 135 -- has identified forward integration into petrochemicals as its next big business opportunity.
Harvey is the most powerful hurricane to hit the United States mainland in 12 years on Saturday made landfall in central Texas coast with winds of 195 kmph.
Essar has announced a $6bn expansion plan to more than triple capacity at its refinery, while Reliance, at its site a few kilometres away, is working on plans to almost double capacity.
Aramco Trading Co, a subsidiary of state oil giant Saudi Aramco, offered 2.8 million barrels of ultra low sulphur diesel for loading in late July to early August
Growth was primarily pushed by a jump in steel and electricity generation, apart from a sustained rise in natural gas output.
Eight infrastructure industries have posted a growth rate of 8 per cent for September on account of good performance by crude oil, steel and electricity sectors.
Business opportunity after phased diesel deregulation the main trigger.
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.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Oil and Natural Gas Corporation has received the first shipment of Sakhalin-I crude oil from Russia at its subsidiary Mangalore Refinery and Petrochemicals Ltd.
Bharat Petroleum Corporation Ltd will import 1.4 million barrels (0.2 million tonnes) of Iraqi Basra Light crude oil during September-December.
KazStroyServices is present in Kazakhstan, India, Turkmenistan and West Asia.
Colombo can handle more container traffic than all of India's ports put together. For a country with a long maritime tradition, this is a pathetic state of affairs, saya T N Ninan.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
The growth in eight infrastructure industries slowed to 2.3 per cent in May mainly due to contraction in crude oil, natural gas, coal and fertilizer output.
The core infrastructure industries had expanded by 5.2 per cent in the previous month.
Essar Oil on Tuesday said it will set up 50 petrol stations before the end of this fiscal.
A countrywide truckers strike has hit India's diesel sales and oil companies could be forced to cut refinery runs and reduce imports if the protest continues, industry officials said on Wednesday.
The government has asked Essar Oil to provide within 45 days documentary evidence of deletion of all charges on Ratna R-Series oil fields that were created for raising funds for its Vadinar refinery project.
State-run Oil and Natural Gas Corporation on Monday said it has resolved differences with Cairn India Ltd for building a $340-million pipeline to take crude oil found in Barmer district of Rajasthan to Gujarat.
With natural gas and cement showing decline in production, the growth of eight core infrastructure industries slowed down to 5.3 per cent in May against 7.4 per cent a year ago.
The company has begun discussions with foreign players besides Petronet LNG Ltd for jointly developing the Rs 4,500-crore (Rs 45-billion) terminal.
Putting aside the plan for setting up a greenfield refinery in the state, Cairn Energy India, in a joint venture with ONGC, is planning to build a 500-km pipeline to evacuate crude oil from the Mangala, Bhagyam, and Aishwarya fields.
During December 2011, the core sectors recorded a growth of 3.1 per cent against 6.3 per cent same period previous year.
State owned refiner Indian Oil Corporation has proposed merger of its subsidiaries Indian Oil Blending Ltd, IBP Co Ltd, Bongaigaon Refinery and Petrochemicals Ltd and Chennai Petroleum Corp Ltd with itself, Petroleum Minister Mani Shankar Aiyar said
Eight infrastructure industries grew by 3.5 per cent in August this year, down from 4.4 per cent expansion witnessed in the same month last year.
Reliance from 0600 hours today began complying with an oil ministry order asking it to first supply gas produced from eastern offshore KG-D6 fields to priority users -- urea making fertiliser plants, electricity generation houses, LPG extraction units and city gas distribution firms.
Currently, the government evaluates performance of six key sectors -- crude oil, petroleum refinery, cement, electricity, finished steel and coal -- on a monthly basis.
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