Plans disinvestment in IOC and Coal India.
Parliamentary panel seeks changes in crude import norms.
This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (Rs 12,126.75 per kl) on June 1. Simultaneously, petrol and diesel prices were hiked for the 10th day in a row.
In September, issue of new LPG connections had been put on hold pending a massive nationwide exercise to eliminate multiple connections
To help them make up for the revenue lost on selling auto and cooking fuel below cost.
IOC has asked consumers to book LPG refill through IVRS or SMSes so that refills reach genuine users.
IndianOil targets monthly 5,000-tonne polypropylene exports
The government had in January authorised state-owned oil firms to hike diesel prices by small doses of up to 50 paisa per litre every month.
IndianOil Corp Ltd, for instance, saw a growth of around 22 per cent in volumes and nearly two per cent in its market share. It traded nearly 10,517 million tonnes (mt) of auto gas in December against 8,593 mt of auto gas in September.
The joint venture will participate in exploration and production of gas and oil globally. It will also develop natural gas infrastructure projects.
A major fire broke out on Saturday at a petrol storage tank of state-owned Indian Oil Corp's Hazira terminal in Gujarat.
The price reduction will be effective midnight tonight, announced Indian Oil Corp
Petrol price has been reduced four times since March.
Indian Oil Corporation's stake sale received overwhelming reponse from investors.
The Houston-based company is selling up to 50 per cent of its oil-sand reserves in Alberta. There are some producing assets and some exploration assets on offer.
State-run banking giant SBI has said it temporarily exceeded RBI-prescribed credit exposure limit for the fourth year in a row in 2011-12 with regard to loans given to Mukesh Ambani-led Reliance Industries (RIL).
Losses on sale of diesel at government-controlled rates have hit a record Rs 19.26 a litre, sending state-owned oil companies scrambling for ways to cover the mounting losses.
Govt's move will facilitate entry of global giants such as Total SA of France, Saudi Arabia's Aramco, BP Plc of the UK, and Trafigura's downstream arm Puma Energy.
"Air India is unable to pay even after a 90-day credit period. They owe us about Rs 300 crore without interest. There is also no bank guarantee from Air India to any of the oil marketing companies. We do not know when will the company honour its dues," said a BPCL official on condition of anonymity.
The price of petrol has risen by 83 paise per litre in the past nine days and diesel by 73 paise
It constitutes over 40 per cent of an airline's operating costs.
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
The cut reflects changes in global prices of the two fuels since the last revision.
In a major relief to cash-strapped airlines, jet fuel (ATF) prices were today reduced by a massive 5 per cent, the steepest reduction in rates since February 2010.
The three oil PSUs have told Air India that if it did not make the monthly lump sum payment, they will stop fuel supply from October 11 at six major domestic airports.
State-owned Indian Oil Corp and GAIL Ltd are looking at picking up an equity stake in LNG projects in Africa to meet growing energy needs of the country, Oil Minister S Jaipal Reddy said on Friday.
In a major relief to cash-strapped airlines, jet fuel (ATF) prices were on Monday cut by a steep 4.3 per cent, the first reduction in rates in three-and-a-half months.
Rates at different airports vary because of differential in local sales tax or value added tax.
In Mumbai, jet fuel will cost Rs 72,830.64 per kl from tomorrow as against Rs 68,103.26 per kl at present.
IOC had challenged the Uttar Pradesh government decision.
Jet fuel prices were on Thursday hiked by 3.8 per cent, the second increase in rates in as many months.
The increases have snapped a six fortnight trend of reduction in rates.
The price of aviation turbine fuel, or jet fuel, in Delhi was hiked by Rs 1,039.1 per kilolitre, or 1.7 per cent, to Rs 62,208.18, according to Indian Oil Corp, the nation's largest oil firm.
A day after raising petrol price by a steep Rs 1.80 a litre, Indian Oil Corp, the nation's largest fuel retailer, on Friday said the hike was unavoidable as rupee depreciation has increased crude imports costlier.
IOC and other state retailers had on September 16 raised jet fuel price by 2.5 per cent.
Petrofed, a body representing both public and private sector companies like Indian Oil Corp and Reliance Industries, has written to the government seeking inclusion of crude oil, petrol, diesel, aviation turbine fuel and natural gas in the goods and services tax that is likely to come into effect from next year.
ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.
A tough initial lockdown was imposed beginning March 25 but dreams of a V-shaped recovery after it was eased in May have been obliterated by a surge in cases and new lockdowns.
IOC said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely
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