A suicide car bomber attacked a police checkpoint, guarding several government ministries, as Iraqi employees arrived for work on Monday, killing at least 7 policemen and 3 workers, police said.
Reliance Industries Ltd, India's largest private sector oil firm, has seen a 70 per cent drop in its diesel sales in July on pricing the fuel higher than public sector firms to cut losses.
Petroleum Minister Murli Deora is seeking to give a big push to domestic oil and gas hunt through a slew of fiscal incentives including infrastructure status to exploration and production business and exemption from service tax.
He also states that there has been no confirmation from the oil ministry that pricing autonomy would be given to oil companies.\n
Reliance Natural Resources Ltd has questioned oil ministry's right to approve the price at which a producer sells gas to customers, saying its nod was needed only for the formula or basis of pricing of gas for computing government's share.
The Prime Minister's office is understood to have declined an extension to Subir Raha, the high profile chairman of Oil and Natural Gas Corporation.
The petroleum ministry has said that fuel prices should go up by Rs 10.43 a litre and cooking gas price by Rs 114.45 per cylinder, with the Left parties opposing the move.
Bharat Petroleum Corp, Hindustan Petroleum Corp and IBP will turn financially sick by next year as losses arising from freeze on fuel prices are set to erode their net worth, according to oil ministry estimates.
A government missive to Petronet LNG Ltd on appointment of the company's new managing director and chief executive officer may trigger Securities and Exchange Board of India's takeover code
UB group chairman Vijay Mallya on Tuesday said that Delhi Chief Minister Arvind Kejriwal was pursuing "unconventional methods" to attain his objectives while asserting that there should be no "witch-hunt" against industrialists.
Despite the steep hike of Rs 20 per LPG cylinder announced last week, domestic cooking gas in India is still the cheapest in the subcontinent.
India has given a four-month ultimatum to Iran to offer a discovered oil field if it wanted to export 5 million tonnes of liquefied natural gas to New Delhi.
The Government has deferred its plan to raise natural gas prices from January after strong protests from the power and fertiliser ministries, a government official said on Tuesday.
The rates, on net calorific value (NCV) basis, dropped to $ 5.05 per mmBtu for six month period beginning April 1, 2015.
The OilMin is likely to announce the price for next six months soon.
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
A casual worker employed at the Defence Ministry was arrested on Tuesday for allegedly providing forged identity card to a key accused in petroleum ministry leaks case while police maintained that no sensitive documents were leaked or stolen from the defence ministry.
India's oil ministry has decided to divert 30,000 barrels per day (bpd) of indigenous crude oil from refiner Hindustan Petroleum Corp, which is being privatised, to feed small state-run refineries in remote areas, officials said.
Govt depts, banks prone to information leakage.
India will have an oil products surplus of seven million tonnes in the year to March 2004, an oil ministry spokesman said
India's imports from Iran rose to 250,200 barrels per day
Many believe that marketing budgets could be a hurdle.
An empowered group of ministers headed by Defence Minister A K Antony is to consider an Oil Ministry proposal of abolishing the priority ranking later in the day, according to which natural gas is first given to urea manufacturing fertiliser plants, then to LPG units, followed by power plants, city gas, steel and refineries.
Based on this settlement, the Supreme Court has disposed of the case on February 20.
Indian Oil Corp, the country's largest refiner, said on Thursday the value of its inventory of crude oil and refined products dropped Rs 350 crore (Rs 3.5 billion) in April as crude prices fell after the Iraq war.
The government ruled out any major jump in petrol and diesel prices after the elections, but said a review to bring the domestic prices in line with the raw material cost will be done by the new government.
The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
Moily said several gas fields of both RIL and state-owned Oil and Natural Gas Corp were economically unviable to produce at current rate of $4.2 per million British thermal unit.
Oil Ministry felt it did not have a clear mandate to reduce rates post the January 2013 decision of the Cabinet to raise prices by 40-50 paisa a litre every month.
Under-recovery or revenue loss on diesel has risen to Rs 10.48 per litre from Rs 9.99 a litre in the first fortnight of December, an official statement said in New Delhi.
Oil and Natural Gas Corporation had in 2007 farmed out 15 per cent stake in the KG-DWN-98/2 block, which sits next to Reliance Industries' KG-D6 block, to Brazil's state-controlled oil firm Petroleo Brasileiro SA or Petrobras.
Both of them will be produced in court around noon.
The prohibition has freed up as much as 60 million litres of ethanol
Modi is believed to have signed on Ashok's appointment file before he left for Brazil to attend BRICS Summit, an oil ministry official said in New Delhi.
The smaller cylinders will be sold at market rates.
The price of non-subsidised LPG, which customers buy after using up their quota of 12 subsidised cylinders, was raised to Rs 922.50 per 14.2-kg cylinder in Delhi on July 1, the first hike in six months.
The reduction in natural gas prices would mean lower raw material cost for compressed natural gas (CNG) and natural gas piped to households (PNG).
The withdrawal of the arbitration will now entitle the two companies to marketing and pricing freedom on the natural gas they produce from newer fields in the deep sea at an investment of Rs 40,000 crore by 2022.
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