Videocon Petroleum has earned a temporary reprieve from termination of its contract for Ravva oil and gas field, by agreeing to pay $15 million as part payment for the profit petroleum due to the government.\n\n\n\n
The finance ministry is believed to have objected to some provisions of the policy.
Petrol pumps on Monday did business as usual as the day-long strike call given by Federation of All India Petroleum Traders evoked no response from the fuel station owners.\n\n\n\n
The kerosene subsidy is expected to decline by 40 per cent from Rs 7,595 crore in 2016-17 to Rs 4,500 crore this financial year.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
Petronet LNG Limited is expected to deliver liquefied natural gas from its Dahej terminal at Rs 6,567 per million standard cubic metres (mscm), provided the international price of crude remains at $16 a barrel.\n\n\n\n
Royal Dutch/Shell, the world's third largest oil and gas group, has sought waiver of the Rs 500 crore (Rs 5 billion) bank guarantee norm for grant of licence to sell petrol and diesel.
Inflation rose for the third consecutive week to 5.03 per cent for the week ended May 29 despite cheaper vegetables and fruits, eggs and several edible oils.
The finance ministry has asked state-run oil companies to shell out an interim dividend of Rs 2,600 crore (Rs 26 billion) for the year to March 2003, a government official
Sebi is looking into the matter.
The company is looking to invest more than $3 bn over the next three years.
The 77-year-old was recently diagnosed with pneumonia and was admitted to the hospital, where he died at 1.28 am, a Congress leader said.
Although the future of Direct Benefits Transfer (DBT) on liquefied petroleum gas (LPG) is uncertain for now, the upcoming vote-on-account is likely to account for about Rs 1,300 crore that was transferred to the bank accounts of customers in the form of subsidy.
The government on Thursday said it will "look into" a demand to raise the quota of subsidised LPG cylinders to 12 per household in a year from the current limit of nine, a day after the price of non-subsidised LPG was increased by a steep Rs 220.
Govt diverts Rs 253-crore subsidy savings to the poor.
More than a week after the state-owned oil firms ended a 19-day pre-Karnataka poll hiatus on revising fuel prices, petrol and diesel rates have touched record highs.
The agency would probe whether Sibal had shown undue favour to RIL.
The approval is required to put through gas sales agreements with customers, which in turn are required to finalise Gas Transportation Agreements with transmission companies.
Every dollar increase in crude oil price will add Rs 4,000 crore to the overall underrecovery.
The Cabinet has approved a framework of understanding on cooperation in hydrocarbons with Bangladesh recently.
Govt depts, banks prone to information leakage.
Cooking gas (LPG) dealers on Monday threatened to go on an indefinite strike from January 19 unless oil companies stop appointing new distributors.
A court has taken cognisance of the charge sheet filed by Delhi Police against 13 accused arrested in connection with the petroleum ministry document leak case.
Oil Minister M Veerappa Moily has asked the finance ministry to cut duties on branded petrol and diesel that offer better mileage and help cut fuel consumption.
Both of them will be produced in court around noon.
Quattrocchi lived in India for several years as the representative of an Italian firm, Snam Progetti, in the 1980s. He was close to the Gandhi family and in 1999 was named one of the accused in the case regarding the Rs 64-crore pay-off for the supply of 155 mm Howitzer guns made by Bofors, for which a controversial deal was signed in 1986 when Rajiv Gandhi was the prime minister.
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