Oil

  • Moily planning to give oil field to Essar cheaply: AAP alleges 16-04-2014 06:16 PM

    Firing a fresh salvo against the UPA government, Aam Aadmi Party on Wednesday alleged that Union Oil and Petroleum Minister Verappa Moily is planning to give an oil field off Bombay High to the Essar Group at dirt-cheap price. Party leader Prashant Bhushan said this move will result in the...
  • IOC to cut petrol prices by 1.2 per cent from Wednesday 15-04-2014 07:00 PM

    Indian Oil Corp Ltd will cut retail prices of petrol by 1.2 per cent from Wednesday as the rupee has strengthened against the dollar since the last revision, it said in a statement on Tuesday. In 2010, the Indian government allowed fuel retailers to charge market rates for petrol and...
  • Petrol price cut by 70 paise per litre 15-04-2014 06:34 PM

    New Delhi: In a good news for the people, petrol price has been cut by 70 paise per litre. The price changes announced by oil companies are excluding local sales tax or VAT with effect from Tuesday midnight. Earlier, petrol and diesel prices were hiked by 75 paise and 50...
  • Petrol prices to be reduced by over Re 1 26-03-2014 06:27 PM

    Petrol prices are likely to be cut by over one rupee a litre early next week, as appreciation in value of rupee against US dollar and fall in global oil rates has made imports cheaper. However, diesel rates will go up by 50 paisa per litre in line with the...
  • EC asks Oil Ministry to defer doubling of gas price 24-03-2014 11:17 PM

    New Delhi: The Election Commission on Monday asked the government to defer till elections the controversial doubling of natural gas prices for companies like RIL from next month, a move that may torpedo the entire decision for at least a few months. "...after taking into account all relevant facts, including...
  • Centre may ask all refineries to produce fixed level of LPG 06-03-2014 04:51 PM

    New Delhi: Government is likely to order oil refineries, including private sector Reliance Industries and Essar Oil, to maintain a minimum level of LPG production to ensure uninterrupted supply of cooking gas to the public. While India is surplus in petroleum products, production of LPG in the country is lower...
  • Petrol pumps in Hyderabad shut to protest raids 03-03-2014 11:50 AM

    Hyderabad: Petrol pumps in Hyderabad and other major cities and towns in Andhra Pradesh remained closed for the second day on Monday to protest the crackdown by legal metrology department against some outlets allegedly tampering dispensing units. The flash strike, which began on Sunday evening, continued in the twin cities...
  • Disappointed with India's decision to cut oil imports: Iran 28-02-2014 08:37 PM

    Suhasini Haidar: Hello and Welcome to the exclusive interview on CNN-IBN. With me, Iran's Foreign Minister Javid Zarif. India owes Iran nearly $ 5 billion for oil imports, Iran has been seeking some of that payment. Tell us how your talks went? Javid Zarif: I've just started these talks and...
  • ICAI two-day campus placement programme from February 17 03-02-2014 04:40 PM

    Coimbatore: The Institute of Chartered Accountants of India (ICAI) will hold a two-day nationwide campus placement programme from February 17. The programme is being held at 16 different locations in India, including Coimbatore, V Murali, Chief Coordinator of Coimbatore, said on Monday. The programme is held twice every year in...
  • Kejriwal takes credit for 20 per cent cut in Delhi CNG prices 03-02-2014 01:43 PM

    New Delhi: Soon after the Oil Ministry slashed CNG prices in Delhi by 20 per cent, Chief Minister Arvind Kejriwal took credit for the Central government's move. Kejriwal congratulated Delhiites on Twitter over the reduction in CNG price in the national capital. "Congrats delhiites. Just a day before i took...
  • Diesel price hiked by 50 paise; non-domestic LPG cut by Rs 107 31-01-2014 07:57 PM

    New Delhi: Diesel price was on Friday hiked by 50 paise per litre but there will be no change in petrol rates. The hike will be effective from midnight tonight, is excluding local sales tax or VAT. The actual increase will be higher and will vary from city to city....
  • Will Cabinet raise LPG cylinder cap to 12 today? 30-01-2014 01:20 PM

    The Cabinet will meet on Thursday to decide on hiking LPG cylinder cap to 12, according to sources. This comes after Congress Rahul Gandhi urged Prime Minister Manmohan Singh to increase the LPG subsidy from nine to 12 cylinders on January 17. ...
  • Cabinet meets to decide on LPG cylinder cap to 12 30-01-2014 07:41 AM

    New Delhi: The Cabinet meet on Thursday to decide on hiking LPG cylinder cap to 12. The meeting is still on. Meanwhile, the Trinamool Congress has hit out at the Congress questioning the timing of the decision. "I think that this intervention is too little too late. In order to...
  • Cabinet will decide on LPG cylinder cap to 12 on Thursday: Sources 29-01-2014 01:46 PM

    New Delhi: The Cabinet is likely to decide on hiking LPG cylinder cap to 12 on Thursday, according to sources. This comes after Congress Rahul Gandhi urged Prime Minister Manmohan Singh to increase the LPG subsidy from nine to 12 cylinders on January 17. "I appeal to the Prime Minister...
  • Fish oil can increase brain size: Study 23-01-2014 05:53 PM

    Washington: Eating more fish can give you a bigger brain and also protect against diseases such as Alzheimer's, a new study has claimed. People with higher levels of the omega-3 fatty acids found in fish oil may have larger brain volumes in old age equivalent to preserving one to two...
  • Soon after Rahul's speech Centre hikes LPG subsidy from 9 to 12 cylinders 17-01-2014 05:50 PM

    New Delhi: Within minutes of Congress Vice President Rahul Gandhi urging Prime Minister Manmohan Singh to increase the LPG subsidy from nine to 12 cylinders, the Congress leader found his request fulfilled by the Oil Ministry. The Cabinet will meet next week to formalise the increase in the number of...
  • 10 per cent IOC stake to be sold to ONGC, OIL 17-01-2014 08:10 AM

    New Delhi: In the first disinvestment through block deal this fiscal, a ministerial panel on Thursday approved selling 10 per cent government stake in Indian Oil Corp (IOC) to ONGC and OIL to rake in Rs 4,800-5,000 crore. With Oil Ministry continuing to be opposed to selling IOC shares on...
  • CNG price may rise by steep Rs 8 per kg from April 13-01-2014 04:54 PM

    Close on the heels of the biggest-ever increase of Rs 4.50 per kg, the cost of CNG may go up by a steep Rs 8 per kg from April 1 when natural gas prices will almost double. The government on Friday notified the pricing of all domestically produced natural gas...
  • All Norwegians become crown millionaires, in oil saving landmark 10-01-2014 07:58 AM

    Oslo: Everyone in Norway became a theoretical crown millionaire on Wednesday in a milestone for the world's biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices. Set up in 1990, the fund owns around 1 per cent of the world's stocks, as well as bonds...
  • Petrol prices hiked by 75 paise, diesel prices by 50 paise 03-01-2014 07:09 PM

    Petrol and diesel prices will go up by 75 paise and 50 paise a litre, excluding taxes, from midnight Friday, state-run oil marketing company Indian Oil Corporation said. "Indian Oil Corporation has decided to effect increase in the retail selling price of petrol by Rs. 0.75 per litre excluding state...
  • India shuts down South Sudan oilfields, evacuates employees 23-12-2013 05:50 PM

    New Delhi: India on Monday evacuated all its oil employees from strife-torn South Sudan and shut down oilfields amid escalating violence in the world's youngest nation. All 11 executives working on 40,000 barrels per day Greater Nile Oil Project and Block 5A were airlifted, a top source with direct knowledge...
  • Petrol price hiked by 41 paise, diesel by 10 paise 20-12-2013 09:36 PM

    New Delhi: Petrol price was on Friday hiked by 41 paise a litre following the government decision to raise commission paid to petrol pump dealers and firming global oil rates. Simultaneously, diesel rates were increased by 10 paise per litre due to a hike in dealers commission. The two increases,...
  • Diesel price raised by 10 paise a litre on hike in commission 20-12-2013 07:41 PM

    New Delhi: Diesel prices were increased by a little less than 10 paise a litre on Friday after the government raised the commission paid to dealers selling the fuel. The government has "decided to revise the dealer's commission on diesel from Rs 1,089 per kilolitre (or 1.089 per litre) to...
  • World War I 'sacred soil' ceremony honours Indian soldiers 01-12-2013 05:05 PM

    The sacrifice made by thousands of Indian soldiers fighting for the British Army during World War I has been recognised as part of a ceremony London. "Sacred soil" from 70 WWI battlefields in Belgium, which arrived by warship to the UK, was laid at a memorial garden marking the 100th...
  • Diesel price hiked by 50 paise per litre from Saturday midnight 30-11-2013 06:15 PM

    New Delhi: Diesel prices have been hiked by 50 paisa per litre, excluding VAT, with effect from Saturday midnight. The prices of petrol, however, remains unchanged. The price increase, the 11th since January, excludes local sales tax or VAT, oil companies announced. The price of diesel in Delhi will be...
  • Rupee ends unchanged at 62.50 versus US dollar 26-11-2013 09:15 AM

    Mumbai: Rupee on Tuesday ended unchanged at 62.50 versus US dollar after gaining 5 paise to 62.45 per dollar in early trade against previous day's close of 62.50. Ashutosh Raina of HDFC Bank feels dollar-rupee is stuck in a consolidation phase. He expects this sideways movement to continue for some...
  • Rupee gains for second day on corporate dollar inflows 25-11-2013 09:56 AM

    Mumbai: The rupee rose for a second consecutive session on Monday, boosted by dollar selling by corporates and custodian banks, although month-end dollar demand from oil firms could limit a sharp rally in coming days. Gains in the rupee tracked a rally in Indian shares as a drop in global...
  • Three Indian-origin men among Africa's 50 richest 14-11-2013 07:03 PM

    Three Indian-origin men are among the 50 richest persons in Africa this year, according to Forbes magazine. Vimal Shah, Sudhir Ruparelia and Naushad Merali figured in the list with a net worth of $1.6 billion, $1.1 billion and $430 million respectively. Shah, who ranks 18th on the list, is chief...
  • Oil Ministry approves sale of 5-kg LPG cylinders at petrol pumps 04-11-2013 06:47 PM

    After the success of pilot programmes in five metro cities, Oil Minister M Veerappa Moily, on Monday, allowed the sale of 5-kg cooking gas (LPG) cylinders at petrol pumps across the country. The scheme, launched on October 5, allowed petrol pumps owned and operated by oil companies in Delhi, Mumbai,...
  • Petrol price cut by Rs 1.15 per litre, diesel hiked by Re 0.50 31-10-2013 06:51 PM

    New Delhi: Petrol price has been cut by Rs 1.15 per litre, the second reduction in rates in a month, while diesel rate has been hiked by Re 0.25 per litre. The price changes announced by oil companies are excluding local sales tax and VAT and will come into effect...