Oil Companies

  • 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...
  • Cabinet nod for shale gas exploration on nomination basis 24-09-2013 09:09 PM

    New Delhi:The Cabinet Committee on Economic Affairs on Tuesday approved exploration and exploitation of shale gas and oil by national oil companies (NOCs) on acreages given on a nomination basis. "This policy will allow NOCs to carry out exploration and exploitation of unconventional hydro-carbon resources particularly shale gas and oil...
  • Fuel prices hiked; Petrol dearer by Rs 2.35 per litre, diesel by 50 paise 31-08-2013 09:05 PM

    Petrol price was Saturday hiked by a steep Rs 2.35 per litre, the sixth increase in rates in three months, and diesel by 50 paise per litre on falling rupee and firming international oil prices. ...
  • Libya warns will destroy tankers illegally exporting oil 27-08-2013 05:15 AM

    Tripoli: Libya warned on Monday it will attack and destroy any tanker illegally exporting oil after forces last week fired at a Liberian-flagged tanker close to the country's largest crude oil export terminal. The tanker, which sought to load crude oil that armed protesters blocking the country's main export ports...
  • 'Fall to impact oil companies' 16-08-2013 07:50 PM

    Oil manufacturing companies will have no option but to increase prices, claims Oil expert. "Oil companies will have no option but to force the government to allow them increase oil prices," Oil expert Narendra Taneja said. ...
  • Should oil prices be decided by government or market forces? 17-01-2013 11:44 PM

    The government on Thursday allowed oil companies to increase diesel price by 50 paise per litre every month. ...
  • Rs 26.5 hike in cooking gas cylinders put on hold 01-11-2012 11:22 PM

    New Delhi: Facing stiff opposition, the government on Thursday put on hold the Rs 26.50 increase in price of cooking gas cylinders that consumers buy beyond their quota of six subsidised bottles. "The price hike has been put on hold," a top oil company official said declining to give a...
  • Petrol price hike unlikely this fortnight 02-01-2012 06:20 PM

    New Delhi: Petrol prices will not be raised this fortnight as state-owned oil firms apparently could not get political clearance for the over Rs 2 per litre hike in rates needed to achieve parity with the imported cost on account of the weakening rupee. Indian Oil (IOC) and other state-run...
  • Petrol prices slashed by 78 paise 30-11-2011 08:24 PM

    New Delhi: With global crude rates coming down, petrol price has been cut by Rs 0.78 per litre, the second reduction in two weeks. The reduction, which will be effective from midnight, was lower than the anticipated cut of Re 1 per litre because of drop in rupee and firming...
  • Petrol prices may be cut by Rs 1.02 a litre 30-11-2011 03:47 PM

    New Delhi: State-owned oil marketing companies will meet later on Wednesday to review petrol prices and may cut the prices by Rs 1.02 a litre, the second reduction this month, on falling global oil rates. The PSU oil companies, which on November 16 cut petrol price by Rs 2.22 per...
  • Petrol price cut: is it politics over economics? 16-11-2011 07:13 AM

    New Delhi: Petrol prices have been cut by Rs 1.85 per litre, the first cut in the last 33 months. But what forced oil companies to roll back prices just after the hike a fortnight back? Is it the angry 'aam admi' on the street that has forced the oil...
  • Reduction in petrol price a positive step: Mamata 15-11-2011 08:49 PM

    Kolkata: West Bengal Chief Minister Mamata Banerjee, who had threatened that her Trinamool Congress would quit the UPA if the prices of petro products were raised again, on Tuesday, said she was happy that the Centre had decreased the price of petrol. Reacting to the reduction in price of petrol...
  • Petrol prices slashed by Rs 1.85 per litre 15-11-2011 06:38 PM

    New Delhi: Oil companies have reduced petrol prices by Rs 1.85 per litre across India. This means that in Delhi petrol prices will get cheaper by Rs 2.22 per litre, after the reduction of VAT. "States have the option to reduce VAT," reports said. Petrol price in Mumbai has been...
  • Petrol prices likely to come down by Rs 2 15-11-2011 07:56 AM

    New Delhi: In what comes as a major relief for the 'Aam Aadmi', the petrol prices are likely to be brought down by Rs 2. According to sources in the Oil Ministry, though the cut down cannot be termed as a rollback, it is the government that has suggested the...
  • Fresh oil subsidies could aggravate inflation: PM 13-11-2011 06:35 PM

    New Delhi: Prime Minister Manmohan Singh has said that any fresh subsidies for oil marketing companies to bring down fuel prices would only increase the government's budgetary burden, which eventually could aggravate the inflationary pressures even further. "If the (fuel) prices go up, we have to either raise domestic prices...
  • India @ 9 with Rajdeep Sardesai 11-11-2011 11:52 PM

    Catch the day's top stories on India at 9 with Rajdeep Sardesai. ...
  • Rollback in petrol price hike likely next week 11-11-2011 09:49 PM

    New Delhi: Oil companies may finally succumb to public pressure as a possible Re 1 cut in petrol prices is likely to happen next week. Sources told Network 18 on Friday that oil marketing companies might roll back petrol prices next week. The oil retailers had on November 4 hiked...
  • Kingfisher flights cancelled to cut losses: Mallya 10-11-2011 05:35 PM

    New Delhi: Kingfisher Airlines is going through troubled times as over 100 pilots have quit after they were not paid their salaries even as the company cancelled over 80 flights in the last two days. The cancellation of 80 flights in the past couple of days left thousands of passengers...
  • Over 100 Kingfisher pilots quit: Sources 10-11-2011 02:53 PM

    b>New Delhi: Over 100 Kingfisher pilots have submitted their resignations, sources said on Thursday. It is reported that the reason behind the mass resignation is because employees are yet to get their salary for the month of October. The cash-strapped airline cancelled almost 80 flights saying it had to drop...
  • Petrol prices could dip: Oil companies 09-11-2011 07:00 AM

    New Delhi: The Government has been blaming oil companies for increasing petrol prices as it is the only oil product that is deregulated. But how true is its claim that not raising prices will bleed these companies to death? Every time petrol prices are raised the nation goes through a...
  • Pranab defends govt on petrol price hike 04-11-2011 02:04 PM

    New Delhi: Finance Minister Pranab Mukherjee on Friday said that hike in petrol prices will have adverse effect on inflation. "Petrol is a decontrolled item. Nobody in the government knows about the petrol price hike because prices are increased by the petroleum companies not by the government, Mukherjee said. Oil...
  • Oil companies press for Rs 1.82/litre petrol hike 01-11-2011 02:29 PM

    New Delhi: New Delhi: Less than two months after raising fuel prices by a whopping Rs 5 per litre, the State-owned oil companies are pressing for a Rs 1.82 per litre increase in petrol prices. Oil company officials say this is because of rupee depreciation and hardening of crude oil...
  • Oil cos hike ATF price by 2.5 pc 15-09-2011 06:11 PM

    New Delhi: After two consecutive price cuts, state-owned oil companies on Thursday hiked jet fuel, or ATF, price by 2.5 per cent in line with firming of international oil rates. Aviation Turbine Fuel (ATF) price at Delhi's T3 airport was hiked by Rs 1,429 per kilolitre (kl), or 2.5 per...