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 companies brought yet another steep hike in petrol price, by Rs 1.80 per litre with effect from Thursday midnight making...
02:04 PM, Nov 04, 2011
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 prices. They also say that the hike may happen as early as this fortnight itself. Public sector oil firms had...
02:29 PM, Nov 01, 2011
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 cent, to Rs 57,689 per kl with effect from Thursday midnight, said an official of Indian Oil, the nation's largest...
06:11 PM, Sep 15, 2011
New Delhi: Petrol prices are set to go up by Rs 3 per litre as the Rupee touches a two-year low against the Dollar, increasing the cost of crude oil imports - oil company heads will meet in Mumbai on Thursday to take a final decision. This comes after the IOC chairman met Oil Minister Jaipal Reddy to push for the increase in rates. Pressure's building on oil companies as...
06:57 AM, Sep 15, 2011
Mumbai: Shares of oil marketing companies Indian Oil, HPCL and BPCL recorded smart gains in early morning trade on Friday, despite an overall downward move on the bourses. Analysts said that the stocks have added value amid reports that the government was moving in direction of de-control of diesel prices. The gains in these stocks were in sharp contrast to huge losses suffered by the overall market in early morning...
09:46 AM, Aug 05, 2011
Catch the day's top stories on India @ 9 with Suhasini Haidar. ...
11:45 PM, Jun 14, 2011
New Delhi: Air India on Monday got a breather on payment of dues to state-run oil companies, which have restricted fuel supply to it, following the intervention of Civil Aviation Minister Vayalar Ravi who met Petroleum Minister S Jaipal Reddy to sort out the issue. In the meeting, Ravi asked Reddy to direct the oil marketing companies to provide aviation turbine fuel to Air India so that the national carrier...
09:47 PM, Jun 13, 2011
New Delhi: The 2G heat has hardly died down and the Comptroller and Auditor General of India (CAG) has again embarrassed the Congress-led UPA government. The CAG's first ever audit of oil companies has said that the government favoured private oil explorers including the Mukesh Ambani-led Reliance Industries Ltd incurring a loss to the exchequer. The CAG report mentions that the oil ministry and its regulatory arm - the Directorate...
09:41 AM, Jun 13, 2011
London: Itâs ironic but currently the most important question of the hour, who will get the Libyan oil and what will happen to oil wells in areas no longer controlled by government troops? Though Libya produces only two per cent of the worldâs oil it does have the most reserves in Africa. Most of the oil that has been discovered and produced in Libya is of very high quality. Itâs...
11:57 AM, Mar 03, 2011
The increase in duties provides no relief to the bleeding oil companies. ...
01:06 PM, Mar 03, 2010
Mike 'Sniffer' Watts is behind India's biggest oil find in two decades. ...
09:07 PM, Jun 29, 2009
The head of the Federation of All India Petroleum Traders said this on Friday. ...
12:13 PM, Jan 09, 2009
Most petrol pumps in the country started to run dry on Thursday. ...
09:52 PM, Jan 08, 2009
The officers are demanding a revision in pay. ...
01:13 PM, Jan 07, 2009
The aviation industry is facing a slump globally and Jet is not insulated. ...
05:52 PM, Oct 20, 2008
Diesel supply in barrels kept the gensets of IT firms rolling until the recent ban. ...
08:58 PM, Aug 21, 2008
Under the Weights and Measures Act, it is mandatory to display MRP and the date of refilling of cylinders ...
05:10 PM, Aug 02, 2008
