Petrol price was on Tuesday evening hiked by about 35 paise per litre in line with firming raw material cost. Petrol will cost Rs 67.56 per litre in Delhi with effect from midnight Tuesday, industry sources said. ...
11:18 PM, Jan 15, 2013
Shares in Oil & Natural Gas Corp rose as much as 3.6 per cent on January 10 as part of a rally across oil companies after the oil ministry moved a proposal to raise diesel prices to the federal cabinet. ...
11:26 AM, Jan 10, 2013
Two petrol pump employees were killed while another was seriously injured when six robbers opened fire at them in Varsola village near Gurdaspur after they refused to hand over cash, police said on Wednesday. Police have launched a hunt for the six assailants after registering an FIR. ...
11:02 AM, Jan 09, 2013
Prime Minister Manmohan Singh on Monday favoured phased rationalisation of energy prices to bring it in line with global levels and curbing energy subsidies to achieve the targeted rapid, inclusive and sustained growth. He said the central and state governments must work together to create awareness among the public on the need for 'curbing' energy subsidies. ...
12:12 AM, Jan 08, 2013
Diesel prices may be hiked by Rs 10 per litre over a 10-month period and kerosene rates increased by same quantum over the next two years if a proposal of the Oil Ministry is accepted. The price hike is being considered as the government scrambles to find ways to meet an unprecedented Rs 160,000 crore deficit expected this fiscal on selling diesel, cooking gas (LPG) and kerosene below their production...
04:32 PM, Dec 27, 2012
Judicial reforms were the flavour of the year as the government focused its efforts on bringing a bill on judicial accountability and kept up its plans to change the present system of appointment of judges where the executive has little say. In March, the Lok Sabha passed an ambitious bill to lay judicial standards but despite two sessions of Parliament the bill could not be brought in the Rajya Sabha....
12:52 PM, Dec 27, 2012
Government today informed the Lok Sabha that Environment Pollution (Prevention and Control) Authority (EPCA) has recommended that there is need to ban diesel vehicles in Delhi to prevent emission of high smoke particles. ...
04:37 PM, Dec 17, 2012
Weeks ahead of roll out of the direct cash subsidy transfer scheme, the Petroleum Ministry on Tuesday said the plan will not be easy to implement because of the low base of people with the unique identity Aadhaar cards. The government has identified 51 districts for the roll out of the scheme in the first phase beginning January 1. ...
05:24 PM, Dec 11, 2012
The BJP on Monday termed as "baseless and politically motivated" the allegations levelled by Union minister Manish Tiwari about the Gujarat State Petroleum Corporation's (GSPC) deal with a foreign company. "The Congress has invented a scam which does not exist. Contracts given or contracts cancelled are normally done with prior approval given by the Director General Hydrocarbons... Even in this matter it is so," said Nirmala Sitaraman, BJP spokesperson. ...
11:27 PM, Dec 03, 2012
The Congress Party is on the attack in Gujarat. Quoting an investigation done by Tehelka magazine, the party has questioned why the Narendra Modi government gave 10 per cent equity in a gas field to a firm, GeoGlobal, that exists only on paper. ...
06:23 PM, Dec 03, 2012
Union Minister of State in PMO V Narayanasamy on Sunday alleged that the Rangasamy led AINRC government in Puducherry had "failed to collect taxes due from dealers in petrol and diesel and power consumers" leading to financial crisis in the union territory. ...
04:18 AM, Dec 03, 2012
New Delhi: Petrol price was on Thursday cut by 95 paise per litre, the second reduction in rates since October, on account of fall in international oil prices. Following the cut, petrol in Delhi would cost Rs 67.24 a litre from Thursday midnight, down 95 paise from Rs 68.19 a litre. Prices vary from city to city due to differential local sales tax or VAT rates. The last reduction in...
05:52 PM, Nov 15, 2012
Surajkund: Prime Minister Manmohan Singh on Friday justified recent "difficult" decision to hike prices of petroleum products and asked Congress cadres to have confidence in these measures arguing these were necessary. "We have to make all out efforts to change the conditions that affect the rapid growth of the country's economy," he said addressing a dialogue meeting of top Congress leaders in this picnic town on the outskirts of the...
11:46 PM, Nov 09, 2012
New Delhi: Petrol price may be cut by as much as Re 1 per litre over the next few days when state-owned oil firms review rates. Petrol prices were last revised on October 27 when they were raised by 29 paise to Rs 68.19 per litre in Delhi following the government raising the commission paid to petrol pump dealers. "There has been some reduction in gasoline rates (against which the...
11:42 PM, Nov 09, 2012
New Delhi: India will pay Rs 30,000 crore to state-owned fuel retailers forced to sell at cheaper government-set rates in the first half of the year, said three sources who saw the finance ministry's confirmation letter. The government fixes retail prices of liquefied petroleum gas, kerosene and diesel to protect the poor, leading to revenue losses at state-run Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp. The payout...
08:50 AM, Nov 09, 2012
New Delhi: Sulking Science and Technology Minister S Jaipal Reddy on Monday said anybody handling the ministry of petroleum and natural gas would be "totally frustrated". "I was the minister of petroleum and natural gas. Anybody who handles this portfolio will be totally frustrated as nobody knows why the oil prices increase," he said at the International Bio-energy Summit in New Delhi. Reddy pointed out that India imported 75 per...
02:10 AM, Nov 06, 2012
After the government put on hold the Rs 26.50 hike on non-subsidised LPG cylinders, Petroleum Minister Veerappa Moily said it was the oil companies' decision and not the ministry's, as had been reported. The minister further added that the public sector oil firms will take a call on raising the cap on subsidised LPG cylinders. ...
12:39 PM, Nov 03, 2012
Jaipal Reddy denies reports that he was upset over being moved out of the Petroleum Ministry under corporate pressure. ...
10:48 PM, Oct 29, 2012
New Delhi: New oil minister Veerappa Moily has promised to speed decision making in an effort to attract foreign investment, and will push domestic oil companies to aggressively bid for foreign oil and gas assets to meet growing energy demand. Moily was appointed as the country's new Petroleum and Natural Gas Minister, replacing Jaipal Reddy, as part of a broader cabinet reshuffle unveiled on Sunday. Moily said his ministry would...
03:50 PM, Oct 29, 2012
New Delhi: Stepping into a ministry that had in recent times was seen as indecisive, the new Petroleum Minister M Veerappa Moily on Monday promised quick decisions and creating an environment conducive for investment to flow in. Moily, 72, who replaced S Jaipal Reddy, said his priority would be to intensify domestic oil and gas exploration to reduce import dependence that had played havoc with inflation. "Emphasis will be on...
02:09 PM, Oct 29, 2012
