PETROLEUM

  • Oil dips below $84, near four-year low, on oversupply 5 days ago

    London: Brent crude fell to a fresh 47-month low on Wednesday, dipping below $84 a barrel as faltering global growth curbed demand for fuel at a time of heavy oversupply. Oil saw its biggest daily fall in more than three years on Tuesday after the West's energy watchdog slashed its forecasts...
  • Nagaland CM officially launches preoil production operation September 22, 2014

    Kohima: Nagaland Chief Minister TR Zeliang on Monday official launched PreProduction on Oil and Natural Gas Operation in Peren district, some 127 km from. The Operation would be carried out by Metropolitan Oil and Gas Pvt Ltd (MOPGL), New Delhi in the three villages of the district Old Jalukie,...
  • Complete Sun Temple beautification work before festival: Dharmendra Pradhan September 6, 2014

    Bhubaneswar: Union Petroleum Minister Dharmendra Pradhan asked the Archaeological Survey of India and the Puri district administration to complete beautification work of the Sun Temple at Konark before the ensuing Navakalebara festival of Lord Jagannth next year. Pradhan gave the direction after visiting the temple and reviewing the progress of...
  • Bihar government lifts ban on sale of 5 kg LPG cylinders August 8, 2014

    The Bihar government on Friday lifted the ban on sale of 5 kg LPG cylinder, which it had imposed following evidence of their use in the serial blasts at Bodh Gaya in July last year. A release by Minister for Food and Civil Supplies Shyam Rajak said he accepted the plea...
  • Political appointees should resign with change of government: UP Governor Ram Naik August 8, 2014

    UP Governor Ram Naik, who on Friday took additional charge of Rajasthan, said political appointees keeping in mind the tradition, should resign voluntarily withthe change of government. Replying to a question on whether Governors should resign in such cases, Naik said there has been a tradition in the country of "proactive...
  • Government focus on stable, equitable regimes for natural resources June 16, 2014

    New Delhi: As investors await framing of policy by the new BJP government, Oil Minister Dharmendra Pradhan on Monday said that the focus must be on stable and equitable fiscal and regulatory regimes for both investors and owners of natural resources. New investments have almost dried up in the oil and...
  • Nonsubsidised LPG price cut by Rs 23.50, jet fuel by 1.8 pc June 2, 2014

    New Delhi: Jet fuel prices have been cut by 1.8 per cent and rates of nonsubsidised cooking gas (LPG) by Rs 23.50 per cylinder after the rupee's appreciation lowered import costs. The price of jet fuel, also known as aviation turbine fuel (ATF), at Delhi was cut by Rs 1,285.89 per...
  • Centre defers gas price hike till after elections March 25, 2014

    New Delhi: The Centre on Tuesday deferred the hike in gas price till after elections following the Election Commission's directives on Monday. The Oil Ministry was set to double the price of natural gas from April 1. Taking note of an Aam Aadmi Party complaint that the move to hike...
  • Gas price hike: EC takes note of AAP plea, seeks details from Centre March 24, 2014

    New Delhi: With the Model Code of Conduct in force, the Election Commission on Monday sought details from the Centre regarding gas price hikes. The EC asked whether the Petroleum Ministry wanted permission to fix prices or would notify terms and conditions for it. The EC notice comes after the Aam...
  • Rs 5 lakh fine imposed on Mehta petrol pump for defrauding customers February 15, 2014

    Local authority has imposed a fine of Rs 5 lakh on a petrol pump and ordered its sealing for two days for defrauding the customers. District Magistrate Mukesh Bansal took action against the Mehta petrol pump at Station Chowk in Raigarh, which is an outlet of Bharat Petroleum Ltd, for short...
  • After raising LPG cylinder cap, government cuts CNG, PNG prices February 3, 2014

    New Delhi: The Union Ministry of Petroleum and Natural Gas on Monday announced a 20 per cent reduction in CNG prices in Delhi. While the CNG prices will be reduced by about Rs 15 per kg, the prices of piped natural gas will also be reduced by about Rs 5...
  • Delhi: HC asks Bharat Petroleum to vacate land for metro construction January 30, 2014

    New Delhi: The Delhi High Court on Thursday asked Bharat Petroleum Corporation Limited (BPCL) to vacate the land opposite Hyatt Hotel for construction of a metro station. While rejecting the plea moved by BPCL, seeking stay on construction of Bhikaji Cama Place metro station, a bench of Justice Manmohan said...
  • Kuwait Petroleum Corp keen to buy stake in ONGC petchem projects January 14, 2014

    Kuwait Petroleum Corp has shown interest in buying 26 per cent stake in ONGC's Rs 21,396 crore petrochemical plant at Dahej, Gujarat, as well as the stateowned firm's Rs 5,750 crore chemical plant at Mangalore. "Kuwait is keen on taking a stake in the petrochemical plants of ONGC... They have envisaged...
  • PSPB men and women in national table tennis finals January 8, 2014

    Petroleum Sports Promotion Board (PSPB) men and women entered the finals of the team championships underlining their supremacy yet again in the 75th Senior National Table Tennis Championships at the Patliputra Sports Complex in Patna onWednesday. All semifinals never rose to any dizzy height with a similar 30 score line as...
  • 75th national Table Tennis championship begins today at Pataliputra Sports Complex January 7, 2014

    Top paddlers of the country, includingSharath Kamal, Soumyajit Ghosh, K. Shamini, Mouma Das, NehaAgrawal will be seen in action in Patna in the 75th SeniorNational and InterState Table Tennis Championship at thePataliputra Sports Complex in Patna from Tuesday. About 600 players from 32 states and Union Territories(UTs), besides two institutional teams...
  • MPs caught lobbying for fake firm: Is this just the tip of the iceberg? December 12, 2013

    In its latest undercover investigation, codenamed operation Falcon Claw, investigative website Cobrapost has exposed a bunch of parliamentarians who are willing to not only write recommendation letters but also lobby with the Union Ministry of Petroleum for a foreign company to help it secure oil exploration and rigging rights in...
  • IOC tops Fortune India 500 list, RIL second December 10, 2013

    New Delhi: Staterun Indian Oil Corporation Ltd has emerged as the country's biggest company in terms of annual revenue, followed by Mukesh Ambaniled private sector giant Reliance Industries at the second place, as per an annual list of Fortune 500 companies in India. Th 2013 list of the country's 500 largest...
  • RBI in no rush to taper dollar window to oil firms: Rajan November 13, 2013

    Mumbai: The Reserve Bank of India (RBI) has allowed staterun oil companies to start purchasing dollars from markets but will not rush the process of tapering its dollars swap window to these companies, Governor Raghuram Rajan said on Wednesday. Rajan added the RBI will choose the most appropriate solution to settling...
  • Oil Ministry approves sale of 5kg LPG cylinders at petrol pumps November 4, 2013

    After the success of pilot programmes in five metro cities, Oil Minister M Veerappa Moily, on Monday, allowed the sale of 5kg 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, Kolkata,...
  • Petrol price cut by Rs 1.15 per litre, diesel hiked by Re 0.50 October 31, 2013

    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...
  • For many leaders, youth is the means to attain power, alleges Modi October 19, 2013

    Gujarat Chief Minister and BJP's prime ministerial candidate Narendra Modi,on Saturday, targeted Congress saying that for many leaders, youth is the means to attain power. "For many leaders, youth is a means to power but for me, youth is for empowerment," Modi said without naming anyone after Congress VicePresident Rahul Gandhi...
  • IOCL, BPCL, HPCL move SC for modification of Aadhaar order October 6, 2013

    Three oil PSUs have moved the Supreme Court seeking modification of its earlier order that Aadhaar card is not mandatory and no person should suffer for want of it in getting benefits of government schemes. IOCL, BPCL and HPCL would mention the matter on Monday for urgent hearing before a bench...
  • LPG cylinders to be available at petrol pumps in metro cities soon October 2, 2013

    Cooking gas (LPG) will now be available at select petrol pumps in metro cities after the Oil Ministry has allowed sale of small 5kg cylinders at retail outlets. It has also permitted LPG connection portability, allowing consumers to choose or change cooking gas dealer at press of a button, an official...
  • Cabinet nod for shale gas exploration on nomination basis September 24, 2013

    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 hydrocarbon resources particularly shale gas and oil in...
  • UP petroleum traders to observe bandh against commercial tax September 21, 2013

    Lucknow: Petroleum traders of Uttar Pradesh will observe a state-wide bandh on September 28 to press for their demand of reduction in commercial tax on petrol and diesel. This was announced on Saturday by the Uttar Pradesh Petroleum Traders Association, which has called for the strike. "The association has announced to...
  • Probe into HPCL fire case on as death toll reaches 25 September 6, 2013

    Visakhapatnam: With one more victim succumbing to his burns Friday, the death toll in last month's fire at the Hindustan Petroleum Corporation Limited's complex rose to 25. A probe is on into the accident, though prima facie a gas leak in the sea cooling water system was attributed to the fire. Appala...
  • Moily meets Chidambaram to discuss ways to cut oil import bill August 29, 2013

    With fall in rupee value and the Syrian crisis ballooning oil import bill, Petroleum Minister M Veerappa Moily on Thursday met Finance Minister P Chidambaram to discuss possible solutions including Rs 3-4 per litre hike in diesel prices and cut in duties. The over 20 per cent rupee depreciation this year...
  • Death toll in Visakhapatnam HPCL refinery fire mounts to nine August 26, 2013

    The death toll in the massive fire at state-run Hindustan Petroleum (HPCL) refinery-cum-petrochemical complex in Visakhapatnam has risen to nine with one more worker succumbing to burn injuries on Monday, a PSU official said. 50-year-old S Sanyasi Rao who was undergoing treatment at the Old Care hospital in Visakhapatnam died on Monday, the official...
  • Vizag HPCL fire: Employees go on strike demanding safety measures August 26, 2013

    Visakhapatnam: Two days after a fire broke out at the Vizag Hindustan Petroleum Corp refinery, employees have gone on a strike demanding better safety measures and compensation. One person was killed and 30 others were injured after a fire had engulfed an under-construction building in the Vizag plant. HPCL has...
  • HPCL refinery fire: Chandrababu Naidu demands high-level probe August 24, 2013

    TDP president N Chandrababu Naidu on Saturday demanded a high-level probe into the fire at state-run Hindustan Petroleum (HPCL) refinery complex in Visakhapatnam in which eight persons were killed. "A high-level expert committee should probe into the mishap," Naidu said after visiting the site on Saturday. He also visited various hospitals in...