Mumbai, Jan 17
The oil and gas industry awaits strong subsidy reduction measures amidst indications that the Government is seriously considering various options in this regard.
Abhinav Goel, senior dire...
New Delhi, Jan 9
Pressure is mounting on the Government to raise the retail price of subsidised domestic LPG, diesel and kerosene. There is a strong buzz in the Petroleum and Natural Gas Ministry that if...
Mumbai, Dec 28
Oil stocks on Friday rose by as much as 4.2 per cent on hopes of a gradual hike in fuel prices, pushing the benchmark Sensex 121 points higher.Shares of HPCL soared 4.23 per cent to Rs 292....
New Delhi, Dec 9
Consumption of diesel in Delhi has surged by 15 per cent while that of petrol went down by nearly 1.5 per cent in 2011-12 compared to the year before, reflecting a growing preference for diesel ca...
New Delhi, Sept 7
The Minister of Petroleum & Natural Gas, S. Jaipal Reddy, has ruled out an immediate hike in fuel prices now. An official statement issued here said that the Minister said this at the sideline...
Mumbai, Aug. 21
Aligning domestic fuel prices with international prices is critical to rein in subsidies and strengthen the country’s energy security, according to Crisil Research.
With the losses incurr...
New Delhi, Aug 9
Reeling under pressure because of widening gap between the domestic and global prices of petroleum products, Indian Oil Corporation says its time Government took a decision.
Kolkata, June 29
Subsidies on fuel and fertilisers need to be reduced “at the earliest”, Dr C. Rangarajan, Chairman of the Prime Minister's Economic Advisory Council, said here on Friday.
He was speaking...
New Delhi, Jan 25
India has cut its forecast for fuel consumption by about 1 per cent to 155.63 million tonnes in the current fiscal, mirroring slowdown in the economy.Oil Ministry’s Petroleum Planning &...
New Delhi, Jan 16
The government is “seriously” considering revising rates of auto and cooking fuels but no decision has been taken as yet, Oil Minister M Veerappa Moily said today.“All price hike or price r...
Mumbai, Dec. 28
HPCL gains the most; IOC up 3 per cent
New Delhi, Dec 28
Auto industry body SIAM on Friday welcomed Kelkar panel’s recommendations to the Oil Ministry for hiking diesel prices, saying it will help the sector and economy in the long run.“Though th...
Ranchi, Oct 2
The Jharkhand government has reduced value added tax (VAT) on kerosene from five per cent to two per cent, while the VAT on tobacco products has been increased from 14 per cent to 20 per cent, off...
Mumbai, Aug 29
The Maharashtra Government has received the Centre’s approval for giving cash subsidy in lieu of kerosene quota through public distribution network, Food and Civil Supplies Minister Anil Deshmukh...
New Delhi, Aug. 20
Delhi will soon become the first kerosene-free city in the country with the Delhi Government set to launch an ambitious scheme tomorrow under which 3.56 lakh households will get an LPG cylinder an...
New Delhi, June 30
The Commerce and Industry Ministry has initiated an internal exercise to find out the reasons behind the goof up in the eight core sector growth data for May, which was revised within hours of the...
New Delhi, June 16
A paper detailing the roadmap for decontrol of diesel prices is in the works and is likely to be ready by next week, Dr Kaushik Basu, Chief Economic Advisor to the Finance Ministry, h...