As a part of the initiative to make households smokeless, the government has set an ambitious target of providing free LPG connections to five lakh families in the selected villages of West Bengal. Under Gram Swaraj Abhiyan, the public sector company IOCL will handover deposit free LPG connections to 5 lakh families across 7,364 villages […]
Day: July 6, 2018
Asian refiners hunt for oil supplies amid trade war, looming Iran sanctions
Asian oil refiners are racing to secure crude supplies in anticipation of an escalating trade war between the United States and China, and as Washington plans tough sanctions against Iran aimed at shutting the country out of oil markets. As part of a wave of retaliation for Friday’s US tariffs, China has threatened a 25 […]
Oil slips towards $77 as Saudi boost, trade tensions weigh
Oil slipped towards $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, although oil supply disruptions lent support. Top exporter Saudi Arabia told OPEC it raised oil output by almost 500,000 barrels per day last month, OPEC sources said, a sign Riyadh wants to […]
Fitch affirms HMEL’s default rating, sees no support from GOI, ONGC
Fitch Ratings on Friday affirmed HPCL-Mittal Energy’s (HMEL)’s long-term Issuer Default Rating (IDR) at ‘BB’, stating it expects neither HMEL’s parent, Oil and Natural Gas Corporation (ONGC) nor the Indian government to ultimately support HMEL. “HMEL’s IDR is capped at HPCL’s standalone credit profile of ‘BB’ as we do not believe that HMEL’s parent, Oil […]
Petroleum products to be brought under GST in stages, says Finance Secretary Hasmukh Adhia
Finance Secretary Hasmukh Adhia on Friday said the all-powerful GST Council will consider bringing petroleum products under Goods and Services Tax (GST) and it could happen in phases. Speaking on the issue, Central Board of Indirect Taxes and Customs Chairman S Ramesh said although there is demand for bringing petroleum products under GST, the GST […]
Boeing’s big challenge to Airbus: Strikes aircraft deal with Brazil’s Embraer
Boeing Co. is forming a $4.75 billion venture with long-time industrial partner Embraer SA, a move that will bolster its arsenal in the newest battlefront with Airbus SE: the market for smaller jetliners. Under a preliminary deal, Boeing will own 80 percent of a partnership controlling Embraer’s commercial airplane and services businesses while the Brazilian […]