Category: Oil & Gas

Delhi-based lender IFCI Ltd has moved the National Company Law Tribunal (NCLT) opposing the other lenders’ plans to sell Videocon Industries’ oil assets and consumer durable business separately. IFCI, which is one of the lenders of Videocon Industries, argues that while the debt of oil assets has been treated as Videocon Industries’ consolidated debt, the […]

Maximl, a Chennai-based startup that provides technology solutions to industries that empower deskless workers, is looking to expand to over a hundred global sites and over 20 countries by the end of this financial year, fueled by what it expects to be an 8 times growth from pre-Covid levels. The firm counts big names such […]

The price of a domestic (14.2 kilogram) Liquefied Petroleum Gas (LPG or cooking gas) cylinder was hiked by Rs 25 apiece on Tuesday. After the hike, a domestic cylinder would now cost Rs 859 apiece in the national capital. The price has been hiked in similar proportion across the country. This is the second consecutive […]

The Indian government has asked a federal court in Washington to dismiss Britain’s Cairn Energy suit seeking enforcement of a USD 1.2 billion arbitral award, saying it had sovereign immunity under US law. Cairn had in May asked a US federal court to force Air India to pay a USD 1.26 billion arbitration award the […]

LONDON (Reuters) -Oil prices fell by about 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world’s second-largest economy. Brent crude was down 58 cents, or 0.8%, at $70.01 a barrel by 0943 GMT. […]

The wholesale price-based inflation softened for the second straight month to 11.16 per cent in July on cheaper food items, even though prices of manufactured goods and crude oil hardened. However, WPI inflation remained in double digit for the third consecutive month in July, mainly due to a low base of last year. WPI inflation […]

Petrol and diesel prices in the country remained static for the 30th consecutive day on Monday. Accordingly, in the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre on Monday. Across the country as well, fuel prices […]

Indian fuel consumption recovery largely held up in the first half of August, a rare positive for oil demand as the delta virus variant led to curbs on movement in other Asian markets including China. Gasoline sales rose 3.7% in Aug. 1 to 15 from the same period in 2019, prior to the pandemic, according […]

Indian state fuel retailers’ gasoline and gasoil sales declined in the first fortnight of August from the same period last month, preliminary sales data showed. Gasoline sales at 985,820 tonnes between Aug 1-15 were 4.93% lower compared with those between July 1-15, while gasoil sales at 2.1 million tonnes were down 15.34%, the data showed.

URG COM ECO GEN NAT .NEWDELHI DEL50 BIZ-FM-RETRO-TAX FM says rules on retro tax to be framed soon New Delhi, Aug 16 (PT) Finance Minister Nirmala Sitharaman on Monday said the rules that will lead to scrapping of the retrospective tax demands made on companies such as Cairn Energy Plc and Vodafone Plc will be […]

Finance Minister Nirmala Sitharaman on Monday said the Centre had little room to cut excise duty on petrol and diesel because of the cost burden of the oil bonds issued by the previous United Progressive Alliance (UPA) government. “We don’t do so many tricks like the UPA government. They issued oil bonds for which the […]

Finance Minister Nirmala Sitharaman on Monday ruled out a cut in excise duty on petrol and diesel to ease prices, which have touched an all-time high, saying payments in lieu of past subsidised fuel pose limitations. Petrol and diesel as well as cooking gas and kerosene were sold at subsidised rates during the previous Congress-led […]