MUMBAI: Petrol price in Maharashtra once again crossed the Rs 80 mark with the price in Parbhani hitting Rs 80.06 a litre on Sunday. Diesel also crossed the Rs 70 mark. The petrol rate in Mumbai was Rs 78.03, while diesel price was Rs 70.76 per litre. The price of petrol in Nanded and Nandurbar […]
Day: March 11, 2019
Oil rises on OPEC-led supply cuts, but slowing economy restricts gains
Brent crude futures were at $65.91 per barre, up 17 cents, or 0.3 per cent Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall in the United States (US) drilling activity. US West […]
Oil drops by over 1% as economic outlook weakens, US supply surges
Oil prices dropped by more than one per cent on Friday as clouds gathered over the global economy after the European Central Bank (ECB) warned of continued weakness and fresh data showed Chinese exports and imports slumped last month. With surging US supply also unsettling markets, international benchmark Brent crude futures were at $65.42 per […]
As petrol prices spike before polls, Pradhan seeks Saudi help to cool rates
Both ministers also discussed about the possible adverse impact of recent geopolitical developments on global oil market With oil prices on the boil just as general elections are announced, Oil Minister Dharmendra Pradhan has asked world’s largest oil exporter Saudi Arabia to play an active role in keeping rates at a reasonable level. Petrol and […]
Saudi oil minister makes 2nd visit to India in less than 3 weeks
Al-Falih last visited India on February 20 as part of the high-level delegation that travelled with Saudi Crown Prince Mohammed bin Salman for a bilateral visit. Saudi Oil Minister Khalid al-Falih is making his second visit to India in less than three weeks to attend the wedding of richest Indian Mukesh Ambani’s son Akash. Akash […]
Pradhan red flags higher crude oil prices to Saudi Arabia
India raised concerns about the rising price of crude oil during a meeting with Khalid A Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia, and Chairman of Saudi Aramco. An official statement said Dharmendra Pradhan, Minister for Petroleum and Natural Gas, raised concerns about the rising trend in global crude oil prices […]
Saudi’s Falih says no OPEC+ output policy change until June
Saudi oil minister Khalid al-Falih said on Sunday it would be too early to change OPEC+ output policy at the group’s meeting in April and that China and the US would lead healthy global demand for oil this year. The Organisation of the Petroleum Exporting Countries and its allies such as Russia — known as […]
Over 7-cr LPG connections given under Ujjwala scheme
The Centre has disbursed over seven crore LPG connections under the Pradhan Mantri Ujjwala Yojana (PMUY). An official statement said the target has been achieved within 34 months of the scheme’s launch. “Nearly 69,000 connections are being released per day. There has been huge jump in the LPG coverage in the country, having gone up […]
Microwave ovens, washing machines to have energy efficiency rankings
After air-conditioners and refrigerators, consumers can now chose washing machines and microwave ovens based on their energy efficiency rankings. This has been made possible after the Star Labelling Programmes, formulated by Bureau of Energy Efficiency (BEE), has been expanded to now include these two home appliance products. An official statement said, initially, the programme for […]
If a firm got a stressed power asset at discount, it must cut tariff: UPERC
Adding a new twist to the ongoing sale of stressed power assets, the Uttar Pradesh Electricity Regulatory Commission (UPERC) has taken a view that if a bidder acquires assets at a discount then it must pass on the benefit to customers by reducing power tariffs. Renascent Power Ventures, an arm of Tata Power-backed Resurgent Power […]
Sebi seeks powers to grant immunity, impose lesser penalty in lieu of assistance in probe
New Delhi, Mar 10 () With an aim to bolster its information-gathering mechanism and fast-track its probe, market regulator Sebi has sought direct powers to grant immunity in select cases and to impose lesser penalty if the accused agrees to provide assistance against other wrongdoers. In two separate proposals for the government, the Securities and […]
SpiceJet announces 8 flights under UDAN-3 to Gwalior
PUNE: SpiceJet has announced the launch of eight new daily direct flights to Gwalior in Madhya Pradesh. The city, which was bagged by SpiceJet under UDAN III, will be the airline’s 11th destination under the regional connectivity scheme, airline officials said. In addition to the eight new flights to Gwalior, SpiceJet has also announced four […]