Ministers from the powerful OPEC group of oil producers got together again on Friday, a day after failing in a marathon meeting to agree on a fresh output reduction deal they hope would stem prices which have been under pressure from abundant reserves and weak global economic growth. Friday’s so-called OPEC+ meeting included Russia, the […]
Category: Oil & Gas
Maha withdraws cases against anti-Nanar refinery activists
Within 24 hours after it announced withdrawal of cases filed against activists who had protested against felling of trees at Aarey Colony, the Maha Vikas Aghadi (MVA) Government on Monday evening withdrew all cases filed against protesters who had opposed the proposed oil refinery and petrochemicals complex at Nanar in Rajapur taluka of Ratnagiri district. […]
Govt says no proposal to reduce taxes on petrol, diesel
The Government on Monday said there is no proposal to reduce taxes on petrol and diesel. Finance Minister Nirmala Sitharaman told the Lok Sabha that no where in the world do the prices of petrol and diesel remain steady for a particular period of time. To a query on whether petrol and diesel would be […]
Petrol prices rise, diesel stable
Petrol prices in the country increased for the second consecutive day on Saturday whereas diesel prices remained unchanged. The crude oil prices in the international market edged lower by $3 a barrel in the last week. Petrol has become costlier by five paise per litre in Delhi, Kolkata and Mumbai and by six paise in […]
GAIL introduces payment options for domestic PNG connections
GAIL Gas Limited has introduced various pocket friendly payment options for obtaining domestic PNG connections and has also negated the registration fee charges. These payment options will help prospective customers belonging to various income groups to opt for PNG as the fuel of their kitchen. According to officials, the company has provided flexibility through these […]
Carmakers should focus on alternative fuel vehicles: Gadkari
Terming huge crude oil import a “big economic challenge” for the country, Union Minister Nitin Gadkari on Wednesday urged automakers to focus on alternative fuel vehicles as well and ensured Government’s support in the venture. Gadkari also stressed the need for diversifying agriculture towards power and energy to meet the goal of bio-fuel generation. “I […]
RIL becomes first Indian firm to hit Rs 10 lakh cr m-cap mark
Reliance Industries on Thursday became the first Indian company to hit the Rs 10 lakh crore market valuation level. The oil-to-telecom conglomerate’s market capitalisation (m-cap) zoomed to Rs 10.02 lakh crore during morning trade on the BSE. The company’s stock rose 0.73 per cent to a record peak of Rs 1,581.25 (intra-day) on the index.
Min 100 petrol pumps, 5% in remote areas: India’s new liberalised fuel retail policy
India’s new liberalised petrol pump norms require licensees to set up a minimum of 100 outlets with at least 5 per cent of them in remote areas. According to a Gazette notification detailing the norms for setting up petrol pumps, the licensee would also be required to “install facilities for marketing at least one new […]
SDMC to install five tonne bio-gas plant at Waste to Wonder Park
South Delhi Municipal Corporation (SDMC) has decided to install five tonne bio-gas waste to energy plant at ‘Waste to Wonder Park’ to produce energy by using waste. The civic body has also entered into an agreement with ‘Security Printing and Minting India Limited’ (SPMIL). Bio-gas typically refers to a mixture of different gases produced by […]
Moody’s reviews BPCL’s rating for downgrade on govt stake sale
Moody’s Investors Service on Tuesday said it has placed Bharat Petroleum Corp Ltd’s rating on review for downgrade after the government decided to privatise the country’s second-biggest state oil refiner. “The review for downgrade follows the government of India’s decision to sell its entire 53.29 per cent stake in BPCL and to transfer management control […]
319 non-PNG industrial units shut: DPCC
The Delhi Pollution Control Committee (DPCC) on Saturday said it had shut down 319 non-PNG industrial units and issued challans totalling Rs 49 lakh to polluting vehicles in the national Capital since November 16. “Environmental Compensation of Rs 49 lakh has been imposed on 63 visibly polluting vehicles till November 23. The vehicles have been […]
BPCL, SCI shares hit 52-week high after privatisation move; pares gain later
Shares of Bharat Petroleum Corp Ltd (BPCL), Shipping Corp of India (SCI) and Container Corp of India (Concor) showed mixed trend on Thursday after the Cabinet approved sale of government’s stake in these companies. BPCL which opened the day 0.92 per cent higher at Rs 549.70 — its 52-week high — later erased the gains […]