Category: Oil & Gas

NEW DELHI: Environment minister Prakash Javadekar on Monday informed Rajya Sabha that fuel conforming to stringent BS-VI emission norms has been introduced in the national capital to reduce air pollution. The minister also informed the Upper House that sale of BS-VI compliant vehicles would begin in the country from next year. “BS-VI compliant fuel is […]

Raniganj: Great Eastern Energy of Y K Modi Group has stopped supply of CNG to Asansol-Durgapur area following a rift with the drivers. GEECL along with Essar is the only two sources of green gas so far in Bengal. The company has said in a statement that the drivers have earlier illegally stopped the work […]

Nirmala Sitharaman’s proposal to hike the duty on petrol and diesel has kicked off a war of words between the Centre and Karnataka, after motor fuels have become dearer in the state by at least Rs 2.50. She sought to hike the special additional excise duty and road infrastructure cess by Rs 1/litre of petrol […]

NEW DELHI: The government on Friday announced easing of foreign direct investment rules for insurance intermediaries such as brokers and local sourcing norms for single-brand retail, a move that may encourage companies such as Apple to finally open stores in India. Besides, it announced a review of the norms to further open up FDI in […]

NEW DELHI: Nearly two decades ago, public buses, autos and taxis in Delhi had to switch to a cleaner fuel — from diesel to CNG — following a Supreme Court order. Once again, it is a direction by the apex court that is going to introduce a better fuel — Hydrogen-enriched CNG (HCNG) — in […]

NEW DELHI: The Economic Survey has held out hopes of ‘achche din (good times)’ returning for fuel consumers, predicting moderation in global oil prices in a throwback to 2014 when the Narendra Modi government first came to power. The report card for 2018-19, the culminating fiscal of the Modi government’s first term, expects demand concerns […]

NEW DELHI: Oil minister Dharmendra Pradhan on Friday expressed concern over developments in the Strait of Hormuz bumping up oil prices and sought Saudi Arabia’s active role in keeping oil prices at reasonable levels. Pradhan discussed the situation in the Persian Gulf with his Saudi counterpart Khalid Al-Falih over telephone. “Expressed concern on the developments […]

BENGALURU: With GAIL Gas pipeline network coming in the way of its alignment, Namma Metro’s Phase 2 project appears to have run into rough weather. Sources said Metro’s Gottigere-Nagawara, RV Road-Bommasandra, Silk Board-KR Puram and KR Puram- Kempegowda International Airport lines are likely to be delayed if GAIL Gas and Bangalore Metro Rail Corporation (BMRCL) […]

NEW DELHI: The Centre has virtually ruled out including petroleum products within the ambit of GST immediately, turning down repeated demands from the aviation sector and oil companies. Even the petroleum ministry had taken up cudgels for the sector that has been arguing that benefit of GST is not accruing to them as companies cannot […]

New Delhi, May 24 () Indraprastha Gas Ltd, which retails CNG to automobiles in the national capital and adjoining cities, Friday reported a 28 per cent rise in its March quarter net profit on the back of higher sales. Net profit in January-March rose to Rs 224.72 crore from Rs 175.33 crore in the year-ago […]

WASHINGTON: India has stopped importing oil from Iran after American waivers granted to eight buyers expired early this month, New Delhi’s envoy here has said, becoming the latest country to comply with the US sanctions on Tehran over its nuclear programme. The US reimposed sanctions on Iran in November after pulling out of a 2015 […]

NEW DELHI: India’s largest oil refiner and fuel retailer Indian Oil Corporation (IOC) on Friday posted a 17% rise in its fourth quarter net profit as inventory and forex gains made up for lower refinery margins. Net profit stood at Rs 6,099 crore, or Rs 6.5 per share, against Rs 5,218 crore, or Rs 5.5 […]