The Oil Ministry has ordered the diversion of natural gas from industries to the city gas distribution sector to cool CNG and piped cooking gas prices that have shot up by 70% on the use of imported fuel. Less than three months after it ordered the use of costlier imported LNG to meet incremental demand […]
Category: Oil & Gas
RIL, Ola Electric, Rajesh Exports agree to make batteries in India
Reliance Industries, Softbank Group-backed Ola Electric and jewellery maker Rajesh Exports on Friday signed final agreements to build battery cells under a $2.3 billion government incentive programme.
Minister kicks of ethanol sale from Shahabad sugar mill
Cooperation Minister Banwari Lal today said measures were being taken by the government to strengthen the financial condition of cooperative sugar mills in the state. He was at Shahabad to kick off the sale of ethanol from the Shahabad Cooperative Sugar Mills Limited. A 60-KLPD (kilo litre per day) ethanol plant was started at the […]
Full cut-off of Russian gas a likely scenario, European Commission President Ursula von der Leyen says
A full cut-off of Russian gas flows to Europe is “a likely scenario”, European Commission President Ursula von der Leyen said on Wednesday as the EU executive proposed a voluntary target for member states to cut gas use by 15 per cent until March. “Russia is blackmailing us. Russia is using energy as a weapon. […]
Govt cuts windfall tax on fuel export, domestic crude oil
The government on Wednesday scrapped tax on the export of petrol and cut windfall taxes on overseas shipments of diesel and ATF and on domestically produced crude oil after global oil prices fell. While the Rs 6 a litre export duty on petrol was scrapped, the tax on the export of diesel and jet fuel […]
OPEC Secretary-General Mohammad Barkindo is dead, announce Nigerian officials
The Secretary-General of the Organization of Petroleum Exporting Countries has died, Nigerian authorities announced Wednesday. Mohammad Barkindo, 63, died late Tuesday, a spokesperson for Nigeria’s petroleum ministry told The Associated Press. The reason for his death was not immediately known. The Vienna-based oil cartel known as OPEC that he oversaw did not immediately comment.
Govt slaps export tax on petrol, diesel; windfall tax on domestic crude oil
The government on Friday slapped a Rs 6 per litre tax on exports of petrol and ATF and Rs 13 per litre on exports of diesel. The government also slapped a Rs 23,230 per tonne additional tax on domestically produced crude oil to take away windfall gains accruing to producers from high international oil prices, […]
Government limits LPG subsidy to Ujjwala beneficiaries
The government has limited subsidy on cooking gas (LPG) for only 9 crore poor women and other beneficiaries who got free connections under the Ujjwala scheme and the remaining users, including households, will pay the market price.
‘No purchase’ by petrol pump dealers on Tuesday to demand higher commission
A petrol pump dealers’ association will on Tuesday resort to ‘no purchase of petrol and diesel’ in protest against no increase in their commission by the oil marketing companies, but the protest is unlikely to disrupt supplies as fuel bunks have enough stocks to last couple of days.
ONGC reports highest net profit of Rs 40,306 crore; becomes India’s 2nd most profitable firm
On the back of the best-ever price it earned on crude oil it produces, state-owned Oil and Natural Gas Corporation (ONGC) reported a record net profit of Rs 40,305 crore in the fiscal year ended March 31, becoming India’s second most profitable company behind Reliance Industries Ltd.
Jet fuel price hiked by 3.22 per cent to record high; 9th increase this year
Jet fuel prices on Sunday were hiked by 3.22 per cent—the ninth straight increase this year—to an all-time high, reflecting a surge in global energy prices.
Sri Lanka’s state-run oil company raises fuel price amidst worst economic crisis
Sri Lanka’s state oil entity has raised its retail price from Monday midnight, a day after the Indian Oil Company’s local operation raised its prices, adding to the woes of the people who are impacted by the island nation’s worst economic crisis. The state-run Ceylon Petroleum Corporation’s (CPC) new price of 92 octane petrol at […]