Profit on diesel swells to Rs 1.90 a litre
Profit on sale of diesel swelled to Rs 1.90 per litre as oil ministry awaits return of Prime Minister Narendra Modi to cut rates.
Oct 01, 2014, 17:29 PM IST
India's older refineries to face survival test on diesel deregulation
The government may soon deregulate the diesel market so that it no longer needs to subsidise state-run refiners for selling the fuel at below-market prices.
Sep 26, 2014, 10:07 AM IST
Cabinet postpones decision on revision in gas prices till Nov 15
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday postponed decision on revision in gas prices till November 15 amidst sharp difference between the oil ministry and power ministry over the quantum of increase.
Sep 24, 2014, 12:53 PM IST
Govt has narrow window for gas price as deadline looms large
The government has a narrow window of one day to approve a new gas pricing mechanism to meet its own deadline of announcing a new rate.
Sep 23, 2014, 19:43 PM IST
Oil companies hold 35 paise cut in diesel, 55 paise hike in petrol
Diesel rates were last cut on January 29, 2009 when they were reduced by Rs 2 a litre to Rs 30.86.
Sep 16, 2014, 13:13 PM IST
Gas pricing: Panel to submit report on new formula by Wednesday
A four-member panel of secretaries will submit its report on a new gas pricing mechanism by Wednesday, Oil Secretary Saurabh Chandra said Monday.
Sep 08, 2014, 18:33 PM IST
Diesel deregulation: Oil Ministry yet to move Cabinet
As the fall in international oil rates brings domestic diesel retail price at par with cost, the Oil Ministry has not yet moved Cabinet for deregulation of the nation's most consumed fuel.
Sep 08, 2014, 18:25 PM IST
Oil Ministry frustrated KG gas project: ONGC
As Oil Ministry looks into reasons for delay in ONGC's KG basin gas development, the state-owned firm says it lost three years because the ministry and DGH refused to approve its partnership with Norway's Statoil and Petrobras of Brazil for the block.
Sep 01, 2014, 20:29 PM IST
FAI pitches for continuing with 2007 gas price formula
At USD 100 per barrel oil price, the gas price, using this formula, will come to less than USD 5 per mmBtu.
Aug 29, 2014, 18:14 PM IST
Oil Ministry to seek Cabinet nod on diesel deregulation
Oil Ministry will seek Cabinet nod for freeing diesel prices after retail rates achieve parity with global levels, and has proposed to cut subsidy payout by upstream firm like ONGC by half.
Aug 26, 2014, 17:56 PM IST
Oil ministry to seek Cabinet nod on diesel deregulation: Sources
Oil Ministry will approach Cabinet regarding the possible deregulation of domestic diesel pricing as local prices could soon reach parity with global levels, two ministry sources have said.
Aug 22, 2014, 23:21 PM IST
Secretaries panel to review gas price formula
Nearly two months after it put off a steep gas price revision, the government has constituted a four-member committee of secretaries to hold consultations with stakeholders before deciding on the quantum of hike.
Aug 22, 2014, 18:03 PM IST
Oil Ministry wants revenue sharing for future oil contracts
Seeking to revive interest in oil and gas exploration by simplifying rules, the Oil Ministry is looking at replacing the controversial Production Sharing Contracts (PSC) with simpler revenue-sharing regime.
Aug 21, 2014, 18:04 PM IST
Setback to OilMin: GAIL, CPCL refuse to comply with KG-D6 order
GAIL and CPCL have expressed their inability to deduct USD 115 million from the amount due to Reliance Industries.
Aug 19, 2014, 16:26 PM IST
OilMin rebukes ONGC for making "frivolous allegations"
ONGC had on May 15 filed a petition in the Delhi High Court alleging that RIL may have drawn natural gas worth thousands of crores of rupees from its fields that sit next to Mukesh Ambani-run firm's KG-D6 block Krishna Godavari basin.
Aug 18, 2014, 19:41 PM IST
OilMin says negligence caused fire at GAIL pipeline in Andhra
The Petroleum Ministry has blamed negligence for causing the devastating fire at state-owned gas transporter GAIL India Ltd's gas pipeline in Andhra Pradesh that killed 22 people.
Aug 17, 2014, 22:59 PM IST
RIL marked all correspondence with Oil Min, DGH
Reliance Industries had marked all copies of its correspondence with the Supreme Court-appointed Tribunal on KG-D6 cost recovery issue to the Oil Ministry and its technical arm DGH.
Aug 07, 2014, 18:49 PM IST
DGH rejects ONGC's three KG gas discoveries
Sources said the ministry feels that taking away the discoveries and rebidding the finds may lead to delay in development. Also, the move may attract legal challenge.
Aug 03, 2014, 13:07 PM IST
Oil Ministry wants RIL to sell gas at $4.2; $6-6.5 price for others
The new rates were to apply for gas from currently producing MA field in the same KG-D6 block as the government had accepted geological reasons forwarded by RIL for its output lagging targets.
Aug 03, 2014, 11:31 AM IST
Oil Min proposes gas price of $6-6.5 per unit, RIL may be denied new price
More than a month after it deferred a decision on raising natural gas prices, the Government on Friday said it has not taken a final decision on the issue yet.
Aug 02, 2014, 10:24 AM IST
