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Oil firms News

09 Oct 2017

Give private firms stake in ONGC fields: CEOs of oilcos to PM

Over a 3-hour long meeting, the CEOs also suggested including natural gas and electricity in the Goods and Services Tax (GST) regime to make these competitive.

Petrol pump operators

20 Apr 2017

Oil ministry slams petrol pump operators' move to close fuel outlets on Sundays

The petroleum ministry has denounced the decision of a section of petrol pump operators, mostly in South India, to keep outlets shut on Sundays, saying such a move will inconvenience the general public.

01 Jun 2016

Non-subsidised LPG price increased by Rs 21 per cylinder

Oil firms on Wednesday hiked prices of non-subsidised LPG, which consumers buy after exhausting their quota of 12, by Rs 21 per 14.2-kg bottle.

01 Mar 2016

ATF price hiked by 12%; non-subsidised LPG rate cut by Rs 61.5 per cylinder

Non-subsidised cooking gas (LPG) now costs Rs 513.50 in Delhi as against Rs 575 previously.

09 Jul 2015

Oil service firms jostle for India orders amid global spending cuts

State-run Oil and Natural Gas Corp (ONGC) plans to boost its capital spending by more than a fifth to 362.49 billion rupees ($5.7 billion), in stark contrast to analysts` forecasts for energy firms globally to cut spending by a fifth in 2015.

16 Jan 2015

Oil firms will decide on price revision: Pradhan

As per the practice of revising rates every fortnight, state fuel retailers were expected to announce a cut in petrol and diesel prices yesterday as global rates had fallen by about 4 percent. However, they skipped the revision.

30 Dec 2014

Oil firms face Rs 10,000 cr inventory loss, depreciating rupee

Indian Oil Corp (IOC) and other state-run fuel retailers have piled up inventory loss of over Rs 10,000 crore which together with depreciating rupee has severely strained their finances ahead of a revision in petrol and diesel prices.

20 Oct 2014

Govt to offload 5% stake in ONGC next month, may get Rs 18K cr

The government is likely to divest 5 percent stake in ONGC in the first week of November, which may fetch about Rs 18,000 crore to the exchequer, a top finance ministry official said today.

oil subsidy bill

15 Oct 2014

Govt oil subsidy bill to be cut by over 60% in FY15

With international oil prices dropping to multi-year lows, government's oil subsidy bill is likely to be slashed by over 60 percent in the current fiscal.

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