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Oil & Gas-Energy-Industry-The Economic Times



The Economic Times: Latest business, finance, markets, stocks, company news from India.



Last Build Date: Sat, 03 Dec 2016 19:58:28 GMT

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CNG price hiked by Rs 1.85/kg

Sat, 03 Dec 2016 16:58:39 GMT

(image) IGL will continue to offer a discount of Rs 1.50 per kg in the selling prices of CNG for filling between 12.30 am to 5.30 am at select outlets.



Crude jump: Subsidies unlikely to overshoot budget estimate

Fri, 02 Dec 2016 14:55:33 GMT

(image) Similarly, impact of higher crude prices on the fiscal position may also be limited next fiscal year because GURs will not increase significantly as there are regular fortnightly hikes in prices of subsidised LPG and kerosene.



ATF price cut by 3.7%, LPG hiked by Rs 2 per cylinder

Thu, 01 Dec 2016 19:54:04 GMT

(image) This is the seventh increase in price since July when the government decided to go in for a small hikes of up to Rs 2 per bottle every month to cut down its subsidy outgo.



CCI approves Rosneft buyout of Essar Oil

Thu, 01 Dec 2016 13:44:03 GMT

(image) As earlier reported in the ET, this deal will see the Essar Group cutting their Rs 1.25-1.3 lakh crore group-wide debt by more than half.



India invites global bids for filling strategic oil storage

Wed, 30 Nov 2016 16:06:39 GMT

(image) India has built three underground oil storages at Vishakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka.



Petrol price up by Rs 0.13 per litre, diesel price decreased by Rs 0.12 per litre

Wed, 30 Nov 2016 13:14:06 GMT

(image) Movement of prices in the international oil market and the exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.



Fitch: India's fuel demand to benefit refiners, E&P to stay weak

Wed, 30 Nov 2016 12:30:09 GMT

(image) Fitch also expects gross refining margins (GRM) of all Indian oil refiners to narrow in 2017, while remaining stronger than the historical levels prior to FY16.



Oil cos profitability to remain weak in 2017: Fitch

Wed, 30 Nov 2016 12:17:21 GMT

(image) Stating that it did not expect any major improvement in profitability at Oil India Ltd and upstream operations of Reliance Industries Ltd, it said that most domestic gas fields are likely to make losses in 2017.



India to invest $20 billion in gas fields in next 5-7 years: Dharmendra Pradhan

Wed, 30 Nov 2016 08:33:16 GMT

(image) "India presently consumes 120 mscmd of gas, 60 per cent of which goes to the power and fertiliser sectors. We plan to double consumption in the next five years to 240 mscmd," Pradhan said.



Sell domestic LPG only to PSU oil firms: Government to producers

Tue, 29 Nov 2016 10:25:53 GMT

(image) The Ministry of Petroleum and Natural Gas, in an order issued this month, stated that "sale of indigenously produced LPG is not permitted to the entities other than government oil companies."



Competition Appellate Tribunal has allowed appeal against earlier order into GAIL India

Mon, 28 Nov 2016 14:01:46 GMT

(image) tribunal directed the director general (DG) of the commission to investigate the initial complaints and specified that, the impugned order is set aside.



Gujarat seeks Rs 6,600 crore from Centre for GSPL gas projects

Mon, 28 Nov 2016 10:13:54 GMT

(image) In a written reply to a question in Lok Sabha, he said oil regulator PNGRB has granted time extension for completion of the two projects up to December, 2017.



Gail’s Rs 12,940 crore project hits regulatory hurdle

Sun, 27 Nov 2016 19:06:54 GMT

(image) It is also proposed to supply gas under the Rs18,000 crore Hindustan Urvarak Rasayan projects that Prime Minister Narendra Modi has promised.



RIL seeks access to India's longest LPG pipeline by Indian Oil Corporation

Sun, 27 Nov 2016 07:56:25 GMT

(image) RIL said it is "interested in meeting its own demand in the geographical areas that is serviced by this pipeline and seeks capacity access in the pipeline."



L&T Hydrocarbon Engineering to execute deep water project for ONGC

Fri, 25 Nov 2016 16:21:54 GMT

(image) The contract was part of ONGC's integrated development of Deep Water Vashishta and S1 fields taken on the Eastern coast.