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



Last Build Date: Wed, 01 Mar 2017 19:49:27 GMT

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LPG prices raised by Rs 86, steepest hike in India's history

Wed, 01 Mar 2017 16:59:21 GMT

(image) Non-subsidised LPG, bought by those who have either given up their subsidies or exhausted the quota of 12 bottles a year, will now cost Rs 737.50.



Dharmendra Pradhan to showcase India's oil, gas field discoveries in US

Wed, 01 Mar 2017 08:38:55 GMT

(image) Pradhan and Russia's energy minister Alexander Novak will be among those to address the international gathering of industry, policy and financial leaders at CERA Week 2017.



'Government looking at creating 2-3 integrated oil, gas units'

Wed, 01 Mar 2017 07:33:55 GMT

(image) Following Finance Minister Arun Jaitley's budget proposal in February of a merger, reports said explorer ONGC may acquire state-run fuel refiner HPCL for about Rs 44,000 crore.



Sanjiv Singh appointed IOCL chief

Tue, 28 Feb 2017 14:44:23 GMT

(image) Singh was selected for the top job after government headhunters Public Enterprise Selection Board (PESB) interviewed eight candidates.



Government bails out ONGC, Oil India of Rs 22,000 crore royalty liability

Tue, 28 Feb 2017 10:23:11 GMT

(image) ONGC sold crude oil to PSU refiners at a discount since 2003-04 on government directive so as to help partly subsidise petrol, diesel, LPG and kerosene price.



Government to formulate policies on ethanol, methanol: Nitin Gadkari

Mon, 27 Feb 2017 12:04:13 GMT

(image) Dharmendra Pradhan, among others, Gadkari said this will also create an industry worth Rs 1 lakh crore and provide employment to around 25 lakh youths.



Odisha government withdraws tax sops to IOC's Rs 34,555-crore Paradip refinery

Sun, 26 Feb 2017 19:57:19 GMT

(image) The withdrawal will cost Rs 2,000 crore to IOC this year and will progressively increase every year as more petrol, diesel and petrochemicals are sold within the state.



Banks still levying card fee on fuel purchases

Sun, 26 Feb 2017 19:51:16 GMT

(image) Several inconvenienced customers have written to the oil ministry in the past few weeks regarding this illegal deduction, an oil ministry official said.



ONGC set to create energy giant with control of HPCL

Sun, 26 Feb 2017 19:42:00 GMT

(image) The government of India will transfer its majority shareholding (of 51.11% in HPCL) to ONGC, which will then become the holding company of HPCL.



L&T expects pick up in oil sector orders in 2 years

Sun, 26 Feb 2017 07:50:44 GMT

(image) Also, the wholly-owned subsidiary of engineering giant Larsen & Toubro expects international markets to contribute nearly 60 per cent of its orders in the next two years.



ONGC board approves pact to acquire GSPC stake for $1.2 bn

Fri, 24 Feb 2017 10:33:34 GMT

(image) Besides the payout to GSPC, ONGC will have to pay for the entire development cost of the six discoveries which may run into at least a couple of billion dollars.



ONGC to invest Rs 7,300cr on Ratna R-series fields, 4 other projects

Thu, 23 Feb 2017 14:19:39 GMT

(image) ONGC expects these fields to begin producing by 2018-19 and touch a peak of 14,583 barrels of oil per day a year later.



ONGC to invest Rs 7300 crore to develop five projects

Thu, 23 Feb 2017 13:29:15 GMT

(image) Most of this investment would go into developing the R-Series fields, off India's west coast, that can produce 8.39 million tonnes of oil and 1.696 BCM of gas.



India can be much larger producer, consumer of natural gas: US Congress report

Thu, 23 Feb 2017 11:35:51 GMT

(image) The report noted that India could see greater demand for energy with its population expected to be around 1.4 billion people by 2022



Petroleum and Natural Gas Regulatory Board becomes dysfunctional due to lack of replacements for retiring members

Wed, 22 Feb 2017 19:35:34 GMT

(image) The board's Chairperson S Krishnan retired in August 2015 while three other members—PK Bishnoi, Kiran Kumar Jha and Subhash Chandra Batra (member-legal) —have retired in the past six months.