Heena Gambhir | Tuesday October 21, 2014
Oil Minister Dharmendra Pradhan said in an interview to NDTV that the move to deregulate diesel prices is a "well thought decision" and the markets are appreciating it. He also said that as the world is seeing some stability in oil prices, it is the ...
Wednesday October 15, 2014
With international oil prices dropping to multi-year lows, government's oil subsidy bill is likely to be slashed by over 60 per cent in the current fiscal year.
Friday October 10, 2014
A Rs 2.50 per litre cut in diesel prices and a little less than Re 1 a litre on petrol is in offing as international oil rates fell to a 27-month low. Prices may be cut after Maharashtra and Haryana assembly elections are completed on October 15.
Tuesday September 2, 2014
Global rating agency Moody's Investors Service has said the Oil Ministry's plan to divide fuel subsidies equally between the government and the two state-owned upstream oil and gas producers namely ONGC and Oil India, is credit positive for both comp...
Monday August 11, 2014
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like ONGC.
Thursday July 31, 2014
The Oil Ministry has fixed the subsidy payout by upstream firms like Oil and Natural Gas Corp (ONGC) and Oil India Ltd at Rs 15,546.65 crore for the April-June quarter.
Reuters | Saturday July 19, 2014
Japan will offer at least 2 million yen ($19,700) in subsidies for fuel-cell vehicles, Prime Minister Shinzo Abe said.
Tuesday July 8, 2014
Global rating agency Fitch has said the regular increase in diesel price to align it with market will lead to a 25 per cent fall in fuel under-recoveries this fiscal year at about Rs 1 lakh crore.
World | Agence France-Presse | Saturday July 5, 2014
Egypt has drastically raised fuel prices overnight to tackle a bloated subsidy system, in a potentially unpopular move that might blow back on newly elected President Abdel Fattah al-Sisi.
Friday July 4, 2014
The Oil Ministry is likely to move the Cabinet Committee on Political Affairs (CCPA) soon with an expert panels recommendations of raising kerosene price by Rs 4 per litre and cooking gas (LPG) rates by Rs 250 per cylinder.
Wednesday July 2, 2014
Diesel prices are likely to be completely deregulated over the next 12 months as monthly increases in the price bridge the gap between cost and retail price, rating agency Moody's said on Wednesday.
Wednesday July 2, 2014
Rating agency Moody's expects the government to reduce its fuel subsidy bill through a gradual process that in turn will lead to higher product prices and prove credit positive for oil marketing companies.
Wednesday June 18, 2014
With sale of branded or premium petrol and diesel falling to almost nil due to high duties, a government appointed expert panel has recommended slashing excise duty to make them at par with regular fuel.
Tuesday June 3, 2014
State-owned Oil and Natural Gas Corp (ONGC) has paid a whopping Rs 272,721 crore in fuel subsidy over the past 11 years, denting its profitability.
Thursday May 29, 2014
The monthly diesel price hikes of 40-50 paise per litre are likely to continue as the new government is keen to cut the subsidy bill, a top Oil Ministry official has said.
Wednesday May 28, 2014
HPCL Chairman and Managing Director Nishi Vasudeva said the Q4 profit is not comparable as last year the government released a backlog fuel subsidy.
Thursday May 22, 2014
India has ordered oil companies to provide $11.4 billion (Rs 67,003.5 crore at 1 dollar = 58.7750 rupees) subsidy for 2013-14 to help cover losses of state retailers that sell fuels at cheaper rates - a jump of 12 per cent from the previous year, a s...
Monday May 19, 2014
While the oil ministry had sought Rs 35,000 crore subsidy for the January-March quarter of 2013-14 fiscal, the finance ministry has given a letters of comfort for Rs 11,000 crore.
Monday February 17, 2014
He estimated combined food, fertiliser and fuel subsidies at Rs 2.5 lakh crore in 2014/15.
Tuesday January 28, 2014
Oil and gas producers ONGC and Oil India Ltd bear a portion of the losses that fuel retailers incur on selling some fuels at subsidised rates. The government also offers the oil refiners a cash subsidy as compensation.