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'Oil Minister' - 472 News Result(s)

  • Oil Ministry Says $5.6 Billion Production Loss at Panna-Mukta, Tapti Fields: Report

    Oil Ministry Says $5.6 Billion Production Loss at Panna-Mukta, Tapti Fields: Report

    The Oil Ministry has informed the Prime Minister's Office (PMO) that a consortium-led by BG Group had caused a production loss of $5.6 billion in western offshore Panna/Mukta and Tapti oil and gas fields by not completing a committed work programme.

  • Aadhaar Not Mandatory for LPG Subsidy: Oil Minister

    Aadhaar Not Mandatory for LPG Subsidy: Oil Minister

    The government on Monday made it clear that Aadhaar number was not mandatory for transfer of subsidy amount of LPG cylinder and the option of providing a bank account is also available under the Direct Benefit Transfer of LPG (DBTL).

  • Nikkei Falls as Oil Slump Sours Mood, Abe Win Offers Little Respite

    Nikkei Falls as Oil Slump Sours Mood, Abe Win Offers Little Respite

    Japanese stocks fell on Monday after slumping oil prices toppled Wall Street shares, while investors drew little comfort from Prime Minister Shinzo Abe's landslide win in a snap election over the weekend.

  • Government to Reap $12 Billion-Plus Budget Windfall From Oil Slide: Report

    Government to Reap $12 Billion-Plus Budget Windfall From Oil Slide: Report

    A plunge of nearly half in oil prices could help Finance Minister Arun Jaitley reap a fiscal windfall of at least $12 billion (Rs 74,244 crore at 1 dollar = 61.8700 rupees) when he presents his Budget for 2015-16 in February, two government sources t...

  • Oil Slips Towards $64, Oversupply Weighs

    Oil Slips Towards $64, Oversupply Weighs

    Crude prices sank on Wednesday as OPEC forecast an increasing supply surplus in 2015, US crude inventories unexpectedly rose and OPEC's most influential voice, Saudi Arabia's oil minister, shrugged off the need for an output cut.

  • Oil Edges Up Toward $65, Traders See More Downside

    Oil Edges Up Toward $65, Traders See More Downside

    Comments by the Saudi Arabian oil minister shrugging off an output cut on Wednesday renewed worries of a global glut that has slashed oil prices by more than 40 per cent since June.

  • Oil Crashes 5 Per Cent; Near $60 on Weak US Demand, Saudi Inaction

    Oil Crashes 5 Per Cent; Near $60 on Weak US Demand, Saudi Inaction

    Oil prices tumbled 5 per cent on Wednesday, pushing US crude to five-year lows near $60 per barrel after data showed a spike in American inventories and Saudi Arabia's oil minister reiterated that he had no plans to cut output.

  • Vigilance Commission Refers Cases of Winsome Group, Biotor to CBI: Arun Jaitley

    Vigilance Commission Refers Cases of Winsome Group, Biotor to CBI: Arun Jaitley

    The CBI is looking into case of cheating and fraud against directors of Biotor Industries, manufacturer of castor oil, for allegedly submitting forged documents to three banks -- Bank of Maharashtra, Oriental Bank of Commerce and Central Bank of Indi...

  • Hike in Excise Duty Aimed to Meet Budget Deficit: Oil Minister

    Hike in Excise Duty Aimed to Meet Budget Deficit: Oil Minister

    A day after the government hiked excise duty on petrol and diesel for the second time in three weeks, Oil Minister Dharmendra Pradhan on Wednesday said the move was meant to shore up revenue to meet budget deficit without burdening the consumer.

  • ONGC's Subsidy Sharing Structure May Be Reviewed: Oil Minister

    ONGC's Subsidy Sharing Structure May Be Reviewed: Oil Minister

    Any move to lessen its discount burden will be favoured by investors as the government plans to sell a 5 per cent stake, worth about $2.5 billion, in ONGC as part of its divestment programme.

  • Iraqi and Kurdish Governments Agree to Oil Deal

    Iraqi and Kurdish Governments Agree to Oil Deal

    Iraq's Finance Minister Hoshyar Zebari says the Central Government has reached an agreement in a long-standing oil dispute with the semi-autonomous Kurdish regional government.

  • ONGC Targets Production from KG-D5 Block By 2018

    ONGC Targets Production from KG-D5 Block By 2018

    State-owned Oil and Natural Gas Corp (ONGC) is targeting mid-2018 for start of natural gas production from its Krishna Godavari basin KG-D5 block, Oil Minister Dharmendra Pradhan said today.

  • Oil Tumbles More Than $6 as OPEC Keeps Output High

    Oil Tumbles More Than $6 as OPEC Keeps Output High

    Asked whether the oil producer group had decided to reduce production, Saudi Arabian Oil Minister Ali al-Naimi told reporters: "That is right."

  • Low Expectations for Oil Output Cut as OPEC Meets

    Low Expectations for Oil Output Cut as OPEC Meets

    Saudi Oil Minister Ali al-Naimi and his United Arab Emirates counterpart, Suhail bin Mohammed al-Mazroui, said on Wednesday they expected the oil market to stabilise itself. A Gulf OPEC delegate told Reuters the Gulf producers had reached a consensus...

  • Libya's Rival Oil Minister Wants to Attend OPEC Meeting

    Libya's Rival Oil Minister Wants to Attend OPEC Meeting

    Libya's rival government wants to send its oil minister to the OPEC summit in Vienna this week and will refuse to comply with any production decisions if it is denied access, the minister said.

  • Expert Report on ONGC-Reliance Industries Gas Dispute by June: Oil Minister

    Expert Report on ONGC-Reliance Industries Gas Dispute by June: Oil Minister

    International expert D&M will by June next year submit its report on claims of gas by Oil and Natural Gas Corp (ONGC) from its KG basin find seeping into the neighbouring gas field operated by Reliance Industries Ltd (RIL), Oil Minister Dharmendra Pr...

  • Government Yet to Decide on Dates for ONGC, Coal India Stake Sales: Report

    Government Yet to Decide on Dates for ONGC, Coal India Stake Sales: Report

    The government has yet to decide on the dates for selling a 10 per cent stake in state-controlled Coal India and 5 per cent in Oil and Natural Gas Corp, a government official said after a meeting with the Finance Minister on Tuesday.

  • Oil Slumps to 4-year Low as Brent Crashes Below $80 a Barrel

    Oil Slumps to 4-year Low as Brent Crashes Below $80 a Barrel

    The decline compounded Wednesday's losses stemming from comments by Saudi Arabia's oil minister that showed little will by the kingdom to cut output when the Organization of the Petroleum Exporting Countries meets on Nov. 27.

  • Food Ministry Recommends Raising Edible Oil Import Taxes

    Food Ministry Recommends Raising Edible Oil Import Taxes

    Food Minister Ram Vilas Paswan has said that his ministry wants to double the import tax on crude edible oils and raise that on refined oils by 50 per cent, but is waiting for other ministries to give their views before passing its recommendation to ...

  • Modified LPG Subsidy Scheme to be in 54 Districts From November 15

    Modified LPG Subsidy Scheme to be in 54 Districts From November 15

    A modified direct cash subsidy transfer scheme for LPG consumers will be launched in 54 districts from November 15 and all over the country from January 1.

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