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Cabinet Approves Rs 30,000-Crore LPG Subsidy To Compensate Oil Firms For Losses
Cabinet on Friday approved Rs 30,000 crore LPG subsidy to state-run oil companies -- Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum -- to compensate for losses incurred from selling LPG at below cost over the past 15 months.
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UN Chief Slams Oil Firms For "Big Lie" On Global Warming
UN Secretary-General Antonio Guterres accused oil firms on Wednesday of peddling a "big lie" about their role in global warming and warned they should be held accountable.
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Probe Agency Arrests Man For Cheating On Pretext Of Russia Firm Investment
The Enforcement Directorate has arrested a man for allegedly laundering multi-crore funds by duping people in the name of investments into hedge funds of prominent Russian oil company Rosneft.
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Central Pollution Control Board Sends Show Cause Notice To Oil Firm
The Central Pollution Control Board has asked oil firm Nayara Energy why a fine of Rs one crore should not be slapped on it and prosecution not initiated over non-compliance of the National Green Tribunal (NGT) order on installation of anti-pollution vapour recovery systems at fuel stations.
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Oil Firms Borrowed Billions. Now They're Getting Burned.
He'd borrowed from banks and investors and retirement funds, all in a frenzied mission to drill for oil and gas, and by the time Terry Swift realized he'd gone too far, this was his debt: $1.349 billion. His company, founded by his father almost 40 years earlier, had plunged into bankruptcy and laid off 25 percent of its staff. Its shares had been ...
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Algerian Court Jails 6 In Oil Firm Corruption Case
An Algerian court jailed six people on Tuesday in a corruption case involving state energy firm Sonatrach, including a former vice president and an ex-state bank chief, and it fined two local subsidaries for their role.
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Espionage Case: 'Guilty Won't Be Spared,' Says Home Minister
Union Home Minister Rajnath Singh today said that the guilty would not be spared in the case of corporate espionage involving top-secret government documents, and promised "strictest punishment". Five senior energy company employees, who were arrested by the Delhi Police's Crime Branch on Friday in connection with the case, were produced in court t...
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Oil Minister Approves Appointment of New IOC Chairman
Petroleum Minister Dharmendra Pradhan has approved appointment of B Ashok as the head of India's largest oil firm, IOC, in what will be the first top level appointment by the new government.
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Fuel supply resumes, Air India operations normal
At least five Air India flights were cancelled on Friday as the airline prepared a contingency plan to meet a fuel shortage after three state-owned oil firms refused to supply jet fuel till the airline paid off its mounting dues. (Read: Passengers protest in Kochi as Air India cancels flights)Indian Oil Corporation, Bharat Petroleum Corporation Lim...
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Cabinet Approves Rs 30,000-Crore LPG Subsidy To Compensate Oil Firms For Losses
Cabinet on Friday approved Rs 30,000 crore LPG subsidy to state-run oil companies -- Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum -- to compensate for losses incurred from selling LPG at below cost over the past 15 months.
-
UN Chief Slams Oil Firms For "Big Lie" On Global Warming
UN Secretary-General Antonio Guterres accused oil firms on Wednesday of peddling a "big lie" about their role in global warming and warned they should be held accountable.
-
Probe Agency Arrests Man For Cheating On Pretext Of Russia Firm Investment
The Enforcement Directorate has arrested a man for allegedly laundering multi-crore funds by duping people in the name of investments into hedge funds of prominent Russian oil company Rosneft.
-
Central Pollution Control Board Sends Show Cause Notice To Oil Firm
The Central Pollution Control Board has asked oil firm Nayara Energy why a fine of Rs one crore should not be slapped on it and prosecution not initiated over non-compliance of the National Green Tribunal (NGT) order on installation of anti-pollution vapour recovery systems at fuel stations.
-
Oil Firms Borrowed Billions. Now They're Getting Burned.
He'd borrowed from banks and investors and retirement funds, all in a frenzied mission to drill for oil and gas, and by the time Terry Swift realized he'd gone too far, this was his debt: $1.349 billion. His company, founded by his father almost 40 years earlier, had plunged into bankruptcy and laid off 25 percent of its staff. Its shares had been ...
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Algerian Court Jails 6 In Oil Firm Corruption Case
An Algerian court jailed six people on Tuesday in a corruption case involving state energy firm Sonatrach, including a former vice president and an ex-state bank chief, and it fined two local subsidaries for their role.
-
Espionage Case: 'Guilty Won't Be Spared,' Says Home Minister
Union Home Minister Rajnath Singh today said that the guilty would not be spared in the case of corporate espionage involving top-secret government documents, and promised "strictest punishment". Five senior energy company employees, who were arrested by the Delhi Police's Crime Branch on Friday in connection with the case, were produced in court t...
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Oil Minister Approves Appointment of New IOC Chairman
Petroleum Minister Dharmendra Pradhan has approved appointment of B Ashok as the head of India's largest oil firm, IOC, in what will be the first top level appointment by the new government.
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Fuel supply resumes, Air India operations normal
At least five Air India flights were cancelled on Friday as the airline prepared a contingency plan to meet a fuel shortage after three state-owned oil firms refused to supply jet fuel till the airline paid off its mounting dues. (Read: Passengers protest in Kochi as Air India cancels flights)Indian Oil Corporation, Bharat Petroleum Corporation Lim...
