oil bonds

Government intervention if crude oil prices turn volatile: Deora


July 2nd, 2010 - 10:32 pm ICT by IANS
Bangalore, July 2 (IANS) The central government will step in to regulate the decontrolled price of petrol if crude oil rates turn highly volatile in the international markets, Petroleum and Natural Gas ... Read more...

Posted in Business |

Government to decide on cooking gas, kerosene price hike


March 21st, 2010 - 12:08 am ICT by IANS
Chennai, March 20 (IANS) The central government will take a decision on hiking the cooking gas and kerosene prices on the lines recommended by Kirit Parikh committee, an official said Saturday. "The ... Read more...

Posted in Business |

Deora welcomes union budget, justifies fuel price hike


February 26th, 2010 - 8:05 pm ICT by IANS
New Delhi, Feb 26 (IANS) Minister of Petroleum and Natural Gas Murli Deora Friday welcomed the budget and also justified the fuel price increase by the restoration of basic customs duty ... Read more...

Posted in Business |

Fuel prices to rise after Pranab’s budget


February 26th, 2010 - 4:03 pm ICT by IANS
New Delhi, Feb 26 (IANS) Fuel prices in the country are set to increase with Finance Minister Pranab Mukherjee Friday announcing restoration of basic duty on petrol, diesel and crude petroleum ... Read more...

Posted in Business |

Deora to meet Pranab over fuel price determination


February 2nd, 2010 - 2:06 pm ICT by ANI
New Delhi, Feb 2 (ANI): Petroleum Minister Murli Deora is expected to meetFinance Minister Pranab Mukherjee on Tuesday to discuss the petroleum price rise issue.There are reports that the two ministers ... Read more...

Posted in National |

No fuel hike now, will ask more money for oil firms: Deora (Lead)


February 1st, 2010 - 6:16 pm ICT by IANS
New Delhi, Feb 1 (IANS) Petroleum Minister Murli Deora Monday said he will meet Finance Minister Pranab Mukherjee to ask for more compensation for the state oil marketing companies suffering losses ... Read more...

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EXpert group’s report on fuel pricing by month-end


January 20th, 2010 - 6:20 pm ICT by IANS
New Delhi, Jan 20 (IANS) An expert committee on fuel pricing, headed by eminent economist and former Planning Commission member Kirit Parikh, will submit its recommendations Jan 31. "I will give my ... Read more...

Posted in Business |

Rupees 120 billion paid by Government of India to bail out oil companies


January 19th, 2010 - 5:46 pm ICT by ANI
New Delhi, Jan. 19 (ANI):Petroleum Minister Murli Deora on Tuesday disclosed that the Finance Ministry has granted 120 billion rupees to compensate losses incurred by government-run oil companies."Finance Ministry will pay for ... Read more...

Posted in World |

Deora meets Mukherjee on oil price hike, no decision taken


January 14th, 2010 - 8:32 pm ICT by IANS
New Delhi, Jan 14 (IANS) Finance Minister Pranab Mukherjee and Petroleum Minister Murli Deora, who met Thursday to discuss the proposed fuel prices hike, were unable to agree on the quantum ... Read more...

Posted in Business |

Deora meets PM on fuel prices, no decision taken


January 13th, 2010 - 10:50 pm ICT by IANS
New Delhi, Jan 13 (IANS) Petroleum Minister Murli Deora met Prime Minister Manmohan Singh Wednesay evening to discuss raising prices of petroleum products, but no decision was taken. Deora is now scheduled ... Read more...

Posted in Business |

No case for subsidising petrol, asserts ONGC (Lead)


December 14th, 2009 - 10:20 pm ICT by IANS
New Delhi, Dec 14 (IANS) While ONGC chairman R.S. Sharma Monday said that there is "no case" for subsidising petrol, he hoped that the new expert committee will come out with a ... Read more...

Posted in Business |

Government to set up another panel on oil pricing (Lead)


July 6th, 2009 - 6:48 pm ICT by IANS
New Delhi, July 6 (IANS) The government will set up another expert group on oil pricing, barely a year after the B.K. Chaturvedi committee had submitted its report that linked domestic ... Read more...

Posted in Business |

Decontrol fuel prices, limit subsidies: Economic Survey (Lead)


July 2nd, 2009 - 7:27 pm ICT by IANS
New Delhi, July 2 (IANS) India's Economic Survey tabled in parliament Thursday called for decontrolling petrol and diesel prices "at the earliest" and reforming subsidies to cooking gas and kerosene. The ... Read more...

Posted in Business |

India inc welcomes petrol price hike


July 1st, 2009 - 10:44 pm ICT by IANS
New Delhi, July 1 (IANS) India Inc Wednesday welcomed the government's decision to raise fuel prices, saying the move would help oil companies reduce their huge subsidy burden. "With hike in prices of ... Read more...

Posted in Business |

Deora hints at fuel price hike


June 16th, 2009 - 3:22 pm ICT by ANI
New Delhi, June 15(ANI): Union Petroleum Minister Murli Deora has expressed his concern over the rise in international crude oil prices and said that the government is looking at solutions to tackle ... Read more...

Posted in National |

Government considering fuel price hike


June 15th, 2009 - 10:29 pm ICT by IANS
New Delhi, June 15 (IANS) The government is "seriously concerned" about the rise of crude oil prices in the global market and is looking at various options, including raising ... Read more...

Posted in Business |

State-run oil firms pay lower dividend


February 26th, 2009 - 9:20 pm ICT by IANS
New Delhi, Feb 26 (IANS) State-run oil companies have made a dividend payment of Rs.70.04 billion (Rs.7,004 crore) this fiscal, down from Rs.73.35 billion paid in 2007-08, a union minister said here ... Read more...

Posted in Uncategorized |

Under-recoveries on petroleum products to be less than feared


February 15th, 2009 - 8:45 pm ICT by IANS
Mumbai, Feb 15 (IANS) The government Sunday said under-recoveries on account of subsidies on petroleum products would be around Rs.1 trillion this fiscal and not Rs.2.45 trillion as estimated earlier.Talking to reporters ... Read more...

Posted in Business |

Indian Oil posts Rs.37-bn loss in first nine months (Lead)


January 30th, 2009 - 10:07 pm ICT by IANS
New Delhi, Jan 30 (IANS) State-run oil major Indian Oil Corp (IOC) posted losses amounting to about Rs.37 billion (Rs.3,700 crore) in the first nine months of this fiscal, but hopes to ... Read more...

Posted in Uncategorized |

Indian Oil posts Rs.70 bn loss, seeks more oil bonds (Third Lead)


October 31st, 2008 - 9:53 pm ICT by IANS
New Delhi, Oct 31 (IANS) Urging the government to fully compensate its losses due to under-recovery from sale of subsidised fuel, Indian Oil Corp (IOC), which posted a loss of Rs.70 billion ... Read more...

Posted in Business |

Indian Oil posts Rs.70 bn loss (Second Lead)


October 31st, 2008 - 6:31 pm ICT by IANS
New Delhi, Oct 31 (IANS) India's largest oil marketing company, the state-run Indian Oil Corp, has slipped into the red in the second quarter due to the depreciation of the rupee ... Read more...

Posted in Business |

Indian Oil profit falls 285 percent to Rs.70 bn (Lead)


October 31st, 2008 - 5:00 pm ICT by IANS
New Delhi, Oct 31 (IANS) India's largest oil marketing company, the state-run Indian Oil Corp, has slipped into the red in the second quarter due to the depreciation of the rupee and ... Read more...

Posted in Business |

ONGC net falls 5.7 percent on subsidy burden (Lead)


October 30th, 2008 - 11:12 pm ICT by IANS
New Delhi, Oct 30 (IANS) India's largest oil producer Oil and Natural Gas Corp recorded 5.7 percent fall in net profit in the second quarter this fiscal, due to a two-fold jump ... Read more...

Posted in Business |

Petroleum minister seeks increase in oil bond allocation


October 30th, 2008 - 9:48 pm ICT by IANS
New Delhi, Oct 30 (IANS) With oil marketing companies expected to post losses in the second quarter, Petroleum Minister Murli Deora met Finance Minister P. Chidambaram to ask for an increase in ... Read more...

Posted in Business |

India will miss fiscal deficit target, says Plan panel


October 30th, 2008 - 8:40 pm ICT by IANS
Bangalore, Oct 30 (IANS) The government is unlikely to meet the 3.1 percent fiscal deficit target set for this fiscal due to excess borrowings to meet contingencies, Planning Commission deputy chairman Montek ... Read more...

Posted in Uncategorized |

BJP’s bailout plan to beat India’s financial crisis


October 14th, 2008 - 9:16 pm ICT by IANS
New Delhi, Oct 14 (IANS) The main opposition Bharatiya Janata Party (BJP) Tuesday suggested 12 points to government to beat the current financial crisis.BJP leader Arun Shourie advised the government to consider ... Read more...

Posted in Politics |

No reduction in petrol, diesel prices now: Deora


September 1st, 2008 - 8:36 pm ICT by ANI
New Delhi, Sep 1 (ANI): The Union Government today ruled out an immediate reduction in petrol and diesel prices as state-run firms are still running into daily loss of over Rs ... Read more...

Posted in National |

Panel on oil firms’ finances submits report to PMO


August 6th, 2008 - 11:54 pm ICT by IANS
Bangalore, Aug 6 (IANS) A high-power committee constituted by Prime Minister Manmohan Singh in June to study the financial position of the state-run oil firms in the wake of soaring crude oil ... Read more...

Posted in Business |

Indian Oil gets Rs.200 bn cash injection


August 6th, 2008 - 9:55 pm ICT by IANS
New Delhi, Aug 6 (IANS) The state-owned Indian Oil Corp (IOC) has got a temporary cash injection with the Reserve Bank of India (RBI) raising its credit limit by Rs.200 billion. IOC, ... Read more...

Posted in Business |

Oil ministry wants Reserve Bank to buy oil bonds


August 1st, 2008 - 10:26 pm ICT by IANS
New Delhi, Aug 1 (IANS) The petroleum ministry wants the Reserve Bank of India (RBI) to resume buying oil bonds for oil marketing companies to ease their acute cash crunch, a senior ... Read more...

Posted in Business |

Raghav Pandey takes over as petroleum secretary


August 1st, 2008 - 3:57 pm ICT by IANS
New Delhi, Aug 1 (IANS) Raghav Sharan Pandey took charge as the petroleum secretary Friday, promising he would try balancing the "health" of both oil companies and consumers during his tenure. An ... Read more...

Posted in Business |

Highlights of India’s monetary policy review


July 29th, 2008 - 2:35 pm ICT by IANS
Mumbai, July 29 (IANS) Following are the highlights of India's monetary policy review conducted by Reserve Bank Governor Y.V. Reddy Tuesday, against the backdrop of inflation rate ruling at a 13-year high ... Read more...

Posted in Business |

MRPL net up 129 percent


July 25th, 2008 - 4:37 pm ICT by IANS
New Delhi, July 25 (IANS) Mangalore Refinery and Petrochemicals Ltd (MRPL) announced Friday a 129 percent jump in the company's net profit in the first quarter of this financial year, a company ... Read more...

Posted in Business |

PM urges countrymen to bear burden of hike in petrol prices


June 4th, 2008 - 11:07 pm ICT by ANI
New Delhi, June 4 (ANI): Prime Minister Manmohan Singh has urged the citizens to bear the burden of a modest hike in prices of petroleum products in the interest of the ... Read more...

Posted in Entertainment |

Highlights of India’s decisions on oil economy


June 4th, 2008 - 8:59 pm ICT by IANS
New Delhi, June 4 (IANS) Following are the highlights of the decisions on the petroleum sector taken here Wednesday at a meeting of India's Cabinet Committee on Political Affairs, presided over by ... Read more...

Posted in Business |

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