At a recent Cabinet committee meeting, the central government allowed oil marketing companies (OMCs) to revise diesel prices "by a small quantity" to reflect demand-supply condition in the market. Petroleum Minister Veerappa Moily told reporters after the meeting of the Cabinet Committee on Political Affai
Category: Oil & Gas
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Adani Gas depends on imported natural gas
Reports suggest that compressed natural gas (CNG) is costlier in Ahmedabad than in Delhi, Mumbai, Pune because Adani Gas, which distributes gas in Ahmedabad, is entirely dependent on imported gas. The company has to depend on imported gas because it does not have access to domestically produced gas, while companies in Delhi, Mumbai and the othe
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OMCs raise diesel price by 45 paise
In an official statement, Indian Oil said state-run oil marketing companies (OMCs) raised the price of diesel by 45 paise excluding taxes with immediate effect. It may be noted that the government allowed these firms to revise diesel prices in small quantities periodically to reflect market realities
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Consumers to get 3 more subsidised LPG a year
Union government raised the cap on subsidised cooking gas cylinder per household per year to nine from the previously fixed six. The new cap would be applicable from the financial year beginning April 1, 2013. Between September 2012 and March 2013, household will get a quota of five subsidised cylinders, Oil Minister M Veerappa Moily told reporters after the mee
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Private OMCs want complete de-regulation of diesel pricing
Oil Marketing Companies (OMCs) in the private sector have welcomed the decision of the government to allow state-run OMCs to revise diesel prices. However, they want complete de-regulation of diesel pricing in the country. They feel that the decision to allow state-run OMCs to revise diesel price is a token mea
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Cairn India awaits nod for exploration
The management committee that overseas the production of crude oil by Cairn India in the Rajasthan oilfields is expected to meet soon. Cairn India is awaiting the approval of the committee for exploration in the delineated area in the Rajasthan oil field so that it could raise oil production. Once approved, the company would be able to raise prod
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Board of Petronet clears Rs 50 bn terminal project
Petronet LNG, which proposes to set up a five million tonne per annum LNG terminal at Gangavaram, Andhra Pradesh at a cost of about Rs 5,000 crore, received final approval from its board for the investment. The firm, which expects to complete the project by end-2016, has finished several pre-project activities and it is working towards short-listing of potential cont
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Congress considers raising fuel prices
The ruling Congress Party at the centre is considering to raise the price of diesel and kerosene in order to reduce the government's fuel subsidy burden and thereby reduce its fiscal deficit. It may be noted that the Congress Core Committee, which has representatives of the party and the government, discussed the issue recently. Although no decision has yet been taken, the party is said to be evolving consensus on raising prices for the
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RIL produces 22.04 mmscmd gas from KG-D6
A report from the Directorate General of Hydrocarbon (DGH) shows that natural gas output from Reliance Industries' KG-D6 field stood at 22.04 million standard cubic meters per day in the week ended December 30, 2012. The output belongs to Dhirubhai-1 and 3 gas fields and MA oil and gas field in the KG-DWN-98/3 or KG-D6 bloc
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Govt launches portability scheme for LPG consumers
Petroleum and Natural Gas Minister M Veerappa Moily informed reporters that the government recently launched a pilot project of portability for LPG connections in Chandigarh. The project is aimed at enabling the customer, who is not satisfied with his present distributor, to shift his connection to another dealer. In 2013-14, the three state-run fuel retailers – IOC, BPCL