Petrol price was steeply cut by Rs 3.05 per litre on September 30. The price changes announced by oil companies are excluding local sales tax or VAT and will be effective midnight of September 30. It was the first reduction in rates in over five months and the steepest in over five years, while diesel prices were raised by 50 paise a litre.
Category: Oil & Gas
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Gas-based project in Orissa
Now decks have been cleared for establishment of a 423 MW gas-based power project in Orissa, at an investment of Rs 3,106 crore. JGreen Power has come forward with its proposal for the project
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India to build its first oil storage facility soon
ndia will build its first strategic oil storage facility by January, Union Oil Minister M Veerappa Moily said. India, which is 79 per cent dependent on imports to meet its crude oil needs, is building underground storages at Visakhapatnam in Andhra Pradesh
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Mega refinery project in Rajasthan
The Union Cabinet has recently approved the proposal of Hindustan Petroleum Corporation (HPCL) to set up a 9 mmtpa greenfield refinery-cum-petrochemical complex in Barmer district in Rajasthan.
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CMPDI data on shale gas
Central Mine Planning & Design Institute (CMPDI) submitted data package for six shale gas blocks to the Directorate-General of Hydrocarbons.
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Nod to shale gas, oil exploration
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of the Ministry of Petroleum and Natural Gas on the policy on exploration and exploitation of shale gas
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Crude oil price comes down
The international crude oil price of Indian Basket fell to $106.42/per barrel (bbl) on September 24, says Petroleum Planning and Analysis Cell (PPAC) on September 25. This was lower than the price $107.47/bbl on the previous trading day of September 23, the PPAC said.
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BPCL to invest Rs 5k crore on gas transportation infra
State run oil marketing firm Bharat Petroleum Corporation (BPCL) is all set to make its footprints in creating gas transportation infrastructure pan India. The company is set aside Rs 4,000-5,000 crore to build the gas pipeline infrastructure over next 4-5 years
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Rs 37,230-cr refinery to develop Rajasthan economically: CM
Hindustan Petroleum Corporation's (HPCL) Rs 37,230-crore refinery-cum-petrochemical project at Pachpadra in Barmer of Rajasthan is said to help the state develop economically enormously. According to Rajasthan Chief Minister Ashok Gehlot, the project is expected to bring an overall investment of Rs 60,000-70,000 crore in the area.
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New auction policy okayed for coal, shale gas
For governing and auctioning of coal reserves and shale gas acreages in the future, the Union government has given its approval to bring in new allocation policies. This was decided by the Cabinet Committee on Economic Affairs (CCEA) on September 24. The CCEA approved a Coal Ministry's proposal for competitive bidding of blocks under production-linked revenue-sharing method and a Petroleum Ministry proposal for allocation of shale gas reserves on nomination basis.