The Government had constituted an Expert Group to advice on Pricing Methodology for Diesel, Domestic LPG and PDS Kerosene under the chairmanship of Kirit S Parikh (Former Member, Planning Commission). The Expert Group has submitted the report to the Minister of Petroleum & Natural Gas M Veerappa Moily in Delhi on October 30.
Category: Oil & Gas
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Panel suggests hike in diesel price of Rs 5 per litre
A government panel has on October 30 recommended an immediate rise of Rs 5 per litre of diesel or 9.5 per cent rise, along with other measures aimed at cutting the governmentĆās huge oil subsidy bill.
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Rs 1.50 cut likely in petrol price
A small slash in petrol price is awaiting the customers before this Diwali. There may be Rs 1.50 cut in petrol price per litre as favourable changes in the rupee-dollar rate and softer international prices have set the tone in the direction.
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CNG’s uniform price in 2 months
The Union government is to come out with a uniform Compressed Natural Gas (CNG) pricing across the country. The Union Ministry of Petroleum and Natural Gas is set to come up with a proposal in this regard, said a senior official concerned.
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India will go for gas, oil deal with Russia
India will not be wrapping the deal on Koodankulam 3 and 4 Energy pact with Russia.
Instead the country will push for an energy pact with Russia that could see a parallel twin gas and oil pipeline bringing energy overland into India. Indian Prime Minister Manmohan Singh arrived in Moscow on a two-day visit for the 14th India-Russian annual summit at the invitation of President Vladimir Putin on October 20.
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OVL, OIL to share Videocon stake equally
The 10 per cent stake in Videocon Group's giant Mozambique gas field bought by ONGC Videsh (OVL) and Oil India for $2.475 billion will be shared equally. OVL, the overseas arm of State-owned Oil and Natural Gas Corp (ONGC) and OIL had jointly bought Videocon Group's 10 per cent interest in the Rovuma Area-1 for $2.475 billion.
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ONGC Videsh to buy 12% in Brazil’s BC-10 block
To buy an additional 12 per cent participating interest in block BC-10 in Brazil's Campos Basin, ONGC Videsh has signed definitive agreements. Post the deal, OVLĆās share in the acreage would increase to 27 per cent, the Indian government firm said on October 14.
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HC asks Maha govt to ban construction on wetlands
The Maharashtra government has been directed by the Bombay High Court on October 14 to issue a circular to all civic bodies to ensure that no construction or reclamation is permitted on wetlands in Maharashtra. A division bench of Justice VM Kanade and Justice SC Gupte also directed the government to state if it will adopt the Centre's wetland atlas as its brief document.
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Oil Ministry saves 600 litres of fuel by using Metro rail
The Union Petroleum and and Natural Gas Minister Marpadi Veerappa Moily has said that his ministry alone can save about 600 litre of petrol and diesel worth over Rs 40,000 by travelling by public transport. He traveled by the Delhi Metro rail on October 9.
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Work on LNG terminal at Mangalore to begin in Nov
Union Minister for Petroleum and Natural Gas Marpadi Veerappa Moily has said that the construction of an LNG import terminal at Mangalore will commence in next November. At present, companies ONGC, Bharat Petroleum Corp Ltd. (BPCL), Mitsui and New Mangaloe Port Trust (NMPT) are surveying the feasibility of the LNG terminal, say media reports.