The net profit of state-run Oil & Natural Gas Corp (ONGC) fell 17.5 percent during Oct-Dec 2012 to Rs 5,563 crore from Rs 6,741 crore in the same period previous year. The company attributed the contraction in the bottomline to a higher tax on crude oil and fall in its oil and gas output. The cess on crude oil was raised 80 perc
Category: Oil & Gas
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OMCs may decide individually on diesel price change
Reports suggest that oil marketing companies (OMCs) may decide on hiking diesel prices individually as collective decision invites suspicion of cartelisation from the Competition Commission of India (CCI). In 2010, Reliance Industries had petitioned CCI, alleging the government OMCs acted as a cartel while pricing their aviation turbine fuel supply for Air India, on a te
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OMCs may decide individually on diesel price change
Reports suggest that oil marketing companies (OMCs) may decide on hiking diesel prices individually as collective decision invites suspicion of cartelisation from the Competition Commission of India (CCI). In 2010, Reliance Industries had petitioned CCI, alleging the government OMCs acted as a cartel while pricing their aviation turbine fuel supply for Air India, on a te
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201
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Shell India mulls $1 bn investment in LNG terminal
In a joint venture with Anil Ambani Group firm Reliance Power, Anglo-Dutch oil giant Royal Dutch Shell is building a floating liquid gas (LNG) terminal off Kakinada in Andhra Pradesh. The company plans to invest $1 billion in the terminal project by 2014 as it bets big on gas retailing in the energy defici
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Shell India mulls $1 bn investment in LNG terminal
In a joint venture with Anil Ambani Group firm Reliance Power, Anglo-Dutch oil giant Royal Dutch Shell is building a floating liquid gas (LNG) terminal off Kakinada in Andhra Pradesh. The company plans to invest $1 billion in the terminal project by 2014 as it bets big on gas retailing in the energy defici
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FAI opposes gas pricing formula of panel
Fertiliser Association of India (FAI) warned that the natural gas pricing formula suggested by the Rangarajan Committee, if implemented, would raise the price of urea considerably. At present there is a production of about 18 million tonne of urea using natural gas in the country. An increase of $1 per million BTU will increase the total cost of p
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FAI opposes gas pricing formula of panel
Fertiliser Association of India (FAI) warned that the natural gas pricing formula suggested by the Rangarajan Committee, if implemented, would raise the price of urea considerably. At present there is a production of about 18 million tonne of urea using natural gas in the country. An increase of $1 per million BTU will increase the total cost of p
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AGL to set up mother station for CNG
Reports suggest that AGL (Awantika Gas), which is a distributor of gas in Ujjain, would set up a mother station for compressed natural gas (CNG) on the land to be handed over by the state government. It is learnt that the firm would complete the project in a few months after it receives possession of the land, which was handed over to the Industries department
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