The complete deregulation of diesel prices and the announcement of the new gas pricing formula are bound to give a fillip to the oil & gas sector in the country. Finally, the oil & gas sector has been visited by the ĆĀ“reforms
Tag: diesel
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First cross-country pipeline to connect Bangladesh
Assam-based Numaligarh Refineries, a subsidiary of Bharat Petroleum Corporation, will shortly begin work on laying a product pipeline from Siliguri in West Bengal to Parbatipur in Bangladesh.
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Landmark initiatives for energy efficiency
Dharmendra Pradhan, Union Minister of State for Petroleum and Natural Gas has launched three landmark initiatives for energy efficiency.
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Petrol price drops by Rs 1.15 a litre
On the eve of Diwali, petrol is cheaper by Rs 1.38 per litre from November 1, but diesel is costlier by 56 paise per litre in Delhi. The fuel price variation is because of strengthening of the rupee against the dollar and softer international gasoline rates. This is the second time that petrol prices have fallen in a month, giving consumers a breather.
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Expert Group to advice govt on deesel pricing
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.
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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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Gas, diesel may become costly, cut in petrol price likely
Media reports say that there could be a small reduction in petrol prices if the rupee remains north bound but hike in diesel and kitchen fuel prices appears inevitable. Prices of crude mix, that the government-owned refiners buy, dropped to $110.15 per barrel on September 10 from a high of $112.26 on the previous day.
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Fuel saving locomotive at Railways
Yet another milestone in introduction of fuel-efficient technologies for diesel engines has been achieved with Indian Railways manufacturing the first multi-genset locomotive in India.
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Under-recovery of oil firms on the rise
Under-recovery on sale of one litre of diesel rose to Rs 14 over the last couple from around Rs 7 earlier because of global rise in crude oil price and depreciation of rupee. The rising under-recovery would adversely affect state-run oil marketing companies (OMCs) like IndianOil, Bharat Petroleum Corporation and Hindustan Petroleum Corp
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IOC to get Rs 42 bn cash subsidy for Q1
India's State-owned fuel retailing oil company, Indian Oil Corp is to get cash payment for the fiscal first quarter subsidy from the government on September 17, the company's officials said on August 26. The Union government provides the subsidy to its fuel retailers-Indian Oil Corp, Hindustan Petroleum Corp (HPCL.NS) and Bharat Petroleum Corp (BPCL.NS) to sell diesel, kerosene and cooking gas at discounted rates to the poor and tame inflation.