The net profit of state-run gas transmission major GAIL grew 18 percent to Rs 1,285 crore during Oct-Dec 2012 quarter. The rise in the bottomline is attributed to a low subsidy burden and good performance of its petrochemicals division after a recent expansion
Tag: LPG
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Minister to decide on extending deadline for subsidy scheme
Andhra Pradesh Civil Supplies Minister D Sridhar Babu informed that the Union Oil and Gas Minister Veerappa Moily may take a decision on the extension of the deadline for beginning Adhaar-linked subsidy transfer scheme for LPG cylinders. It may be recalled that oil marketing companies (OMCs) set February 15 as the deadline for providing LPG cylinders on s
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HPCL mulls LPG storage facility for Rs 700 cr
Media reports suggest that Hindustan Petroleum Corp (HPCL) is discussing the feasibility of a Rs 600-700 crore project to set up underground storage facility for liquefied petroleum gas (LPG). The company proposes to set up the facility, which would be its second one, in Mangalore and it is expected to arrive at a decision on the project in the next six
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OMCs sell 2.8% more fuel products in December 2012
Data from the Petroleum Planning and Analysis Cell of the oil ministry shows sale of fuel products grew 2.8 per cent to 13.41 million tonne in December from the year ago month. Of this, sale of diesel constituted 6.13 million tonne, which is 4.4 per cent higher than December 2011. Diesel consumption makes up over 40 per cent of local fuel sales. Sale of diesel in December improved over Nove
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PPAC cuts growth forecast of fuel sales
Data released by the Petroleum Planning and Analysis Cell (PPAC) shows that fuel sales in the country may grow 5.2 percent in 2012-13, down from its earlier projection of 6.1 percent. In 2011-12, the sales grew 5 percent and the country consumed 148.13 million tonne of fuel, data show
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Oil firms reject proposal of state govt
The request of the Jammu and Kashmir government to state-run oil marketing companies (OMCs) to open new gas agencies at 1,800 locations was rejected by these firms. Instead, OMCs identified only 102 locations for new gas agencies across the state. It is learnt that twice these companies rejected the state governmentĂâs proposal
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Cabinet panel to decide on proposal to raise LPG cap
Media reports suggest that the Cabinet Committee on Economic Affairs would decide on the proposal of the oil ministry to raise the cap of the cap on supply of subsidised cooking gas (LPG) cylinders per household per year to nine. In September 2012, the government limited the subsi
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Contract opportunities in LPG sector
According to a government report, India is the fourth largest consumer of liquid petroleum gas (LPG) in the world after USA, China and Japan and the consumption grows steadily at 8 percent per annum. It is the third largest consumer of LPG in domestic sector in the world after China and the USA. Domestic sector is the major market of LPG in the country.
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IOC takes steps to weed out illegal customers
Indian Oil Corporation (IOC) is taking some stringent measures to weed out illegal customers of liquefied petroleum gas (LPG) or cooking gas in Gujarat. As part of these measures, the state-run oil marketing firm decided to block 4.7 lakh LPG consumer connections in the state for two reasons
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Multiple connections to be cancelled in Indore
The Indore chapter of All India LPG distribution federation informed that around 50,000 multiple cooking gas connections in the city would be disconnected. In order to avoid cancellation of multiple connections, customers must establish that there are two or more kitchens on a single address. Meanwhile, reports suggest that the number of complaints, especially those related to multiple connection and transfer of connections, is incre