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Economic Survey: Power, coal, cement propelled growth, manufacturing disappoints

Feb 27, 2015 at 13:14 | Source: FirstPost

Finance Minister Arun Jaitley today presented the Economic Survey in the Lok Sabha which noted the recovery in the current fiscal was led by the infrastructure sectors namely electricity, coal and cement. According to the latest Index of Industrial p...

Oil retreats as rising U.S. inventories continue to weigh

Feb 27, 2015 at 03:15 | Source: FirstPost

NEW YORK (Reuters) - Crude oil futures fell sharply on Thursday as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand.While Brent losses were tempered by those expectations...

Oil ministry espionage case: Two more arrested by Delhi Police

Feb 26, 2015 at 11:34 | Source: FirstPost

New Delhi: Delhi Police on Thursday arrested two more persons in connection with the corporate espionage case."Jitender Nagpal, PS to Joint Secretary in Forest and Environment ministry and Vipan Kumar, PA to a UPSC member were arrested," Jo...

Political impasse stops Lebanon exploiting oil resources

Feb 25, 2015 at 04:47 | Source: BBC

Two years ago, billboards across Lebanon declared: Our country has oil. The announcement was supposed to bring with it the magical solution for many of Lebanon's ills, among them chronic public debt, power shortages and poor public services. Bac...

Ukraine rebels show weapons pullback; Kiev rejects 'empty words'

Feb 25, 2015 at 02:46 | Source: FirstPost

MAKIYVKA, Ukraine (Reuters) - Pro-Russia separatists brought reporters on Tuesday to witness the withdrawal of heavy weapons from the front line in east Ukraine under a ceasefire deal, but Ukraine said the rebels were using the cover of the truce to ...

Ukraine rebels show withdrawal of weapons; Kiev doubtful

Feb 25, 2015 at 01:46 | Source: FirstPost

MAKIYVKA, Ukraine (Reuters) - Pro-Russia separatists brought reporters on Tuesday to witness the withdrawal of heavy weapons from the front line in east Ukraine under a ceasefire deal, but Ukraine said the rebels were using the cover of the truce to ...

Political impasse stops Lebanon exploiting oil reserves

Feb 24, 2015 at 20:47 | Source: BBC

Two years ago, billboards across Lebanon declared: Our country has oil. The announcement was supposed to bring with it the magical solution for many of Lebanon's ills, among them chronic public debt, power shortages and poor public services. Bac...

Oil Ministry suspends ONGC director Shashi Shankar over alleged irregularities

Feb 24, 2015 at 16:22 | Source: FirstPost

New Delhi: The Oil Ministry has suspended ONGC Director (Technical) Shashi Shankar over allegations of irregularities.The ministry yesterday wrote to Oil and Natural Gas Corp that a disciplinary proceeding against Shankar is being contemplated."...

Oil min leaks: 5 yrs after Niira Radia controversy, corporate espionage still a grim reality

Feb 21, 2015 at 10:18 | Source: FirstPost

New Delhi: The news of corporate espionage and stealing of classified documents from the Petroleum Ministry has made headlines after the arrest of 12 persons allegedly involved in the act, but insiders and people in the know say the practice is so co...

Oil min leaks: 5 execs arrested, probe widens to coal, power ministry

Feb 21, 2015 at 09:11 | Source: FirstPost

The sensational petroleum ministry document leakage case assumed wider dimensions as seven more people, including a former journalist, an energy consultant and officials of corporate entities, were arrested ON Friday. The police complaint said the pa...

Oil min espionage: 5 corporate execs arrested, FIR says budget document among leaked papers

Feb 21, 2015 at 08:50 | Source: FirstPost

The sensational petroleum ministry document leakage case assumed wider dimensions as seven more people, including a former journalist, an energy consultant and officials of corporate entities, were arrested ON Friday. The police complaint said the pa...

India arrests over energy document 'leaks'

Feb 21, 2015 at 05:17 | Source: BBC

Police in India say they have arrested seven people for allegedly leaking classified government documents to energy companies for money. Two government officials, an employee of a top energy company and two middlemen were held at the petroleum minist...

Oil min leaks: Delhi police arrest energy consultant Prayas Jain and journalist Shantanu Saikia

Feb 20, 2015 at 12:45 | Source: FirstPost

Delhi Police today arrested two energy consultants in connection with leaking of classified documents from the Petroleum Ministry.Cracking down on a suspected case of corporate espionage, police had yesterday arrested two Oil Ministry officials, a Re...

Bihar Live: Manjhi resigns as CM, says his ministers got death threats

Feb 20, 2015 at 11:47 | Source: FirstPost

11.41 am: My ministers received death threats, says ManjhiJitan Ram Manjhi, at a press conference, said that he resigned as the Bihar CM because of the threats he and his ministers were receiving. He also said that the post of the Chief Minister was ...

Oil Ministry moves proposal to pool gas price for fertiliser plants

Feb 18, 2015 at 18:49 | Source: FirstPost

New Delhi: After power, the Oil Ministry has moved a proposal to pool or average out prices of domestic natural gas and imported LNG used by fertilizer plants to make the cost of fuel uniform and affordable.Fertilizer plants consume about 42.25 milli...

India's new gas pricing formula makes no sense, says energy expert Fereidun Fesharaki

Feb 18, 2015 at 16:29 | Source: FirstPost

New Delhi: Slamming the new natural gas formula as making "no sense", world renowned energy expert Fereidun Fesharaki has said only guaranteed market prices along with stable policy regime would bring in investments from global majors.Fesha...

Oil Ministry clears development of discoveries worth Rs 1.5 lakh cr

Feb 17, 2015 at 17:53 | Source: FirstPost

New Delhi: Ending months of logjam over discoveries mired in contractual disputes, the Oil Ministry has used the recently granted freedom to clear development of oil and gas discoveries worth about Rs 150,000 crore.The ministry has used the flexibili...

Stung by low gas pricing, Niko to exit RIL's KG-D6 block

Feb 16, 2015 at 07:56 | Source: FirstPost

Stung by lower-than-expected hike in natural gas prices, Canada's Niko Resources has put up for sale its stake in Reliance Industries' KG-D6 gas block saying there is uncertainty over long-term price outlook in India.Niko holds 10 percent stake in th...

ONGC Q3 profit halves, hurt by crude slump

Feb 14, 2015 at 19:30 | Source: FirstPost

MUMBAI (Reuters) - India's Oil and Natural Gas Corp's net profit halved in the third quarter, its second successive quarterly profit drop, hurt by the continuing decline in crude prices which impacted the state explorer's sales.Brent crude has dived ...

AAP will pursue corruption charges against Sheila Dikshit and Mukesh Ambani: Sisodia

Feb 13, 2015 at 22:45 | Source: FirstPost

New Delhi:Delhi's AAP government, to be sworn in on Saturday, will pursue allegations of corruption against ex-Chief Minister Sheila Dikshit and industrialist Mukesh Ambani and others, Deputy Chief Minister-designate Manish Sisodia said on Friday.All...

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