RK Singh, chairman and managing director of BPCL pointed out that post diesel price hike, under recoveries of public sector oil companies will now reduce by Rs 20,000 crore.

Market driven price for LPG will be Rs 747 in Delhi: IOC

PK Goyal, director - finance, IOC, says that the under recovery on diesel effectively will only be reduced by Rs 3.50 a litre.

Have applied to DGFT to buy ATF directly: Vijay Mallya

In an attempt to reduce cost, Kingfisher Airlines has applied to the directorate general of foreign trade (DGFT) to import aviation turbine fuel (ATF) directly.

Platts' top 250 global energy cos list: Who gets what & why

Energy information provider Platts today came out with its top 250 global energy company rankings. Indian public sector coal major, Coal India took second rank in Platts' list.

OMCs take up automation of petrol stations

Frayed tempers and altercations over short measurement at petrol pumps may soon become a thing of past with public sector oil marketing companies taking up automation of the fuel dispensers.

RS Sharma warns subsidy burden may dampen market mood

RS Sharma, former chairman of ONGC, in an exclusive interview CNBC-TV-18's Udayan Mukherjee and Mitali Mukherjee, said that the downstream fuel retailers are under a lot of stress. “The higher upstream subsidy burden will not be well received by the market,” he added.

Experts see ad-hocism in oil subsidy sharing to continue

In an interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee, RS Sharma, former chairman of ONGC and Kirit Parikh, member of Planning Commission, said that the government has never clarified on the subsidy sharing mechanism for upstream companies and higher upstream burden will not be received well by the market.

Ad hoc nature of subsidies should be eliminated: RS Sharma

The government has closed its oil subsidy account for fiscal year 2011 by giving state-owned oil marketing companies an additional subsidy of Rs 20,000 crore.

Recent contracts added 2.2 lakh capacity: Confidence Petro

Confidence Petroleum has won an LPG bottling contract from Hindustan Petroleum and Bharat Petroleum. In an exclusive interview with CNBC-TV18’s Latha Venkatesh and Soniya Shenoy, Nitin Khara, Chairman and Managing Director of Confidence Petroleum says the company has added 2.2 lakh capacity from the recent contracts.