-
In an interview to the media, RS Butola, chairman, IOC says the under recoveries on diesel have been increasing very significantly. "They are more than Rs 70 on diesel, more than Rs 347 on LPG and around Rs 32 on superior kerosene oil (SKO)," he adds.
-
After serving the company for almost 24 years, the face of Shell in India, Vikram Singh Mehta will step down as chairman this October as he turns 60.
-
Amidst protests and bandhs against the recent hike, the government rolled back petrol prices by Rs 2 on Saturday. However, this may not be the end of woes. PK Goyal, Director-Finance of IOC says that oil companies will keep adjusting rates and will review petrol price again on June 15.
-
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.
-
Even though there is a growing sense that OMCs use a non-transparent formula to calculate under-recoveries, PK Goyal, director of finance at IOC strongly disagrees to these statements.
-
S Hajra, chairman and managing director of Shipping Corporation of India (SCI) in an interview to CNBC-TV18 clarified that Shipping Ministry has not raised any concerns regarding SCI’s profitability.
-
Ashok Punj, managing director, PSL in an interview to CNBC-TV18 said that the level of enquiries and tenders is picking up which indicates that the market is turning to a more positive trend this year.
-
PK Goyal, Director Finance of IOC tells CNBC-TV18 that the increase in petrol prices had little to do with rupee depreciation.
-
Reports suggesting another petrol price hike by oil marketing companies came in today, however, PK Goyal, director-finance of Indian Oil Corporation denies these reports.
-
After bagging an order worth Rs 42 crore from Indian Oil Corporation (IOCL), Nitin Khara, the company’s chairman and managing director says there are possibilities to win more such repeat orders in the near future.
-
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.
-
In an interview to CNBC-TV18, RS Butola, Chairman of IOC said that the company may reduce petrol prices if crude falls. Post government’s move, under recovery cut will be by Rs 130 crore day and a total of 33000 crore, Butola explained.
-
No longer able to withstand high crude prices, Chairman RS Butola, in an exclusive on CNBC-TV18 said that while prices were expected to fall, they haven't, which has led them to increase prices.
-
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.
-
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.
-
In an interview with CNBC-TV18, PK Goyal, Director-Finance, IOC said that if the subsidy share on upstream companies is increased then it would be a positive news for the downstream companies.
-
The government has increased upstream subsidy share to 38.5% of its total subsidy in this fiscal, reports CNBC-TV18 quoting sources. It is learnt that due to this move, upstream oil companies will have to bear Rs 30,000 crore in FY11.
-
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.
-
Dharmesh Mehta, Enam says, divestment targets are looking realistic. “I am very confident that it will be achieved,” he adds.
-
IOC director finance SV Narasimhan said average import price for crude stands at USD 110 to USD 111 for Indian companies. He expects the Finance Minister to roll back 5% custom duty and also issue cash subsidy.
