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  • Oil Ministry to send proposals to Cabinet on Kirit Parikh Committee recommendations this month Dec 02, 2022 08:07 PM IST

    Oil Ministry to send proposals to Cabinet on Kirit Parikh Committee recommendations this month

    The final decision on the recommendations may be slightly different from what it appears now, said a senior ministry official

  • Oil ministry to divert gas from industries after CNG, piped gas prices jump 70% in a year Aug 11, 2022 03:27 PM IST

    Oil ministry to divert gas from industries after CNG, piped gas prices jump 70% in a year

    The allocation for city gas operators like Indraprastha Gas Ltd in Delhi and Mahanagar Gas Ltd in Mumbai has been increased from 17.5 million standard cubic meters per day to 20.78 mmscmd.

  • Oil Ministry freezes gas allocation, prices of CNG, PNG spike Apr 17, 2022 10:36 AM IST

    Oil Ministry freezes gas allocation, prices of CNG, PNG spike

    Besides the shortfall in the allocation, the prices of APM gas for CNG and PNG have been revised from USD 2.90 per million British thermal unit to USD 6.10, an increase of 110 per cent.

  • Finance Ministry to reassess current excise levels as OMCs incur heavy losses Feb 24, 2022 05:10 PM IST

    Finance Ministry to reassess current excise levels as OMCs incur heavy losses

    The discussion has taken place at a time when benchmark Brent crude price has surged past $105 a barrel for the first time since 2014 after Russia's attack on Ukraine exacerbated concerns about disruptions to global energy supply.

  • 9% ethanol blending in petrol achieved; 20% target by 2025: Hardeep Singh Puri Feb 03, 2022 08:09 PM IST

    9% ethanol blending in petrol achieved; 20% target by 2025: Hardeep Singh Puri

    Presently, 10 per cent ethanol, extracted from sugarcane or surplus foodgrain, is required to be blended or mixed in petrol (meaning 10 per cent of ethanol mixed with 90 per cent of petrol) with a view to cutting oil import dependence and provide farmers with an additional source of income.

  • Oil Ministry opposes NITI Aayog’s proposal to monetise core assets Jun 23, 2021 01:06 PM IST

    Oil Ministry opposes NITI Aayog’s proposal to monetise core assets

    The ministry has instead put forward non-core assets worth Rs 17,500 crore from PSUs

  • No plan to split GAIL: Oil Minister Dharmendra Pradhan Mar 15, 2021 06:42 PM IST

    No plan to split GAIL: Oil Minister Dharmendra Pradhan

    GAIL is India's biggest natural gas marketing and trading firm and owns 60 percent of the country's 26,284-km gas pipeline network, giving it a stranglehold on the market.

  • Natural gas prices cut by steep 26%; huge dent in ONGC revenues Mar 31, 2020 06:25 PM IST

    Natural gas prices cut by steep 26%; huge dent in ONGC revenues

    Oil Ministry's Petroleum Planning and Analysis Cell (PPAC) said the bulk of India's existing gas production will be priced at USD 2.39 per million British thermal unit for the six-month period beginning April 1, down from USD 3.23 as of now.

  • Oil Ministry justifies LPG price hike to spike in global rates Feb 14, 2020 08:55 AM IST

    Oil Ministry justifies LPG price hike to spike in global rates

    "The LPG price is derived based on the international market price for the previous month," the ministry said in a statement.

  • Oil Ministry moves Cabinet note for splitting GAIL; pipeline business may be sold later Feb 04, 2020 03:32 PM IST

    Oil Ministry moves Cabinet note for splitting GAIL; pipeline business may be sold later

    GAIL is India's biggest natural gas marketing and trading firm and owns more than 70 per cent of the country's 16,981-km pipeline network, giving it a stranglehold on the market.

  • IOC eyes asset monetisation via SVP route, may approach PE, VC funds: Report Jan 03, 2020 02:15 PM IST

    IOC eyes asset monetisation via SVP route, may approach PE, VC funds: Report

    The funds raised would be used to expand operations and reduce borrowings

  • India's fuel demand rose 3.2% in December Jan 11, 2019 03:37 PM IST

    India's fuel demand rose 3.2% in December

    Consumption of fuel, a proxy for oil demand, totalled 18.51 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

  • What spike in crude could mean for downstream oil cos – will govt. go back on its words? Apr 12, 2018 07:45 PM IST

    What spike in crude could mean for downstream oil cos – will govt. go back on its words?

    Brewing geopolitical tensions coupled with fears of trade wars and inventory cuts are expected to keep crude up in the near term

  • Petrol price hits 4-year high, diesel at highest level Apr 01, 2018 12:42 PM IST

    Petrol price hits 4-year high, diesel at highest level

    State-owned oil firms, which have been since June last year revising auto fuel prices daily, raised petrol and diesel rates by 18 paise per litre each in Delhi

  • Keeping close watch on petrol, diesel rates, says Oil Minister Dharmendra Pradhan Jan 18, 2018 08:30 PM IST

    Keeping close watch on petrol, diesel rates, says Oil Minister Dharmendra Pradhan

    Petrol price rose to Rs 71.56 per litre in Delhi today, the highest since August 2014. Rates in Mumbai are almost touching Rs 80.

  • India's fuel demand rose 7.5% in December Jan 10, 2018 10:31 AM IST

    India's fuel demand rose 7.5% in December

    Consumption of fuel, a proxy for oil demand, totalled 17.39 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

  • Over 60,000 petrol pumps in India, 45% jump in 6 years Nov 29, 2017 03:36 PM IST

    Over 60,000 petrol pumps in India, 45% jump in 6 years

    With 60,799 outlets dispensing petrol and diesel at the end of October, India is behind only US and China in number of petrol pumps, data available from Petroleum Planning & Analysis Cell of the Oil Ministry.

  • Oil ministry seeks 5% cut in value added tax from states on petrol, diesel Oct 04, 2017 04:17 PM IST

    Oil ministry seeks 5% cut in value added tax from states on petrol, diesel

    "By taking cognizance of the whole scenario, the prime minister has given direction to the finance ministry and the oil ministry to look into this aspect and rightly, I don't see this as an issue of loss or gain," Pradhan told reporters.

  • French energy giant 'Total' to sign $4.8 bn gas deal with Iran: Oil ministry Jul 02, 2017 03:21 PM IST

    French energy giant 'Total' to sign $4.8 bn gas deal with Iran: Oil ministry

    This will be one of the biggest foreign deals since transactions were eased.

  • OilMin forms 'super-board' to monitor ONGC, OIL performance Jun 05, 2017 03:23 PM IST

    OilMin forms 'super-board' to monitor ONGC, OIL performance

    Being dubbed as 'super-boards', the committees will be headed by the ministry's upstream nodal authority DGH, and will review and monitor performance of areas given to Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) on nomination basis.

  • India plans home delivery of petroleum products Apr 22, 2017 02:06 PM IST

    India plans home delivery of petroleum products

    About 350 million people come to fuel stations every day, it said. Annually 25 billion rupees (USD 387.00 million) worth of transactions takes place at fuel stations.

  • India to cut Iranian oil purchases in row over gas field Mar 31, 2017 08:51 PM IST

    India to cut Iranian oil purchases in row over gas field

    Indian state refiners will cut oil imports from Iran in 2017/18 by a fifth, as New Delhi takes a more assertive stance over an impasse on a giant gas field that it wants awarded to an Indian consortium, sources familiar with the matter said.

  • OilMin tweaks norms for allotment of gas agencies, petrol pumps Mar 29, 2017 07:45 PM IST

    OilMin tweaks norms for allotment of gas agencies, petrol pumps

    The Oil Ministry has tweaked norms for allotment of LPG sale agencies to private individuals, raising the upper age limit of applicants to 60 years and lowering educational criteria to just 10th pass.

  • Natural gas prices to be marginally hiked for the first time in two years Mar 28, 2017 02:01 PM IST

    Natural gas prices to be marginally hiked for the first time in two years

    Premium gas price will also see a revision, rising to USD 5.80 per unit from the current USD 5.30 per unit.

  • Oil refiners may start selling BS VI fuel ahead of govt deadline Feb 27, 2017 04:28 PM IST

    Oil refiners may start selling BS VI fuel ahead of govt deadline

    The new more environment friendly fuel will be brought out earlier, as it takes several months to completely phase out the existing fuel which has high sulphur content.