Chidambaram dubs imposition of taxes on fuel as 'cruel' in times of distress; says govt must borrow to meet deficits
Governments must borrow to meet their deficits and not impose higher tax burdens when economic activity has ground to a halt amid the coronavirus pandemic, senior Congress leader P Chidambaram said on Wednesday after the Centre and the Delhi government hiked taxes on petroleum products
Oil marketing companies shares drop up to 13% post govt hikes excise duty on petrol, diesel
Shares of oil marketing companies -- Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd -- on Wednesday plunged up to 13 percent, a day after a hike in excise duty on petrol and diesel
Govt to gain Rs 1.6 lakh cr additional revenues this fiscal from record excise duty hike on petrol, diesel
The cash-strapped government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record increase in excise duty on petrol and diesel, that will help make up for revenue it lost in a slowing economy and shutting down of businesses due to coronavirus lockdown
Coronavirus Outbreak: Oil PSUs to re-start over Rs 42,000 cr of projects as lockdown restrictions ease
State-owned oil firms will resume as many as 511 projects involving over Rs 42,000 crore of investment with immediate effect as the country partially exited from an unprecedented nationwide lockdown on Monday
Coronavirus Outbreak: Fuel sales slump 50% in first half of April; petrol down 64%, diesel 61%, ATF 94%
India's fuel consumption slumped by a record 50 percent in April as all petroleum products except LPG saw massive demand erosion following a nationwide lockdown halted economic activity and travel
Govt plans to fill strategic petroleum reserve by third week of May; to help refineries reduce excess crude
India plans to completely fill its strategic petroleum reserve (SPR) by the third week of May by moving about 19 million barrels into the sites by then, the managing director of the country’s SPR said on Tuesday
IOC gets first shipload of 1 million barrels crude oil from UAE to fill strategic reserves
India is capitalizing on low global oil prices to fill its underground strategic oil reserves, with the first shipload of 1 million barrels of crude oil from the UAE arriving at Mangalore as part of efforts to shore up supplies to meet any supply or price disruption
Airline, oil marketing stocks fall as crude prices surge; SpiceJet down 4.9%, IndiGo 4.7%
Airline and oil marketing stocks on Monday fell as crude oil prices surged after OPEC and its allies agreed to cut down on crude production
Coronavirus Outbreak: Petrol, diesel demand slumps 66% in April; ATF down 90% due to nation-wide lockdown
India’s fuel consumption slumped by over 66 percent in April as a nationwide lockdown halted economic activity and travel, which eviscerated demand
India to use low priced oil from Saudi Arabia, UAE and Iraq to fill strategic reserves
Capitalising on low global oil prices, India will fill its underground strategic oil reserves with oil from Saudi Arabia, the UAE and Iraq as it shores up supplies to meet any supply or price disruption
Coronavirus Outbreak: MRPL reduces production of diesel, petrol by half on lower demand
With the number of vehicles on roads falling sharply in the lockdown period due to the coronavirus spread, the public sector Mangalore Refinery and Petrochemicals Limited (MRPL) has cut down production of petrol and diesel by half
Coronavirus Outbreak: ONGC, IOC, other oil companies contribute over Rs 1,031 cr to PM CARES fund
Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and other public sector oil companies have contributed over Rs 1,000 crore to the Prime Minister CARES Fund to help in the fight against COVID-19 pandemic
Oil companies say no LPG shortage at all, delivering at least 40% more fuel now
National oil marketing companies have come out on Sunday allaying the fears of consumers about product shortages, saying there is absolutely no shortage of any fuel, especially cooking gas, which is being supplied to customers at their doorsteps
Health
State-run refiners reduce oil processing runs as demand tumbles after lockdowns; auto fuel, ATF to witness double-digit fall in March
Top refiner Indian Oil Corp and its subsidiary Chennai Petroleum has cut refinery runs by an average of 15 percent to 20 percent, sources familiar with the matter said.
Hindustan Petroleum buys 17.28% stake in Petronet MHB for Rs 185 cr; acquisition expected to be completed by 31 March
In a regulatory filing, HPCL said Petronet MHB Ltd had a networth of Rs 796.30 crore as of 31 March 2019.
Over Rs 1 lakh cr investment in oil, gas projects lined up in AP; to facilitate ease-of-living of citizens in state: Dharmendra Pradhan
The projects include Rs 26,264 crore modernisation of Visakhapatnam refinery by the second quarter of 2022-23, and Rs 68,000 crore in the development of offshore oil and gas fields, Pradhan said.
Advancements in smartphone technology have given a boost to podcasts but industry has more challenges to overcome
Today, over a million working professionals spread across the world listen to internal corporate podcasts, a tool that is the voice of the organisation and its people.
New fuel retail policy: Licensees have to set up minimum 100 petrol pumps, 5% of it in remote areas
India's new liberalised petrol pump norms require licensees to set up a minimum of 100 outlets with at least 5 percent of them in remote areas
Govt gives go-ahead to biggest privatisation drive; to sell stake in BPCL, SCI, Concor to help bridge a widening fiscal gap
In the biggest privatisation drive-ever, the Union Cabinet on Wednesday approved sale of government's stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor
Nifty near all-time highs, should ETFs be the investment vehicle of choice in India; read this and more on Moneycontrol Pro
The index multiples have surged as stock prices have gone up despite the fact that earnings, for the Nifty pack, have seen annualised growth between 5-6% over the same period.