The rise in petrol and diesel prices has been making news for the last week or so. Change in fuel price indeed has far reaching effects as its impact ranges from daily budget to macroeconomics like inflation numbers.
Oil Minister Dharmendra Pradhan said he has requested the Ministry of Finance to bring petroleum products under the ambit of Goods and Services Tax (GST) in the interest of consumers.
Oil and Natural Gas Corporation, Tata Housing Development company were declared winners for Project of the Year 2017 award, instituted by Project Management Institute here, today.
State-owned oil marketer HPCL has drawn up investment plans of Rs 7110 crore for business growth in the current fiscal.
Recently, Union Minister for Road Transport and Highways Nitin Gadkari inaugurated India’s first refinery plant in Pune that will produce fuel oil from rice and wheat straw, cotton stalk, cane trash and corn cobs.
As States Agree To Cap Vat On Natural Gas At 5%, Uniform Petroleum Tax May Not Remain A Distant Dream
States have agreed to cap value-added tax (VAT) on natural gas at 5 per cent and lower it on other petroleum products such as petrol and diesel used by the manufacturing sector as an input.
The strong demand for oil products will continue and may stay above 5 per cent in the medium term, driven by demand for three key items – petrol, diesel and cooking gas, said a report.
India will offer larger areas with higher oil and natural gas reserves in the next auction of discovered fields later this year as Prime Minister Narendra Modi’s government seeks to curtail rising crude oil imports.
Petronet LNG Ltd, India’s biggest importer of gas, will partner with Japan’s Mitsubishi and Sojitz Corp to set up Sri Lanka’s first liquefied natural gas (LNG) terminal near Colombo, its CEO Prabhat Singh said today.
After enjoying the benefits of low oil prices, we should also be ready to shell out more on trend reversal