With petrol and diesel prices touching multi-year highs, Oil Minister Dharmendra Pradhan today said the government is keeping a close eye on international prices but said there is no going back on free market pricing.
Indian Oil Refiners Are Investing Rs 30,000 Crore For Upgrading To BS VI Technology: SSV Ramakumar, IOC
India has just launched the high efficiency BS VI grade of petrol and diesel in a bid to cut vehicular emissions. However, However, the improved fuel quality will have a marginal impact on emissions until the launch of the complimentary BS VI compliant automobile engines
India has raised the prices of locally produced natural gas by 6% to $3.06 per million metric British thermal units (mmBtu) for the April-September period in line with the rising international rates.
India`s Bharat Petroleum Corporation Ltd (BPCL) plans to build a $3 billion petrochemical unit to serve the Mumbai region, a company official said, to profit from the country`s expected surge in demand for petrochemicals as its economy expands.
Oil prices in India at retail level are completely decontrolled. If crude prices go higher you will have to pay more and if oil prices go lower, you will have to pay less.
Demand for diesel in India is set to hit a record in 2018 as the government targets massive infrastructure spending in the fiscal year that starts April 1, with Prime Minister Narendra Modi seeking a second term in elections in 2019.
The Supreme Court Monday asked the Centre to consider if it was possible to roll out BS-VI fuel in thirteen metro cities by April 2019.
The work on the country’s first high-speed bullet train between Ahmedabad and Mumbai is on in full swing with the designing of bridges and tunnels progressing well, a senior official has said.
Chennai-based IMC Ltd has won oil regulator PNGRB’s nod to lay a natural gas pipeline from Kakinada in Andhra Pradesh to Nellore in Tamil Nadu.
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, may have to bear an impact of Rs 4,200 crore per annum due to non-availability of input tax credit under Good Service Tax (GST) on procurement of services and capital goods, oil minister Dharmendra Pradhan said.