The Central government will on Saturday launch a country-wide LPG Panchayat as a backup to the Pradhan Mantri Ujjwala Yojana to distribute LPG connections in the rural areas where conventional fuel is used for domestic purposes, an official said.
LPG (Liquefied petroleum gas) price on Friday was increased over Rs 7 per cylinder. With this, the orders of government are being followed which states the price of cooking gas should be increased per month so that subsidies would be hammered down by this fiscal-end.
State-owned Indian Oil Corporation has initiated a massive capacity expansion of its gas and piped natural gas networks in urban areas, Chairman Sanjiv Singh said at the company’s 58th AGM, in Mumbai on Tuesday.
IOC and the Odisha government have agreed on modalities to resolve the tax dispute following intervention from petroleum minister Dharmendra Pradhan. As part of the understanding reached between the two sides, the Odisha government has agreed to restore part of the tax incentives.
With formal resolution of tax dispute relating to its Paradip refinery now being just a matter of time , the oil PSU plans to invest additional Rs 52,000 crore in expanding capacity of the project and setting up petrochemical complex.
The first lot of two million barrels costs $ 100 million, but given the volume being contemplated by Indian companies, this new development is expected to boost the bilateral oil trade to USD 2 billion.
Seven oil and gas firms are expected to report a 17 percent decline in revenue in the quarter-ended June over the previous three months. Net profit is expected to remain flat, while earnings before interest, depreciation and amortisation may rise 27 percent, according to Bloomberg consensus estimates.
Household LPGconsumers of Telangana and Andhra Pradesh have locked horns, albeit unknowingly, in the race for opting out of subsidised kitchen cylinders in wake of PM Narendra Modi’s “give-it-up” calls.
Indian Oil Corporation today launched 450-kg Indane Jumbo LPG cylinder in the Indian market. Indane Jumbo called the “Mini-Bulk” is available in minimum footprint size with a flow rate of up to 2,000 kg/hour and does not require license to use.
Fuel crisis looms large in Tripura over past three days, as Tanker Association has been agitating over the demand of 30 per cent hike of transportation cost following introduction of daily pricing policy of petroleum products
Modi-Trump Summit has successfully open the avenues of natural gas cooperation between the U.S. and India. The scope of this cooperation is based on the premise of the U.S. shale gas boom and technology advancement in hydrocarbons, which can not only help India to increase its domestic gas production but also increase its share of LNG exports to India.