India’s strategic petroleum reserves stand at 55 percent of available underground storage capacity of 5.33 million tonnes, a top government official told Reuters on Monday. He did not wish to be identified as he was not officially authorised to speak on the subject.
Share prices of oil marketing companies (OMCs) were trading lower on Monday as international oil prices rose as much as 19% in early Asian trade, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and soared tensions in the Middle East.
The massive drone strike on the world’s largest crude-processing facility operated by Saudi Arabia’s Aramco has global ramifications, particularly for countries in Asia.
A successful indigenously manufactured rolling stock product has become the victim to an intense inter-departmental fight, finally giving way to foreign players for import in the Indian Railways.
Fuel prices in India remain stubborn despite a massive slump in global crude oil rates in recent months. Ideally, this drop in international oil prices should reflect in cheaper petrol and diesel back home – but that’s not happening.
Government companies have earned only 14 paise on the investment of Re 1 in the financial year 2018, almost half of the return received in 2009. The analysis of the rate of return on capital employed (ROCE) shows that government companies have lost almost fifty per cent of their efficiency in the last ten years.
New solar power installations, one of the fastest growing and most vibrant business segments in the country for the past few years due to liberal incentives, is facing a slowdown.
With Prime Minister Narendra Modi propping the Vande Bharat Express as a symbol of people’s aspirations in his Independence Day speech on Thursday, the railways’ ambitious project, which has been in limbo, is likely to get a boost.
The Competition Commission of India (CCI) has rejected a complaint against the Oil and Natural Gas Corporation (ONGC) which alleged abuse of its dominant position concerning regarding certain contractual rules for employing offshore support vessels.
Budget 2019: Railways get budgetary allocation of Rs 65,837 crore; govt to focus on PPP mode for faster development
Railways received a budgetary allocation of Rs 65,837 crore and highest ever outlay for capital expenditure amounting to Rs 1.60 lakh crore in the Budget for the year 2019-20 presented on Friday, which includes a whopping 200 per cent increase in funds for passenger amenities.