On December 22, 2014 22:54 (IST)
Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said the Organization of the Petroleum Exporting Countries (OPEC) would not cut production at a...
On December 21, 2014 20:55 (IST)
The Oil Ministry has informed the Prime Minister's Office (PMO) that a consortium-led by BG Group had caused a production loss of $5.6 billion in western offshore Panna/Mukta and Tapti oil and gas fields by not completing a committed work programme.
On December 16, 2014 01:31 (IST)
The government on Monday made it clear that Aadhaar number was not mandatory for transfer of subsidy amount of LPG cylinder and the option of providing a bank account is also available under the Direct Benefit Transfer of LPG (DBTL).
On December 15, 2014 08:32 (IST)
Japanese stocks fell on Monday after slumping oil prices toppled Wall Street shares, while investors drew little comfort from Prime Minister Shinzo Abe's landslide win in a snap election over the weekend.
On December 12, 2014 22:55 (IST)
A plunge of nearly half in oil prices could help Finance Minister Arun Jaitley reap a fiscal windfall of at least $12 billion (Rs 74,244 crore at 1 dollar = 61.8700 rupees) when he presents his Budget for 2015-16 in February, two government sources t...
On December 11, 2014 20:35 (IST)
Crude prices sank on Wednesday as OPEC forecast an increasing supply surplus in 2015, US crude inventories unexpectedly rose and OPEC's most influential voice, Saudi Arabia's oil minister, shrugged off the need for an output cut.
On December 11, 2014 18:51 (IST)
Comments by the Saudi Arabian oil minister shrugging off an output cut on Wednesday renewed worries of a global glut that has slashed oil prices by more than 40 per cent since June.
On December 10, 2014 23:51 (IST)
Oil prices tumbled 5 per cent on Wednesday, pushing US crude to five-year lows near $60 per barrel after data showed a spike in American inventories and Saudi Arabia's oil minister reiterated that he had no plans to cut output.
On December 09, 2014 16:07 (IST)
The CBI is looking into case of cheating and fraud against directors of Biotor Industries, manufacturer of castor oil, for allegedly submitting forged documents to three banks -- Bank of Maharashtra, Oriental Bank of Commerce and Central Bank of Indi...
On December 03, 2014 21:02 (IST)
A day after the government hiked excise duty on petrol and diesel for the second time in three weeks, Oil Minister Dharmendra Pradhan on Wednesday said the move was meant to shore up revenue to meet budget deficit without burdening the consumer.
On December 03, 2014 17:48 (IST)
Any move to lessen its discount burden will be favoured by investors as the government plans to sell a 5 per cent stake, worth about $2.5 billion, in ONGC as part of its divestment programme.
On November 27, 2014 22:24 (IST)
Asked whether the oil producer group had decided to reduce production, Saudi Arabian Oil Minister Ali al-Naimi told reporters: "That is right."
On November 27, 2014 17:13 (IST)
Saudi Oil Minister Ali al-Naimi and his United Arab Emirates counterpart, Suhail bin Mohammed al-Mazroui, said on Wednesday they expected the oil market to stabilise itself. A Gulf OPEC delegate told Reuters the Gulf producers had reached a consensus...
On November 26, 2014 17:29 (IST)
International expert D&M will by June next year submit its report on claims of gas by Oil and Natural Gas Corp (ONGC) from its KG basin find seeping into the neighbouring gas field operated by Reliance Industries Ltd (RIL), Oil Minister Dharmendra Pr...
On November 25, 2014 20:33 (IST)
The government has yet to decide on the dates for selling a 10 per cent stake in state-controlled Coal India and 5 per cent in Oil and Natural Gas Corp, a government official said after a meeting with the Finance Minister on Tuesday.
On November 14, 2014 07:30 (IST)
The decline compounded Wednesday's losses stemming from comments by Saudi Arabia's oil minister that showed little will by the kingdom to cut output when the Organization of the Petroleum Exporting Countries meets on Nov. 27.
On November 13, 2014 01:06 (IST)
Food Minister Ram Vilas Paswan has said that his ministry wants to double the import tax on crude edible oils and raise that on refined oils by 50 per cent, but is waiting for other ministries to give their views before passing its recommendation to ...
On November 06, 2014 21:40 (IST)
A modified direct cash subsidy transfer scheme for LPG consumers will be launched in 54 districts from November 15 and all over the country from January 1.
On November 04, 2014 00:34 (IST)
The Centre will soon write to the states to bring uniformity in the Value Added Tax (VAT) on oil products so that benefits of price cuts filter down to the masses, Union Petroleum and Natural Gas Minister Dharmendra Pradhan said on Monday.