Finance ministry pins hope on 50% cut down in oil subsidy

The Finance Ministry has asked cash rich PSUs like Coal India, ONGC and Oil India to consider buying government equity in other state-run firms to help achieve Rs 40,000 crore disinvestment target in the current fiscal. "We have written to all cash rich PSUs ...

With the Finance Ministry having diverted Rs1,14,986 crore meant for replenishing the Oil Industry Development Fund (OIDF) into addressing its fiscal deficit concerns, the Petroleum Ministry which was banking heavily on the corpus to finance the ...

Indian Oil Corporation has informed that upon elevation as Secretary, Department of Social Justice and Empowerment, Ministry of Social Justice and Empowerment, Shri Sudhir Bhargava, Govt. Nominee Director has ceased to be a Director on the Board of Indian Oil ...

News Delhi, May 23 : The international crude oil price of Indian Basket as computed/published on Thursday by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas declined to US$ 101.07/per barrel (bbl) on May 22.

Oil companies want the Government to allow them to on what is called the cost, insurance and freight (cif) basis, without requiring any approval from the Shipping Ministry. The move is expected to eventually help more foreign flagged vessels to ship ...

Indian Oil agrees to sell jet fuel to Air India at an 8% discount, says an aviation ministry official Bloomberg The discounts from the government may help Air India undercut competitors struggling with fuel prices that are as much as 60% higher than ...

NEW DELHI--A top Indian cabinet panel will soon discuss a proposal for raising domestic natural gas prices, the oil minister said Wednesday, a closely watched issue that is likely to affect both investors and end-users. In January, a panel of ...

NEW DELHI, May 6 -- Finance Minister Shankar Koirala, who is in the Indian capital for the annual meeting of the Asian Development Bank, told the Post on Sunday that the Nepal government has started considering other options as the construction ...

(Financial Express (India) Via Acquire Media NewsEdge) Taking cue from mobile number portability, the oil ministry is working on a plan to push this facility to LPG connections. The move will cut the hassle of switching LPG connections from one oil ...