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Moody's expects govt to reduce fuel subsidy bill

Last Updated: Tuesday, July 01, 2014, 19:44

Rating agency Moody's expects the government to reduce its fuel subsidy bill through a gradual process that in turn will lead to higher product prices and prove credit positive for oil marketing companies.

ONGC pays Rs 272,721 cr in fuel subsidy

Last Updated: Tuesday, June 03, 2014, 17:41

State-owned Oil and Natural Gas Corp (ONGC) has paid a whopping Rs 272,721 crore in fuel subsidy over the past 11 years, denting its profitability.

Losses on diesel dip to new low of Rs 2.80 a litre

Last Updated: Sunday, June 01, 2014, 12:11

The losses have fallen rapidly since March as prospect of a stable and decisive government under Modi helping rupee gain against dollar.

HPCL post Q4 profit of Rs 4,609 cr helped by fuel subsidy

Last Updated: Wednesday, May 28, 2014, 19:25

State-owned Hindustan Petroleum Corp Ltd (HPCL) Wednesday reported a better than expected fourth quarter net profit of Rs 4,609.24 crore after it got lumpsum fuel subsidy.

Oil cos to pay $11.4 bn fuel subsidy for 2013/14: Source

Last Updated: Thursday, May 22, 2014, 22:49

India has ordered oil companies to provide USD 11.4 billion subsidy for 2013/14 to help cover losses of state retailers that sell fuels at cheaper rates - a jump of 12 percent from the previous year, a source with knowledge of the matter said on Thursday.

Fin Min gives Rs 10,000 cr as subsidy to fuel retailers for Q3

Last Updated: Tuesday, February 11, 2014, 23:42

IOC will get Rs 5,172.87 crore while Bharat Petroleum Corp Ltd (BPCL) will get Rs 2,499.39 crore.

Clear understanding that fossil fuel subsidies must go: Mayaram

Last Updated: Wednesday, February 05, 2014, 15:07

India cannot afford fossil fuel subsidies in perpetuity and there is clear understanding that these must go, a top Finance Ministry official has said Wednesday.

ONGC to pay Rs 13,764 crore as fuel subsidy in Q3

Last Updated: Tuesday, January 28, 2014, 14:09

The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.

OECD chief asks nations to phase out fossil fuel subsidies

Last Updated: Friday, January 24, 2014, 19:02

Countries should work towards phasing out fossil fuel subsidies worth billions of dollars every year that encourage carbon emissions, the chief of OECD, a grouping of mostly developed nations, Angel Gurria said Friday.

Cabinet note on capping subsidy share of upstream oil cos soon

Last Updated: Friday, January 24, 2014, 16:44

Ministry of Petroleum and Natural Gas will go to the Cabinet soon seeking a minimum USD 65 per barrel price for state oil and gas explorers like ONGC.

India to rely on 2014-15 budget for oil subsidies: Fitch

Last Updated: Monday, November 18, 2013, 13:05

Fitch Ratings on Monday said the Indian government will have to depend on its FY 2014-15 budget to fund part of the current financial year’s oil subsidies bill.

HPCL profit dips 86% in Q2 on lower subsidy, margin drop

Last Updated: Tuesday, November 12, 2013, 15:38

Hindustan Petroleum Corp (HPCL) on Tuesday reported an 86 percent drop in second-quarter profit after it received lower fuel subsidy and refining margins dropped.