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Non-subsidised LPG price increased by Rs 21 per cylinder

Non-subsidised LPG price increased by Rs 21 per cylinder

Oil firms on Wednesday hiked prices of non-subsidised LPG, which consumers buy after exhausting their quota of 12, by Rs 21 per 14.2-kg bottle.

ATF price hiked by 12%; non-subsidised LPG rate cut by Rs 61.5 per cylinder

ATF price hiked by 12%; non-subsidised LPG rate cut by Rs 61.5 per cylinder

Non-subsidised cooking gas (LPG) now costs Rs 513.50 in Delhi as against Rs 575 previously.

Oil service firms jostle for India orders amid global spending cuts

State-run Oil and Natural Gas Corp (ONGC) plans to boost its capital spending by more than a fifth to 362.49 billion rupees ($5.7 billion), in stark contrast to analysts` forecasts for energy firms globally to cut spending by a fifth in 2015.

Oil firms will decide on price revision: Pradhan

As per the practice of revising rates every fortnight, state fuel retailers were expected to announce a cut in petrol and diesel prices yesterday as global rates had fallen by about 4 percent. However, they skipped the revision.

Oil firms face Rs 10,000 cr inventory loss, depreciating rupee

Indian Oil Corp (IOC) and other state-run fuel retailers have piled up inventory loss of over Rs 10,000 crore which together with depreciating rupee has severely strained their finances ahead of a revision in petrol and diesel prices.

Govt to offload 5% stake in ONGC next month, may get Rs 18K cr

The government is likely to divest 5 percent stake in ONGC in the first week of November, which may fetch about Rs 18,000 crore to the exchequer, a top finance ministry official said today.

Govt oil subsidy bill to be cut by over 60% in FY15

With international oil prices dropping to multi-year lows, government's oil subsidy bill is likely to be slashed by over 60 percent in the current fiscal.

IOC reports Rs 961-cr net loss in December quarter

Indian Oil Corp, the nation's largest oil firm, Thursday reported a net loss of Rs 961.45 crore in the December quarter after the government paid less than half of the due oil subsidy, negating gains made from foreign exchange.

Oil firms challenge CCI jurisdiction in petrol pricing probe

The Competition Commission of India (CCI) is probing suspected unfair practices by state-run oil marketing companies in setting petrol prices, which has been deregulated by the government.

Oil cos demand one-time hike in diesel price

With 12 percent drop in rupee value against the US dollar making imports costlier, state- owned oil firms have demanded a one-time steep increase in diesel rates to make for the widening losses.

FM pegs fuel subsidy for current fiscal at Rs 20,000 crore

A day after agreeing to dole out a record Rs 100,000 crore in fuel subsidy for 2012-13, Finance Minister P Chidambaram on Thursday said cash payouts to oil firms this fiscal will be just Rs 20,000 crore.

Oil firms hike auto LPG prices by Rs 6 per litre

Liquefied Petroleum Gas (LPG) used as fuel in automobiles, called Auto LPG, will cost Rs 49.72 per litre as against Rs 43.65 per litre price till last month, according to Indian Oil Corp, the nation's largest fuel retailer.

Oil cos may not raise fuel prices today

State-owned oil companies' losses on petrol sales have climbed to Rs 7.65 per litre but they may not raise fuel prices on Saturday pending a clarification from the government on duty reduction and subsidy compensation.

Oil firms ask for tax incentives in Budget

An association of private and PSU oil companies has demanded a slew of tax incentives, including income tax holiday for natural gas production and extending the same for oil refineries by another five years.

Oil cos likely to rise petrol, diesel rates after state polls

Oil firms had last revised petrol prices on December 1 after which rates have not been changed because of Assembly Elections.

Pak Taliban demand Rs 400 million from oil firms

The Pakistani Taliban have threatened to attack installations of Shell Pakistan and the state-run Pakistan State Oil.

State-run OMCs' borrowings up 24% to Rs 120,000 cr in FY'12

State-owned oil marketing companies are virtually living off borrowed money as their losses on auto and cooking fuel sales have forced them to take loans to meet even day-to-day expenses.

Obama vows to end cozy ties between govt, oil firms

Latest oil spill in Gulf clearly shows the system failed badly, said Obama.

ONGC, oil firms halt operations in western offshore

ONGC suspends drilling operations in the western offshore while other oil firms took steps to protect their installations from a tropical cyclone in Arabian Sea.