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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.

Diesel prices hiked by 50 paise per litre, effective from midnight

Last Updated: Saturday, May 31, 2014, 22:07

Diesel prices were Saturday hiked by 50 paise a litre, excluding state levies, the second increase in rates three weeks.

Diesel price hiked by 50 paise per litre

Last Updated: Saturday, May 31, 2014, 21:41

State-owned oil marketing companies on Saturday decided to hike the price of diesel by 50 paise per litre, to be effective from midnight.

Diesel price hiked by 50 paise per litre

Last Updated: Friday, January 31, 2014, 19:19

Oil marketing companies on Friday decided to hike diesel prices by 50 paise per litre, effective from midnight.

Petrol price hiked by 75 paise a litre, diesel by 50 paise

Last Updated: Friday, January 03, 2014, 19:20

Petrol price was Friday hiked by 75 paise and diesel by 50 paise a litre as rise in global oil rates and fall in rupee value increased the cost of production.

State-run oil firms' shares up on diesel price hike hopes

Last Updated: Thursday, December 26, 2013, 13:02

Shares of state-run oil marketing companies gain after a media report said the petroleum ministry was planning to propose a hike of 5 rupees in diesel prices.

Petrol pump retailers threaten to strike on Dec 24

Last Updated: Wednesday, December 18, 2013, 20:13

Tamil Nadu Petroleum Dealers Association, a member of the CIPDA, Wednesday said 40,000 petrol pump owners would be on strike country-wide on December 24 if their demands were not met.

Fitch sees govt pushing Rs 45000-cr oil subsidy to next fiscal

Last Updated: Monday, November 25, 2013, 19:27

The rating agency said out of the oil subsidies allocation of Rs 65,000 crore in the budget for this fiscal, the government has already given out Rs 45,000 crore to pay oil marketing companies for the subsidy gap incurred in FY13.

State-run oil companies rally after Iran deal

Last Updated: Monday, November 25, 2013, 11:34

Shares of state-run oil marketing companies gain after Brent crude drops more than USD 2 a barrel on Monday as supply fears ease following a breakthrough nuclear deal between world powers and Iran over the weekend.

Subsidy burden becoming 'backbreaking': ONGC

Last Updated: Friday, November 22, 2013, 13:30

Oil and Natural Gas Corporation Ltd (ONGC) has said subsidy burden is now almost becoming backbreaking, hinting subsidy bill for the upstream oil and gas major may swell.

Govt has to shift part of oil subsidy bill to next year: Fitch

Last Updated: Monday, November 18, 2013, 15:24

The government had allocated Rs 65,000 crore for petroleum subsidies in 2013-14, of which Rs 45,000 crore has already been utilised to pay the oil marketing companies to meet their subsidy requirement of previous financial year.

RBI in no hurry to shut forex facility for oil refiners: Rajan

Last Updated: Wednesday, November 13, 2013, 22:31

Seeking to ensure stability in the currency market, Reserve Bank Governor Raghuram Rajan Wednesday said the central bank will not hurriedly close a special window for oil marketing companies (OMCs) to buy dollars for crude oil imports.