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Govt slaps $579 mn additional penalty on RIL

Govt slaps $579 mn additional penalty on RIL

Last Updated: Monday, July 14, 2014, 16:09

With this, the total penalty on RIL for missing the target in four fiscal years beginning April 1, 2010 now stands at a cumulative USD 2.376 billion.

Government slaps $579 mn additional penalty on RIL

Government slaps $579 mn additional penalty on RIL

Last Updated: Monday, July 14, 2014, 15:53

The total penalty now stands at USD 2.37 billion. The penalty in the form of disallowing costs incurred on the field is for missing the target in 2013-14.

Gas allocation to be rejigged, CGD projects to get 1st priority

Last Updated: Monday, July 07, 2014, 16:05

Presently, urea-manufacturing fertiliser plants have the first right over the domestically produced gas, followed by LPG plants and power stations.

Oil Ministry mulling proposal to raise LPG prices by Rs 250 per cylinder

Last Updated: Friday, July 04, 2014, 15:42

The ministry is preparing a draft note for consideration of the CCPA on pricing of diesel, kerosene and LPG, official sources said here.

Oil Ministry orders inquiry into GAIL pipeline fire

Last Updated: Friday, June 27, 2014, 12:21

Oil Minister Dharmendra Pradhan has ordered a high-level inquiry into the GAIL pipeline fire in Andhra Pradesh that killed at least 15 persons.

Cabinet defers decision on gas price hike by 3 months

Last Updated: Wednesday, June 25, 2014, 18:41

In a much needed relief for the common man, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday put off the decision to hike gas price by three months stating that the new government should be given more time to decide on it.

Govt to announce new gas price by July 1

Last Updated: Thursday, June 05, 2014, 19:01

The government is likely to hike natural gas rates from July 1 after a new price formulation is approved by the Cabinet, a top Oil Ministry source said on Thursday .

Monthly diesel price hikes likely to continue

Last Updated: Thursday, May 29, 2014, 15:26

"There is no reason why the monthly increases should be discontinued. They will continue till under-recoveries (losses) on diesel are wiped out," Oil Ministry official said.

CAG slams OilMin, DGH for poor monitoring of RIL KG-D6 block

Last Updated: Wednesday, May 28, 2014, 23:12

The Comptroller and Auditor General of India (CAG) has slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over Reliance Industries' KG-D6 block which led to losses of several hundred millions of dollars to the exchequer.

Govt directs ONGC to pay record Rs 56,384 cr in subsidy

Last Updated: Friday, May 23, 2014, 16:02

The government has ordered ONGC to pay a record Rs 56,384 crore in subsidy to help state-owned fuel retailers cover part of the losses they incurred.

ONGC losing focus; raising LPG cap mistake: Oil Min

Last Updated: Thursday, May 22, 2014, 18:51

In a presentation prepared for the incoming Narendra Modi-government, the ministry lists national oil companies losing focus on domestic exploration as well as legal disputes around signed contracts with private explorers.

Gas pricing: HC asks Centre,RIL to co-operate with ACB in probe

Last Updated: Tuesday, May 20, 2014, 17:14

The court also directed the Petroleum Ministry and Reliance Industries Ltd (RIL) to cooperate in the probe.