oil-subsidy - Latest News on oil-subsidy | Read Breaking News on Zee News

Oil subsidy falls short of Rs 42,200 cr for March quarter: Moody's

Last Updated: Wednesday, February 19, 2014, 18:44

Moody's also warned that failure to fully reimburse OMCs will be credit negative.

Govt to roll over Rs 35,000 crore of oil subsidy to 2014-15

Last Updated: Tuesday, February 18, 2014, 08:57

The government will roll over Rs 35,000 crore of oil subsidy from the current financial year into 2014-15, when an additional Rs 30,000 crore has been provided.

HPCL reports Rs 1,734-cr net loss in Dec quarter

Last Updated: Tuesday, February 11, 2014, 21:06

Hindustan Petroleum Corp Ltd (HPCL) on Tuesday reported a net loss of Rs 1,734 crore in the December quarter after the government paid less than half of the due oil subsidy.

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.

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.

Govt sanctions Rs 17,772 crore cash subsidy for oil companies

Last Updated: Thursday, November 07, 2013, 19:12

Government Thursday sanctioned Rs 17,772 crore cash subsidy to fuel retailers like IOC to cover for half of the revenues they lost on selling diesel and cooking fuels below cost in the September quarter.

BPCL Q2 net profit at Rs 5K crore on govt paying part oil subsidy

Last Updated: Friday, November 09, 2012, 15:41

State-owned Bharat Petroleum Corp Ltd (BPCL) on Friday reported net profit of Rs 5,034.79 crore for the July-September quarter, as against Rs 3,229.27 crore loss in the year-ago period, after the government released part of the fuel subsidy.

Govt caps upstream oil cos' subsidy share at $56 per barrel

Last Updated: Tuesday, October 09, 2012, 22:19

"Their contribution will be capped at USD 56 per barrel," Oil Minister S Jaipal Reddy said at the Economic Editors Conference here.

Oil marketing cos to get cash subsidy: Finance Secretary

Last Updated: Friday, March 30, 2012, 18:51

Finance Secretary R S Gujral on Friday said oil marketing companies, which have been facing huge under recoveries on account of subsidised diesel, LPG and kerosene, will get cash subsidies today.

Obama presses lawmakers to cut oil tax breaks

Last Updated: Friday, March 30, 2012, 00:14

US President Barack Obama pressed lawmakers on Thursday to cut tax breaks for the petroleum sector, saying they can "stand with big oil companies, or they can stand with the American people."

Oil Min seeks Rs 40,000 cr cash subsidy for FY'12

Last Updated: Wednesday, March 28, 2012, 12:26

The Petroleum Ministry has sought an additional Rs 40,000 crore in cash subsidies for the current fiscal to compensate fuel retailers for losses incurred on diesel and cooking fuels, even as Oil Minister S Jaipal Reddy gave no indication of a fuel price revision soon.

Obama seeks halt to tax subsidies for oil industry

Last Updated: Saturday, March 17, 2012, 17:59

Expressing concern over the rising gasoline prices and America's increasing dependence on foreign oil, US President Barack Obama on Saturday sought an end to the massive subsidies to oil companies and said the nation needs to develop alternative sources of energy.