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 Petrol price cut by Rs 1.42 per litre, diesel by Rs 2.01 a litre

Petrol price cut by Rs 1.42 per litre, diesel by Rs 2.01 a litre

Petrol price was on Sunday cut by Rs 1.42 a litre and diesel by Rs 2.01 per litre, the third reduction in rates this month on global cues.

Odisha may offer Posco the JV option with OMC

Prime Minister's Principal Secretary Nripendra Misra on Tuesday held a meeting with Mines Secretary Balvinder Kumar, Steel Secretary Rakesh Singh, Odisha Chief Secretary G C Pati and Posco India CMD Gee Woong Sung on the steps that can be taken to save the project, sources said.

Odisha govt targets to double OMC's mineral production by 2019

 The Odisha government on Saturday decided to enhance the production capacity of the Odisha Mining Corporation (OMC) to 20 million tonnes by 2019.

OMC shares drop after excise duty on petrol, diesel raised

Shares of three listed state-owned oil marketing companies (OMC) fell up to 4 percent at close today, after the government raised excise duty on petrol by Rs 2.25 per litre and by Re 1 a litre on diesel.

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

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.

Andhra court rejects Janardhana Reddy`s bail plea

The Andhra Pradesh High Court on Thursday dismissed the bail petitions of former Karnataka minister Gali Janardhana Reddy.

No relief for mining baron Janardhan Reddy; bail plea rejected

Special CBI Court dismissed the bail plea of mining baron and former Karnataka Minister Gali Janardhan Reddy, a key accused in the illegal mining case involving his Obulapuram Mining Company (OMC).

OMC to get interim custody of chopper owned by Janardhan Reddy

A local court granted interim custody of Bell-407 helicopter to Obulapuram Mining Company (OMC), owned by former Karnataka min Gali Janardhan Reddy

Posco ready to sacrifice export clause; new pact soon

Under the new clause, the steel giant will be allowed to swap up to 30 percent of the required iron ore within the country through the Orissa Mining Corporation (OMC), Mohanty said.

IAS officer arrested in OMC mining scam

The CBI arrested IAS officer Y Srilakshmi in connection with the scam involving
Obulapuram Mining Company (OMC).

CBI searches OMC`s office in Bellary

A CBI team carried out searches in the office of the Obulapuram Mining Company,
owned by Reddy brothers, here, and seized files and CDs, police said.

SC permits Reddy brothers to resume mining

SC on Monday allowed the Reddy brothers to carry out mining in Andhra Pradesh.

Reddys` OMC violated inter state boundary: SC panel

Committee headed by Survey of
India has told SC that the OMC owned by Karnataka ministers and mining
magnates Reddy brothers has violated norms by extending its
mining activities beyond the lease area.

OMCs may lose 45,000 cr for selling fuels below cost

State-run retailers IOC, BPCL and HPCL may lose about Rs 45,000 crore on selling auto and cooking fuels below cost this fiscal, two-third of which will be compensated by the government by issuing bonds.