Saurabh Kumar

After BS III vehicles ban, India moves 100 per cent to BS IV fuel standard

Starting April 1, around 53,500 petrol pumps run by the state-owned oil marketing companies (OMCs), apart from those run by private operators Reliance, Essar and BP, will sell the higher specification diesel and petrol across

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Despite fare hikes, Indian Railways likely to miss target

The flexi-fare system and differential pricing launched by Indian Railways (IR) earlier this year has since led to significant — though not steep — increase in passenger revenues from the “reserved categories”.

Industry News

BS IV fuel: Good news for petrol/diesel buyers, prices not to rise, say oil companies

The process of rinsing dealer storage tanks, pipelines and depots started around January, say executives at oil majors.

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After Supreme Court bans BS III vehicles, IOC Chairman V Ashok says ‘Cost of BS VI fuel will go up’

B Ashok, chairman of India’s largest oil marketing company IOC, will retire at the end of May 2017 after serving the company for 37 years.

Markets News

Big relief: Cairn India’s Barmer oil & gas block among 10 granted extension

The private oil explorer has been seeking extension of the production sharing contract (PSC) for this field, with reserves of 318.31 MMT of oil and oil equivalent of gas, since 2009. The PSC was due to expire on May 14, 2020.

Industry News

Beleaguered ONGC expects higher gas prices to give boost in face of falling production

ONGC, which accounts for 60% of the 90 million standard cubic metre per day current output, registered 1,773.12 mmscm of provisional gas production for February.

Economy News

To boost fare revenue, Indian Railways may allow private passenger trains to use its tracks once DFCs become operational

The Indian Railways’ freight-loading target for 2017-18 is 1,165 mt, a meagre increase of 71.5 mt from the revised estimate for 2016-17.

Economy News

Oil companies’ mergers: Indian Oil Corporation chairman B Ashok says ‘Worthwhile to look at the possibilities’

Supporting the government’s decision to create integrated domestic oil companies, Indian Oil Corporation (IOC) chairman B Ashok on Monday said the company would look at all possibilities of mergers and acquisitions.

Economy News

Even as ONGC set to invest Rs 30,000 cr in FY18, oil output likely to fall, but gas supply to rise

Despite state-owned ONGC likely to keep its capital expenditure budget at R30,000 crore in FY18

Economy News

ONGC not to buy out private partners of GSPC even if deal is inked

Even if ONGC is able to close out its deal to buy 80% of the Gujarat government’s GSPC stake in the DDW fields in the Krishna-Godavari Basin in FY18, it does not plan to buy out its private sector partners.

Industry News

ONGC set to reverse falling trend in drilling exploratory wells in 2017

Reversing a fall in the number of exploratory wells being drilled, state-run ONGC expects an increment in the number this financial year compared with last year.

Economy News

Dedicated Freight Corridors: End is nigh for freight woes

After a prolonged delay due to issues ranging from environmental clearances to land acquisition, work on the Dedicated Freight Corridor projects is on an even keel, with the first stretch of the Western DFC likely to be opera

Economy News

Oil giant in the making: ONGC may ink one of the biggest PSU M&As in 2017-18 to buy HPCL

Among various permutations and combinations being weighed, sources said ONGC could buy out the government’s 51.11% holding in HPCL by paying partly in cash and partly by allocating additional shares in the oil explorer.

Economy News

Demonetisation: In crackdown, Income Tax dept finds petrol pump owners laundering money

The findings were part of the survey conducted by the I-T department, leading to a conclusion that some of the fuel pump operators may have indulged in widespread involvement in manipulated conversion of unaccounted cash held

Economy News

Narendra Modi govt’s target of 20% gas energy mix by 2025 set to hit high-cost hurdle

The NDA government expects the share of natural gas in the energy mix of India to be 20% by 2025 compared with 11% in 2010, as stated by the Petroleum and Natural Gas Regulatory Board (PNGRB) in its Vision 2030 document.

Economy News

ONGC fields to be pushed into more production enhancement contracts

Following the sustained and steady fall in production from both onshore and offshore fields of oil major ONGC since 2006-07, the Directorate General of Hydrocarbons (DGH) plans to push the company into more production enhance

Economy News

India’s quest for energy security threatened by falling investments

Oil minister Dharmendra Pradhan’s visit to the US to showcase and drum up investment opportunities in India could not have come at a more opportune time.

Economy News

Demonetisation and credit, debit cards payments: Relief for oil companies, MDR charge cost to be borne by Centre

The cost of merchant discount rate (MDR), borne by oil marketing companies at the instance of the Reserve Bank of India (RBI) since the note ban, may be shifted to the government, with retrospective effect.

India News

Ujjwala Plus: Oil marketing companies to float NGO for donations

India’s oil marketing companies (OMCs) — Indian Oil, Bharat Petroleum and Hindustan Petroleum — are in the process of floating a not-for-profit organisation.

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After 400 A1-, A-class stations, Indian Railways to redevelop 212 C-class suburban stations too

Indian Railways has also selected 212 C-class suburban stations to be redeveloped and has roped in consultancy firm EY for transaction advice.

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Indian Railways to redevelop 212 C-class suburban stations

Indian Railways has also selected 212 C-class suburban stations to be redeveloped and has roped in consultancy firm EY for transaction advice.

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Good news on economy: Indian Railways freight offloading shows ‘healthy growth’ after 2-year gap

Indian Railways’ freight loading has seen a dramatic increase since late January, recovering from a trough of almost consistent negative year-on-year growth.

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ONGC gets gas price guarantee from Gujarat, set to pave way for conclusion of GSPC deal

ONGC has been given an assurance by the Gujarat government that the national explorer will get at least $6/mmBtu for the gas from the Deen Dayal-West (DDW) block in the Krishna Godawari basin in the first year of production.

Industry News

Bacteria that turns oil into compost; all you want to know

Even before Dr SSV Ramakumar could submit the joining report as the director (research and development) for Indian Oil Corp (IOC), he received a call from the petroleum ministry, and was handed a herculean task.

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