Saurabh Kumar

Heartburn for ONGC: For HPCL, majority owner is still the President of India with 0% stake

Though oil refiner-retailer HPCL was taken over by ONGC in January this year, the former is yet to recognise the upstream major as its promoter in the mandatory quarterly filings with the stock exchanges.

Industry News

OMCs make provisions for PMUY losses

State-run oil marketing companies (OMCs) classified a section of loans provided to beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) in FY18 as ‘doubtful’ as recipients did not ask for LPG refill for a year.

Industry News

Indian Railways’ testing borrowing limits, cost to double in 5 years

The Indian Railways’ (IR) debt servicing costs are set to rise at a much faster clip starting FY21 and might more than double in five years from now as repayment obligations concerning Dedicated Freight Corridor Corporation

Infrastructure News

Capex Plan: ONGC spared buyback obligation

The government has exempted state-owned explorer ONGC from the twin obligations of buying back its own shares and issuing bonus shares in the current fiscal.

ONGC, Capex Plan, ONGC shares, fiscal News

Diesel home delivery pilots to be scaled up – Check details here

Following the three successful pilots — one each by the state-run oil marketing companies (OMCs) — to deliver diesel at doorsteps, each of these firms will soon have eight such test projects.

Industry News

No takers for IRCTC’s e-bedroll

Railway passengers often complain about smelly blankets and dirty bedsheets provided in air-conditioned coaches, but they are not too happy with the alternative either, which is new bedding for which they have to pay.

Infrastructure News

LPG subsidy a distortion, provide fuel-agnostic cooking sop: NITI Aayog

The NITI Aayog has suggested to the Ministry of Petroleum and Natural Gas that eligible beneficiaries receiving subsidy on liquefied petroleum gas (LPG) should rather be given a 'cooking subsidy' through direct benefit transf

LPG subsidy, NITI Aayog, LPG gas, Ministry of Petroleum and Natural Gas, cooking subsidy, direct benefit transfer, Pradhan Mantri Ujjwala Yojana News

No service charge on e-tickets: IRCTC to get Rs 120 crore from Finance Ministry to make up for loss

In further relief to Indian Railway Catering and Tourism Corporation (IRCTC), the finance ministry has decided to pay Rs 120 crore to the railways arm to offset the losses due to waiver of service charge on tickets booked onl

railway, railway setor, railway industry News

US’ Iran Sanctions: India OMCs, OVL’s Farzad-B to take hit

Earlier, the US had toughened its stance, saying it expected “zero” import of Iranian oil from all countries including China and India, the two biggest importers of oil from the Islamic country.

India News

Hydrocarbon E&P: Changes mulled in royalty, cess paid in pre-NELP era

The government is of the view that current PSCs are very rigid in terms of time lines and there are ambiguities in several provisions affecting hydrocarbon exploration and production activities.

Economy News

Bilaspur-Manali-Leh rail line to be highest in the world, overtaking China’s Qinghai-Tibet Railway

Surveys are underway for four lines that would cost a humongous Rs 2 trn, with the defence ministry footing the bill.

Infrastructure News

US Sanctions Loom: Iran oil – India to go back to payment in rupees

India imports around 10% of its crude oil requirement from Iran and the Islamic nation is the third-largest supplier to India.

Economy News

Supply constraints hit Indian railways’ induction of freight wagons

The Indian Railways (IR) is not getting as many freight wagons as required to replace its older stock and deploy new rakes owing to supply constraints.

Infrastructure News

Railways’ goods sheds may become privately-managed freight terminals

Goods sheds of Indian Railways (IR), many of which are in a dilapidated and abandoned condition, may soon become revenue churners for the transporter.

Infrastructure News

Discovered Small Field second round delayed by two months

Bidding for the discovered small fields will now start in September instead of July.

ongc, hydrocarbons News

PMT row: RIL, Shell, ONGC told to pay £723,962 in interim

While Shell India and Reliance Industries hold 30% each in the PMT joint venture, ONGC holds the remaining 40%.

Industry News

Cairn’s Barmer PSC: Govt to challenge Delhi High Court verdict

Cairn's Barmer block was among the 10 that were granted extension under a new policy last year.

Cairn's Barmer PSC, cairn, delhi hc, government, vedanta cairn News

ONGC told to prove 50 pct KG basin fields in deep water

The price ceiling for gas produced from difficult fields (also called high-pressure high-temperature fields) was revised upward by 7.6% from $6.30 per MMBTU to $6.78 per MMBTU.

ONGC, KG basin fields, deep water News

Indian Railways’ non-fare revenue initiatives have turned damp squib

During 2017-18, the NFR segment contributed around Rs 8,600 crore compared with the target of Rs 14,000 crore.

indian railways, non fare revenue initiative, RDN, OOH, NFR policy News

Petrol, diesel price: Oil marketing companies follow norms, but enjoy commercial freedom

OMCs haven’t been fully passing on the increase in landed costs to consumers

fuel prices, diesel price, Oil marketing companies, BPCL, HPCL, IOC News

Station redevelopment programme: Railways seeks Cabinet nod for revamped policy

After a lot of deliberations with the ministry of finance and Niti Aayog, the ministry of railways has finally sent a note to the Cabinet on the ambitious station redevelopment programme, revamping the process approved earlie

Railways, Station redevelopment programme, indian railways, Niti Aayog, IRSDC, EPC model, railway ministry News

Costlier crude: Burden may fall again on ONGC, OIL

The ONGC stock fell 4.5% on Thursday to close at Rs 167.65 on the BSE.

Industry News

From billing efficiency to increase in revenues; here’s how smart meters can benefit consumers and discoms

India is rapidly working towards realising its vision of affordable and accessible 24x7 power. Already the third-largest conventional energy producer, India is building the world’s largest solar plants to achieve 175 GW of

Industry News

Rising oil prices: States make a killing, Centre gains little in terms of excise revenue

Though taxes are around 100% of the ‘base price’ of petrol or half the retail price (the case of diesel is comparable) and both the Centre and state governments treat the two auto fuels as a milch cow, it is only the stat

petrol, diesel, oil prices, economy News

Eight states/UTs ‘kerosene-free’ fuel’s use on rapid decline

Four more states/union territories around the national capital region have become ‘kerosene-free’, in what showed the success of the government’s drive to minimise usage of this fuel.

kerosine, oil sector News

Pain at the pump: Brace yourself for even costlier auto fuels

With oil turning costlier relentlessly — Brent crude went past $80 a barrel on Thursday, up 3.3% from a week ago and a three-and-half-year high, taking the cost of Indian basket to a prohibitive $76 a barrel — and the rup

fuel prices, fuel price hike, sanjiv singh, IOC, petrol hike, diesel hike News

No change of field, GEM Labs told; asked to apply afresh

Bengaluru-based GEM Laboratories has been told by the Directorate General of Hydrocarbons that its demand for allocation of a new hydrocarbon field, instead of Neduvasal in Tamil Nadu awarded under the first round of the Disc

GEM Laboratories, GEM, Bengaluru, bangalore, DSF policy News
Switch to Hindi Edition