Saurabh Kumar

To pay back ONGC Videsh, Venezuela’s PDUSA offers oil in lieu of cash

Venezuela’s state-owned PDVSA has offered to supply crude oil to India’s government-run petroleum refineries towards $449-million dividend it owes to ONGC Videsh (OVL).

Industry News

ONGC says will resist Centre’s move to hand over 11 discovered fields to private operators

The State-run ONGC has said it will resist the government’s reported move to hand over its 11 “discovered” hydrocarbon fields to private operators for their expeditious development.

ONGC, hydrocarbon fields, private operators, hydrocarbon deposits, petroleum and natural gas News

Free LPG cylinder scheme spins-off this massive benefit; see storm it cooked up

The Narendra Modi government’s flagship Pradhan Mantri Ujjwala Yojana (PMUY), which has provided more than 3 crore liquefied petroleum gas (LPG) connections to poor households over the last one and a half years.

The Narendra Modi government’s flagship Pradhan Mantri Ujjwala Yojana (PMUY), which has provided more than 3 crore liquefied petroleum gas (LPG) connections to poor households over the last one and a half years. (Image: IE) News

OVL’s associated gas plant to start by December 2018

ONGC Videsh (OVL) expects its associated petroleum gas plant coming up at its loss-making fields acquired from Imperial Energy in Russia’s Tomsk region to become operational by December 2018.

ONGC Videsh, Imperial Energy, Russia Tomsk region, Petroleum gas plant News

Pradhan Mantri Ujjwala Yojana: 3 cr LPG connections already issued, Oil Min seeks to serve another 3 cr beneficiaries

The ministry is expecting an additional grant of Rs 4,800 crore over and above the already budgeted Rs 8,000 crore to issue 3 crore additional connections, on top of the 5 crore targeted earlier

Pradhan Mantri Ujjwala Yojana, Oil Ministry, liquefied petroleum gas, LPG connections, petroleum and natural gas, National Democratic Alliance News

Railways, to raise safety standards, takes this massive step, trashes rule that barred competition

To widen the base of vendors and increase competition, Indian Railways has decided to do away with the rule wherein vendors approved by the Research Designs and Standards Organisation (RDSO) were the only ones eligible to bid

Railways, safety standards, massive step, trashes rule, Indian Railways, Research Designs and Standards Organisation, Railway Board News

Railways stations redevelopment: May look at 12 pct rate of return for investors, Piyush Goyal moots

Indian Railways may look at a rate of return (RoR) of 12% on its investments under the revamped station redevelopment programme as the transporter plans to be a co-investor along with private developers.

Indian Railways, Piyush Goyal,railway minister,  rate of return , Phoenix Group, IRSDC, Tata Realty, CREDAI, DLF News

Revamp of Railway stations: Multi-level platforms at major cities to decongest traffic

Firms bagging contracts to redevelop railway stations may have to design construction in such a way that the national transporter’s plan for multi-level platforms at some of the busiest stations are not pre-empted.

Indian Railways station revamp, Indian Railways stations, Indian Railways, redevelop railway stations, multi-level platforms, Zurich City, railways, redevelopment of indian railways News

Railways passenger fares: Flexi-fares in Rajdhani, Duronto, Shatabdi trains somewhat offset volume fall

Earnings from the passenger segment stood at around Rs 47,500 crore for financial year 2016-17, a tad below the revised target of Rs 48,000 crore, but better than the Rs 45,376 crore achieved a year earlier.

Railways, Railways passenger fares, Flexi-fares, Rajdhani, Duronto, Shatabdi News

Power plants leave no coal for others; cement, steel industries suffer

Keeping in mind the low-stocks scenario, it was earlier decided by the government that Coal India Ltd (CIL) would load at least 250 rakes daily, out of which 215 rakes are supposed to be allotted to the power sector.

Power plants, coal industry, cement industry, steel industry News

Railways to utilise rake lie-overs, extend routes of 50-plus trains

There are two types of lie-overs in railways — first, a train reaches its terminal railway station and undergoes maintenance before returning to its originating station, and second, wherein it does not undergo maintenance b

Railways, trains News

IRCTC gets big relief from Finance Ministry on losses from online ticket bookings

The government plans to list at least three other railway PSUs — Indian Railways Finance Corporation, Ircon International and RITES — within the current financial year. The valuation of IRCTC has dipped as its main source

IRCTC, railway bookings, Finance Ministry, online ticket bookings News

Indian Railways to allow private freight terminals on its land; what it stands to gain

The transporter reckons that PFTs on railway land would help reduce encroachment of its land apart from increasing earnings through licensing fee.

Indian Railways, Railways, private freight terminals News

Railways takes big step under Piyush Goyal to shut printing presses; redeployment of staff in offing

The Indian Railways has decided to close down all the printing presses it owns and redeploy the staff employed in these units to other departments.

Piyush Goyal, Indian Railways News

Railways stations revamp: New PPP model has more for investors; IRSDC to play critical role

A revamped public-private partnership (PPP) model to redevelop railway stations will see more attractive terms for private investors while Indian Railways’ (IR) agency — Indian Railway Station Redevelopment Corporation (I

railways station upgradation plans, railways upgradation plans, railways in public private partnership News

Good news for country: ONGC finds this major clue in Kutch

In what the company is terming the “first direct evidence” of hydrocarbon reserves in the Kutch offshore basin, state-run ONGC has come across flows while drilling the GK-28-12 well.

ongc, ongc kutch, ongc kutch findings, hydrocarbon reserves in Kutch News

ONGC told to re-submit DoC for ultra-deep find

Upstream petroleum regulator Directorate General of Hydrocarbons (DGH) has asked state-run explorer ONGC to review the commerciality of its ultra deep-sea find UD-1 in the Bay of Bengal’s KG-DWN-98/2 (KG-D5) block.

ONGC, petroleum regulator, DG, Hultra deep-sea find, declaration of commerciality, oil explorer, Reliance Industries, oil output, oil output in india, oil production, oil production in india News

In a first, Railways to float global tender to buy rails as SAIL can’t keep up with demand

For the first time, Indian Railways will float global tenders to buy rails, as Steel Authority of India (SAIL), its sole supplier, can’t meet the transporter’s increased demand. Railway minister Piyush Goyal, who took cha

Railways, indian railways,  SAIL, rajya sabha, Rail procurement, piyush goyal, railway official, global tenders to buy rails,Rajen Gohain,  Railway minister News

IOC looks to use Total’s Bangladesh LPG terminal, may open office there

To expand its business in Bangladesh, IOC is looking to utilise global energy giant Total’s LPG terminal in Chittagong to supply cooking gas to the north-eastern part of India.

Indian Oil Corp, IOC, global energy giant, liquefied petroleum gas, LPG, Bangladesh Petroleum Corporation News

IOC evaluated OIL & GAIL for merger, but no decision yet, says Sanjiv Singh

The Indian petroleum industry is going through a phase wherein on the one side it is saddled with tax woes arising out of the goods and services tax, and on the other is facing flak for the rising petrol and diesel prices.

IOC, Oil and Gail, Oil and Gail merger, Sanjiv Singh, Indian petroleum industry, GST, diesel prices, IOC Chairman News

Petrol, diesel prices: ‘India’s fuel rates have not violated global pattern’

If retail sale price of petrol and diesel is as high as it was when the global crude price was twice as high, state-run oil marketing companies haven’t much do about it: Their profits haven't jumped. Of course, these firms

retail sale price of petrol, diesel price, VAT, freight on board, Planning Commission, Arab Gulf market, Euro IV-compliant diesel, Petroleum Planning and Analysis Cell data News

IOC plans to expand Paradip refinery capacity by 3-4 MT

With the dispute between the Odisha government and Indian Oil Corp (IOC) over the value-added tax (VAT) being resolved, the oil marketing firm has firmed up plans to increase its investment in the state including expansion of

Odisha government, Indian Oil Corp, VAT,  GAIL, BS VI project,  PCPIR, Paradip News

GST interim returns: Over 30 lakh paid tax in August, matching July trend

While about Rs 92,300 crore was collected as GST for July till August 20, a similar amount has been paid by the taxpayers till Wednesday for August GST, sources said.

GST, GST interim returns, tax News

ONGC makes massive new discovery at Mumbai High; find may pep up production for years

Though the zones at the well WO 24-3 are still under assessment, the new find is believed to be big enough to pep up the firm’s production in coming years. Mumbai High in the Arabian sea annually produces about 10 mtoe. The

ONGC, Mumbai High News

Soon, get petrol-diesel delivered at your home; IOC finalises container design

In April 2017, petroleum minister Dharmendra Pradhan had through a tweet said the ministry was exploring ways for home delivery of petroleum products such as diesel and petrol.

petrol diesel, fuel, IOC, Petroleum and Explosives Safety Organisation News

Indian Railways’ move to reconsider diesel loco is not good; here’s why

The transporter plans electrification of 24,400 km of routes by 2020-21 in a phased manner of which 4,000 km are to be electrified in 2017-18.

Indian Railways, diesel loco, Piyush Goyal News

Passenger safety in Railways paramount, Piyush Goyal orders LHB coaches manufacturing to be doubled

LHB coaches are safer compared with ICF coaches as the former does not pile up in case of a derailment. Coach pile-up increases the chances of casualties in case of accidents.

Railways, Piyush Goyal, LHB coaches News