Last Updated: Wednesday, October 23, 2013, 17:48
In a major development, Petroleum Ministry has allowed companies like Reliance Industries and Cairn India to start producing oil and gas from discoveries even before field investment plans are approved.
Last Updated: Friday, October 18, 2013, 16:01
The rupee, which opened strong in the morning, lost the ground after a media report said the government is considering closing the oil swap window.
Last Updated: Tuesday, October 15, 2013, 18:38
Petrol prices will remain unchanged this fortnight as oil companies on Tuesday decided to monitor movements in international oil rates and the value of the rupee before taking a decision.
Last Updated: Monday, September 16, 2013, 18:51
IOC and other oil firms have been paying LPG consumers in 54 districts up to Rs 500 to help them buy a 14.2-kg cooking gas refill at market price, which is more than double of Rs 410 per bottle rate in Delhi.
Last Updated: Saturday, August 31, 2013, 15:41
A 25 percent drop in rupee value has resulted in losses on diesel sales widening to Rs 10.22 per litre despite prices being raised by 50 paise a litre every month since January.
Last Updated: Saturday, August 31, 2013, 12:09
This is the sixth increase in rates since June and in all petrol prices have gone up by a massive Rs 9.17 per litre, excluding VAT.
Last Updated: Wednesday, August 28, 2013, 22:42
RBI on Wednesday opened a special window to help the three state-owned oil marketing companies needing about USD 8.5 billion every month meet their daily foreign exchange requirement in a bid to check the rupee's free fall.
Last Updated: Tuesday, August 20, 2013, 18:20
"The reason for this upward revision is the ongoing depreciation of the Indian rupee (about 10 percent since June) and rising crude oil prices (about 6 percent)," it said.
Last Updated: Tuesday, July 9, 2013, 19:00
State oil refiners, who are the biggest buyers of US dollars, agreed to implement the RBI order with immediate effect, sources with direct knowledge of the development said.
Last Updated: Monday, July 8, 2013, 20:20
State-owned oil firms are biggest buyers of US dollars, requiring USD 8-8.5 billion every month for import of an average 7.5 million tonnes of crude oil.
Last Updated: Thursday, July 4, 2013, 20:26
With rupee breaching the 60 per dollar mark, Finance Ministry Thursday discussed measures to control volatility and high fluctuations in the exchange rate with oil companies, who require large volumes of dollars for import of oil.
Last Updated: Monday, July 1, 2013, 18:33
While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
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