The government has received $510,000 as its share of profit petroleum on commercial production of the Krishna-Godavari (KG) block crude oil for seven months. For full story, click here
Continue reading "Govt. got $510,000 as profit share from KG Crude Output"
Thursday, June 18, 2009
The government declared that it may reimpose the duty on crude oil imports, its biggest source of Customs revenue before the levy was scrapped last year, as it looks for fresh revenue streams to rein in mounting fiscal deficit. For full story, click here
Continue reading "Crude Oil is likely to get duty recall"
Wednesday, June 17, 2009
The government may not raise pump prices of petrol and diesel until the average price of crude oil for domestic consumption breaches the $70-a-barrel mark. Petroleum minister Murli Deora stated: The government is unlikely to raise auto fuel prices immediately. It (rising prices of global crude oil) is certainly a matter of concern, but a [...]
Continue reading "No fuel price hike till international crude breaches $70"
Friday, June 12, 2009
State-run oil marketing companies like IOC, HPCL and BPCL are looking to the government for a revision in retail fuel prices with the current rally in global crude rates making them lose several crores every day. For full story, click here
Continue reading "Oilcos is seeing Red again as Crude Flares Up"
Tuesday, June 2, 2009
Hindustan Petroleum Corporation Ltd. declared a net profit of Rs 5,104.04 crore in the fourth quarter of 2008-09 on the back of good refining margin and the government issuing large oil bonds to cover for fuel losses. For full story, click here
Continue reading "Hindustan Petroleum Q4 net zooms 13-fold on good refining margin"
Thursday, May 28, 2009
U.S. crude oil futures surged on Thursday, pushed to a 2009 peak above $64 a barrel by better-than-expected economic indicators and OPEC leaving output steady ahead of government oil inventory data. For full story, click here
Continue reading "Crude surged on economic data as OPEC stands pat"
Tuesday, May 26, 2009
Oil exploration companies have lost ground on the note that the government might put a cap on profits by imposing additional tax on the earnings of crude oil producers as a part of a transparent and sustainable subsidy-sharing system for the oil sector. For full story, click here
Continue reading "Cairn India, RIL sinks as Govt. eyes Cap on earnings"
Tuesday, May 12, 2009
Cairn India, the local arm of UK-based Cairn Energy, is few days away from making history and bringing Rajasthan’s Barmer district into the spotlight by producing oil but the milestone will come at a price. For full story, click here
Continue reading "Govt. may impose Rs 900 cr oil cess on Cairn India"
Friday, May 8, 2009
Crude oil exports from the Tawke oil field in Iraq’s northern Kurdish region will begin on June 1, the largely autonomous region’s government. For full story, click here
Continue reading "Iraq Kurds will commence Tawke Crude Exports June 1"
Wednesday, April 15, 2009
The government announced that it is mulling allowing Cairn India to export crude oil from the Rajasthan fields, having found buyers of even less than one-third of the company’s planned peak output from the blocks. For full story, click here
Continue reading "Govt. will consider Cairn’s crude export from Rajasthan"
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Sunday, August 2, 2009