Govt. got $510,000 as profit share from KG Crude Output
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
Articles Tagged "govt"
Crude Oil is likely to get duty recall
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
No fuel price hike till international crude breaches $70
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 [...]
Oilcos is seeing Red again as Crude Flares Up
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
Hindustan Petroleum Q4 net zooms 13-fold on good refining margin
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
Crude surged on economic data as OPEC stands pat
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
Cairn India, RIL sinks as Govt. eyes Cap on earnings
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
Govt. may impose Rs 900 cr oil cess on Cairn India
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
Iraq Kurds will commence Tawke Crude Exports June 1
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
Govt. will consider Cairn’s crude export from Rajasthan
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
