The Appellate Tribunal for Electricity (ATE) on Wednesday issued notices to the three PSU oil marketing companies IndianOil (IOC), Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) on petition

The Unique Identification Authority of India (UIDAI) will take up the implementation of the innovative direct transfer of subsidy scheme on a pilot basis in Mysore from the second week of this month.

The UIDAI has informed all banks that it will start crediting the subsidy amount to the beneficiaries’ bank accounts online with respect to 30 LPG distributors in Mysore city, Chairperson of the State-Level Bankers’ Committee M G Sanghvi said here on Wednesday.

Forced to scale down petroleum retail operations, Reliance Industries Ltd and Essar have taken their predatory pricing complaint against government oil marketing companies (OMCs) to the Appellate Tribunal for Electricity.

In July, the PNGRB (petroleum and natural gas regulatory board) had dismissed a plea of these private fuel retailers against government oil marketing companies. Though the two companies are pursuing the case, Shell India has decided to withdraw.

New Delhi GAIL India has moved the Supreme Court challenging the Appellate Tribunal for Electricity order that upheld the PNGRB’s decision to accept the technical bid of the Gujarat State Petronet-led consortium for laying the R5,000-crore Mallavaram-Bhopal-Bhilwara-Vijaipur gas pipeline project.

GSPL, which currently operates about 2,000 km of pipelines in Gujarat, has a 52% stake in the consortium, with Indian Oil Corp holding 26%, and Bharat Petroleum Corp and Hindustan Petroleum Corp having 11% each. The grouping had emerged as the lowest bidder for the project, ousting GAIL.

Petrol pricing may officially be out of the government’s control, but a veiled intervention by the government has resulted in Indian Oil Corp and other state-run oil marketing firms Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) differing on what is the best solution. BPCL and HPCL see IndianOil's call for moving into a price control regime as a “retrograde step”.

The government's fuel pricing policy led IndianOil, India’s largest oil marketing company, to post the biggest-ever quarterly loss at Rs 22,451 crore in the April-June period. While the oil marketing companies are compensated for revenue losses on diesel, cooking gas and kerosene, they are forced to take losses on account of petrol on their books.

New Delhi After three consecutive price cuts in petrol since the first week of June, oil marketing companies IOC, HPCL and BPCL on Monday raised the price by 70-89 paise a litre citing increase in global oil prices and movement in the rupee-dollar exchange rate.

With this price revision, petrol price in New Delhi will cost R68.48 per litre, as against R67.78 a litre earlier. Petrol price in Mumbai has been increased by 88 paise to R74.23 per litre while in Kolkata, the fuel will cost R73.61 per litre. In Chennai, the price has been raised by 88 paise to R73.16 per litre.

Mumbai The consortium comprising Gujarat State Petroleum Corporation (GSPC), Oil and Natural Gas Corporation (ONGC), Bharat Petroleum (BPCL) and Oil India (OIL) is likely to sweeten its bid for Bri

Do you have more than one cooking gas connection at home? If yes, you better watch out.

Aims to unseat Maharashtra from second spot in country

The State would soon dislodge Maharashtra from the second spot in biofuel production in the country, by increasing its production to 200 million litres by this year end, said Y B Ramakrishna, executive chairman of Karnataka State Biofuel Development Board (KSBDB) on Thursday. Presently, Uttar Pradesh and Maharashtra occupy the top two slots.

New Delhi The sharp fall in petrol prices in Asian markets paved the way for oil marketing companies to reduce petrol prices by R2.46 per litre to R3.22 per litre to provide a much needed relief to consumers. This is the second consecutive price cut by the oil marketing companies — IOC, HPCL and BPCL — after the steepest petrol hike ever on May 24 by R7.54 per litre.