India's state-run upstream oil firms will bear nearly 40 percent of the 1.38 trillion rupee ($25 billion) cost of retail fuel subsidies for the 2011/12 year, a government source said on Monday.

Hindustan Petroleum Corporation Ltd (HPCL) expects to expand the Vizag Refinery plant to 15 million tonnes by 2015-16, a top official of the state-run oil firm said.

The Petroleum Ministry has sought cash subsidy of Rs.49,872 crore from the Finance Ministry to compensate state-owned oil companies for selling fuel at government-controlled rates in the January-March quarter.

Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation together lost Rs.1.48 lakh crore on selling diesel, domestic LPG and kerosene at rates lower than cost in 2011-12, an Oil Ministry official said here.

BPCL, HPCL and Indane furnished a list of consumers with more than one cylinders

If you are one of those LPG customers, ‘enjoying’ the facility of more than one gas connection, here is some serious trouble coming your way. The oil marketing companies (OMCs) - Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indane - have come together to weed out multiple gas connections.

If you have multiple liquefied natural gas (LPG) connections or one along with a piped natural gas (PNG) connection, be ready to have your cylinder blocked if you do not surrender it. The three government oil marketers blocked as many as 3.8 million LPG connections by March 2012.

Oil marketing companies IndianOil, Bharat Petroleum and Hindustan Petroleum together blocked nearly 2.9 million LPG connections belonging to customers having more than one connection across states. Similarly, around 900,000 LPG connections with consumers having PNG connections were blocked.

Plan to revise prices every fortnight to recover . 5k cr of revenue losses.

June may turn out to be the luckiest month for government oil marketing companies for the third year in a row.

Gujarat State Petronet Ltd (GSPL) and three public sector oil companies — Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) — have entered into joint venture agreements for setting up three cross-country natural gas transmission pipelines.

According to a statement filed with the Bombay Stock Exchange, the GSPL-led consortium executed the agreements on April 30 for developing the pipelines of 3,995 km.

State cites delay in project execution, cancels allotment of 1,500 acres

In a setback to state-owned HPCL, the Andhra Pradesh government has cancelled the land allotted to the company for setting up its proposed Rs 45,000-crore petrochemical complex at Visakhapatnam, due to delay in executing the project, a government official has said. Hindustan Petroleum Corporation Ltd (HPCL) was allotted 1,500 acres in 2007 for setting up the petrochemical complex in the proposed Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) coming up between Kakinada and Visakhapatnam on the east coast.

The Rs 21,500-crore Guru Gobind Singh Refinery near Bathinda — the largest investment Punjab has seen since Independence — will formally be inaugurated by Prime Minister Manmohan Singh on April 28.