HC asked it to pay Rs 10,000 cr in past royalty dues ONGC

Oil and Natural Gas Corp (ONGC) today said it would appeal in the Supreme Court against a Gujarat High Court order asking it to pay Rs 10,000 crore in past royalty dues, saying it cannot pay the levy on revenue it hasn't earned.

Suggests immediate raise by Rs 4 to 5 a litre for the fuel; report likely to be submitted on Wednesday

Diesel prices should be immediately raised by Rs 4-5 a litre, the Kirit Parikh Committee has recommended, while favouring continuation of the existing pricing principles for controlled petroleum products.

The country needs a financial model that can give the poor access to expensive power

We were standing in the only street of a small village called Mohda. Located in the forested region of Chhattisgarh, the village had no access to roads and markets. The women of the village surrounded me.

Autorickshaw drivers using adulterated petrol have only five days to take corrective steps or else they run the risk of having their vehicles impounded and their registration cancelled.

State govt has sent proposal to Centre, seeking to give LPG connection to all cardholders who currently use kerosene

In an effort to make the state capital Bangalore a "kerosene-free" city, the Karnataka government has sent a proposal to the Centre, seeking to give LPG connection to all cardholders who currently use kerosene.

The Supreme Court on Tuesday issued notice to the Centre on the Tamil Nadu government’s writ petition challenging the Centre’s decision to reduce allocation of kerosene to the State by 55 per cent from June 2011, from 65,140 kilo litres to 29,060 KL.

A three-judge Bench of Chief Justice Altamas Kabir and Justices Vikramajit Sen and Kurian Joseph issued notice after hearing Additional Advocate General Subramonium Prasad, appearing for Tamil Nadu.

The green cess, the bill for which was passed in the just-concluded legislative assembly, is expected to contribute between 100 crore to 120 crore to the treasury annually, official sources said.

Prime minister's office wants OMCs to bear credit subsidy for remaining 8 subsidised units on reimbursement basis

Even as the Centre is accelerating the Direct Benefits Transfer (DBT) scheme for subsidised LPG cylinders, oil marketing companies are unlikely to benefit much from it. This is because the Prime Minister's Office has proposed that the government credit subsidy for only one cylinder into a beneficiary's account. Subsidy on the remaining quota of eight liquefied petroleum gas (LPG) cylinders would be borne by oil marketing companies (OMCs), which the government would reimburse later.