NEW DELHI: The continued slide in crude oil prices in the international market has brought cheers to the loss making oil marketing companies (OMCs) with the Indian crude basket dropping below the $100-mark for the first time in the last six months.


The Union petrole um minister, Mr Murli Deora, said on Friday that international crude oil prices will have to fall further to trigger a retail price cut in the country.

Sujay Mehdudia

NEW DELHI: Notwithstanding the decline in international crude prices in recent weeks, Petroleum and Natural Gas Minister Murli Deora on Monday ruled out a cut in retail prices of petrol and diesel.

Rakteem Katakey / New Delhi August 26, 2008, 0:52 IST

Indian Railways, which are likely to post a cash surplus of Rs 31,000 crore in the current fiscal, should pay market rate for the diesel they consume, as they are one of the largest consumers of subsidised diesel that contributes significantly to the under-realisation losses, state-owned oil companies said in a letter to the petroleum ministry.

Sujay Mehdudia Ministry cites losses on account of under-recoveries NEW DELHI: Indicating a "crunch' in supply of petrol and diesel, the Petroleum and Natural Gas Ministry has asked the oil marketing companies (OMCs) to put on hold their plans to open new retail outlets. Citing losses on account of under-recoveries on sale of petrol and diesel, the Ministry has asked the OMCs, who own around 37,000 petrol stations around the country, to immediately stop expansion plans till further directions.

Govt Worried Ambani Feud May Affect Vote, Amar Cries Poaching Diwakar | TNN New Delhi: Mukesh Ambani, the head of India's biggest corporate house Reliance, met PM Manmohan Singh and other important government functionaries on Monday amid rising government anxiety about the raging Ambani feud adversely affecting the government's prospects in the impending trial of strength over the nuclear deal.

NEW DELHI: Terming the sudden spurt in international crude oil prices as

NEW DELHI: Union Petroleum and Natural Gas Minister Murli Deora on Wednesday said the Indo-U.S. nuclear civil cooperation deal was very much in the interest of the country as rising energy prices of fossil fuel had made it mandatory to tap other sources of energy in order to meet the rising demand for power.

New Delhi July 7: The government has asked PSU Oil Marketing Companies (OMCs) not to force consumers to buy branded fuels.

Macro-Economic Worries Cited; Outside Support Only; Demand Tough For Congress To Accept THE Samajwadi Party will demand a hefty price for sustaining the Manmohan Singh government