Cancun (Mexico): India and China will account for most of the growth in demand for oil this year, which is expected to rise by 900,000 barrels per day, even as oil exporters

The three new oil refineries will create 30 million tonnes of fresh capacity in a mar- ket which already has a major surplus capacity.
On Monday, three engineering firms announced new projects that they had bagged in the past few days. Nothing uncommon at this time of the year.

The government is seriously considering de-regulation of auto-fuels, which will increase the prices of petrol by Rs 6 per litre and diesel by Rs 4.06 per litre.

Ajay Modi & Jyoti Mukul / New Delhi March 20, 2010, 0:27 IST

The government may link petrol and diesel prices to market prices in 2010-11 and introduce a graded system of subsidy-sharing, with the petroleum ministry taking the view that the Kirit Parikh committee report be made the basis for next year

Bharat Jhunjhunwala

Ajay Modi / New Delhi March 11, 2010, 0:21 IST

Even before the start of the new financial year, the spectre of rising losses during 2010-11 has begun to haunt the three state-controlled oil marketing companies that account for over 90 per cent of the country