While the Samajwadi Party works out the contours of its political alliance with the Congress

Petrol pumps in the greater Guwahati area will remain closed for 24 hours from 5 am of July 9 in protest against the move of the oil companies to phase out normal petrol and replace the same with the premium brand, which is costlier. The Greater Guwahati Unit of the North East India Petroleum Dealers' Association, in a release, said that as the next phase of agitation, the petrol pumps of Guwahati would stop purchasing any petroleum product from the oil companies for three days with effect from July 12.

Petroleum refinery unit to come up near Cuddalore Chennai CHIEF Minister M Karunanidhi on Wednesday laid foundation for two major projects - Petroleum Refinery Project near Cuddalore and Thiruchopuram port project - with a total investment of Rs 7,290 crore. The Chief Minister unveiled the plaques marking the foundation for both projects at the Secretariat. The two projects would generate direct employment opportunities for 5,700 persons and indirect employment for 11,300 persons.

A majority of retail outlets of Hindustan Petroleum Corporation (HPCL) in Punjab and Haryana are facing an acute shortage of fuel for the past 10 days. The stock-transfer agreement with Indian Oil Corporation (IOC) has reportedly not been honoured by HPCL in other parts of the country (Bihar and Andhra Pradesh), forcing the IOC to restrict fuel supply to HPCL in the region.

Marketing Cos Unofficially Tell Pump Owners To Push Branded Fuel Our Bureau MUMBAI CONSUMERS are still being forced to tank up with premium or branded petrol and diesel at most pumps, more so if they are driving a premium car or utility vehicle (UV). The government hiked fuel prices last month to bail out the oil companies, but that does not seem to have helped improve the supply situation.

DOMESTIC airlines are lobbying hard to fly overseas to avail the benefit of cheaper aviation fuel and keep spiralling operating costs under control. International carriers pay 35% less for fuel compared to domestic carriers. Aviation fuel prices have soared and with no immediate relief in sight, the government is taking a liberal view and may grant overseas flying rights to domestic carriers who are in the business for less than five years. Current rules don't allow such airlines (Kingfisher, SpiceJet, Indigo and GoAir) to fly abroad. The move will reduce their operating costs.

THE government has directed Reliance Industries (RIL) to sell gas from the D6 Krishna Godavari basin in accordance with the marketing priorities determined by the government. RIL has been directed to give priority to fertiliser plants, followed by LPG and existing power plants while allocating gas. The company has also been directed to sell gas based on the formula approved by the government.

Private infrastructure company GMR will replace state-owned Oil and Natural Gas Corporation (ONGC) in the proposed Rs 31,000-crore refinery and petrochemical plant at Kakinada in Andhra Pradesh. The exit follows the country's largest oil and gas producer's claims over the past year that the project was unviable. ENTRY STRATEGY # GMR will hold 51% in the Kakinada Refinery and Petrochemical Ltd (KRPL), the company implementing the project # No tax sops to be extended to GMR

State-owned exploration giant Oil and Natural Gas Corporation on Monday decided to exit the Rs 25,600 crore Kakinada refinery, petrochemicals and SEZ project. It will be replaced by infrastructure major GMR Group which would get 51% equity in the venture, that had also been eyed by the Hinduja group.

Thomas W Evans The US president has the power to attack, and perhaps destroy, the Organisation of Petroleum Exporting Countries (OPEC), the illegal cartel that has driven the price of oil over $130 per barrel. This can be accomplished without invasion or bombing. No special legislation is needed. The president need simply allow the states to seek relief in the Supreme Court under US antitrust laws.