Price hike required immediately, say executives.

Murli DeoraThe continued rally in international oil prices has turned diesel margins red. Oil companies are losing Rs 2.96 on sale of every litre of diesel sold in the fortnight beginning June 16. Diesel accounts for 39 per cent of total petroleum product consumption in the country.

energy Nigerians want to own their oil Thousands of workers in Nigeria protested in mid-May the proposed deregulation of the oil sector. The government in February said it would deregulate the downstream oil sector, which deals with refining of crude oil for domestic consumption. It is managed by the state-owned Nigerian National Petroleum Corporation. The government had also

MANGALORE: A small ceremony on Wednesday marked the commencement of work on the Mangalore chapter of the Indian Strategic Petroleum Reserves Limited (ISPRL)

Petrol prices may be raised by about Rs 2 per litre and diesel rates cut by Rs 0.30 a litre if a proposal to free auto fuel prices from state control is approved by the incoming Cabinet.

The petroleum ministry has prepared a draft Cabinet note on freeing petrol and diesel prices from government control, after which they will be linked to international movements.

Ajay Modi / New Delhi May 19, 2009, 0:27 IST

...but direct sales to industry remain sluggish.

Driven by rabi crop harvesting and general elections, consumption of petroleum products grew by 4.6 per cent in April, the second highest since September 2008, according to provisional data complied for the month by industry. The average growth during the year 2008-09 stood at 3.5 per cent.

Amitav Ranjan

New Delhi: Even before the new government takes shape, the petroleum ministry is ready with a proposal to decontrol pricing of petrol, diesel, kerosene and LPG. The

KOCHI: Is your expensive car or bike running on quality fuel?

Works on aggressive moves in downstream segment.

Kalpana Pathak / Mumbai April 24, 2009, 0:26 IST

Reliance Industries

Kalpana Pathak & Ajay Modi / Mumbai / Delhi April 22, 2009, 1:11 IST

After a brief honeymoon with over-recoveries on sale of petrol and diesel, the country

India