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oil n gas subsidy in india reviews 

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Bigger burden on oil duo

State-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) are likely to share a higher subsidy burden this fiscal to help refiners such as Indian Oil Corporation (IOC) sell diesel and cooking gas at government-controlled rates.In the interim budget, finance minister P. Chidambaram had revised the oil subsidy provision estimate by Rs 20,480 crore to Rs 85,480 crore for this fiscal and...
Source : Telegraphindia |
Category : Business | City : Mon

ONGC to pay Rs 13,764 crore as fuel subsidy in Q3

government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.Oil and gas producers ONGC and Oil India Ltd bear a portion of the losses that fuel retailers incur on selling some fuels at subsidised rates. The government also offers the oil refiners a cash subsidy as compensation.The...
Source : Rediff |
Category : Business

ONGC to pay Rs 13,764 crore as fuel subsidy in Q3

pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.Oil and gas producers ONGC and Oil India Ltd bear a portion of the losses that fuel retailers incur on selling some fuels at subsidised rates. The government also offers the oil refiners a cash subsidy as compensation.The Oil Ministry this week asked ONGC and OIL to give Rs 15,937.59...
Source : Business Today |
Category : Business | City : New Delhi

ONGC asked to pay record Rs 13,796 cr subsidy for Q2: report

government has ordered Oil and Natural Gas Corp (ONGC) to pay a record Rs 13,796 crore fuel subsidy for the July-September quarter, a move which will dent ONGC's profitability.The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd (OIL) to give Rs 16,729.74 crore to make up for 47 per cent of the Rs 35,328 crore revenue that retailers lost on...
Source : Ndtv |
Category : Others | City : New Delhi

ONGC to pay Rs 13,796 crore subsidy for second quarter

government has ordered Oil and Natural Gas Corporation (ONGC) to pay a record Rs 13,796 crorecost. The losses they incur are met by government cash subsidy as well as through support from upstream firms.The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd (OIL) to give Rs 16,729.74 crore to make up for 47 per cent of the Rs 35,328 crore revenue...
Source : Business Today |
Category : Business | City : New Delhi

Oil India Ltd: Performance Driver

Subsidy burden & declining production growth are 2 of the problems that OIL faces. Acquiring assets outside India may be the way outis engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. The company is also into installation and maintenance of oil and gas pipelines. OIL has also diversified into the midstream...
Source : Valueresearchonline |
Category : Others

Election Commission refuses to clear Govt's proposal for gas price hike

move will have major impact on Reliance Industries Ltd (RIL), besides Oil and Natural Gas Corporation, Oil India Ltd (OIL) and Cairn India.This move will have major impact on Reliance Industries Ltd (RIL), besides Oil and Natural Gas Corporation, Oil India Ltd (OIL) and Cairn India.Election Commission has refused to clear the Union government's proposal for a steep increase in domestic gas prices,...
Source : Indiainfoline |
Category : Business

Business Briefs

government has ordered Oil and Natural Gas Corporation (ONGC) to pay a record Rs 13,796 crore fuel subsidy for the July-September quarter, a move which will dent ONGC’s profitability. The oil ministry on October 31 issued orders asking upstream oil and gas producers such as ONGC and Oil India to give Rs 16,729.74 crore to make up for 47 per cent of the Rs 35,328-crore revenue that retailers lost on...
Source : Telegraphindia |
Category : Business | City : Mon

ONGC asked to pay record Rs 13,796 cr subsidy for Q2

has ordered Oil and Natural Gas Corporation to pay a record Rs 13,796-crore (Rs 137.96-billion) fuel subsidy for the July-September quarter, a move which will dent ONGC's profitability.The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28...
Source : Rediff |
Category : Business

Crude oil price of Indian basket goes up

Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products during the Ist fortnight of November...
Source : Times Of India |
Category : Business