Oil & gas
Govt further hikes excise duty on petrol and diesel
02 Dec 2014
The excise duty hike is expected to yield an additional Rs4,000 core in the remaining part of the current fiscal and, along with the Rs6,000 crore expected from the earlier hike in excise duty, would fetch the government an additional Rs10,000 crore
Russia to scrap South Stream gas pipeline
02 Dec 2014
Warren Buffet’s Lubrizol to buy two units of Weatherford for $750 mn
02 Dec 2014
The acquisitions of these two businesses will give Lubrizol a more significant footprint in the $20-billion oilfield chemicals business
Commercial LPG prices slashed; petrol, diesel too cost less
01 Dec 2014
State-run oil and gas marketing companies have announced a sharp reduction of over Rs130 per non-subsidised cylinder of LPG
Oil wilts as OPEC stands by Saudi decision not to cut production
28 Nov 2014
To compete with US shale oil, production of which would be viable for a price of anywhere between $40 to $60 a barrel, OPEC has to allow for lower prices, feels Saudi Arabia, OPEC’s biggest oil producer
OPEC may decide on production curbs at tomorrow’s meet
26 Nov 2014
OPEC looks set for a compromise decision on restricting production and supply of oil, as the OPEC basket of crude fell to a low of $74.28 a barrel
Jindal Steel shelves $10-bn coal-to-diesel project: report
24 Nov 2014
Jindal, which used to own some of these coal blocks scrapped by the Supreme Court, will now have to deposit about Rs3,000 crore with the government by December as a levy for the coal it has dug out from the mines that now stand cancelled
LPG subsidy not for ‘people like me’, only for poor: Jaitley
21 Nov 2014
The next important decision India will have to take is whether people like me are entitled to get our LPG subsidy, he said
Apache Corp eyes $1.4 bn through sale of oil and gas assets
21 Nov 2014
Houston-based Apache will sell its working interest in approximately 90,000 net acres in mature southern Louisiana fields, which are characterised by high decline rates and short reserve lives
I-T dept loses Rs18,000-cr transfer pricing case against Shell India
18 Nov 2014
The tax authorities failed to establish that the issue of shares of Rs180 market value at Rs10 per share was intended to avoid paying tax and that the company is liable to pay tax on the income generated out of it
Halliburton to acquire rival Baker Hughes for $34.6 bn
18 Nov 2014
Oil services giant Halliburton will acquire its rival Baker Hughes for about $34.6 billion, leading to a merged entity worth $67 billion
ONGC to invest Rs10,600 crore to rev up western offshore output
17 Nov 2014
The investment will lead to incremental gain of 7.547 million tonne of crude oil and 3.864 billion cubic meter of gas by 2030
Govt launches modified direct benefit transfer of LPG scheme
15 Nov 2014
The scheme is designed to ensure that the benefit meant for the genuine domestic customer reaches them directly and is not diverted
Halliburton and Baker Hughes in merger talks
14 Nov 2014
US oilfield services providers Halliburton & Co and Baker Hughes Inc are in merger talks in a deal that will value the merged company at around $67 billion
Govt hikes excise duty on petrol, diesel as prices fall
13 Nov 2014
The duty hike could help the government mop up an additional Rs13,000 crore as revenue
ONGC eyes stake in Tullow Oil's African assets
06 Nov 2014
A successful deal, if it finally materialises, would come four years after ONGC lost out to CNOOC, China's third-largest oil company, in acquiring a 50-per cent interest in Tullow Oil’s oil fields in Uganda
RIL, partner Pioneer pursuing exit from US shale gas JV
05 Nov 2014
Pioneer said it planned to close the sale of 5.75 million shares of its common stock on or about 10 November 2014, ahead of Reliance selling its stake in the JV
Petrol price cut by Rs2.41 per litre; diesel to cost Rs2.25 less
31 Oct 2014
The price of petrol has come down steadily from Rs73.60 in July 2014 to Rs64.24 at present in six straight fortnightly reductions
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