Essar to re-open petrol pumps in India
Essar Oil has announced that they are now going to re-open their retail sale points in India.
The company is planning to open most of its 1,250 fuel stations by the end of December.
Essar said that the falling crude oil prices makes it viable for them to get back [...]
Air Ticket prices in India to go up massively
Indian government owned oil companies have announced that they are now hiking the prices of the aviation turbine fuel as the crude oil prices are skyrocketing.
They are increasing the prices of the ATF for domestic carriers by around 20% and for international carriers close to [...]
Cooking gas connections now more expensive
Public sector oil marketing companies in India have announced that they are now hiking the charges for new gas connections.
The price of getting a new gas connection has been raised by Rs. 400 to Rs 1,250.
They have also raised the security deposit in the North-East to Rs 900 per cylinder [...]
Petrol, Diesel prices hiked
The Indian government has finally decided that the price of both Petrol and Diesel needs to be hiked to cut the losses at the oil companies.
The cabinet decided that the petrol would cost Rs. 2 more while diesel would be sold for Rs. 1 more.
Incidentally, this announcement comes just weeks before the [...]
ONGC is one of the World’s Most Admired Companies
The Oil and Natural Gas Corporation Ltd has now become India’s first company to be featured in the Fortune Magazine’s annual list of the World’s Most Admired Companies.
The list is formed after a survey conducted by the Fortune magazine in collaboration with Hay Group.
ONGC incidentally is also [...]
Air travel in India to become costlier
Oil companies in India have increased the prices of the aviation turbine fuel by around 4.2%. This has resulted in a situation where most airline companies would have to hike the prices of air tickets.
Indian Oil, Hindustan Petroleum and Bharat Petroleum all announced on Monday that they are [...]
Indian Oil launches XtraRewards loyalty card for their customers
Indian petroleum industry giants Indian Oil has announced the launch of their loyalty reward programme named XtraRewards for their customers.
IOC Director (Marketing) G C Daga said in a statement on this initiative: “XtraRewards is the first reward programme for customers paying cash. Even today, about 90 per [...]
Mukesh Ambani to raise stake in Reliance Industries
Reliance Industries chief Mukesh Ambani has revealed his decision to increase his stake in the company. Reliance Industries is the country’s most valuable company and this would enable him to remain the majority shareholder.
Reliance’s board of directors has approved the required issue of 120 million warrants which are [...]
Petroleum demand dips in the United States
American Petroleum Institute has claimed in a report that the demand for petroleum dipped for the second year in a row in the United States.
However, the oil companies in the country continue to generate huge profits as the prices have gone up massively in the recent years.
The report claimed [...]
Indian Government to review petrol prices at the end of the month
The Indian government is likely to review petrol and diesel prices on January 31. Sources say that a price cut could take place if the international crude prices fall further.
India’s petroleum secretary M S Srinivasan said in a statement: “There will be a review [...]
