ONGC produced 3 per cent less crude oil at 1.6 million tonnes in November due to delays in mobilising equipment at western offshore fields
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Excise duty on petroleum products is calibrated time to time for generating resources for infrastructure and other developmental items of expenditure, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
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IOC joins the likes of oil and gas explorer ONGC, gas utility GAIL Torrent Gas Pvt Ltd and Adani Total Gas Ltd which already have acquired 5 per cent equity each in IGX
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In the case of BPCL, the government ignored suggestions of following its time-tested policy of putting on block 26 per cent stake along with management control.
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The Central Exchequer collection saw an increase of 36.11% compared to the previous fiscal.
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It is seeking one cargo for delivery into Dabhol, India over Jan. 7 to 9 next year and is offering to sell a cargo for loading from the Sabine Pass plant in the United States over Jan. 10 to 20, 2023
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The central government's mop-up from excise duty levied on petrol and diesel more than doubled to Rs 3.72 lakh crore in the pandemic year 2020-21, out of which states were given less than Rs 20,000 crore, according to a reply by the government in the Rajya Sabha on Tuesday.
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Hardeep Singh Puri, India's oil minister says he's concerned about high oil prices, and price volatility could harm the world's energy transition.
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Diesel consumption totalled 2.43 million tonnes between Nov. 1-15, a decline of about 15.3% from last year and down 19.35% from the same period in 2019, the data showed.
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India has 24,900 megawatts of gas-based power generation capacity. But of this, 14,305 MW is stranded due to the non-availability of reasonably priced gas.
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