Cooking gas prices are expected to rise about Rs 15 per cylinder after assembly elections as the oil ministry has agreed to review delivery charges.
India is expected to expand its annual processing capacity to 333 million tonnes by 2022, Oil Minister Veerappa Moily said.
State oil firms may cut petrol prices days before Delhi’s election scheduled on December 4. Company executives are waiting for a signal from the ministry.
The pricing formula will be effective from April 1, 2014 for a period of five years, with the price being revised quarterly.
The international development has renewed the hope to revive Iran-Pakistan-India pipeline project, which was on hold due to Western sanctions, government and industry officials said.
Gas grid to connect consumers in Asia with producers; could be extension of $7.6-billion TAPI pipeline
EIL reached an understanding with Dangote Group in Nigeria for PMC and EPCM services for implementing a petroleum refinery and polypropylene plant.
Veerappa Moily will meet investment bankers and top industry executives in Mumbai next week to restore investors’ confidence in oil and gas sector.
While Moily said government would continue to raise diesel prices by 50 paise every month, he ruled out a steep increase as it would stoke inflation.
He said the monthly increases in rates will continue as planned and there was no plan for a one-time steep hike of Rs 3 or 4 pl to bridge the gap.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon