The oil ministry will launch a portal on Friday that will record deliveries of cooking gas cylinders to households.
ONGC and China's largest government-owned energy firm, CNPC have agreed to expand their existing upstream partnership to refining and marketing of oil and gas.
Pvt oil cos, which have been pushed out of fuel retail because of cheap sales by state-run rivals, are having the last laugh as diesel demand has risen.
Oil companies such as IOC, BPCL, HPCL defer petrol price cut, will review petrol prices after couple of days
IOC, BPCL and HPCL will review prices in couple of days in the light of weakening of the rupee against dollar, officials said.
State oil firms IOC, BPCL and HPCL are prepared to slash petrol prices by about Rs 2 a litre but could not announce the decision as an informal nod by oil minister Jaipal Reddy is still awaited.
India has asked Saudi Arabia, the world's biggest oil producer, to supply 5 million tonne additional crude oil this year mainly because Indian refiners are looking for alternate energy sources due to western sanctions against Iran.
The price of crude oil purchased by Indian refiners has dipped to $95.75 a barrel— the lowest in more than a year-—raising hopes of another cut in petrol prices.
Hoping to trim its bloated workforce and reduce the number of non-performing employees, state-run Oil & Natural Gas Corp (ONGC) has come up with a sweetened separation package.
The US govt said it had exempted 7 importers of Iranian oil including India from sanction to reward them for significant cuts in import of Iranian oil.
The govt expects that the levy would help it in meeting about Rs 10,000 crore annual revenue losses of state oil firms in selling diesel below market rates.
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