| In talks with Nepal govt to break IOC supply monopoly | 24-NOV-09 |
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| Essar Oil has approached the Nepal government for supplying petroleum products. If the proposal is accepted, it will break the monopoly of Indian Oil Corporation, which retails petroleum products in the land-locked country along with the Nepal Oil Corporation (NOC). Nepal is not a very big market and is estimated have an annual demand of 720,000 tonnes of diesel and 1,40,000 tonnes of petrol. Essar currently supplies only small quantities of fuel oil to Nepal. |
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| Ties up with Aegis, Elf, SHV for auto LPG | 24-NOV-09 |
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| To expand its footprint in auto and piped natural gas retailing, Essar Oil has tied up with Aegis Logistics, Elf Gas and SHV to roll out auto LPG dispensing stations in the country. |
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| IOC fire burns Rs 100-cr hole in GIC's pocket | 22-NOV-09 |
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| General Insurance Corporation (GIC), India’s national re-insurer, is expected to take a Rs 100-crore hit in claims for the fire that broke out at the Indian Oil Corporation (IOC) complex near Jaipur last month. |
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| Domestic fuel consumption jumps 12% | 21-NOV-09 |
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| India’s fuel consumption rose 12 per cent in October, the highest growth rate this financial year, on the back of a surge in demand for auto fuels — petrol and diesel. |
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| HPCL-led consortium holds petrochem complex at Vizag | 20-NOV-09 |
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| State-run oil refiner Hindustan Petroleum Corporation (HPCL)-led consortium has temporarily put on hold its proposed Rs 30,000 crore petrochemicals complex at Visakhapatnam, a top official said today. |
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| Oil prices up in Asian trade but still below $78 | 20-NOV-09 |
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| Oil rose in Asian trade today as investors bought the commodity at more attractive prices, but concerns over the strength of the global economic recovery has injected caution into the market. |
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| No immediate plans to hike fuel prices: Govt | 19-NOV-09 |
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| The government has no immediate plans to raise petrol and diesel prices even though raw material costs have surged to their highest level this year, Petroleum Secretary R S Pandey said today. |
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| No plan to hike oil prices soon: Secy | 19-NOV-09 |
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| The government is not considering at present to raise petrol and diesel prices in line with the firming international crude rates, Petroleum Secretary RS Pandey said today. |
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| Mittal opts out of Kazakh oilfield JV | 19-NOV-09 |
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| Steel magnate Lakshmi Mittal has pulled out of a project involving development of an oilfield in Kazakhstan in partnership with Oil and Natural Gas Corporation (ONGC). It is now looking for buyers for its stake in another company in the Central Asian nation. |
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| L N Mittal opts out of Kazakh oilfield JV with ONGC | 18-NOV-09 |
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| Steel magnate Lakshmi Mittal has pulled out of a project to develop an oil field in Kazakhstan in partnership with Oil and Natural Gas Corp (ONGC) and is looking for buyers for its stake in another company in the Central Asian nation. |
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| Oil rises further in Asian trade | 18-NOV-09 |
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| Oil climbed higher in Asian trade today on expectations a widely monitored US report would show a drop in fuel stocks, analysts said. |
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| ONGC: Handcuffed to Policy | 17-NOV-09 |
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| Firm crude prices are reflexive to a healthy outlook for ONGC. However, inspite of a near universal conviction on rising crude prices, ambiguity on policy issues especially regarding the subsidy sharing mechanism is a drag on the stock. The company, though, stands to gain from a petroleum ministry proposal to raise the administered pricing mechanism (APM) for gas by 33% to Rs 4250 per mBTU from Rs 3200 currently, as the government inches towards fuel pricing reforms. |
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