| Andhra seeks CBI probe into Obulapuram Mining | 18-NOV-09 |
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| The Andhra Pradesh government has decided to ask the Union government to order an inquiry by the Central Bureau Investigation (CBI) into the alleged illegal mining of iron ore by Obulapuram Mining Company (OMC) in the Bellary reserve forest of Anantapur district. |
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| CCEA asks oil ministry to ensure 5% ethanol blending by OMCs | 12-NOV-09 |
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| The government today asked the Petroleum Ministry to ensure that oil companies compulsorily sell petrol doped with 5 per cent ethanol. In November 2006, the government had mandated that ethanol should be blended in a 5 per cent ratio with petrol to be sold throughout India except in areas like North Eastern states and Jammu and Kashmir. |
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| OMCs turn to CPs, debentures as credit needs rise | 06-NOV-09 |
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| Oil marketing companies (OMCs) are increasingly going in for debentures and commercial papers for meeting their short-term credit requirements. The largest petroleum marketer, Indian Oil Corporation, has raised around Rs 5,000 crore and Hindustan Petroleum Corporation has raised Rs 2,000 crore through sale of commercial papers (CPs) over the past two months. Bharat Petroleum Corporation recently raised Rs 1,000 crore through debentures. |
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| OMCs fear rise in underrecoveries | 17-OCT-09 |
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| As crude oil prices touched a fresh one-year high, trading at above $75 a barrel on Thursday, analysts and oil sector executives said underrecoveries could rise and become a cause of concern. |
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| SPV formed for Lanjigarh area development | 17-OCT-09 |
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| As suggested by the Supreme Court of India, a Special Purpose Vehicle (SPV) named as Lanjigarh Project Area Development Foundation (LPADF), has been formed with the Orissa government, Sterlite Industries India Ltd (SIIL) and Orissa Mining Corporation (OMC) as stakeholders. It will initiate programmes for uplift of Kutia Kondh and Dongria Kondh community on priority basis. |
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| OMCs may buy biodiesel at Rs 34 a litre | 12-OCT-09 |
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| The government is likely to fix a price of Rs 34 a litre for purchase of biodiesel by oil marketing companies, after biodiesel producing companies agreed to sell the fuel at that rate in a recent meeting between the government's representatives and industry players. |
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| OMCs to shore up India Inc profit in Q2 | 08-OCT-09 |
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| India Inc is likely to post a whoping 63 per cent growth in net profit in the second quarter, thanks to four oil marketing companies which are expected to post a combined net profit of Rs 2,730 crore in the quarter ended September. If one excludes these four from the sample of 235 companies studied, net profit is expected to only increase marginally, around 1 per cent. |
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| Busy traffic fuels ATF sales in July | 04-SEP-09 |
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| The consumption of aviation turbine fuel (ATF) turned positive in July on account of an increase in international flights. This comes after nine consecutive months of decline. |
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| Posco to split mining, steel projects | 27-AUG-09 |
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| The South Korean steel major Posco, proposing to set up a 12 million tonne integrated steel plant near Paradeep in Orissa, today said, it will separate the captive mining from the steel project to expedite work on the mega steel plant. |
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| A-I gets an extra month's credit to pay ATF dues | 10-AUG-09 |
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| Petroleum ministry approves a three-month periodComing as a relief for cash-strapped Air India, the Union petroleum ministry has approved a three-month credit period to oil marketing companies (OMCs) for payment of its aviation turbine fuel (ATF) dues. Currently, OMCs provide A-I a two-month credit. |
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| Oppn members suspended from Andhra Assembly | 07-AUG-09 |
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| Sixty-two opposition members were suspended from the state Assembly on Thursday following a furore over the alleged illegal iron ore mining by Obulapuram Mining Corporation (OMC) owned by Karnataka tourism minister G Janardhan Reddy. |
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| Falling crude prices shrink losses for OMCs, treasury | 17-JUL-09 |
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| Following a slide in crude oil prices, the under-recoveries of oil marketing companies (OMCs) - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation - on subsidised sale of petrol and diesel have come down sharply in the current fortnight. |
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| Kalinganagar units seek raw material security | 16-JUL-09 |
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| The Kalinganagar Industries Association (KNIA), an organisation representing the interests of ten steel units at Kalinganagar in Orissa’s Jajpur district, have sought raw material security for smooth running of the units. |
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