New Delhi, July 10 (IANS) India’s ethanol blending programme did not begin under the present government, and the initiative has a long institutional history and milestones, the Petroleum Ministry said on Friday, adding that the transition from E10 to E20 ethanol blending was not based on assumptions, but on years of testing, manufacturer consultations and field experience.“A pilot ethanol blending programme was launched in 2001, formally announced in 2004, and E5 (5 per cent ethanol blending) …
Latest Oil Marketing Companies News & Updates
New Delhi, July 2 (IANS) Consumers expecting a reduction in petrol and diesel prices may have to wait longer, as Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday said there is no justification for lowering retail fuel prices at this stage.Addressing the issue of fuel pricing, Puri said petrol and diesel prices have remained largely stable despite significant fluctuations in global crude oil markets.He noted that petrol prices have increased by only 5.58 per cent over the p…
New Delhi, July 1 (IANS) Opposition leaders on Wednesday took a jibe at the Bharatiya Janata Party (BJP)-led Central government after its decision to reduce the price of 19-kg commercial LPG cylinders, calling it a “favour” similar to “taking away someone’s eyes and then donating glasses”.The reactions came after state-owned Oil Marketing Companies (OMCs) reduced the price of 19-kg commercial LPG cylinders by up to Rs 183.5 across major cities, effective from July 1, providing relief to restaura…
New Delhi, July 1 (IANS) Shopkeepers in the national Capital on Wednesday welcomed the government’s decision to reduce the price of 19-kg commercial LPG cylinders, saying the move would bring much-needed relief to businesses already burdened by rising costs.Following the reduction in rates, traders said the cut would ease operational expenses for small establishments, particularly in the food and hospitality sector.Speaking to IANS, a shopkeeper said, “It is a very good decision that the pri…
New Delhi, July 1 (IANS) State-owned oil marketing companies (OMCs) have reduced aviation turbine fuel (ATF) prices by nearly Rs 5 per litre, effective from Wednesday, following a decline in international crude oil prices after easing geopolitical tensions in West Asia.According to the latest price notification, the price of jet fuel in Delhi has been cut to about Rs 110 per litre, coming into effect from July 1.The latest price cut is expected to lower operating costs for domestic carriers, alt…
New Delhi, June 25 (IANS) In a major relief to industrial and commercial LPG consumers, the government on Thursday removed all sectoral restrictions on the supply of non-domestic packed LPG and restored supplies to the levels prevailing prior to the West Asia crisis.The restrictions have been lifted due to improved indigenous LPG production and the projected availability of imported LPG cargoes following the US-Iran peace agreement and the opening of the Strait of Hormuz, according to a statemen…
New Delhi, June 23 (IANS) The Ministry of Petroleum and Natural Gas on Tuesday reiterated that the country’s Ethanol Blending Programme for petrol is scientifically validated and continuously monitored by the Union government. “The Union government has noted certain misleading and unsubstantiated claims being circulated on social media regarding Ethanol Blended Petrol (EBP), which appear to be aimed at confusing and misleading the public,” the statement said.It has also been observed that old im…
New Delhi, June 18 (IANS) A decline in global crude oil prices does not automatically translate into an immediate reduction in petrol and diesel prices in India, Minister of State for Petroleum & Natural Gas and Tourism Suresh Gopi said on Thursday.Gopi told reporters that several factors influence domestic fuel pricing, including the time required for crude oil purchased at lower rates to reach India.He said the recent increase in fuel prices cannot be rolled back instantly merely because i…
New Delhi, June 9 (IANS) A fair increase in fuel prices could still be on the table if global crude oil costs remain elevated and India’s import bill continues to strain oil companies, Pranjul Bhandari, Chief India Economist at HSBC said on Tuesday.In an exclusive interview with IANS, Bhandari noted that India’s landed cost of crude oil imports has recently been around $110 per barrel, a level she said is putting significant pressure on oil marketing companies.“The landed cost of oil impor…
New Delhi, June 9 (IANS) Opposition leaders on Tuesday criticised the government’s decision to reduce the number of subsidised LPG cylinder refills available under the Pradhan Mantri Ujjwala Yojana (PMUY) from nine per year to four, with some quipping that it should now be renamed the “Andhkaar Scheme”. Talking to IANS, Congress leader Sandeep Dikshit said the decision reflected the government’s failure to sustain welfare support for citizens.”What this means is that PM Modi first took over Cong…