Rising environmental concerns are increasingly swaying government energy policies across the globe, prompting energy companies to invest in greener options.
Value Added Tax (VAT) on petrol has been increased to 26.80 per cent and on diesel 17.48 per cent, the order said.
A high-level committee under Chief Minister Naveen Patnaik will be clearing IOCL's expansion proposal on Monday.
India in July 2017, allowed companies to carve out blocks of their choice with a view to bring about 2.8 million sq km of unexplored area in the country under exploration.
Shanker said the ONGC board recently approved the business roadmap for the company and its other group entities -- 'ONGC Energy Strategy 2040'.
The firm produced 24.23 million tonne of crude oil in the 2018-19 fiscal year and 25.81 billion cubic metres of natural gas from its domestic fields.
Saudi Arabia, which traditionally has been India's top oil source, lost the slot to Iraq during the last two financial years.
If the outlook is so rosy, why is Ambani hitting the brakes on a seven-year, $100 billion investment spree?
The price ceiling for gas from difficult fields today stands at $9.32 per million metric British thermal unit (mmBtu) while the domestic formula price.
ONGC had purchased the government’s entire 51.11% in HPCL for Rs 37,000 crore in early 2018.
With Saudi Aramco coming on board, a separate division catering to the O2C business will be carved out, said RIL's PMS Prasad.
A gas exchange will enhance trade transparency, boost consumer confidence, and increase market opportunities for suppliers, officials said.
Ambani said the natural gas business will soon regain its pride of place in Reliance's value-creation strategy.
The deal, which is expected to be completed during this fiscal, is not driven by the company's move to deleverage debt of over Rs 1.54 trillion.
Last week, the two firms had announced a new joint venture to set up petrol pumps and retail aviation turbine fuel to airlines in India.
Tectonic shift group junks go-it-alone strategy, plans to forge partnerships with global giants for major businesses among india’s largest fdi deals
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service