Bharat Petroleum Corporation (BPCL) rose 2.18% to Rs 464.80 after the company said its board has approved sale of 61.65% stake in Numaligarh Refinery (NRL) to a consortium of Oil India and Engineers India and to the Government of Assam.
The company will sell 45.35 crore equity shares, or 61.65% equity, in NRL for Rs 9,875.96 crore. If the Government of Assam does not participate in the acquisition of the stake, the consortium of Oil India (OIL) and Engineers India (EIL) will buy the stake.
The sale is expected to be completed within a month from obtaining all requisite approvals, BPCL said in a regulatory filing made after market hours yesterday. The final sale pact will be entered into after obtaining clearances from its shareholders, BPCL said.
Artificial cuts to keep the price going up is not something we support, Tarun Kapoor, secretary at Ministry of Petroleum and Natural Gas, said at the opening ceremony of India’s energy center in Moscow
After Rajasthan, Petrol Prices Cross Rs 100-Mark In Madhya Pradesh
Oil Minister Dharmendra Pradhan had on Wednesday blamed output cut by oil-producing nations for the rally in international oil prices that have translated into higher retail rates in India. Representational Image Outlook Web Bureau 2021-02-18T12:38:05+05:30 After Rajasthan, Petrol Prices Cross Rs 100-Mark In Madhya Pradesh outlookindia.com 2021-02-18T14:17:05+05:30
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With fuel prices increasing for the tenth day in a row, petrol prices crossed the Rs 100-mark in Madhya Pradesh on Thursday.
As petrol price increased by 34 paise per litre, diesel price was hiked by 32 paise per litre, according to a price notification of state-owned fuel retailers.
New Delhi [India], February 15 (ANI): As the fuel prices continued its upward spiral, SC Mishra, former Secretary, Ministry of Petroleum and Natural Gas said the economic situation has improved since 2020 and the central government should have given a relief of Rs 12 per litre on petrol and Rs 14 per litre on diesel to the common man.
Updated Feb 15, 2021 | 18:06 IST
Elaborating about the taxes levied on petrol and diesel, Mishra said the actual refinery rate price for petrol or diesel is between Rs 30 to Rs 31 per litre. Govt should have given relief of Rs 12-14 on petrol, diesel: Ex-Petroleum Secy | Photo Credit: BCCL
As the fuel prices continued its upward spiral, SC Mishra, former Secretary, Ministry of Petroleum and Natural Gas said the economic situation has improved since 2020 and the central government should have given a relief of Rs 12 per litre on petrol and Rs 14 per litre on diesel to the common man.
Mishra underlined the fact that the government had raised the taxes on petrol by Rs 12 per litre and on diesel Rs 14 per litre, twice in March and May 2020, to garner extra revenue.