Indian Oil Gains After Being Allowed to Raise Diesel Prices - Bloomberg: "Finance Minister Palaniappan Chidambaram is seeking to reduce spending on fuel subsidies as part of a plan to narrow the budget deficit to a two-year low of 5.1 percent of gross domestic product and avoid a ratings downgrade. The state refiners lost 738.2 billion rupees ($14 billion) from selling diesel below cost in the nine months ended Dec. 31, making up 59 percent of the total loss on fuel sales."
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Thursday, January 17, 2013
Sunday, January 6, 2013
No money for free public transport -- but plenty wasted on oil
Reuters | Photo By AMIT DAVE / Reuters
Two dead at Indian Oil Corp terminal fire - Yahoo! News: "India's Petroleum and Natural Gas Minister Veerapa Moily, who visited the site, said the damage to Indian Oil could be as much as 450 million rupees ($8.16 million)."
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