In order to bring the raising fuel prices at par with the production cost, the BK Chaturvedi panel has suggested that there should be monthly revision of prices at the rate of Rs 2.50 for petrol and 75 paise for diesel.

At present the major oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - are selling petrol and diesel at a loss of Rs.11.60 a litre and Rs.23.23 a litre respectively. The recommendations of this report are yet to be made public.

Vienna  - As the price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped 2.35 dollars Friday, the cartel's oil price fell by

Stock market analysts have maintained ‘buy’ rating on Essar Oil stock with an intraday target of Rs 238.

According to them, interested traders can purchase the stock above Rs 234 with a strict stop loss of Rs 230. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 244.
 
Shares of the company, on Friday (Aug 08), closed at Rs 233.75 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 3350978. The share price has seen a 52-week high of Rs 360 and a low of Rs 48 on BSE.

Gujarat based company Deep Industries Ltd has secured an order worth Rs 10.30

Vienna - The price for crude oil produced by the Organization of the

New Delhi-headquartered Shiv-Vani Oil & Gas Exploration Services has bagged an order worth Rs 1,610 crore from state-run Oil and Natural Gas Corporation (ONGC) for deployment of eight onshore deep drilling rigs.

The contract is for deployment of one 3000 Hp rig and seven 1500-2 000 Hp rigs and includes deep drilling and integrated services like cementation, directional drilling and mug engineering.

Under the deal, the company would deploy two rigs in Tripura, four rigs in Assam and two rigs in Rajahmundry.