Oil Minister Jaipal Reddy

• Additional subsidy to oil retailers in view of difficult situation: FM

  The government today justified its proposal for additional oil subsidy of Rs 28,500 crore, saying it was being done in view of "difficult situation" as members in the Lok Sabha attacked the move.

• The many challenges for Veerappa Moily, new Oil Minister

  Moily was appointed the new Petroleum and Natural Gas minister, replacing Jaipal Reddy, as part of a broader cabinet reshuffle unveiled on Sunday.

• PM took me into confidence about change in my portfolio, that was enough for me: Jaipal Reddy

  Mr Moily replaces Jaipal Reddy, whose aborted term as Oil Minister has been attributed to his run-in with Reliance Industries, owned by Mukesh Ambani.

• India says US understands its need for Iran oil

  The United States understands India's need for Iranian oil imports, which are steady at a rate of 15 million tonnes per year, oil and gas minister S Jaipal Reddy said on Monday.

• Under-recoveries for oil firms will be even higher this fiscal: Oil Minister

  Be it a stronger dollar or a fuel price hike, there seems no respite for oil companies from the burden of under-recoveries. Spelling out on the issue, Oil Minister Jaipal Reddy today said the sale of subsidised fuel will be higher this fiscal against the previous financial year.

• Oil Ministry wants committee of secretaries to scrutinise RIL, Essar pricing proposals

  Oil Minister S Jaipal Reddy has written to Prime Minister Manmohan Singh seeking formation of a committee of secretaries to scrutinise the coal-bed methane, or CBM pricing proposals of Reliance Industries and Essar Oil.

• Fuel price hike put off; CCPA to meet on Sep 18

  A hike in the prices of diesel, LPG and kerosene was today put off apparently following strong reservations within the Congress even though Oil Minister S Jaipal Reddy said the increase was unavoidable.

• Sensex rises on fuel price hike hopes; oil stocks lead

  The Sensex rose on Tuesday for a fifth consecutive session on rising hopes for fiscal reforms after Oil Minister S. Jaipal Reddy said India would need to hike the price of heavily subsidised fuels such as diesel in the near term.

• HPCL, BPCL, IOC extend gains on fuel hike hopes

  Shares in state-owned oil marketing companies extended gains after Petroleum Minister S. Jaipal Reddy said India will have to hike the price of heavily subsidised fuels such as diesel in the short term.

• Oil PSUs losing Rs 1.37 a litre on petrol despite last month's hike: Oil minister

  State-owned oil firms are losing Rs 1.37 a litre on petrol, Oil Minister S Jaipal Reddy has said.

• RIL June quarter profit down 21%, but beats estimates

  Reliance Industries on Friday reported net profit of Rs 4473 crore, beating estimates of Rs4,364 crore for the quarter ended June 2012, making this the third straight quarter that it has seen profits decline. RIL's gross refining margins stayed strong at $7.6 a barrel, the same as the previous quarter, and much better than estimates of a range of $...

• Hike diesel car prices by up to Rs 2.55 lakh, Jaipal Reddy asks Pranab

  Oil Minister S Jaipal Reddy has written to Pranab Mukherjee recommending a steep additional excise duty on diesel-run cars.

• Oil ministry sure about hiking tax on diesel cars: Jaipal Reddy

  The minister, however, said that it was up to the finance ministry to take a final call on the proposal.

• No diesel, kerosene price hike, says Oil Minister: Highlights

  Jaipal Reddy on Monday stated very clearly that there the empowered group of ministers (EGoM) is not considering a hike in diesel and other oil commodities.

• No price hike for diesel, LPG, kerosene: Jaipal Reddy

  Oil minister S Jaipal Reddy on Monday ruled out any price hike in diesel, kerosene and LPG for now. He added that no date has been fixed for a meeting of the Empowered Group of Ministers (EGoM), whose consent is required for any increase in the price of these three regulated commodities. Finance Ministry sources, however, told NDTV Profit that an E...