In the biggest seizure during the ongoing raids against the oil mafia, officials have unearthed a major adulteration racket with the recovery of chemicals worth Rs. one crore from Maharashtra’s Solapur district.
District supply officials seized four tankers along with the chemicals near the temple town of Pandharpur late last night, sources said.
With this seizure, officials have busted a major racket involving adulteration of chemicals transported on the Bangalore—Hyderabad route, the sources said.
Maharashtra government is planning to act collectively against food, sand and oil adulteration mafia in the State in the aftermath of the murder of Additional Collector Yashwant Sonawane.
The government is also planning to rope in the oil companies to curb adulteration of petrol and diesel. Home Minister R. R. Patil has instructed police to seal the petrol pumps which sell adulterated fuel.
On Thursday night, police seized one lakh litres of adulterated petrol in suburban Kurla here.
Saturday, January 29, 2011
Thursday, January 27, 2011
Centre to reintroduce chemical marker to check kerosene diversion
Two days after a local oil mafia in Maharashtra burnt alive an Additional Collector, the government on unveiled steps including re-introduction of a chemical marker in kerosene to reduce opportunities of the subsidised fuel being diverted for adulteration.
“We learnt with shock about the heinous killing of Additional Collector Yashwant Sonawane (who was set on fire by the oil mafia in Manmad on January 24 while attempting to stop diversion of PDS kerosene). He died a martyr to the cause of anti-adulteration drive,” Oil Minister S. Jaipal Reddy told a news conference in New Delhi.
Announcing an ex-gratia of Rs. 25 lakh to the family of Sonawane, he said the responsibility of distribution of subsidised kerosene through the Public Distribution System rests with State governments and it was their duty to see that subsidised fuel is not diverted for adulteration.
A litre of kerosene costs Rs. 12.32 a litre while diesel is priced at Rs. 37.75 a litre. The huge difference makes it lucrative for diverting kerosene for mixing in diesel.
An estimated 40 to 60 per cent of the 9.5 million tonnes of kerosene the Centre annually allocates to States is diverted once it leaves the oil company depots.
“This incident has once again highlighted the problem of kerosene being used for adulteration. There is a need to respond to the problem in systematic term,” Mr. Reddy said.
Mr. Reddy said an improved chemical marker will be doped in kerosene to make its mixing with diesel near impossible.
“The kerosene marker system (which was withdrawn in 2009) will be reintroduced in the next six months,” he said.
The government had in 2006 introduced a dye sourced from U.S. firm Authentix in kerosene but withdrew it in 2009 pending toxology tests.
Also, Mr. Reddy suggested that the states use GPS-based vehicular tracking system like the one being used for vehicles transporting petrol and diesel to track the movement, any route deviations being taken or long stoppages.
“It is an effective tool in warding off incidences of pilferage and diversion leading to adulteration which may taken place during the period of untracked transportation,” he said, adding oil companies would provide technological and institutional support to the state governments for installing GPS on tank trucks transporting kerosene.
Besides, oil companies will provide online real-time information on loading of kerosene trucks, quantity and time of departure from their depots so that state authorities can check any route diversion, he said.
Once kerosene trucks leave oil company depots, they make unscheduled stoppages where the fuel is pilfered and what State civil supplies department receive is much less and often diluted quantities of kerosene.
Mr. Reddy said: “We urge the State government (Maharashtra) to take stringent steps to see all those involved are punished in proper way.”
Sonawane was burnt alive because he tried to film kerosene being stolen from an oil tanker on his cell phone.
“We are aware that the (kerosene) marker system prevailed for a couple of years, it was found to be somewhat effective. However there were some complaints about its safety (and so) the system was withdrawn,” Mr. Reddy said, adding that oil companies through in-house research have found an effective marker.
He urged State governments to use GSP to check pilferage, dilution and adulteration.
“Under GPS, if a truck stops at a point for more than a period of time, it’s considered time deviation. In case a truck adopts a wrong route it will be routed under GPS as route deviation.
“The same GPS system has to be introduced by the States. We are prepared to lend technologists, management assistants at our costs to the state government to enable them to introduce GPS,” he said.
“We will also introduce the system of online updates. The quantity, time of departure of the truck will be uploaded online. We will urge the state governments to follow (these),” Mr. Reddy said.
“We learnt with shock about the heinous killing of Additional Collector Yashwant Sonawane (who was set on fire by the oil mafia in Manmad on January 24 while attempting to stop diversion of PDS kerosene). He died a martyr to the cause of anti-adulteration drive,” Oil Minister S. Jaipal Reddy told a news conference in New Delhi.
Announcing an ex-gratia of Rs. 25 lakh to the family of Sonawane, he said the responsibility of distribution of subsidised kerosene through the Public Distribution System rests with State governments and it was their duty to see that subsidised fuel is not diverted for adulteration.
A litre of kerosene costs Rs. 12.32 a litre while diesel is priced at Rs. 37.75 a litre. The huge difference makes it lucrative for diverting kerosene for mixing in diesel.
An estimated 40 to 60 per cent of the 9.5 million tonnes of kerosene the Centre annually allocates to States is diverted once it leaves the oil company depots.
“This incident has once again highlighted the problem of kerosene being used for adulteration. There is a need to respond to the problem in systematic term,” Mr. Reddy said.
Mr. Reddy said an improved chemical marker will be doped in kerosene to make its mixing with diesel near impossible.
“The kerosene marker system (which was withdrawn in 2009) will be reintroduced in the next six months,” he said.
The government had in 2006 introduced a dye sourced from U.S. firm Authentix in kerosene but withdrew it in 2009 pending toxology tests.
Also, Mr. Reddy suggested that the states use GPS-based vehicular tracking system like the one being used for vehicles transporting petrol and diesel to track the movement, any route deviations being taken or long stoppages.
“It is an effective tool in warding off incidences of pilferage and diversion leading to adulteration which may taken place during the period of untracked transportation,” he said, adding oil companies would provide technological and institutional support to the state governments for installing GPS on tank trucks transporting kerosene.
Besides, oil companies will provide online real-time information on loading of kerosene trucks, quantity and time of departure from their depots so that state authorities can check any route diversion, he said.
Once kerosene trucks leave oil company depots, they make unscheduled stoppages where the fuel is pilfered and what State civil supplies department receive is much less and often diluted quantities of kerosene.
Mr. Reddy said: “We urge the State government (Maharashtra) to take stringent steps to see all those involved are punished in proper way.”
Sonawane was burnt alive because he tried to film kerosene being stolen from an oil tanker on his cell phone.
“We are aware that the (kerosene) marker system prevailed for a couple of years, it was found to be somewhat effective. However there were some complaints about its safety (and so) the system was withdrawn,” Mr. Reddy said, adding that oil companies through in-house research have found an effective marker.
He urged State governments to use GSP to check pilferage, dilution and adulteration.
“Under GPS, if a truck stops at a point for more than a period of time, it’s considered time deviation. In case a truck adopts a wrong route it will be routed under GPS as route deviation.
“The same GPS system has to be introduced by the States. We are prepared to lend technologists, management assistants at our costs to the state government to enable them to introduce GPS,” he said.
“We will also introduce the system of online updates. The quantity, time of departure of the truck will be uploaded online. We will urge the state governments to follow (these),” Mr. Reddy said.
Wednesday, January 26, 2011
Oil mafia burns alive additional collector
MUMBAI: An additional collector was burnt alive on Tuesday afternoon in Manmad, near Malegaon, on Tuesday when he tried to call other government officials to the scene of a fuel theft. The perpetrators doused Yashwant Sonawane (44) with kerosene and set him afire in scenes that sent shockwaves across the state.
Sonawane was found dead in a field from severe burns. But before dying he clung on to one of his attackers, Popat Shinde, making it impossible for him to flee. Shinde sustained 80% burns and is critical. He has been arrested with four others.
The gruesome killing led to home minister R R Patil ordering an immediate crackdown on the fuel mafia across the state. CM Prithviraj Chavan ordered an inquiry into the incident. He also announced a Rs 25 lakh payment to the family, payment of his salary till retirement and other compensation. Furious gazetted officers plan a strike on Thursday. Deputy CM Ajit Pawar called it a blot on humanity.
Sonawane had gone to Chandvad, where farmers had been agitating, and was proceeding towards Nandgaon when he spotted oil pilferage at Panewadi village in Manmad taluka, said Nashik divisional commissioner Jayant Gaikwad.
The place has oil depots of major companies like HPCL, BPCL and IOC. When he saw the theft outside the shop of Popat Shinde, he took video footage on his cellphone and also called local officials for a raid."
Shinde`s servant heard Sonawane calling the officials and alerted his boss. Soon, Shinde`s accomplices accosted the government official, doused him with the kerosene they were stealing and set him on fire.
"Shinde arrived on the scene and got into a heated argument with Sonawane. Shinde`s son Kunal and other servants also reached the spot," said Gaikwad. "There were two kerosene cans of 20 litres each at the scene. One of the assailants poured the contents of a can over Sonawane and set him ablaze. Sonawane at that point caught hold of Shinde, who sustained nearly 60% burns and is critical."
The divisional commissioner said fuel pilferage is not uncommon in Panewadi. The oil depots in the area supply fuel to nearly 12 districts in northern Maharashtra and Marathwada.
Gaikwad said Shinde had lost his wife just 10 days ago. "We are taken aback at how he could have committed such a gory crime while in grief," said Gaikwad. The attacker had a criminal record and had been externed once.
Sonawane`s cell phone, with the video, is now with the police. The tanker from which the kerosene was being pilfered has been seized.
The additional director-general of police (law and order) said Shinde, his son Kunal, brother-in-law Sitaram Bhalerao and their aide Raju Shirsat have been arrested for the murder.
Nashik collector P Velarasu said Sonawane was a low profile, hard-working officer. "Local policemen reached the spot within minutes of receiving the information. However, it was too late. Sonawane had already died," said Velarasu.
The body was taken to Nashik where the last rites will be performed. A postmortem was conducted on Tuesday evening and the funeral was scheduled for later in the night. Sonawane is survived by his wife, who lives in Malegaon, and two sons who study in Pune. Sonawane was a native of Dindori, but his parents stayed in Nashik. He had joined the government as deputy collector in 1994 and was expected to be absorbed into the IAS later.
Police and government sources said officials have known about the fuel mafia, but all action taken so far has been merely cosmetic. Food and civil supplies minister Anil Deshmukh, who is visiting Satara district, said the government will unearth the adulteration racket and take action against those behind the gruesome killing.
The CM asked revenue minister Balasaheb Thorat to reach the spot. Thorat said, "We will not hesitate to apply the strict MCOCA against the culprits."
Read more: Oil mafia burns alive additional collector - The Times of India http://timesofindia.indiatimes.com/city/mumbai/Oil-mafia-burns-alive-additional-collector/articleshow/7364458.cms#ixzz1C78iAbbf
Sonawane was found dead in a field from severe burns. But before dying he clung on to one of his attackers, Popat Shinde, making it impossible for him to flee. Shinde sustained 80% burns and is critical. He has been arrested with four others.
The gruesome killing led to home minister R R Patil ordering an immediate crackdown on the fuel mafia across the state. CM Prithviraj Chavan ordered an inquiry into the incident. He also announced a Rs 25 lakh payment to the family, payment of his salary till retirement and other compensation. Furious gazetted officers plan a strike on Thursday. Deputy CM Ajit Pawar called it a blot on humanity.
Sonawane had gone to Chandvad, where farmers had been agitating, and was proceeding towards Nandgaon when he spotted oil pilferage at Panewadi village in Manmad taluka, said Nashik divisional commissioner Jayant Gaikwad.
The place has oil depots of major companies like HPCL, BPCL and IOC. When he saw the theft outside the shop of Popat Shinde, he took video footage on his cellphone and also called local officials for a raid."
Shinde`s servant heard Sonawane calling the officials and alerted his boss. Soon, Shinde`s accomplices accosted the government official, doused him with the kerosene they were stealing and set him on fire.
"Shinde arrived on the scene and got into a heated argument with Sonawane. Shinde`s son Kunal and other servants also reached the spot," said Gaikwad. "There were two kerosene cans of 20 litres each at the scene. One of the assailants poured the contents of a can over Sonawane and set him ablaze. Sonawane at that point caught hold of Shinde, who sustained nearly 60% burns and is critical."
The divisional commissioner said fuel pilferage is not uncommon in Panewadi. The oil depots in the area supply fuel to nearly 12 districts in northern Maharashtra and Marathwada.
Gaikwad said Shinde had lost his wife just 10 days ago. "We are taken aback at how he could have committed such a gory crime while in grief," said Gaikwad. The attacker had a criminal record and had been externed once.
Sonawane`s cell phone, with the video, is now with the police. The tanker from which the kerosene was being pilfered has been seized.
The additional director-general of police (law and order) said Shinde, his son Kunal, brother-in-law Sitaram Bhalerao and their aide Raju Shirsat have been arrested for the murder.
Nashik collector P Velarasu said Sonawane was a low profile, hard-working officer. "Local policemen reached the spot within minutes of receiving the information. However, it was too late. Sonawane had already died," said Velarasu.
The body was taken to Nashik where the last rites will be performed. A postmortem was conducted on Tuesday evening and the funeral was scheduled for later in the night. Sonawane is survived by his wife, who lives in Malegaon, and two sons who study in Pune. Sonawane was a native of Dindori, but his parents stayed in Nashik. He had joined the government as deputy collector in 1994 and was expected to be absorbed into the IAS later.
Police and government sources said officials have known about the fuel mafia, but all action taken so far has been merely cosmetic. Food and civil supplies minister Anil Deshmukh, who is visiting Satara district, said the government will unearth the adulteration racket and take action against those behind the gruesome killing.
The CM asked revenue minister Balasaheb Thorat to reach the spot. Thorat said, "We will not hesitate to apply the strict MCOCA against the culprits."
Read more: Oil mafia burns alive additional collector - The Times of India http://timesofindia.indiatimes.com/city/mumbai/Oil-mafia-burns-alive-additional-collector/articleshow/7364458.cms#ixzz1C78iAbbf
Tuesday, January 18, 2011
Why the retail price of petrol had to be increased w.e.f., 16th Jan’11
Based on current price levels in the international oil market, the desired increase in the retail selling prices (RSPs) of petrol in a market like New Delhi should have been Rs.3.72/Lt. However, IndianOil has chosen to soften the impact on the customer by increasing the price by Rs.2.50/Lt. only and not passing on the balance required increase of Rs.1.22/Lr.
Even during the previous revision of the price of petrol with effect from 16th Dec’10, as against the required increase of Rs.4.90/Lt. in the price at New Delhi, the actual increase was confined to Rs.2.96/Lt. thus leaving a gap of Rs.1.94/Lt. in anticipation of a likely fall in the price levels in the global oil market.
However, with the persistent rising trend in the international oil prices, average prices of the Indian crude basket have gone up from $87.83/bbl during the earlier petrol price revision in December to the current level of $92.31/bbl amounting to an increase of $4.48/bbl. Average global prices of petrol during the same period have gone through an even higher increase of $5.17/bbl, rising from a level of $95.30/bbl to $100.47/bbl.
Owing to the substantial increase in oil prices, the Oil Marketing Companies (OMCs) are continuing to incur huge amounts of under-realisations on the sales of other sensitive petroleum products, viz. diesel, kerosene(PDS) and LPG(Domestic). Based on the current price levels in the international oil market, the retail selling prices (inclusive of the tax elements) of diesel, kerosene(PDS) and LPG(Domestic) should have been higher by Rs.7.65/Lr, Rs.19.60/Lr and Rs.366.28/14.2 kg cylinder respectively at New Delhi with corresponding increases across the rest of the country.
IndianOil is currently incurring an under-realisation of about Rs.159 Crore per day on the sales of these three sensitive products. The gross under-realisation for the year 2010-11 is projected to be as high as Rs.40,600 Crore for IndianOil (Rs.73,600 Crore for all the PSU OMCs). The current increase in the retail selling price (RSP) of Petrol was absolutely warranted and necessitated in the context of the above scenario.
source : http://www.iocl.com/aboutus/NewsDetail.aspx?NewsID=11350&tID=8
Even during the previous revision of the price of petrol with effect from 16th Dec’10, as against the required increase of Rs.4.90/Lt. in the price at New Delhi, the actual increase was confined to Rs.2.96/Lt. thus leaving a gap of Rs.1.94/Lt. in anticipation of a likely fall in the price levels in the global oil market.
However, with the persistent rising trend in the international oil prices, average prices of the Indian crude basket have gone up from $87.83/bbl during the earlier petrol price revision in December to the current level of $92.31/bbl amounting to an increase of $4.48/bbl. Average global prices of petrol during the same period have gone through an even higher increase of $5.17/bbl, rising from a level of $95.30/bbl to $100.47/bbl.
Owing to the substantial increase in oil prices, the Oil Marketing Companies (OMCs) are continuing to incur huge amounts of under-realisations on the sales of other sensitive petroleum products, viz. diesel, kerosene(PDS) and LPG(Domestic). Based on the current price levels in the international oil market, the retail selling prices (inclusive of the tax elements) of diesel, kerosene(PDS) and LPG(Domestic) should have been higher by Rs.7.65/Lr, Rs.19.60/Lr and Rs.366.28/14.2 kg cylinder respectively at New Delhi with corresponding increases across the rest of the country.
IndianOil is currently incurring an under-realisation of about Rs.159 Crore per day on the sales of these three sensitive products. The gross under-realisation for the year 2010-11 is projected to be as high as Rs.40,600 Crore for IndianOil (Rs.73,600 Crore for all the PSU OMCs). The current increase in the retail selling price (RSP) of Petrol was absolutely warranted and necessitated in the context of the above scenario.
source : http://www.iocl.com/aboutus/NewsDetail.aspx?NewsID=11350&tID=8
Crude costs as much as in ' 08 , petrol 28 % more
Petrol cost Rs
45 .52 a litre in Delhi when the
mix of crude that India buys
averaged a little over $ 92 /
barrel in February 2008 . But
today , the fuel costs Rs 58 . 37 ,
or 28 % more a litre , even though crude costs a
tad more than before at $ 93 a barrel in January .
The reason is that in 2008 , when international
crude price was going through the roof, the
government controlled the pricing of petrol . But
since last June , state - run oil companies are free
to set pump prices in tandem with global crude .
The result has been six price revisions for petrol
in the last six months, while the government has
capped prices of diesel and kitchen fuels much
below their cost of production for fear of stoking
an already- high inflation and public anger .
The government took $ 75 /barrel of Indian mix
as the benchmark when it freed up petrol . That
was the level at which crude appeared steady
and there were expectations that the global
economic slowdown would reduce demand and
maintain the priceline ^ if not pull it down .
But with international crude already back to
nudging the $ 100 - mark , how do things stack up
for consumers in India? While deregulating
petrol prices , the government had explained it
would step in if crude went beyond a point .
That promise was repeated through December
by oil minister Murli Deora. While the
government had not spelt out the threshold,
expectations were that a price range of $ 90 -
$ 100 would trigger government intervention .
On Monday , price of Brent crude inched up to
$ 98 / barrel as measured by futures trade for
March delivery in the London market . It had first
breached the $ 100 / barrel - mark in February
2008 . Though NYMEX ( New York Mercantile
Exchange ) is the bellwether for global oil trade,
Brent is clearly indicating what the future holds .
On Sunday, Iranian oil minister Masoud
Mirkazemi , who is also the present president of
oil- producer cartel Opec, said oil at $ 100 /barrel
was `` appropriate ''. He also said there was no
need to hold an emergency meeting to discuss
raising production to calm prices even if they
rose above $ 120 / barrel .
This means the government will have to rejig
duties if it wants to prevent further increase in
fuel prices . Deora said on Monday he had
sought a meeting with finance minister Pranab
Mukherjee . Last fortnight , Deora said on the
sidelines of an ONGC function in Delhi that the
government would cushion consumers from the
full impact of high oil prices .
But going by indications from Mukherjee and
finance secretary Ashok Chawla in the recent
past, any duty rejig will happen only in the
Budget. On Monday , another indication of that
came from petroleum secretary S Sundareshan ,
who told reporters in Mumbai that his ministry
will `` ask for duty reductions in the Budget'' .
There are enough political and economic
grounds for a duty rejig. The Congress on
Monday asked oil marketing companies to
explain Saturday 's price increase . IndianOil
Corporation, the country 's biggest refiner -
marketer, said in a statement that the
companies were still losing Rs 1 .22 a litre on
petrol as they did not pass on the burden
entirely .
But why were petrol prices revised when
inflation is over 8 %? One, the fuel has less than
one percentage point weightage in the price
index. Two, with this hike , oil companies would
reduce losses on petrol in the month and a half
left for the Budget.
They now have to reckon with Rs 7 .65 a litre
loss on diesel , Rs 366 loss on each cooking gas
cylinder and Rs 19 . 60 a litre on kerosene . The
government has said it will make good part of
these losses and oil producers will chip in with
33 % by way of discount . If crude keeps climbing
till the Budget, the government will rejig duties
and the three oil marketers can still expect to
keep their losses for the fiscal within the
estimated Rs 72 , 000 crore.
Last time Deora discussed the pricing issue with
Mukherjee in December , the oil minister asked
the finance ministry to make up half the losses
of oil marketers . Earlier this month , he again
asked Mukherjee to release Rs 10 ,000 crore as
interim relief so that oil companies do not show
loss in the third quarter . The finance ministry
has already released Rs 13 ,000 crore as subsidy .
45 .52 a litre in Delhi when the
mix of crude that India buys
averaged a little over $ 92 /
barrel in February 2008 . But
today , the fuel costs Rs 58 . 37 ,
or 28 % more a litre , even though crude costs a
tad more than before at $ 93 a barrel in January .
The reason is that in 2008 , when international
crude price was going through the roof, the
government controlled the pricing of petrol . But
since last June , state - run oil companies are free
to set pump prices in tandem with global crude .
The result has been six price revisions for petrol
in the last six months, while the government has
capped prices of diesel and kitchen fuels much
below their cost of production for fear of stoking
an already- high inflation and public anger .
The government took $ 75 /barrel of Indian mix
as the benchmark when it freed up petrol . That
was the level at which crude appeared steady
and there were expectations that the global
economic slowdown would reduce demand and
maintain the priceline ^ if not pull it down .
But with international crude already back to
nudging the $ 100 - mark , how do things stack up
for consumers in India? While deregulating
petrol prices , the government had explained it
would step in if crude went beyond a point .
That promise was repeated through December
by oil minister Murli Deora. While the
government had not spelt out the threshold,
expectations were that a price range of $ 90 -
$ 100 would trigger government intervention .
On Monday , price of Brent crude inched up to
$ 98 / barrel as measured by futures trade for
March delivery in the London market . It had first
breached the $ 100 / barrel - mark in February
2008 . Though NYMEX ( New York Mercantile
Exchange ) is the bellwether for global oil trade,
Brent is clearly indicating what the future holds .
On Sunday, Iranian oil minister Masoud
Mirkazemi , who is also the present president of
oil- producer cartel Opec, said oil at $ 100 /barrel
was `` appropriate ''. He also said there was no
need to hold an emergency meeting to discuss
raising production to calm prices even if they
rose above $ 120 / barrel .
This means the government will have to rejig
duties if it wants to prevent further increase in
fuel prices . Deora said on Monday he had
sought a meeting with finance minister Pranab
Mukherjee . Last fortnight , Deora said on the
sidelines of an ONGC function in Delhi that the
government would cushion consumers from the
full impact of high oil prices .
But going by indications from Mukherjee and
finance secretary Ashok Chawla in the recent
past, any duty rejig will happen only in the
Budget. On Monday , another indication of that
came from petroleum secretary S Sundareshan ,
who told reporters in Mumbai that his ministry
will `` ask for duty reductions in the Budget'' .
There are enough political and economic
grounds for a duty rejig. The Congress on
Monday asked oil marketing companies to
explain Saturday 's price increase . IndianOil
Corporation, the country 's biggest refiner -
marketer, said in a statement that the
companies were still losing Rs 1 .22 a litre on
petrol as they did not pass on the burden
entirely .
But why were petrol prices revised when
inflation is over 8 %? One, the fuel has less than
one percentage point weightage in the price
index. Two, with this hike , oil companies would
reduce losses on petrol in the month and a half
left for the Budget.
They now have to reckon with Rs 7 .65 a litre
loss on diesel , Rs 366 loss on each cooking gas
cylinder and Rs 19 . 60 a litre on kerosene . The
government has said it will make good part of
these losses and oil producers will chip in with
33 % by way of discount . If crude keeps climbing
till the Budget, the government will rejig duties
and the three oil marketers can still expect to
keep their losses for the fiscal within the
estimated Rs 72 , 000 crore.
Last time Deora discussed the pricing issue with
Mukherjee in December , the oil minister asked
the finance ministry to make up half the losses
of oil marketers . Earlier this month , he again
asked Mukherjee to release Rs 10 ,000 crore as
interim relief so that oil companies do not show
loss in the third quarter . The finance ministry
has already released Rs 13 ,000 crore as subsidy .
Fire breaks out at IOC ' s Navi Mumbai depot
A fire erupted at an Indian Oil
Corporation depot in Navi Mumbai and 25 fire
tenders have been rushed to the spot, the police
said . The fire broke out shortly after midnight.
No casualties have been reported so far . A
company official said the depot in Taloja stored
lube oil but had no stocks of crude oil.
Corporation depot in Navi Mumbai and 25 fire
tenders have been rushed to the spot, the police
said . The fire broke out shortly after midnight.
No casualties have been reported so far . A
company official said the depot in Taloja stored
lube oil but had no stocks of crude oil.
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