Jet fuel price on Saturday was hiked by steep 6.7 per cent, reversing price cuts of last month, while an increase in petrol and diesel prices may be on the anvil as international prices firmed up. Aviation turbine fuel (ATF) price was increased by Rs 3,885 per kilolitre (kl), or 6.7 per cent, to Rs […]
Category: Oil & Gas
Exxon posts $2.7 billion quarterly profit after unprecedented year
Exxon Mobil reported profits of USD 2.73 billion in the first quarter, after a tumultuous year led to major spending reductions. The oil giant brought in USD 59.15 billion in revenue, up 5 per cent from USD 56.16 billion during the same quarter last year. It exceeded analyst projections for the quarter. The The Irving, […]
Reliance Industries’ profit more than doubles to Rs 13,227 crore in Q4
Mukesh Ambani-led Reliance Industries Ltd, or RIL, reported a consolidated net profit of Rs 13,227 crore for the quarter ended March 2021 (Q4), more than double the Rs 6,348 crore reported in the year-ago quarter. While the jump should be seen in the light of last year’s low base, when profit was lower on account […]
Reliance Industries Q4 net profit more than doubles to Rs 13,227 crore
Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported consolidated net profit of Rs 13,227 crore for the quarter ended March 31, 2021 (Q4FY21), up 108 per cent from Rs 6,348 crore logged in the corresponding quarter last year (Q4FY20). Sequentially, the profit rose 1 per cent. It was Rs 13,101 crore in the December […]
Oil prices increase, bullish demand outlook offsets India concerns
LONDON (Reuters) – Oil prices extended gains on Thursday after rising 1% in the previous session, as bullish forecasts of recovering demand outweighed concerns about the impact of rising COVID-19 cases in Brazil, India and Japan. Brent rose 89 cents, or 1.3%, to $68.16 a barrel by 1115 GMT, and U.S. West Texas Intermediate crude […]
Shell raises its dividend for second time in six months as profits surge
Royal Dutch Shell’s (RDSa.L) profits leapt to $3.23 billion in the first three months of the year and the energy company raised its dividend as planned but warned that the outlook remained uncertain due to the coronavirus pandemic. Shell’s adjusted earnings were above an average analyst forecast of $3.125 billion and also ahead of earnings […]
Major Chinese investors in talks to buy stake in Saudi’s oil firm Aramco
HONG KONG (Reuters) – Major Chinese investors are in talks to buy a stake in Saudi Aramco, several sources told Reuters on Wednesday, as Saudi Arabia’s state oil firm prepares to sell another slice of its business to international investors. Saudi Arabia was in discussions to sell 1% of Aramco to a leading global energy […]
RIL gains 2% on report co discusses stake sale with Aramco; up 7% this week
Reliance Industries shares advanced 2.4 per cent in the intra-day deals on Thursday to hit a high of Rs 2,045 apiece on the BSE after a report suggested that the Mukesh Ambani controlled company has held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in […]
Sorry, Saudi Aramco, Reliance Industries just isn’t that into you
Could one of the energy industry’s longest-running on-again, off-again romances be catching fire again? Saudi Arabian Crown Prince Mohammed bin Salman seems to think so. “There are discussions happening right now about a 1 per cent acquisition by one of the leading energy companies in the world” in state-owned Saudi Arabian Oil Co, he said […]
Mukesh Ambani doesn’t have much need for a 1% stake in Saudi Aramco
Could one of the energy industry’s longest-running on-again, off-again romances be catching fire again? Saudi Arabian Crown Prince Mohammed Bin Salman seems to think so. “There are discussions happening right now about a 1% acquisition by one of the leading energy companies in the world” in state-owned Saudi Arabian Oil Co., he said in a […]
India’s oil refiners eye more exports as Covid-19 outbreak hits demand
Oil refiners in virus-battered India may decide to ramp up fuel exports as lockdowns across the country cut into local consumption, while a recovery in global demand lifts profits from potential overseas sales. State-owned Indian Oil Corp. and Bharat Petroleum Corp. are weighing the option of raising oil-product exports against cutting run rates, according to […]
Petrol and diesel prices remain unchanged; revisions expected next month
Fuel prices in the country remained unchanged on Wednesday as oil marketing companies decided to wait for state elections to get over before restarting daily revision of petrol and diesel prices in line with price movement globally. Sources indicated that price revisions may begin early next month after results to state elections are declared. However, […]