Shares of Bharat Petroleum Corporation Limited NSE -3.51 % (BPCL) cracked over 3 per cent in Tuesday’s trade after reports suggested that the government on Monday received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL but billionaire Mukesh Ambani’s Reliance Industries (RIL) as well as Saudi Aramco, BP and Total […]
Category: Oil & Gas
Hindustan Petroleum Corporation Ltd. shares drop 0.96% as Sensex rises
Shares of Hindustan Petroleum Corporation Ltd. traded 0.96 per cent down at Rs 217.5 at 01:33PM (IST) on Tuesday, even as BSE benchmark Sensex gained 268.6 points to 43906.58. The stock had closed at Rs 219.6 in the previous session. The stock quoted a 52-week high price of Rs 302.6 and 52-week low of Rs […]
Shell seeks more clarity on decarbonisation policy and further reform in power sector
New Delhi: Oil and gas giant Shell, which is shifting its emphasis from polluting fossil fuel to low-carbon electricity and new fuels globally, wants India to offer more policy clarity on decarbonisation and further reform the power sector to encourage free electricity market, bigger power trading exchange and preference for renewables in the merit order.
Indraprastha Gas Ltd. shares rise 1.65% as Nifty gains
Shares of Indraprastha Gas NSE 1.37 % Ltd. traded 1.65 per cent up at Rs 446.4 on Wednesday at around 10:46AM (IST), while the benchmark BSE Sensex advanced 46.66 points to 43999.37. As many as 74,970 shares changed hands on the counter with a total value of Rs 3.34 crore. The stock quoted a 52-week […]
ONGC signs contract for 7 blocks, OIL 4 blocks
NEW DELHI: State-owned Oil NSE 0.11 % and Natural Gas Corp ( ONGC NSE -0.07 %) on Tuesday signed contracts for seven oil and gas blocks it had won in the latest bid round that saw scant participation from the private sector. Oil India Ltd signed up for the remaining four blocks awarded under the […]
Indian oil firms need to bring in foreign players to unlock resources: Dharmendra Pradhan
NEW DELHI: India’s oil minister Dharmendra Pradhan asked exploration companies to consider farming out their acreages to global players with advanced technology to expedite development and raise oil and gas output. India, the world’s third biggest oil importer and consumer, depends on foreign purchases for over 80% of its oil needs. The nation’s oil and […]
Bharat Petroleum confident of meeting 10% ethanol blending target by 2022
MUMBAI: Bharat Petroleum NSE -3.43 %, which is the national coordinator for ethanol blending by state-owned refiners, is confident of meeting the new government target of blending 10 per cent biofuel with petrol by 2022 with the latest addition of maze to the list of feedstock for the green fuel. State-run oil marketers are required […]
Oil jumps 4% on latest Covid-19 vaccine progress
Oil prices jumped more than 4% on Monday, recouping the previous session’s losses after Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19. Brent crude futures for January were up $1.79, or 4.2%, to $44.57 a barrel by 1420 GMT, while U.S. West Texas Intermediate crude for December was up $1.84, or […]
Oil prices edge higher ahead of OPEC+ meeting, vaccine hopes
SINGAPORE: Oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine. Brent crude futures for January rose 16 cents, or 0.4%, to $43.98 a barrel by 0104 GMT and U.S. West Texas […]
BPCL stake sale gets multiple bids; RIL, Aramco skip race
New Delhi: Global and domestic companies submitted expressions of interest (EoI) for the government’s stake in Bharat Petroleum Corp Ltd (BPCL NSE -3.86 %) by the Monday deadline, said people with knowledge of the matter. “Strategic disinvestment of BPCL now moves to the second stage after multiple expressions of interest have been received,” finance minister […]
ONGC sells January Russian Sokol crude at highest premium in four months: Sources, data
SINGAPORE: Indian explorer ONGC Videsh has sold a cargo of Russian Sokol crude for January loading at the highest premium in four months, according to trade sources and Reuters data The producer sold the 700,000-barrel cargo to Japanese trader Mitsui at $1.45 a barrel above Dubai quotes, the sources said
Fire at Oil India’s Assam well extinguished after nearly six months
GUWAHATI: State-run explorer Oil India NSE 0.59 % Ltd said on Monday a deadly fire at its well in eastern India that that started raging nearly six months ago has been “doused completely.” “There is no pressure in the well now and the same will be observed for 24 hrs to check,” Oil India said […]