With a view to “having better access to foreign capital and have a global reach,” the government is considering listing state-run oil explorer ONGC on an overseas stock exchange. The idea was discussed last week during a meeting called by Prime Minister Narendra Modi to review developments in the energy and mining sectors, sources said.
The Q2 EBITDA for Indraprastha Gas at Rs 3.1 bn was in line with our/street estimate and PAT at Rs 1.9 bn was 3% beat on our estimate (-3% vs. street) on higher other income.
Oil prices have fallen sharply since passing a cyclical peak at the start of October, amid surging production and mounting concerns about the state of the global economy and the outlook for consumption growth in 2019.
Petrol, diesel prices today: After days of continuous cut, the oil marketing companies (OMCs) kept the prices of petrol and diesel unchanged on Wednesday. In Bengaluru, petrol can be availed at Rs 78.05 per litre and diesel at Rs 72.58 per litre today.
Indications from the OPEC that it would cut the output of crude oil by 1 million barrels per day starting January sent stocks of oil marketing companies (Indian Oil, BPCL and HPCL) crashing on Monday and brokerages downgraded their stocks. For instance, Axis Capital in a report on Monday downgraded stocks
A week after the Cabinet approved filling the underground strategic oil reserve at Padur in Karnataka by foreign oil companies, Abu Dhabi
With liberal payouts as dividend and buybacks over the last two years, the central public sector undertakings’ (CPSE) cash surpluses have depleted considerably, so it is likely that their aggregate dividend transfers to the government this year would be some Rs 10,000 crore or about 20% less than the budgeted Rs 52,500 crore.
The Supreme Court on Monday allowed Adani Gas to supply natural gas to commercial and industrial units in the areas of Sanand, Bavla and Dholka of Ahmedabad district of Gujarat till further orders.
With GAIL (India) putting its gas pipeline projects on the fast track, the company has gone on an overdrive to get customers, even though the response has been poor in states such as West Bengal.
Close on the heels of Delhi, Maharashtra and Gujarat, Kerala is ramping up its CNG use on the road. As many as 597 CNG stations are in pipeline in the state, within a year.