Category: Oil & Gas

Petronet LNG Ltd, India’s biggest liquefied natural gas importer, on Tuesday reported an 11 per cent drop in its September quarter net profit on reduced volumes. Net profit of Rs 823.02 crore in the July-September was 11.24 per cent lower than the net profit of Rs 927.3 crore a year back, according to the company’s […]

Reliance Industries Ltd has exited the last of its shale gas assets in the US after it agreed to sell its holding in EagleFord shale gas assets for an undisclosed sum of money. Reliance had between 2010 and 2013 bought stakes in three upstream exploration joint ventures with Chevron, Pioneer Natural Resource, and Carrizo Oil […]

Reliance Industries (RIL) on Monday announced its exit from the shale gas business in North America, after it sold the last of its remaining assets in the Eagleford shale fields in Texas, US. Reliance Eagleford Upstream Holding, a wholly-owned step-down subsidiary of RIL, on November 5 agreed to sell some of its upstream shale gas […]

The National Company Law Tribunal’s (NCLT) Mumbai bench on Monday stayed an extraordinary general meeting (EGM) convened by Future Retail (FRL) to approve its merger with Reliance Industries (RIL). The tribunal, which heard the case on Monday, stated that FRL cannot hold shareholder meetings, even temporary ones, till it pronounces a detailed verdict. Earlier, FRL […]

The BJP on Sunday announced it will hit the streets for five days from November 8 in West Bengal to press for the demand that the Mamata Banerjee government slash Value Added Tax (VAT) on petrol and diesel. BJP state unit vice-president Raju Banerjee said the party will take out a rally from its headquarters […]

After UK-based Cairn Energy PLC, about a dozen other firms affected by India’s retrospective taxation rule will file application with the income tax (I-T) authorities in the next few days to initiate settlement of their tax disputes ahead of the November 16 deadline, sources aware of the matter told FE. Vedanta, a related party in […]

The National Company Law Tribunal has approved state-owned gas utility GAIL (India) Ltd’s acquisition of bankrupt Infrastructure Leasing and Financial Services’ 26 per cent stake in ONGC Tripura Power Company (OTPC), GAIL said on Friday. OTPC is a special purpose vehicle between Oil and Natural Gas Corporation (ONGC), IL&FS Group and Government of Tripura (GoT) […]

Union minister Nitin Gadkari on Sunday said it is now time that cement and steel industries start using green hydrogen as energy instead of coal for production. He was speaking at the inauguration of various facilities of Manganese Ore India Limited (MOIL) based in Nagpur. “It is now time for using green hydrogen as energy […]

India will use whatever “margin of persuasion” it has while talking to oil-producing nations to make sure the fuel prices are down in the country, Oil Minister Hardeep Singh Puri said on Friday. He added that India’s dependence on traditional energy sources such as petrol and coal will remain for a very long time and […]

The Centre is planning to allow the sale of a small LPG cylinder of 5-kg, currently marketed by oil marketing companies (OMCs) via their retail outlets, also through the network of 5.32 lakh of ration shops as these could be effective distribution points for the targeted consumers. In a meeting with the state governments on […]

The Centre has received a final dividend of Rs 6,665 crore for FY21 from fuel retailer-cum-refiner BPCL, which is on the block for privatisation. “Govt received final dividend of Rs 6,665 crore from BPCL for the FY 2020-21. This includes special dividend on account of gains especially on sale of BPCL’s stake in Numaligarh Refinery […]

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of petrol and diesel were left unchanged by oil marketing companies for the second day straight on Tuesday. Petrol in the national capital today costs Rs 107.59 per litre, while Diesel in the capital city is retailing at Rs 96.32 per litre. […]