Category: Oil & Gas

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 as well as supermajors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), which is handling the sale, […]

Initial bids for privatisation of Bharat Petroleum Corp Ltd (BPCL) will close on Monday amid indications of supermajors UK’s BP Plc, Total of France and Saudi Aramco unlikely to bid. The government, which is selling its entire 52.98 per cent stake in India’s second largest oil refining and marketing company, had on four occasions extended […]

GAIL (India) Limited recorded 13% increase in turnover to Rs 13,611 crore vis-a-vis Rs 12,060 crore in Q1 FY21 while Profit before Tax (PBT) increased to Rs 1,551 crore as against Rs 356 crore in Q1 FY21. The Profit after Tax (PAT) increased to Rs 1,239 crore in Q2 vis-a-vis Rs 256 crore in Q1 […]

More than two dozen people were injured- 10 of them seriously- after an LPG cylinder burst in a sweet shop in Manglaur on Saturday. Some passers by also sustained injuries due to the blast. The injured persons were taken to the civil hospital in Roorkee from where after primary treatment, nine were referred to the […]

State-run ONGC plans to hike output from its onshore mature fields through production enhancement contracts (PEC) with oil and gas companies who have technical expertise, financial capability and resources to increase production by improving the recovery from such fields. The company has already floated a tender, seeking expressions of interest (EoI) from global oil and […]

Hindustan Petroleum Corp Ltd (HPCL) on Wednesday reported more than doubling of its second quarter net profit on the back of a surge in refining margins and inventory gains. Net profit in July-September came at Rs 2,477 crore as compared to Rs 1,052 crore a year back, HPCL Chairman and Managing Director Mukesh Kumar Surana […]

Prices of petrol and diesel continued to remain unchanged on Sunday on the back of weak crude oil prices. In the national capital, petrol was sold for Rs 81.06 per litre. Prices in the other key cities of Mumbai, Chennai and Kolkata were Rs 87.74, Rs 84.14, Rs 82.59 per litre, respectively. Prices of both […]

State-owned Indian Oil Corp (IOC) on Friday said international oil prices have been range-bound in the last few weeks, warranting no revision in retail petrol and diesel rates. While petrol price hasn’t changed since September 22, diesel rates have been static from October 2. “Crude oil has not seen any drastic movement,” IOC Chairman Shrikant […]

Privatisation-bound PSU refiner Bharat Petroleum Corporation Ltd. (BPCL) has delayed expansion plans for its refinery projects, pending its share sell off programme that will see government completely exiting from the company and handing over its management to a strategic investor. BPCL has plans to expand its Bina refinery and take efficiency improvement measures at Mumbai […]

India’s oil import bill may fall further in the remaining period of the current fiscal with Saudi Arabia looking at giving discount in crude it sells to Asian Buyers. Analysts tracking the development said that the benchmark Dubai prices of oil have fallen and so have the gross refining margins. If this holds, a 10-20 […]

Police claim to have busted a gang of robbers, who were involved in looting of a petrol pump in Giridih, while two gang members are still at large. Police arrested the accused from Simutalla area in Chakai on Saturday afternoon following a tip-off, said SP of Giridih, Amit Renu. The accused have been identified as […]

Oil marketing companies continued to hold the pause button on retail fuel prices on Sunday also due to subdued global crude prices. The Brent crude is currently below the $42 per barrel mark. Petrol prices have been unchanged for over a month now while diesel prices remained same for the 23rd straight day across the […]