Category: Oil & Gas

Government-owned oil marketing company, Bharat Petroleum Corporation Limited (BPCL), has issued two tenders to procure renewable power though open access from solar and non-solar projects for its Mumbai refinery. BPCL is looking to procure 26.35 million units from solar energy projects, and 39.52 million units of non-solar renewable power on a short to medium term […]

Saudi Arabia’s new oil minister Prince Abdulaziz bin Salman has assured India of meeting all its committed oil supplies as the Kingdom looks to restoring production to pre-strike levels by the end of this month, Petroleum Minister Dharmendra Pradhan said. Pradhan spoke to his Saudi counterpart on phone on Thursday to discuss in details of […]

PK Gupta, the Principal Chief Commissioner Income Tax of Dehradun Zone on Thursday said that two Public Sector Undertaking (PSU) companies in the zone have not paid taxes worth Rs 1,111 crore this year. “Oil and Natural Gas Corporation (ONGC) and Tehri Hydro Development Corporation Limited (THDC) are two big PSU companies in the Dehradun […]

The Pollution Control Board, Assam has slapped a fine of Rs 2.05 crore on PSU firm Oil and Natural Gas Corporation (ONGC) for allegedly violating an order by the Supreme Court and causing pollution to the environment. The board’s order was issued considering violation of environmental laws in six wells of the state-owned energy behemoth […]

Saudi Aramco has offered Indian Oil Corp Arab Heavy crude oil instead of Arab Light following an attack on its oil facilities over the weekend, an industry source told Reuters on Tuesday. IOC will receive full allocated volumes from Saudi Aramco in September and October, the source said, declining to be named as he was […]

Oil prices surged more than 15 per cent to their highest level in nearly four months after an attack on Saudi Arabia’s oil facilities that knocked out more than five per cent of global oil supply. Brent crude futures jumped more than 19 per cent to a session high of 71.95 dollars a barrel at […]

India, the world’s third-largest oil consumer, will not be hit by a reduction in production at its No. 2 supplier Saudi Arabia, the Oil Ministry said on Monday. “Yesterday (September 15), Saudi Aramco officials informed the Indian refiners that there would be no shortage of supplies to them. Ministry of Petroleum and Natural Gas is […]

Shares of Bharat Petroleum Corporation Ltd gained 7 per cent to Rs 411.55 in Friday’s trade on the BSE on reports that the government is considering a plan to sell its stake to a global oil company. “India is considering a plan to sell the nation’s second-largest state refiner and fuel retailer to a global […]

A fire broke out in an LPG plant of Hindustan Petroleum Corporation Limited here on Thursday, leaving three persons injured, officials said. Unnao district magistrate and police superintendent rushed to the spot and have asked people in adjoining areas to vacate their houses and shift to safer places. Fire tenders have been rushed from nearby […]

The Oil and Natural Gas Corporation (ONGC) on Wednesday announced it will invest more than Rs 13,000 crore in exploring oil and gas by drilling over 220 wells across Assam in the next five years. The company said in a statement that it has signed an MoU with the Assam government for enhancing its exploration […]

With the olefins cycle likely to decline further, domestic petrochemical producers are expected to face tough times going forward which in turn is bound to lead to subdued returns. As per an note on the industry, most Indian petrochemical players have enjoyed robust cash earnings over the past several years and their net debt levels […]

State-owned refiner, Bharat Petroleum (BPCL), has swooped in to buy American oil that was en route to China but due to arrive after new tariffs kicked in. BPCL bought one or two cargoes of US crude that were recently diverted from its original destination of China, Refineries Director R. Ramachandran said in an interview. He […]