The Petroleum and Natural Gas Regulatory Board has received 225 bids for 50 geographical areas (regions) that were offered in the tenth city gas distribution bid round. The technical bids will be opened between February 7 and 9 and after technical and financial evaluation, the entities will be shortlisted by February-end, a PNGRB statement said.
Category: Oil & Gas
LPG coverage has reached 90%: Pradhan
The coverage of cooking gas in the country has increased to nearly 90 per cent in the last five years, according to Minister for Petroleum and Natural Gas, Dharmendra Pradhan.
Centre should be ready for LPG subsidy hike if crude price rises: study
The Pradhan Mantri Ujjwala Yojana (PMUY) has resulted in a seemingly simple mechanism of providing universal access to cooking gas. This has transformed the lives of the destitute, empowering them through socio-economic inclusion, according to a study Lighting up Lives through Cooking Gas and transforming Society by Professor SK Barua, former Director and Faculty member, […]
Hit by falling crude prices, HPCL’s net profit crashes by 87% to Rs. 247.5 crore
Hindustan Petroleum Corporation Ltd (HPCL) has reported a Rs. 247.55-crore net profit for the third quarter of FY19. This is 87 per cent lower than the Rs. 1,949.69-crore profit reported in the corresponding quarter of FY18. “The decrease in profit is mainly due to inventory losses caused by falling crude prices and higher fuel and […]
US oil prices edge up as market eyes tighter supply
US oil prices inched up on Tuesday, buoyed by expectations of tightening global supply due to US sanctions on Venezuela and production cuts led by OPEC. US West Texas Intermediate (WTI) crude futures were at $54.77 per barrel at 0223 GMT, up 21 cents or 0.4 per cent. They closed down 1.3 per cent on […]
Oil prices hit 2019 highs as sanctions against Venezuela, OPEC cuts bite
Oil prices rose to their highest so far this year on Monday as OPEC-led supply cuts and US sanctions against Venezuela’s petroleum industry tightened markets.
Essar Steel: BPCL prefers liquidation over Arcelor plan
Public sector oil refiner Bharat Petroleum Corporation Limited (BPCL) — one of the Operational Creditors (OCs) of the distressed Essar Steel India Limited (ESIL) — on Monday sought liquidation of the company objecting to ArcelorMittal’s resolution proposal, which is being considered by the Ahmedabad Bench of National Company Law Tribunal (NCLT).
Govt should be ready to hike LPG subsidy if crude prices rise: Study
New Delhi, February 4The Pradhan Mantri Ujjwala Yojana (PMUY) has resulted in a seemingly simple mechanism of providing universal access to cooking gas. This has transformed the lives of the destitute, empowering them through socio-economic inclusion, according to a study Lighting up Lives through Cooking Gas and transforming Society by Professor SK Barua, former Director […]
Oil prices edge lower, tightening supply outlook supports
Crude oil prices edged lower on Monday after sharp gains during the previous session but were supported by expectations of shrinking supply and signs that China-US trade tensions could ease.
Oil PSU capex drops to 4-year low for 2019-20
State-owned oil firms’ capital expenditure has hit a four-year low with PSUs such as ONGC and IOC planning to invest Rs 93,693 crore in oil and gas exploration, refining and petrochemicals in the 2019-20 fiscal year.
LPG subsidy zooms 63% to ₹32,989 cr for 2019-20
The Centre has earmarked ₹32,989 crore as cooking gas subsidy for the financial year 2019-2020. Of this, ₹29,500 crore is for disbursal under the Direct Benefit Transfer for liquefied petroleum gas (LPG) subsidy. Another ₹2,724 crore has been provisioned for LPG connections to poor households, and ₹674 crore is for an additional subsidy payable for […]
Oil prices climb on OPEC cuts, hopes of US-China trade deal
Oil prices held steady on Friday, torn between hopes the United States and China could soon settle their trade disputes and new data raising fresh concerns over China’s economic slowdown.