(Reuters) – India’s crude oil imports in March fell by 1.1 per cent from a year earlier to 20.69 million metric tonnes, government data released on Friday showed. Data from the Petroleum Planning and Analysis Cell’s (PPAC) website also showed imports of crude oil products dipped nearly 12 per cent to 3.83 million tonnes on […]
Category: Oil & Gas
Oil up on geopolitical tensions, gains curbed by fading Fed rate cut hopes
Oil prices edged up slightly on Friday, boosted by worries about geopolitical tensions but still under pressure from U.S. data showing inflation rose moderately in March, dampening hopes the Federal Reserve would cut interest rates soon. Brent crude futures were up 7 cents, or 0.08%, to $89.08 a barrel at 1109 ET (1509 GMT). U.S. […]
India receives oil cargo in Russian SCF tanker after brief halt: Report
A ship controlled by U.S.-sanctioned Russian shipping giant Sovcomflot (SCF) discharged fuel oil at a western Indian port on Friday, two sources familiar with the matter said, indicating a resumption in the use of SCF vessels to supply Moscow’s key market after a brief halt. The SCF Baltica, carrying 90,000 metric tons of fuel oil […]
RIL gets S&P, Fitch thumbs-up as strong earnings keep leverage in check
Reliance Industries Ltd has won a vote of confidence from global rating agencies S&P and Fitch after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. S&P Global Ratings and Fitch Ratings in separate notes spoke of its EBITDA (loosely known as pre-tax profit) […]
Varanasi pilot for deployment of green hydrogen fuel cell vessels on NW-I
Varanasi has been selected as the pilot location for deployment of green hydrogen fuel cell inland vessels on National Waterways-I, aligning with the government’s Harit Nauka guidelines, an official statement said on Friday. Discussions are ongoing with potential players for facilities like bunkering, it added. It was also informed that due to its low emission […]
Crude oil processing volumes rose to 23.4 mmt in March: PPAC data
Crude oil volumes processed by Indian refiners rose to 23.4 million metric tonnes (MMT) in March, data released by the Petroleum Planning and Analysis Cell (PPAC) on Thursday showed. Processed volumes rose by 1.6 per cent compared to 23 MMT processed in March 2023. On a sequential basis, however, volumes rose by 11.9 per cent […]
CPCL Q4 results: Net profit falls 39% to Rs 628 cr on foreign exchange loss
Chennai Petroleum Corporation Ltd, a subsidiary of Indian Oil Corporation (IOC), on Wednesday reported 39 per cent drop in March quarter net profit on lower prices and foreign exchange loss. Consolidated net profit of Rs 627.89 crore in January-March FY24 was lower than Rs 1,012.81 crore earning in the same period last year, according to […]
Chennai Petroleum stock up 17% on strong Q4 results, dividend announcement
Chennai Petroleum Corporation stock price soared 16.5 per cent to Rs 1,081.65 apiece, also its fresh record high, on the BSE in Wednesday’s intraday trade after the energy firm posted solid January-March quarter result (Q4FY24). That apart, the company’s 100 per cent rise in dividend payout further boosted investor sentiment. At 1:30 PM, Chennai Petroleum […]
Reliance wins govt approval for investment to raise KG-D6 block’s output
Reliance Industries Ltd has got government approval for making additional investments in developing gas reserves in its KG-D6 block in the Bay of Bengal that can add 4 to 5 million standard cubic meters per day to the production, a company official said. Reliance and its partner bp Plc currently produce around 30 mmscmd or […]
No decision yet on ADNOC LNG project tie-up after Nikkei report: Mitsui
Japan’s Mitsui & Co said on Tuesday nothing has been decided on a liquefied natural gas (LNG) project in the United Arab Emirates, after the Nikkei reported it was teaming up with Abu Dhabi National Oil Company (ADNOC) on it. The Nikkei reported ADNOC would have a stake of around 60% and Mitsui 10% of […]
RIL Q4 results: Profit falls 1.8% to Rs 18,951 cr, Rs 10 dividend announced
Missing analysts’ estimate, Mukesh Ambani-promoted Reliance Industries Limited (RIL) on Monday reported a 1.8 per cent year-on-year (Y-o-Y) decline in its consolidated net profit (attributable to the owners of the company) for the quarter ended March 2024 (Q4FY24) because of higher tax expenses. At Rs 18,951 crore, the net profit, however, was nearly 10 per […]
Reliance Industries Q4 results: Profit falls 2% to Rs 18,951 crore
Oil-to-telecom conglomerate Reliance Industries Limited (RIL) on Monday reported a consolidated net profit of Rs 18,951 crore for the quarter that ended on 31 March 2024 (Q4FY24). This was a 1.8 per cent decline in net profit compared to Rs 19,299 crore reported during the same period last year (Q4FY23), which was also the highest […]