Category: Oil & Gas

Shares of Oil India rallied 8.5 per cent to hit eight-month high of Rs 242 per share in Monday’s intra-day trade, after the company reported highest-ever quarterly profit of Rs 1,746.1 crore in the October-December quarter (Q3FY23) from Rs 1,244.9 crore, in the year-ago period. The state-owned firm’s total income, too, climbed 27 per cent […]

Nayara Energy, India’s second largest private oil refining and fuel marketing company, saw its net profit rise by a marginal 2 per cent in the third quarter ended December 31 as the company undertook a month-long maintenance shutdown and windfall tax impacted margins. Net profit of Rs 869.8 crore in October-December compared with Rs 850.3 […]

Southern Petrochemicals Industries Corporation Ltd (SPIC) an agri-nutrient and fertiliser company has reported profit after tax for the Oct-Dec ’22 quarter at Rs 85.18 crore, the company said on Saturday. The flagship firm of Singapore-based AM International had registered a profit after tax at Rs 51.43 crore in the corresponding quarter of last year. For […]

BENGALURU (Reuters) -State-run explorer Oil India reported a bigger-than-expected 40% jump in third-quarter profit on Friday, aided by increased production and better price realisation. Crude oil production for the three months ended Dec 31 increased 7.03% from a year earlier, while natural gas output rose 1.64%, fuelling a more than 57% jump in revenue from […]

Russia will cut oil production by 500,000 barrels per day next month in response to the West capping the price of its crude over the war in Ukraine, Deputy Prime Minister Alexander Novak said Friday, according to multiple Russian news media reports. As of today, we fully sell all our crude output, but as we […]

There are fortunes to be made delivering Russian crude oil to India. Price assessments by Platts, a unit of S&P Global, show a margin of more than $20 between a barrel of Russia’s Urals crude lifted in the Baltic region and the same oil delivered to the west coast of India. On a flow that’s […]

LONDON (Reuters) – Oil prices were steady on Thursday, as optimism over recovering Chinese demand was offset by U.S. oil inventories hitting their highest in months and signs the U.S. Federal Reserve could keep raising interest rates. Brent crude futures gained 30 cents to $85.39 a barrel by 0856 GMT, while U.S. West Texas Intermediate […]

If international price of fuel comes down from its current price of USD 750 per metric tonne, domestic LPG can then be sold at “even more economical rates,” the Centre told Lok Sabha on Thursday. The day international price is determined by a “variety of factors” and “one of the analysis I read said that […]

The Essar Group plans to rearrange its priorities to focus on four major verticals like energy, infrastructure and logistics, technology and retail, as well as metals and mining. Speaking to IANS on the sidelines of the India Energy Week, which was held in Bengaluru between February 6 to 8, Essar Capital Director Prashant Ruia informed […]

Adani Total Gas reported a consolidated net profit of Rs 150 crore for the December 2022 quarter, up 17 per cent from Rs 128 crore in the same quarter last year. Consolidated revenue from operations stood at Rs 1,185 crore (from Rs 932 crore last year), up 27 per cent. “During the quarter, Adani Total […]

Adani Total Gas Ltd — the joint venture of Adani group and TotalEnergies of France which retails CNG to automobiles and piped gas to households — on Thursday reported a 13 per cent increase in net profit as sales rose. Net profit of Rs 148 crore in October-December compares to Rs 132 crore earnings in […]

State-run GAIL (India) Limited entered into a advance pricing agreement (APA) with the Central Board of Direct Taxes (CBDT) for determining the transfer pricing margin payable on its long-term LNG sourcing contract from the United States for a period of five years. GAIL is the first public sector undertaking in oil & gas sector in […]