BP on Tuesday announced the appointment of Kartikeya Dube as the new India head, replacing long-time executive Sashi Mukundan who is retiring. In a statement, the company said Dube has been appointed Head of Country (HoC) and senior vice president (gas and low carbon) for India with effect from July 1, 2024. “Sashi Mukundan, who […]
Category: Oil & Gas
Adani Total Gas Q4 result: Profit up 72% at Rs 1.68 bn on higher CNG sales
India’s Adani Total Gas reported a 72% surge in fourth-quarter profit on Tuesday, helped by strong demand in its compressed natural gas (CNG) segment. Consolidated profit rose to Rs 16.8 crore ($20.14 million) in the three months ended March 31 from Rs 97.91 crore a year earlier, marking a fifth straight rise in quarterly profit […]
Adani Total Gas Q4 results: Profit rises 59% to Rs 165 cr, revenue up at 5%
Adani Total Gas Ltd, the city gas retailing joint venture of Adani group and TotalEnergies of France, on Tuesday reported a 59 per cent rise in March quarter net profit on the back of a surge in CNG sales volumes. The company posted a net profit of Rs 165 crore in the January-March period as […]
Indian Oil Q4FY24 results: Net profit falls 49% to Rs 5,148 crore
Indian Oil Corporation Limited on Tuesday reported a 49.96 per cent year-on-year fall in consolidated net profit at Rs 5,148.87 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 10,289.82 crore during the same period last year (Q4FY23). Sequentially, the net […]
India’s oil import bill could swell to $101-104 billion in FY25: ICRA
India’s net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil […]
Barometers trade higher; Oil & gas shares rally for 4th day
The equity benchmarks traded with limited gains in morning trade. The Nifty traded above the 22,500 level. Oil & gas shares witnessed buying demand for the fourth consecutive trading session. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 502.58 points or 0.68% to 74,232.74. The Nifty 50 index added 105.40 points […]
‘Reliance buys its first Canadian crude from Trans Mountain pipeline’
Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner’s first oil purchase from Canada’s new Trans Mountain pipeline, trade sources said. Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start […]
Chennai Petroleum sees two-year delay in building 180,000 bpd refinery
India’s Chennai Petroleum Corp Ltd will build a 180,000 barrels per day (bpd) refinery at Nagapattinam in Southern Tamil Nadu State by the end of 2027, two years later than initially planned, its head of finance Rohit Kumar Agrawala said on Monday. India, the world’s third biggest oil consumer and producer, is expanding its refining […]
Yemen’s Houthis strike again: Oil tanker damaged, US drone shot down
Yemen’s Houthis have struck again, with reports emerging of an oil tanker damaged and a US drone shot down amid escalating tensions over Israel’s offensive in Gaza, Al Jazeera reported. In his latest televised address, the Houthis’ military spokesman, Yahya Saree, claimed responsibility for targeting the “British oil ship Andromeda Star” in the Red Sea […]
India receives oil cargo in Russian SCF tanker after brief halt: Reports
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 […]
Russia, Ukraine exchange fire, strike each others’ refinery and gas targets
Russia and Ukraine exchanged fire on energy facilities overnight, with an oil refinery damaged in Russia’s Krasnodar region while Ukraine sustained a missile barrage on gas infrastructure and other targets. Russia reported a Ukrainian drone attack on the Slavyansk oil refinery in the Krasnodar region, the first such strike since early this month. The state-run […]
Missiles fired by Houthi rebels damage Panama-flagged oil tanker in Red Sea
Ballistic missiles fired by Yemen’s Houthi rebels caused minor damage to a Panama-flagged oil tanker travelling through the Red Sea on Friday, authorities said. The attack follows an uptick in assaults launched by the Houthis in recent days after a relative lull in their months-long campaign over Israel’s war on Hamas in the Gaza Strip. […]