Category: Oil & Gas

Falling inflation and declining global crude oil prices have created space for the Reserve Bank of India to cut interest rates, S&P Global Ratings said Tuesday.

To hold on to their market monopoly against the aggressive expansion of private fuel retailers like Nayara Energy and Reliance Industries, state-run oil marketing companies (OMCs) are set to more than double their retail outlets in the next three years. This is likely to see an investment of about Rs 80,000-90,000 crore in the sector.

The government has asked Hindustan Petroleum Corp Ltd (HPCL) to add ONGC as its co-promoter but the oil refining company has sought further clarifications before adhering to the direction, a top company official said.

Shares of Indraprastha Gas (IGL) were up 3 per cent to Rs 301 apiece on BSE in the early morning trade on the expectation of healthy performance during the quarter. The state-owned company is scheduled to announce its October-December 2018 quarter (Q3FY19) results on Wednesday, February 6, 2019.

Norway has built a reputation as one of the calmest and most predictable corners of the global oil industry, but lately it’s been full of surprises.

In a yet another turn to the insolvent Essar Steel Ltd (ESL) case, one of its operational creditors (OCs), Bharat Petroleum Corporation Limited (BPCL), on Monday sought the steelmaker’s liquidation at the National Company Law Tribunal (NCLT)’s Ahmedabad bench.

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.

Oil prices rose about 3 per cent on Friday, rising on upbeat US jobs data and signs that US sanctions on Venezuelan exports have helped tighten supply, then extending gains after weekly data showed US drillers cut the number of oil rigs.

In Interim Budget 2019, Finance Minister Piyush Goyal has projected the government’s outgo on petroleum subsidies during the financial year to be Rs 37,478 crore, compared with the Rs 24,932.80 crore estimated in last Union Budget. The estimates for 2018-19 were marginally lowered in the revised estimates for the year to Rs 24,833.18 crore. when […]

Qatar Petroleum and Exxon Mobil Corp are expected to announce plans next week to proceed with a $10 billion project that will expand a liquefied natural gas (LNG) export facility in Texas, three people familiar with the transaction said.

Eight core sectors grew at their slowest pace in 18 months at 2.6 per cent in December 2018 due to fall in output of crude oil, refinery products and fertilisers, official data showed Thursday.