Category: Oil & Gas

Only 12 million cooking gas connections have been extended by city-gas distribution (CGD) entities so far, which is half of their total prorated commitments of 22 million connections, the Petroleum and Natural Gas Regulatory Board (PNGRB) has said. In an emailed response to Business Standard, PNGRB said that this is the reason for issuing letters […]

The government on Friday raised windfall tax on petroleum crude to Rs 4,900 a tonne from Rs 4,600. The new rates will be affective from Saturday, according to a government notification released on Friday. The tax is levied in the form of a Special Additional Excise Duty (SAED). The SAED on the export of diesel, […]

In a relief to people ahead of the Lok Sabha polls expected to be held in April-May, the government has decided to cut the price of petrol and diesel by Rs 2 per litre. The Ministry of Petroleum and Natural Gas said in a post on X that Oil Marketing Companies (OMCs) have informed that […]

Larsen & Toubro (L&T) on Thursday said its hydrocarbon business has won an order for a major onshore gas pipeline project from a client in West Asia. The company categorised the order as ‘major’, implying a value of between Rs 5,000 crore and Rs 10,000 crore. L&T does not disclose the exact value of its […]

The Rajasthan government on Thursday announced a 2 per cent reduction in VAT on petrol and diesel and a 4 per cent hike in dearness allowance of employees and pensioners ahead of the general elections. The decisions will become effective from Friday morning. The government announced a 4 percentage point hike in dearness allowance of […]

Oil marketing companies (OMC) have reduced pump prices of petrol and diesel after a record 22 months, both of which will be cheaper by Rs 2 in the national capital beginning Friday, the government announced on Thursday. Taking Delhi as an example, petrol and diesel prices last saw a revision back on April 6, 2022, […]

State-run Bharat Petroleum Corporation Limited (BPCL) on Wednesday signed a tripartite Memorandum of Understanding (MoU) with Chhattisgarh Biofuel Development Authority (CBDA) and the state municipal corporations of Raipur and Bhilai for the production of compressed biogas (CBG). BPCL will set up CBG plants in the state capital Raipur and the industrial town of Bhilai. About […]

Oil & Natural Gas Corpn Ltd is quoting at Rs 259.9, down 3.88% on the day as on 13:19 IST on the NSE. The stock jumped 69.54% in last one year as compared to a 29.63% rally in NIFTY and a 70.02% spurt in the Nifty Energy index. Oil & Natural Gas Corpn Ltd is […]

An MoU was signed on Wednesday between BPCL, Chhattisgarh Biofuel Development Authority and municipal corporations of Raipur and Bhilai for production of Compressed Bio Gas (CBG) in Chhattisgarh, officials said. As per the pact, BPCL- a central PSU, will set up CBG plants in Raipur and Bhilai with an investment of around Rs 100 crore […]

A $2 billion offer by Abu Dhabi’s national oil company and BP to buy a 50% stake in Israeli gas producer NewMed has been put on hold due to uncertainty in the region, NewMed said on Wednesday. NewMed said all parties had agreed to pause negotiations, although Abu Dhabi National Oil Co (ADNOC) and BP […]

U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday. In December, U.S. crude oil production hit a new monthly record high of over 13.3 million bpd, the […]

Indraprastha Gas Ltd has lost 0.6% over last one month compared to 1.5% gain in S&P BSE Oil&Gas index and 2.72% rise in the SENSEX Indraprastha Gas Ltd gained 3.25% today to trade at Rs 437.3. The S&P BSE Oil&Gas index is up 0.71% to quote at 28452.51. The index is up 1.5 % over […]