Category: Oil & Gas

The Department of Investment and Public Asset Management (Dipam) has started the sale process of Bharat Petroleum Corp Ltd (BPCL) more than a month before the Cabinet decision last Wednesday to sell the entire government stake in the oil major. In the run-up to the decision, the Dipam had on October 11 issued advertisements seeking […]

Kochi: The Union government’s decision to divest its entire stake in Bharat Petroleum Corporation Limited (BPCL) has created apprehensions over the fate of the nearly Rs 16,500-crore projects for import substitution petrochemical products, having huge potential for manufacturing a slew of downstream products, by Kochi Refinery coming under the PSU. The petrochemical products from the […]

New Delhi: A day after the Centre announced its plans to divest its majority stake in BPCL, Oil Minister Dharmendra Pradhan on Thurs-day reiterated his earlier statement that the government has no business to be in business, hinting that other public sector oil companies, including Indian Oil Corporation, may not be allowed to bid for […]

New Delhi: Govt has agreed to sell stakes in five state-run companies, including oil refiner Bharat Petroleum Corp (BPCL), finance minister Nirmala Sitharaman said on Wednesday, a move that could help bridge a widening fiscal gap. Prime Minister Narendra Modi’s government has also approved the sale of holdings in logistics firm Container Corp of India […]

Dubai: Saudi Aramco is worth up to USD 1.7 trillion at the price range set by the oil giant on Sunday, below the USD 2 trillion sought by Saudi’s crown prince but putting it in the running to become the world’s biggest IPO. Aramco cannot sell its shares directly to investors in the United States […]

Tokyo: Oil prices gained on Friday after OPEC’s forecast for oil demand next year fueled hopes that the producer group and allies will maintain supply cuts when they meet to discuss policy on output next month. Optimism that the United States and China may soon sign an agreement to end their trade war helped support […]

Saudi Arabia: Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdom seeks to diversify its economy away from oil. But in its long-awaited announcement, Aramco, the world’s most profitable […]

New Delhi: With slump in refinery margins as well inventory losses, state-owned Indian Oil Corp (IOC) on Thursday posted a 83 per cent dip in net profits on a year-on-year basis in the second quarter. The net profit for July-September has been reported at Rs 564 crore against Rs 3,247 crore in the same period […]

New Delhi: In a landmark oil sector reform, the government on Wednesday relaxed rules for setting up petrol pumps and allowed non-oil companies to venture into the business in the world’s fastest-growing fuel retailing market. The relaxed rules, which includes a far lower investment threshold for entering fuel retailing, is expected to help private and […]

New Delhi: In the biggest reform in fuel retailing sector in almost two decades, the government on Wednesday relaxed norms for setting up petrol pumps, allowing non-oil companies to venture into the business – a move that could help private and foreign firms to enter the world’s fastest-growing market. At present, to obtain a fuel […]

New Delhi: Shares of BPCL fell over 3 per cent on Monday after the government repealed the legislation that had nationalised the company. On the BSE, the stock declined 3.53 per cent to Rs 497. The shares of the PSU fell 3.21 per cent to Rs 499 on the NSE. Ahead of a proposed move […]

THANJAVUR: In a bid to assuage the hurt feelings of the Cauvery delta farmers who do not want any oil or natural gas exploration to take place in the state’s granary and who want the entire delta to be declared a ‘protected agricultural zone’, the public sector Oil and Natural Gas Corporation (ONGC) has come […]