Category: Oil & Gas

Sanjay Varma has taken charge as managing director (additional charge) of Mangalore Refinery and Petrochemicals Limited (MRPL) here following an order issued by the Ministry of Petroleum and Natural Gas. Varma has been on the board of MRPL as director (refinery) since June 2020 and has had extensive exposure by being on the boards of […]

India’s largest gas firm GAIL has infused Rs 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals Ltd that it had acquired in bankruptcy proceedings. The firm had in March won bankruptcy court approval for taking over JBF. In a stock exchange filing, GAIL (India) Ltd said it has “infused Rs 2,101 crore (equity – […]

A drone crashed into the Ilsky oil refinery in southern Russia’s Krasnodar region on Wednesday, causing no casualties or damage to infrastructure, Russian state-owned news agency RIA reported, citing local officials. Russian officials have previously reported drone strikes on the Ilsky refinery, which is located across the Azov Sea from Ukraine. On Tuesday, Russia blamed […]

Oil prices rose on Tuesday as the expectations the debt ceiling deal in US, the world’s biggest oil user, will spur more demand but fears of further interest rate rises and that OPEC+ will leave output quotas unchanged capped gains. Brent crude futures climbed 35 cents, or 0.5 per cent, to $77.42 a barrel by […]

India’s top oil and gas producer ONGC will invest Rs 1 lakh crore by 2030 on energy transition projects as it targets net zero carbon emissions by 2038, its chairman Arun Kumar Singh said on Monday. The firm joins fellow state-owned oil and gas firms Indian Oil (IOC), Hindustan Petroleum (HPCL), GAIL and Bharat Petroleum […]

India’s top oil and gas producer ONGC posted a surprise loss in the March quarter after it made over Rs 12,100 crore provision for a contested tax liability. Oil and Natural Gas Corporation (ONGC) reported a net loss of Rs 247.70 crore in the January-March quarter as compared to a net profit of Rs 8,859.54 […]

Shares of Reliance Industries jumped nearly 3 per cent on Friday, adding Rs 45,887.8 crore to its market valuation and helping equity benchmark indices end the day with sharp gains. The stock of the country’s most valued firm by market capitalisation (mcap) climbed 2.79 per cent to settle at Rs 2,506.55 on the BSE. During […]

As much as $300 million (about Rs 2,500 crore) of dividend income belonging to Indian oil firms is stuck in Russia due to tough Western sanctions following Moscow’s invasion of Ukraine, a top official said on Thursday. Indian state oil firms have invested $5.46 billion in buying stakes in four different assets in Russia. These […]

Oil prices were little changed on Thursday as uncertainty over whether the United States will avoid a debt default weighed against the prospect of further OPEC+ production cuts. Brent crude futures eased 1 cent to $78.35 a barrel by 04290 GMT. US West Texas Intermediate crude (WTI) fell 11 cents, or 0.2 per cent, to […]

Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said on Tuesday he would keep short sellers “ouching” and told them to “watch out”, days before a planned OPEC+ meeting to decide on future oil policy. “Speculators, like in any market they are there to stay, I keep advising them that they will be ouching, they […]

Tata Motors on Monday launched the CNG version of its premium hatchback Altroz at an introductory price of Rs 7.55 lakh (ex-showroom all-India). The Altroz iCNG comes in six variants priced between Rs 7.55 lakh and Rs 10.55 lakh (all prices ex-showroom all-India), Tata Motors said in a statement. It is equipped with a twin-cylinder […]

Oil prices continued to climb on Tuesday with investors expecting a tighter market led by a seasonal rise in gasoline demand and supply cuts from OPEC+ producers, though concerns over the risk of a US debt default capped gains. Brent crude futures rose 28 cents, or 0.37 per cent, to $76.27 a barrel by 0320 […]