State run Indian Oil Corporation Ltd (IOC) on Monday inked pacts with Gujarat government for implementing projects totaling around ₹ 24,000 crore in the western state. “IndianOil’s Gujarat Refinery will be implementing India’s first Hydrogen Dispensing Facility as a clean fuel initiative,” the state-run firm said in a statement. This comes in the backdrop of […]
Category: Oil & Gas
Indian Oil signs up to invest ₹24,000cr in Gujarat refinery expansion, petchem project
NEW DELHI : State-owned Indian Oil Corporation (IOC) on Monday said it has signed up an investment pact for adding petrochemical and lube plants to its previously announced plan to expand crude oil processing capacity at its Koyali refinery at Vadodara in Gujarat. Expanding refining capacity by 4.3 million tonnes per annum to 18 million […]
With volume growth concerns behind, GSPL’s outlook improves
NEW DELHI : The March-quarter performance of Gujarat State Petronet Ltd (GSPL) was subdued with declining gas sales volumes. A rise in spot gas prices in January and February weighed on gas volumes. The company’s Q4 transmission volume at 33.84 mmscmd (million metric standard cubic metres per day) declined 8% year-on-year (y-o-y) and 14% sequentially. […]
Petrol, diesel prices hiked again. Check latest rates in your city
Petrol and diesel prices in India were hiked for the second consecutive day on June 7 by 27-28 paise per litre, according to oil marketing companies (OMCs). Petrol price in Delhi crossed ₹95-per-litre mark on Monday. In Delhi, petrol is priced at ₹95.37 a litre, while diesel costs ₹86.28. The price of petrol in Mumbai […]
WTI Oil tops $70 for first time since 2018 as market tightens
Oil in New York topped $70 a barrel for the first time since October 2018 as upbeat comments on the market from major trader Vitol Group added to optimism over the global demand recovery. Futures rose as much as 0.6% after posting a second weekly gain, while global Brent traded above $72 a barrel. OPEC+ […]
Petrol above ₹95 a litre in Delhi, ₹100 in five states
Petrol price on Sunday crossed ₹95 a litre in Delhi and diesel breached ₹86 per litre mark for the first time ever as fuel prices were hiked again. Petrol price was increased by 21 paise per litre and diesel 20 paise a litre, according to a price notification of state-owned fuel retailers. The hike—20th since […]
Petrol, diesel prices cross ₹100-mark in these states after today’s hike. New rates
The prices of petrol and diesel were hiked again on Sunday. With the latest hike, petrol is now being sold at ₹95.03 per litre and diesel at ₹85.95 a litre in Delhi. On Saturday, the the petrol was available at ₹94.76 per litre and diesel at ₹85.66 per litre in the national capital. In Mumbai, […]
IOC to spend ₹28,500 crore in FY22 to expand operations
Mumbai: Indian Oil Corporation Ltd (IOCL) will spend ₹28,500 crore this fiscal in expanding its operations, against ₹27,000 crores it spent last FY, said two officials from the company. Of this, IOCL will spend around ₹5,000 crore on refineries, ₹5,000 crore on pipelines, ₹1,600 crore on marketing, ₹2,580 crore on petrochemicals, ₹1,500 crore on city […]
Petrol at ₹100: After Mumbai, fuel prices breach record in these states
After a hike for the second time this month, petrol prices crossed the record ₹100-mark in Leh, almost all districts of Andhra Pradesh and parts of Telangana on Friday. According to a price notification by state-owned fuel retailers, petrol got costlier by 27 paise per litre and diesel by 28 paise per litre. The hike […]
Oil firms to sell up to 20% ethanol blended petrol from 1 April 2023
New Delhi: In what may add heft to India’ green energy credentials, the union government will direct oil companies to sell up to 20% ethanol blended petrol from 1 April 2023. The government has been pushing for ethanol production with surplus sugar production depressing sugar prices and consequently increasing the dues of sugarcane farmers. This […]
Petrol, diesel prices hiked today, rates at new high. Check what it costs in your city
Fuel prices were hiked again on Friday after a two days pause, taking the rates to a fresh record high. Petrol price was increased by up to 27 paise per litre and diesel by 28 paise across metros, as per the Indian Oil Corporation (IOC) data. In Delhi, a litre of petrol will cost ₹94.76 […]
Saudis increase oil prices for Asia customers as market tightens
Saudi Arabia increased oil prices for customers in its main market of Asia by more than expected after crude surged above $70 a barrel and OPEC forecast that global demand would heavily outstrip supply over the rest of the year. State energy firm Saudi Aramco hiked its key Arab Light grade for July shipments to […]