Shares of Reliance Industries Limited (RIL) continued its rally for the seventh consecutive day on Thursday with the stock surging around 15% in the seven trading sessions amid optimism about its future performance. The company’s market valuation crossed the ₹14 lakh crore mark in early trade. The stock has been on the gaining mode after […]
Category: Oil & Gas
Reliance Industries chairman Mukesh Ambani draws nil salary
New Delhi: Reliance Industries chairman Mukesh Ambani drew no salary from his flagship firm RIL in the fiscal year ended March 31. In light of the Covid-19 pandemic hitting the business and the economy, he had voluntarily given up remuneration. In its latest annual report, Reliance said Ambani’s remuneration for the financial year 2020-21 was […]
Reliance BP Mobility sets up 24 battery swap stations, to expand further
Reflecting on its net carbon zero target, Reliance BP Mobility Ltd, a joint venture between Reliance Industries Ltd (RIL) and UK’s energy major BP Plc, has initiated infrastructure development at all supply locations and started pilot testing of battery swap stations at over 24 select locations, the company said in its annual report. “Initial response […]
Saudi Arabia increase oil prices for India, other Asian countries
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 […]
India brings forward by two years 20% ethanol blend to gasoline
India’s government will bring forward to 2023 from 2025 the possibility of fuel companies selling gasoline containing up to 20% of ethanol (E20), according to brokers and a publication in the country’s official gazette on Wednesday. It is the second time India’s government anticipates sales of the E20 fuel, which originally would happen only in […]
Gujarat Gas’s strong Q4 drives hopes despite second wave hit
Astronger-than-expected March quarter performance helped Gujarat Gas Ltd shares gain over 5% on Wednesday. Firm industrial gas demand from the Morbi cluster in Gujarat and rising compressed natural gas (CNG) volumes helped its sales volumes. The average sales volume for the quarter rose 22 % year-on-year to 12.13 mmscmd (million metric standard cubic metres per […]
Mukesh Ambani says Reliance now has strong balance sheet to support growth
NEW DELHI : After record fundraising, Reliance Industries Ltd now has a strong balance sheet with high liquidity that will support growth plans for its three hyper-growth engines, Jio, Retail and Oil-to-Chemicals, according to the firm’s chairman and managing director Mukesh Ambani. In the company’s latest annual report released on Wednesday, he said the company […]
Petrol, diesel prices stay at record highs. Find out what it costs in Mumbai, Delhi, other cities
After witnessing a continuous rise in the last few days, petrol and diesel prices were unchanged on Wednesday as the oil marketing companies decided to keep rates on pause. In Delhi, a litre of petrol will cost ₹94.49 and a litre of diesel will cost ₹85.38. In Mumbai, the petrol price remained at ₹100.72 per […]
Oil prices hit highest level in over two years
U.S. crude futures hit their highest level in more than two years after the OPEC+ alliance forecast a tightening global market ahead of a production policy meeting. West Texas Intermediate rose as much as 2.6% from Friday’s close to $68.04 a barrel. Global benchmark Brent topped $70 earlier Tuesday. The oil glut built up during […]
Oil price hits two-year high as OPEC sees more demand
The price of oil was on course Tuesday to close above $70 a barrel for the first time in two years on investors’ optimism that improving oil demand and a dwindling supply glut may mean the market can absorb any additional supply from OPEC and its allies. Brent crude, the international energy benchmark, rose 2.6% […]
Petrol, diesel prices hiked again today. Check rates in your city
The prices of petrol and diesel were hiked again in Delhi on Tuesday by 26 paise and 25 paise respectively, according to the Indian Oil Corporation, the country’s largest fuel retailer. Fuel prices were hiked by 16 times in May. In the national capital, a litre of petrol will cost ₹94.49 and a litre of […]
OPEC+ set to sign off on July increase as market tightens
OPEC+ looked set to increase production in July as expected, as ministers prepare to tackle the thornier issue of how to handle a tightening oil market for the rest of the year. The group’s Joint Ministerial Monitoring Committee recommended pushing ahead with the planned ramp-up in July, when OPEC+ stands to add 841,000 barrels a […]