Indian energy demand is taking a big hit as Covid-19 runs rampant across the country. But uncertainty around when the virus wave will subside and the lack of a unified government response has left the oil industry in the dark as to how quickly consumption might pick up again. The demand destruction over the last […]
Category: Oil & Gas
No intention of selling a stake in IGL or Petronet LNG: BPCL
MUMBAI : State-run Bharat Petroleum Corporation Ltd (BPCL), which is bound for privatization, has no intention to sell its stakes in either Indraprastha Gas (IGL) or Petronet LNG Ltd (PLL), a company official said on Thursday. BPCL holds a 12.5% share in liquefied natural gas importer PLL, and a 22.5% stake in Delhi-based city gas […]
Post dividend payout, progress on privatization key for BPCL
NEW DELHI : Bharat Petroleum Corp. Ltd’s (BPCL) shares scaled to a new 52-week high on the National Stock Exchange on Thursday. A handsome dividend payout and strong March quarter performance are the reasons for investor optimism. BPCL has announced a dividend of ₹58 per share. This is in addition to the ₹21 per share […]
Petrol prices hiked today, near ₹100 in Mumbai. Check rates in other cities
After a day’s hiatus, the prices of petrol and diesel were hiked on Thursday. Petrol rate in Mumbai neared ₹100 a litre after fuel prices were raised again. Petrol prices have been increased by around 23 paise and diesel by around 30 paise, according to state-run fuel retailer Indian Oil Corporation (IOC) data. In Delhi, […]
India oil industry struggles to predict when demand will recover
Indian energy demand is taking a big hit as Covid-19 runs rampant across the country. But uncertainty around when the virus wave will subside and the lack of a unified government response has left the oil industry in the dark as to how quickly consumption might pick up again. The demand destruction over the last […]
Oil slips below $66 as investors assess Iran supply prospects
Oil dipped below $66 a barrel in New York as investors assessed prospects for more crude supply flowing from Iran. West Texas Intermediate futures dropped 0.7%, reversing an earlier gain. Crude has fluctuated as traders weigh the likelihood of an Iranian deal against signs of buoyant demand. Meanwhile, an industry report showed a decline in […]
Energy Funds help investors ride the oil price rebound
MUMBAI: A rebound in oil prices has pushed energy and natural resources funds towards the top of the mutual fund rankings. Oil prices have staged a comeback over the past year with WTI crude moving from 34 dollars per barrel to about 66 dollars per barrel. In April 2020, when the first lockdowns went into […]
Despite low Q1 volumes, shares of MGL ride on firm margin outlook
Mahanagar Gas Ltd (MGL) continued reaping the benefits of rebounding gas demand and improved gas realizations in the March quarter. Total gas volumes at 2.89 mmscmd (million metric standard cubic metres per day) and rise 4% sequentially and year-on-year (y-o-y). The higher realizations for compressed natural gas (CNG) and piped natural gas (PNG) helped boost […]
Shell ordered by Dutch court to cut carbon emissions
A Dutch court on Wednesday ruled that Royal Dutch Shell PLC is partially responsible for climate change and ordered the company to reduce its carbon emissions, a first-of-its-kind ruling that adds fresh pressure on oil-and-gas companies already facing heightened scrutiny from governments and investors. The ruling, issued by the district court in The Hague, ruled […]
Govt to rake in over Rs6665.76 crore in dividend income from BPCL
MUMBAI: The Union government which holds a 52.98% stake in state-run Bharat Petroleum Corporation Ltd (BPCL) will receive Rs6,665.76 crore in from the company which announced a dividend of Rs58 per equity share, including a one-time special dividend of ₹35 per equity share of ₹10 each, for the financial year ended March 31, 2021. The […]
BPCL posts four-fold rise in net profit, announces Rs58 final dividend
State-run Bharat Petroleum Corporation Ltd (BPCL) on Wednesday posted an over four times jump in its January-March net profit at ₹11,940 crore against Rs. 2777 crore in the previous quarter. In the same quarter, a year-ago period, the company reported a net loss of 1361 crore. The Board of Directors has recommended a final dividend […]
BPCL Q4 net profit at ₹11,940 cr, co announces final dividend of ₹58/sh
Bharat Petroleum Corporation Ltd on Wednesday reported a net profit of ₹11,940 crore for the quarter ended March, 2021. The company had posted a net loss of ₹1,361 crore in the year-ago quarter. BPCL’s revenue from operations rose 21.5% on a year-on-year basis to ₹98,755.6 crore for the March quarter as against R 81,296 crore. […]