Category: Oil & Gas

NEW DELHI : Shares of state-owned Oil and Natural Gas Corp (ONGC) declined nearly 4% on Wednesday after the company reported its first-ever quarterly loss. On the BSE, the stock dipped 3.93% to Rs78.20. It declined 3.74% to Rs78.30 on the NSE. India’s top oil and gas producer ONGC on Tuesday reported a Rs3,098 crore […]

Oil and Natural Gas Corporation (ONGC) share has so far fallen about 38% from its highs in January. As it turns out, the company’s March quarter results announced on Wednesday evening don’t inspire much confidence. True, revenues at ₹21456 crore, representing 20% year-on-year decline, were slightly ahead of Street estimates but net crude oil price […]

It is a pity that opposition voices have arisen asking for tax reductions that could destroy the only major source of government revenues during a year in which covid-19 has devastated the Indian economy, which is probably in a full-blown recession at this juncture. Complaints have been raised against the currently high levies on petrol […]

State-owned Oil and Natural Gas Corp (ONGC) on Tuesday reported its first-ever quarterly loss after it took an impairment on the slump in oil and gas prices. India’s top oil and gas producer reported a ₹3,098 crore loss in the January-March quarter as compared to a profit of ₹4,240 crore in the same period a […]

A day after diesel price scaled a new high, no change in the price of petrol or diesel was reported in the Delhi on Tuesday. Oil marketing companies Monday hiked the price of petrol prices by 5 paise a litre to ₹80.43 and that of diesel increased to ₹80.53 (hike of Re 0.13) in Delhi. […]

Oil prices fell in early trade on Tuesday after weak Japanese industrial production data, not usually a market-moving factor, was enough to jangle trader nerves over a bumpy recovery in fuel demand as coronavirus pandemic restrictions ease. U.S. West Texas Intermediate (WTI) crude futures briefly traded higher then fell 38 cents, or 1%, to $39.32 […]

New Delhi: The government should stop “profiteering” from petrol and diesel, and immediately roll back price hikes as well as the excise duty imposed on the fuels, Congress leader Rahul Gandhi said on Monday. The former party president also said that prices of petrol and diesel are constantly increasing in the country when global crude […]

MUMBAI : Country’s largest oil refiner and marketer Indian Oil Corporation Ltd (IOCL) will invest ₹26,000 crore as part of its capital expenditure plan this fiscal even as it reported a loss of ₹17,318 crore for the March quarter (Q4) of fiscal 2019-20 on the back of inventory losses and low fuel demand. IOCL’s inventory […]

Authorities in Kashmir have dismissed alarmist rumours about an order asking oil marketing companies to stock up two months’ supply of LPG cylinders in the Valley. Department of Food, Supplies and Consumer Affairs said that they had done enough stock building to last two months in the area as they dismissed earlier reports. “There were […]

Petrol and diesel prices went up every day since 7 June. In Delhi, the price of petrol was hiked by ₹9.12 per litre between 7 June and 26 June, while that of diesel has gone up by ₹11.01 per litre. Other cities have seen a price rise as well. Why is this the case? Mint […]

NEW DELHI : With diesel price being on a record high in Delhi and petrol on a two-year high, the opposition Congress has planned a nationwide protest tomorrow to protest against the fuel price hike. Since the daily price revision resumed on June 7, petrol price has increased ₹9.12 and diesel rose by ₹11.01 a […]

India’s biggest oil firm has taken a small but substantial step in the direction of a pollution-free world. Indian Oil, on Friday, announced that they will soon start setting up battery-swapping stations at their petrol pumps. These swapping stations will be used to provide instant recharge for EVs. The new plan has been executed in […]