India’s net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil […]
Category: The Economic Times
Economictimes
IOC to invest Rs 5,215 cr to build 1GW renewable energy capacity
New Delhi: Indian Oil Corp, the nation’s top refiner and fossil fuel retailer, plans to invest Rs 5,215 crore to build 1 gigawatt (GW) of renewable energy capacity in the country. Indian Oil’s board has approved the investment plan, which would involve setting up “standalone ground-mounted solar or standalone onshore wind or wind-solar hybrid projects” […]
India buys more Russian, less Saudi oil in April
India in April imported more Russian oil but less from Iraq and Saudi Arabia than it did a month earlier, preliminary data from trade flow tracking agencies Kpler and LSEG shows. Refiners in India have been snapping up Russian oil since Moscow’s invasion of Ukraine in February 2022 prompted the West to shun it and […]
BP appoints Kartikeya Dube as India unit chief
New Delhi: BP has appointed Kartikeya Dube as its India unit chief, the energy major said in a statement on Tuesday. Dube’s appointment will be effective from July 1. He will take over from Sashi Mukundan who will retire from BP after serving the company for over 42 years.
India revises windfall tax to Rs 8,400 per tonne, effective May 1
The centre Tuesday revised Windfall tax on domestically produced crude oil to Rs 8,400 per tonne, down from Rs 9,600 per tonne. The export duty on petrol diesel and aviation turbine fuel (ATF) will continue to be nil.
Prices of commercial LPG cylinders slashed by Rs 19
Government oil marketing companies on Wednesday slashed prices of commercial LPG gas cylinders by Rs 19 with immediate effect. The retail sales price of a 19 kg commercial LPG cylinder would be now Rs 1745.50 in Delhi, reported ANI, citing sources. Last month, the price was cut by Rs 30.50 for a 19-kg commercial cylinder […]
SC dismisses L&T plea over Sharavathi tendering process
The Supreme Court on Monday rejected Infrastructure Company Larsen & Toubro’s Special Leave Petition (SLP) challenging the tendering process for the prestigious Sharavathi Pumped Storage project. “We are not inclined to entertain the Special Leave Petition under Article 136 of the Constitution of India,” the top court said.
Sterlite Power bags projects worth Rs 2,500 crore in Q4
Sterlite Power on Tuesday announced securing new orders worth Rs 2,500 crore during the quarter ended March 31. This takes the company’s cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement. “Sterlite Power has capped off a successful fiscal year FY24 […]
Oil dips as investors eye Israel-Gaza truce talks, US Fed policy review
Oil edged down in early trade on Tuesday after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanded conflict in the Middle East, while worries about the outlook for U.S. interest rates weighed on the market. Brent crude futures dipped 5 cents, or 0.06%, to $88.35 a barrel at 0006 GMT, and […]
GAIL rises 0.81% as Sensex climbs
Shares of GAIL (India) Ltd. traded at Rs 209.75 on BSE at 11:31AM (IST) on Monday, up 0.81 per cent from previous close. The scrip quoted a 52-week low price of Rs 102.95 and a high of Rs 213.7.
Share price of Tata Power jumps as Sensex gains 598.26 points
The share price of Tata Power Company Ltd. gained 2.24 per cent to Rs 446.55 at 11:52AM (IST) in Monday’s trade. The counter has hit a high of Rs 447.65 and low of Rs 437.3 so far during the session. The stock had closed at Rs 436.75 in the previous session. The counter has had […]
Adani Power shares gain 0.05% as Sensex rises
Shares of Adani Power Ltd. traded 0.05 per cent higher in Monday’s session at 12:22PM (IST). The stock opened at Rs 599.9 and has touched an intraday high and low of Rs 599.95 and Rs 591.7, respectively, during the session so far. The stock quoted a 52-week high of Rs 647.0 and a 52-week low […]