Adani Total Gas (ATGL) has posted a 71.5% rise in net profit at Rs 167.96 crore for the quarter ended March, compared with Rs 97.91 crore posted during the year-ago quarter. The Adani group’s city gas distribution (CGD) company’s revenue from operations rose 5.1% to Rs 1,258.37 crore. The firm’s EBITDA for the reporting quarter […]
Category: Oil & Gas
Indian Oil Corporation Q4 results: Net profit down 52% on year; declares dividend of Rs 7/share; Here are all other details
Indian Oil Corporation in Q4 of FY24 reported a fall of 52% on year in its net profit standing at Rs 4,837.69 crore Vs Rs 10,058.69 crore it posted in the same period a year ago. The oil marketing major’s revenue from operations stood at Rs 2.20 lakh crore for the quarter ending March of […]
Regulator plans new tariff policy for petroleum product pipelines
After coming out with unified tariff for natural gas pipelines, the Petroleum and Natural Gas Regulatory Board is now seeking to revise the tariff policy for the product pipelines laid out by the state-owned oil marketing companies and private refiners, a member of the regulatory board, who did not wish to be identified told FE. […]
Reliance Q4 Results: Profit drops by 1.8% YoY at Rs 18,951 crore, revenue up 11.3%, dividend announced
RIL Q4 Results Today: Reliance Industries on Monday posted its fourth quarter earnings for the financial year 2023-24 with consolidated profit at Rs 18,951 crore, down 1.8 per cent in comparison to Rs 19,299 crore during the fourth quarter of FY23. It posted revenue from operations at Rs 240,715 crore, up 11.3 per cent as […]
LNG import volume up 17.5% in FY24 as consumption rises
Even as the import volume reported such increase, the country’s gas import bill fell significantly by 22% to $13.3 billion in FY24 from $17.1 billion in FY23, as prices fell. While the fertilizer sector contributed to 32% of the total consumption, CGD entities accounted for 19% of the total natural gas consumption, followed by the […]
Gas utilities to register strong Q4FY24 on healthy volumes, lower cost
India’s gas utilities and city gas distribution companies are expected to end the financial year 2023-24 with healthy growth primarily on the back of lower costs of gas and stronger volumes, as per analysts. “Lower gas costs, stronger volumes, offset by Rs 4-12 per kg price cut taken in CNG (compressed natural gas) by Indraprastha […]
Upstream companies’ profitability ma take a hit on high windfall oil tax
The recent hike in the windfall tax by the government is likely to impact the profitability of the Indian upstream companies and their cash accruals but will keep their realisations healthy, well in the range of $70-75 per barrel, as per analysts. “I think the govt has maintained their (upstream companies’) realisations and have not […]
GAIL to commission its first green hydrogen project in April, sources say
State-run natural gas company GAIL (India) Ltd plans to commission its first green hydrogen project in central India in April, three company sources said. The 10-megawatt proton exchange membrane electrolyser for the green-hydrogen producing unit at the Vijaipur complex in Madhya Pradesh state has been imported from Canada, they added. “Once the initial hiccups are […]
Govt allows UAE’s Adnoc to export oil from Indian strategic storage
The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm, an order of the Ministry of Commerce and Industry said on Saturday. At present, crude oil, which is the raw material for producing fuels […]
Brent Crude surges past $86 amidst ukraine attacks on Russian infrastructure
On Monday, Brent Crude momentarily surged past $86 per barrel, marking its highest point since November, before retreating slightly. This uptick came amidst intensified attacks by Ukraine on Russian energy infrastructure. Brent crude oil futures for May delivery rose by 51 cents to reach $85.85 per barrel at 1333 GMT. Meanwhile, the April contract for […]
Kerosene consumption falls sharply by 26 per cent CAGR during FY14-23: Govt data
Kerosene consumption in the country has declined sharply by 26 per cent CAGR between 2013-14 and 2022-23, mainly due to government policies to promote clean energy. The latest ‘Energy Statistics India 2024’ of the National Statistical Office (NSO) stated, “The impact of energy policies of recent time is evident on the consumption of kerosene as […]
Crude oil extends fall as China’s pledge to transform economy fails to impress
Oil prices fell for a second day on Tuesday as pledges by China, the world’s biggest crude importer, to transform its economy amid stuttering growth since the COVID pandemic failed to impress investors concerned about slower consumption. Brent futures for May fell 3 cents to $82.77 a barrel by 0159 GMT, while U.S. West Texas […]