NEW DELHI: After reporting a lower-than-expected Q1FY2023 results, shareholders have given a major thumbs down to shares of Mukesh Ambani’s Reliance Industries (RIL). The stock of the country’s most valuable firm plummeted over 3% on Monday to close at Rs 2,417 even as many brokerages maintain a ‘buy’ status on the stock. They, however, expect […]
Category: Oil & Gas
Reliance expects gas price to rise in October, wants removal of ceiling prices
NEW DELHI: Reliance Industries Ltd expects prices of natural gas in India to rise again in October but wants government-dictated caps to go, in a bid to align domestic rates with global energy prices. The conglomerate, controlled by billionaire Mukesh Ambani, expects the price cap for its KG-D6 gas sales to rise over the current […]
Call on Rs 300 crore ethanol plant soon: Andhra Pradesh Industrial Infrastructure Corporation
VIJAYAWADA: AP Industrial Infrastructure Corporation (APIIC) Chairman Mettu Govinda Reddy has promised to take a decision on giving necessary approvals for Assago Industries to set up an ethanol plant at Rajahmundry. Assago has already announced to invest Rs 300 crore on the plant.
NGT imposes Rs 5 crore interim fine on TANGEDCO over roads in Ennore wetlands near Chennai
CHENNAI: The National Green Tribunal (NGT) has slapped an interim environmental compensation of Rs 5 crore on TANGEDCO for building “unauthorised” roads in Ennore wetlands.
Expert panel to investigate ‘gas leak’ in Chennai’s Tiruvottiyur
CHENNAI: A five-member technical committee formed by the State government on Thursday will investigate the source of pungent odour similar to that of LPG gas in Tiruvottiyur and Manali.
Russia restarts key gas pipeline Nord Stream 1, shut for maintenance to Europe
BERLIN: Natural gas started flowing through a major pipeline from Russia to Europe on Thursday after a 10-day shutdown for maintenance, the operator said. But the gas flow was expected to fall well short of full capacity. The Nord Stream 1 pipeline to Germany had been closed since July 11 for annual maintenance work. Amid […]
Reliance Industries shares climb over 4 per cent; ONGC jumps 7 per cent after windfall tax cut
NEW DELHI: Shares of firms related to oil exploration and refineries were in heavy demand on Wednesday, with Reliance Industries and ONGC rallying after the government slashed windfall tax on petrol, diesel, jet fuel and crude oil. Reliance Industries shares jumped 4.25 per cent to Rs 2,545.05 on the BSE. Oil and Natural Gas Corporation […]
Russian President Putin warns West of further cut-in oil flow, price rice as consequences of sanctions
MOSCOW: Russian President Vladimir Putin said Tuesday it is the West’s own fault that the flow of Russian natural gas to European customers has dwindled and warned that it could continue ebbing. Putin’s statement further cranked up the pressure on the European Union, which fears Russia could cut off gas to wreak economic and political […]
Sanction effect: Russia defaults on five cargoes of LNG supplies to India
NEW DELHI: Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said.
Government cuts windfall tax on petrol, diesel, jet fuel, crude oil
NEW DELHI: The government on Wednesday scrapped a week-old tax on the export of petrol and cut windfall taxes on overseas shipments of diesel and ATF as well as the one imposed on domestically produced crude oil after global oil prices fell.
Germany again rejects Russian explanation for gas supply cut
BERLIN: The German government said on Monday that a turbine at the centre of uncertainty about future gas deliveries through a major pipeline from Russia to Europe was only supposed to be installed in September, underlining its insistence that there should be no technical obstacle to the gas flow.
Chennai: Triplicane Urban Co-Operative Society plans to sell five kg cylinders
CHENNAI: Small commercial LPG cylinders could soon be available at fair price shops run by Triplicane Urban Co-Operative Society (TUCS), the country’s first consumer cooperative.