Chief Minister Yogi Adityanath said on Friday that on the occasion of Holi in March, the state government would once again provide free cooking gas cylinders to the Ujjwala Yojana beneficiaries. For this, the beneficiaries of the Pradhan Mantri Ujjwala Yojana need to link their bank accounts with Aadhaar. On the occasion of Dhanteras, the […]
Category: Oil & Gas
ONGC Q2 net profit drops 20 per cent on lower oil prices, output
State-owned Oil and Natural Gas Corporation (ONGC) reported a 20 per cent drop in September quarter next profit on decline in oil prices and lower output. The company reported a net profit of Rs 10,216 crore in July-September (second quarter of current 2023-24 fiscal year), compared to Rs 12,826 crore earning in the same period […]
ONGC to start oil production from USD 5 bn deep-water project this month
State-controlled Oil and Natural Gas Corporation (ONGC) will kick off oil production from its much-delayed flagship deepsea project in Krishna Godavari basin in Bay of Bengal this month, helping reverse years of decline in output, a senior company official said. “We plan to start producing from the Cluster-2 project in KG-DWN-98/2 block this month and […]
HPCL to stop buying diesel from other companies next year
Hindustan Petroleum Corporation Ltd (HPCL) will stop buying diesel from companies like Reliance Industries Ltd and Nayara Energy once it completes expansion of its Visakhapatnam refinery in Andhra Pradesh and builds a new one in Rajasthan next financial year, company officials said. HPCL owns almost a quarter of petrol pumps in the country but does […]
Permit only CNG, electric, BS VI vehicles in city, Centre told
Delhi Environment Minister Gopal Rai on Saturday urged the Centre to permit only CNG, electric, and BS VI-compliant vehicles in Delhi-NCR to combat vehicular pollution. In a letter to Union Environment Minister Bhupender Yadav, he expressed concerns about the expected deterioration in air quality in the coming days due to Diwali and stubble burning in […]
Reliance returns to oil indexation for KG gas
Reliance Industries Ltd and its partner bp plc of UK have reverted to oil indexation for pricing the gas they produce from India’s largest private-sector operated field in KG basin as they look to tap into the upside from the buoyant oil market. Reliance and bp in a tender have sought bids from buyers for […]
IOC acquires Mercator Petroleum for Rs 148 crore
State-owned Indian Oil Corporation (IOC) has acquired Mercator Petroleum for about Rs 148 crore in an insolvency proceeding, according to regulatory filings by the company. “The resolution plan submitted by IOC for acquisition of 100 per cent stake in Mercator Petroleum Limited (MPL) has been approved by the National Company Law Tribunal, Mumbai Bench vide […]
Chhattisgarh polls: Priyanka Gandhi promises Rs 500 subsidy per gas cylinder, loan waiver for SHGs
Congress leader Priyanka Gandhi Vadra on Monday promised a slew of measures, including waiving of loans of Self-Help Groups, subsidised cooking gas cylinders under a new scheme, and free treatment to victims of road accidents if her party retains power in Chhattisgarh. Addressing a rally at Jalbandha in the Khairagarh Assembly segment, she also said […]
Sri Lankan Government renews Lanka IOC’s petroleum licence for 20 years
The Sri Lankan government has renewed the petroleum products licence granted to Lanka IOC, the local subsidiary of Indian Oil Corporation, for another 20 years, officials said on Monday. The licence originally issued in 2003 was to expire in January 2024. This will allow Lanka IOC to continue its retail operations on the debt-trapped island […]
IndianOil launches indigenous reference fuels
Petroleum Minister Hardeep S Puri marked the launch of “Reference Gasoline and Diesel Fuels” produced by IndianOil’s Paradip and Panipat refineries as a significant achievement, which contributes to the Make in India initiative and AtmaNirbhar Bharat vision. This marks India’s first venture into the production of reference gasoline and diesel fuels, aligning with international standards […]
Reliance Industries shares climb over 2 pc after Q2 earnings
Shares of Reliance Industries Ltd on Monday morning climbed more than 2 per cent after the company reported a 27 per cent jump in its September quarter net profit. The stock went up by 2.37 per cent to Rs 2,319 apiece on the BSE. On the NSE, it climbed 2.34 per cent to Rs 2,319 […]
Yogi govt in UP gearing up to produce CNG from stubble
In order to provide relief to the people residing in Uttar Pradesh from pollution caused by stubble burning, the Yogi Adityanath government is gearing up to produce compressed natural gas (CNG) from stubble in the state. It will provide income as well as employment to a large number of people. This effort will also lead […]