Category: Oil & Gas

Reliance Industries’ promoter Devarshi Commercials LLP on Wednesday offloaded shares worth over Rs 11,000 crore in the firm through open market transactions. According to the block deal data on BSE, Devarshi Commercials sold shares of Reliance Industries through two separate transactions. While 5,80,40,583 shares were sold at an average price of Rs 950 apiece, 5,80,40,587 […]

State-level coordinator of oil industry and Executive Director of Indian Oil Corporation, Uttiya Bhattacharya, said on Wednesday that there was sufficient stock of petrol, diesel and LPG cylinders in Uttar Pradesh. The IOC official said in Lucknow that all PSU oil companies were working relentlessly during the tough times to maintain uninterrupted supply of fuel […]

The state cabinet in a meeting on Tuesday gave nod for establishing ethanol plants at cooperative sugar mills of Kawardha, Pandaria, Balod and Ambikapur. The plants will be set up under a public-private-partnership mode, an official sources said. The official sources said the meeting also approved a new tourism policy for the state. The Tourism […]

Moody’s Investors Service on Tuesday downgraded state-owned Oil and Natural Gas Corporation’s (ONGC) rating in view of the uncertain oil price environment, depleting cash reserves of the government and government guidelines constraining its ability to lower dividends. The rating agency downgraded ONGC’s local and foreign currency issuer ratings to Baa2 from Baa1. It also downgraded […]

Indraprastha Gas Ltd, the firm that retails CNG to automobiles in the national capital, on Monday shut down nearly two-third of its CNG dispensing outlets in Delhi, Noida and Ghaziabad as most vehicles went off-road due to coronavirus lockdown. While the company will operate 55 outlets spread across the national capital territory to cater to […]

The government on Monday amended the law to get enabling powers to raise excise duty on petrol and diesel by Rs 8 per litre each in future. Finance Minister Nirmala Sitharaman moved an amendment to the Finance Bill, 2020, to raise the limit up to which the government can raise special excise duty on petrol […]

Fuel outlets in the megapolis and the suburbs will remain open but with skeletal staff on Sunday and will operate only from 7 am to 7 pm from Monday till March 31 as the city is under lockdown. The curtailed operations on Sunday is in response to the voluntary curfew call to public by the […]

The country’s largest public sector refiner, Indian Oil Corporation (IOC), said on Saturday that all its fuel stations will remain open during the ‘Janata Curfew’ on Sunday, but will operate with skeletal staff. Prime Minister Narendra Modi had on Thursday urged the nation to follow Janata Curfew on Sunday and stay indoors to prevent the […]

Shares of Reliance Industries continued to trade with losses for the fourth consecutive session on Thursday, falling further by over 5 per cent. RIL stock tanked 5.34 per cent to close at Rs 917.10 on the BSE. During the day, it dropped 8 per cent to Rs 891 — its 52-week low. At the NSE, […]

A sharp plunge in the share price of Reliance Industries Limited, the country’s most valued firm, wiped out Rs 58,091.87 crore from its market valuation in just a day. The market bellwether’s scrip plummeted 8.28 per cent to close the day at Rs 1,015.25 on the BSE. During the day, it dropped 9.15 per cent […]

To protest the recent hike in excise duty on petrol and diesel, UP Congress leaders and workers staged demonstrations at all district headquarters on Monday. Chief of party’s Lucknow unit Mukesh Singh Chauhan and a sizeable number of workers staged demonstration at the GPO Park in Hazratganj. “The hike in excise duty has adversely affected […]

Petrol price was on Sunday cut by 12 paise a litre and diesel rates by 14 paise as oil companies moderated rate reduction amid the fall in global prices to absorb the hike in excise duty on fuel by the Government. Petrol in Delhi now costs Rs 69.75 per litre, while diesel is priced at […]