Category: Oil & Gas

NEW DELHI: State-owned Hindustan Petroleum Corporation (HPCL) on Monday reported returning to profitability in the September quarter after a boost in marketing margin improved earnings. It logged a consolidated net profit of Rs 5,827 crorein the September quarter. In the year-ago period, the company had reported a loss of Rs 2,476 crore, it said in […]

LONDON: Oil prices rose on Monday, after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Brent crude futures rose $1.03, or 1.21%, to $85.92 a barrel by 0834 GMT, while U.S. West Texas Intermediate crude was at $81.58 a barrel, up $1.07, […]

BEIJING: Oil prices edged up on Monday as top exporters Saudi Arabia and Russia said they would stick to extra voluntary oil output cuts until the end of the year, keeping supply tight, while investors watched out for tougher US sanctions on Iranian oil. Brent crude futures rose 55 cents, or 0.65%, to $85.44 a […]

Morgan Stanley estimates a sustained oil price of $110 a barrel could undermine India’s economic stability, likely forcing the central bank to resume hiking interest rates. As the world’s third-biggest consumer of oil, India is one of the most exposed economies in Asia to rising crude prices. A $10 increase in oil prices boosts inflation […]

NEW DELHI: The government on Wednesday raised the price of commercial LPG refills by Rs 101, the second increase in a month that is bound to impact the margins of sweetmeat shops and small eateries during the festive season sales. After the latest increase, each 19-kg cylinder will cost Rs 1,833 in Delhi, Rs 1,943 […]

AHMEDABAD: Hit by the edible oil segment of its business, FMCG major, Adani Wilmar Limited, on Wednesday posted a net loss of Rs 131 crore in its second quarter results. During the second quarter of FY 2023, the company posted a net profit of Rs 48.76 crore, according to its stock exchange filing. “Profitability was […]

NEW DELHI: India’s fuel sales posted a smart rebounded and power demand surged by a record 22% in October as the monsoon clouds over economic activities lifted and auto sales raced ahead, signalling the onset of festive season demand. Government data showed power consumption spiking to 138.9 billion units (BU) compared to 113.9 BUs a […]

NEW DELHI: State-run gas utility GAIL on Wednesday entered into a Rs 63,000 crore feedstock contract with Bharat Petroleum for supply of propane for its upcoming petrochemical plant at Usar in Maharashtra. Under the deal, Bharat Petroleum will supply 600 KTPA (kilotonne per annum) of propane for 15 years from its LPG import facility at […]

PUNE: The adoption of flexible fuel cars is the next big step for India as far as increasing the use of biofuels is concerned. The Global Biofuel Alliance will aid the country in taking a step in that direction, industry experts said. In the recently concluded G20 summit hosted by India, 19 countries and 12 […]

NEW DELHI: State-owned gas utility GAIL on Tuesday posted a 56% jump in the net profit during the September quarter buoyed by expanding gas transmission volumes and margins on the back of rising consumption. Standalone net profit stood at Rs 2,404.8 crore during the July-September period against Rs 1,537.07 crore in the year-ago period. Pre-tax […]

NEW DELHI: A freeze on petrol and diesel prices amid declining crude during the July-September period helped IndianOil, the country’s largest oil refiner and fuel retailer, bounce back into black with a handsome profit of Rs 12,967 crore in the third quarter against a loss of Rs 272 crore in the previous corresponding period. The […]