Billionaire Mukesh Ambani’s Reliance Industries on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis. Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 […]
Category: Oil & Gas
RIL Q2 profit jumps 43% to Rs13,680 cr
Billionaire Mukesh Ambani’s Reliance Industries on Friday reported a 43% jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis. Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 crore, or […]
GAIL to build largest green hydrogen plant
GAIL (India) Ltd will build India’s largest green hydrogen plant in the next 12-14 months, as it looks to supplement its natural gas business with carbon-free fuel. Speaking at the India Energy Forum by CERAWeek, GAIL Chairman and Managing Director Manoj Jain said the company is looking at building a 10-megawatt (MW) electrolyser capable of […]
Govt to sell half of Mangaluru strategic oil reserves by yr-end
India has started selling crude oil from its strategic reserves to state refiners with a view to soften the blow from surging global crude prices, while also creating space for leasing out to private and international companies. “We have started selling to oil marketing companies. This will help to create space that we will then […]
Petrol selling at Rs 119 a litre and diesel at Rs 110 a litre in Rajasthan’s Ganganagar
Petrol and diesel prices on Thursday were hiked by 35 paise per litre each, the second consecutive day of increase that took the rates across the country to record high levels. The price of petrol in Delhi rose to its highest-ever level of Rs 106.54 a litre and Rs 112.44 per litre in Mumbai, according […]
Petrol, diesel prices hiked again; cost 30 per cent more than ATF
Petrol and diesel prices on Sunday was hiked again by 35 paise a litre and the auto fuels now cost a third more than the rate at which ATF is sold to airlines. The fourth straight day of 35 paise per litre hike sent petrol and diesel rates to record highs across the country. The […]
Only three bidders for 21 oil, gas blocks
India’s latest bid round for 21 oil and gas blocks attracted just three bidders, two of whom were state-owned explorers Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL), according to upstream regulator DGH.
Diesel crosses Rs 100 mark in Rajasthan’s Jaipur
After petrol, price of diesel in Jaipur district has crossed Rs 100 per litre mark, as per the data of Rajasthan Petroleum Dealers Association (RPDA). Petrol and diesel prices in Jaipur are Rs 109.40 and Rs 100.10, respectively on Monday. “Fuel prices are on continuous rise. After petrol, diesel price has crossed Rs 100 per […]
Petrol, diesel prices hiked; more to come as crude nears USD 80/barrel
Petrol price on Tuesday was hiked by 20 paise per litre and diesel by 25 paise as international oil prices neared USD 80 per barrel mark for the first time in three years. The price of petrol was hiked to Rs 101.39 a litre in Delhi from Rs 101.19 and to Rs 107.47 per litre […]
Nirmala Sitharaman: Not apt time to bring petro goods under GST
Meeting in-person for the first time after two years, the GST Council on Friday reduced or waived cess on a large number of critical-use medicines, but decided that this wasn’t the right time to bring petrol and diesel under the GST. The council also agreed that compensation cess, which is over and above the GST, […]
GST Council meet today: Covid relief, bringing oil and gas indirect tax regime on agenda
The GST Council will meet in Lucknow on Friday to take decisions on issues related to duty revision that were put on the back burner in earlier meetings to focus on the Covid relief measures amid rising cases during the second wave of the pandemic. The meeting, however, is expected to announce a few more […]
Cairn accepts $1-bn refund offer, to drop cases against India: CEO
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a $1-billion refund resulting from the scrapping of a retrospective tax law.