The National Company Law Tribunal (NCLT) has directed to freeze and attach assets and properties of Videocon promoters following a petition by the Ministry of Corporate Affairs. The NCLT Mumbai Bench has directed the Central Depository Services Ltd (CDSL) and National Securities Depository Ltd (NSDL) that securities owned or held by the Videocon promoters “in […]
Category: Oil & Gas
Non-subsidised LPG cylinder gets costlier by Rs 25
In another hit to the wallet of the common man, oil marketing companies have raised the prices of non-subsidised LPG cylinders by Rs 25. In Delhi, the 14.2-kilogram non-subsidised cylinder will now cost Rs 884.50. Price in Kolkata is the highest among the four metro cities at Rs 911 per cylinder, while that in Chennai […]
Oil firms to open 262 retail outlets in North
To strengthen retail network in North, public sector oil companies will open 262 filling stations in the region, comprising Punjab, Haryana, Himachal Pradesh and J&K, in the current fiscal. The maximum outlets will be opened in Haryana (150), followed by Punjab (78) and Himachal (21) by three public sector oil companies — IOC, BPCL and […]
Four arrested for LPG theft in Barwala of Hisar
The Barwala police have arrested four persons in connection with theft of LPG from the tankers of the Bathinda refinery at a dhaba near Barwala of Hisar. The accused used to steal gas by breaking the seal of the tankers during their stopover from Bathinda to Jind for a break at the dhaba. A flying […]
Piped Natural Gas in Amritsar: Private firm accuses BJP councillor’s spouse of obstructing work
A private firm assigned to lay piped natural gas (PNG) pipeline in the city has accused BJP councillor Sandhya Sikka’s husband of obstructing work, manhandling workers and illegally confiscating their machinery. Anuj Sikka, spouse of the councillor, denied the allegations and said he had objected to the damage caused to water and sewer pipes in […]
Reliance slips 59 places on Fortune list, SBI jumps 16 notches
Billionaire Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries Ltd slipped 59 places to rank 155th on the 2021 Fortune Global 500 list released on Monday. Reliance took a beating on the rankings as revenues dropped owing to the Covid-19 pandemic. This is its lowest ranking since 2017. Walmart continues to top the Fortune list with a […]
IOC posts 3-fold jump in Q1 profit
Indian Oil Corporation (IOC), the country’s biggest oil refiner, on Friday reported a three-fold jump in its June quarter net profit on the back of higher refining margins and inventory gains. Standalone net profit of Rs 5,941.37 crore in April to June was up 210% when compared with Rs 1,910.84 crore a year earlier. Revenue […]
Nod to 100% FDI in oil PSUs approved for stake sale
The government on Thursday permitted 100% foreign investment under the automatic route in oil and gas PSUs which have received in-principle approval for strategic disinvestment. The move would facilitate privatisation of India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL). The government is privatising BPCL and selling its entire 52.98% stake in the company. […]
Reliance’s O2C, new energy biz may be valued over USD 100 billion: Report
Billionaire Mukesh Ambani-led Reliance Industries Ltd’s plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of USD 36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals—oil-to-chemical (O2C) business that houses its oil […]
Petrol, diesel prices hiked again
Petrol price on Thursday was hiked by 35 paise per litre and diesel by 15 paise, pushing rates to a new high across the country. Petrol in Delhi now costs Rs 101.54 a litre and diesel Rs 89.87 per litre, according to a price notification of state-owned fuel retailers. The increase comes after rates stayed […]
Oil leapfrogs to multi-year high after OPEC+ talks collapse
Oil prices surged to multi-year highs on Tuesday including US crude hitting its highest since 2014 after OPEC+ producers fell out over plans to raise supply in the face of rising global demand. Brent crude climbed 62 cents, or 0.8%, to $77.78 a barrel by 0748 GMT, a level not seen since October 2018. US […]
4 robbers loot Rs 80,000 from Kharar fuel station
Four miscreants looted around Rs80,000 and a mobile phone at gunpoint from two employees of a filling station on the Kurali road in Kharar here late last night. The incident took place around 2.15 am when two pistol-totting men barged into the office of Bheem filling station near Sahauran village and fired one round before […]