Category: Oil & Gas

Indian Oil Corporation (IOC) on Friday said its December quarter net profit more than doubled to Rs 4,916.59 crore as rising oil prices yielded inventory gains and a rise in petrochemical margins. The net profit in October-December 2020 was 110% higher than Rs 2,339.02 crore earning in the same period a year back. “Net profit […]

While the pandemic pummelled tax collection across the board, excise duty mop-up jumped 48 per cent in the current fiscal on the back of a record increase in taxes on petrol and diesel, that more than made up for the below normal fuel sales. Excise duty collection during April-November 2020, was at Rs 1,96,342 crore, […]

IndianOil has teamed up with SBI to launch the co-branded RuPay debit card. It was launched by SBI chairman Dinesh Kumar Khara and IndianOil chairman Shrikant Madhav Vaidya at a virtual ceremony held recently.

Petrol and diesel prices on Thursday were hiked by 25 paise per litre each, the second straight day of increase in rates that took the prices to new highs. Petrol now costs Rs 84.70 per litre in Delhi and diesel is priced at Rs 74.88, according to a price notification from oil marketing companies. This […]

Petrol price on Wednesday touched a new high of Rs 84.45 per litre in the national capital after state-owned fuel retailers hiked prices after a five-day hiatus. Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies. In Delhi, petrol now costs Rs 84.45 […]

Petrol price on Thursday scaled to an all-time high of Rs 84.20 per litre in the national capital after state-owned fuel retailers hiked rates for the second day in a row. Petrol price on Thursday was hiked by 23 paise per litre and diesel by 26 paise a litre, according to a price notification from […]

Petrol price on Thursday scaled to an all-time high of Rs 84.20 per litre in the national capital after state-owned fuel retailers hiked rates for the second day in a row. Petrol price on Thursday was hiked by 23 paise per litre and diesel by 26 paise a litre, as per notification of oil marketing […]

India has been ordered to return up to USD 1.4 billion to Cairn Energy plc of the UK after the government lost an international arbitration over the retrospective levy of taxes. The three-member tribunal, which also comprised a nominee of the Indian government, unanimously ruled that India’s claim of Rs 10,247 crore in past taxes […]

Reliance Industries (RIL) and its partner BP plc of the UK on Friday announced the commencement of natural gas production from Asia’s deepest project, putting the second wave of discoveries in the KG-D6 block onstream. The production from ultra-deepwater R-Cluster, the first of the three deep-sea projects Reliance-BP are developing in the eastern offshore block, […]

Petroleum Minister Dharmendra Pradhan on Thursday said the government has planned a $60-billion investment for creating gas infrastructure in the country till 2024, and gas’ share in the energy mix is expected to rise to 15% by 2030. Currently, gas accounts for 6% in the country’s total energy mix. Speaking at Assocham Foundation Day Week […]

Reliance Industries (RIL) and other producers of natural gas will no longer need the government approval for the gas price if it is arrived at using the new guidelines for the discovery of market price, an official order said. The Ministry of Petroleum and Natural Gas last week notified guidelines for the discovery of market […]

Energy supermajor Exxon Mobil Corp is in talks to buy a stake in producing oil and gas fields in India, Oil Minister Dharmendra Pradhan said on Wednesday showcasing efforts to raise domestic output to cut imports. Exxon Mobil had in October last year signed a memorandum of understanding (MoU) with state-owned Oil and Natural Gas […]