GAIL (India) Limited, India’s largest pipeline operator, said it has taken a 5% stake in Indian Gas Exchange or IGX. It is not clear whether the investment is into fresh shares or whether the purchase is those of shares belonging to an existing shareholder. However, GAIL said it signed a share purchase and shareholders agreement […]
Ashok Leyland, flagship of the Hinduja Group, said it has received BS-VI emission norm certificates for all its heavy duty truck, ahead of the April 1 deadline for the switch over to the new fuel and emission standard. All of the company’s trucks with a rating of 16.2 tons or above have received certificates from […]
ONGC Ltd will redraw its long-term roadmap in coming days to bring it in line with the changed operating realities of the company, the state-owned company’s chairman and managing director Shashi Shanker said. The company’s current vision document, known as Perspective Plan 2030, was drawn up seven years ago and laid out the company’s long […]
GAIL India, the country’s largest pipeline operator, said it has placed an order worth Rs 1,100 cr to buy pipeline required to connect the North Eastern states to the ambitious Jagadishpur— Haldia—Bokaro-Dhamra project. The Jagadishpur—Haldia—Bokaro-Dhamra project runs through three states — Jharkhand, Odisha and West Bengal, and is meant to connect these eastern states to the […]
Reliance Industries, one of India’s largest petroleum producers, said its D26 oil field in the KG-D6 offshore block has ceased production, a decade after oil started flowing from the field. The D26 was one of the three prolific fields of the D6 block. A field, in oil and gas terminology, is a smaller area within […]
The price of petrol charged to the dealers, before taxes and deal commission, is Rs 36.68 per liter in India as of July 16, while that of diesel was Rs 39.77, ministry of petroleum and natural gases has revealed. However, on that day, petrol was being sold at Rs 84.22 per liter in Mumbai and […]
Government of India has faced questions from members of parliament on reports that it has asked state-owned refiners to get ready to stop importing crude oil from Iran in the face of pressure from the United States. A question from Lok Sabha MPs Supriya Sule and Mullappally Ramachandran sought to know “whether the Government has […]
Larsen & Toubro, India’s largest construction firm, said it has won what it called a “significant” order from HPCL- Mittal Energy to construct seven cracker furnaces at the Bathinda Refinery in Punjab. The seven furnaces are of “1200 KTPA Dual Feed Cracker Unit” and is a part of the Guru Gobind Singh Polymer Addition Project. […]
Within weeks of starting the first ever long-term LNG supply from the US, India opened up yet another source of natural gas with the arrival of the first LNG shipment from Russia. Russia is currently, world’s largest crude oil & second largest gas producer in the world. While, lndia is world’s 3rd largest energy consumer […]
More than six years after an agreement was signed, US-based Cheniere Energy has started supplying liquefied natural gas or LNG to India. The first ship, Meridian Spirit, set sail from Louisiana and will reach Dabhol in Maharashtra by around 28 March, said GAIL, which is India’s largest gas supplier. Under the terms of the supply […]
Bharat Heavy Electricals Ltd, the largest Indian heavy equipment maker, said it won a Rs 1,034 cr order to set up a gas-based captive power plant at Hindustan Petroleum Corporation’s Visakh Refinery. The order, given on a turnkey basis, is part of the expansion project at the refinery at Andhra Pradesh. BHEL’s scope of work […]
The pace of growth in petroleum consumption slowed this year, but private retailers are getting ready to open more and more outlets, Fitch Ratings said. Consumption of petroleum products, such as diesel, petrol, LPG and kerosene, has been increasing at a rate of about 5% in India over the last three years, Fitch said. However, […]
With the financial year drawing to a close, Madhya Pradesh, Gujarat & Mumbai have emerged as the states where people pay the highest taxes on petrol and diesel, while Tamil Nadu was the state with the highest increase in rates this year. In Madhya Pradesh, people pay an eye-watering 39.75% tax on petrol imposed by […]
A proposed merger of Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp will reduce inefficiencies across the sector and result in enormous savings, ratings agency Fitch said. It would also create an entity that is better placed to compete globally for resources, and less vulnerable to shifts in oil prices and give it […]
Indraprastha Gas, the supplier of CNG and PNG in Delhi, has been authorized to construct the City Gas Distribution (CGD) network in Rewari in Haryana. Addressing the shareholders, Mr. Ravindran also gave an overview of future plans of the organization involving consolidation of its presence in existing areas as well as expansion in new geographies […]
Mangalore Refinery and Petrochemicals Limited, an oil refinery and subsidiary of ONGC, denied allegations that it has not been paying due excise duty. Media reports carried allegations that the company was not paying due excise duty on its production of Mixed Xylene, a raw material used in a variety of manufacturing industries, quoting tax officials. […]
Castrol India said its promoter Castrol Ltd sold 4.22 cr of its shares in the market through open sale today. Shares of Castrol India were up 9% at Rs 459.75 today. Castrol is a unit of UK-based BP Plc. With this, the promoter’s share in the company has come down from 59.4% to 50.9%. Back […]
Indraprastha Gas Limited said it opened 72 outlets of compressed natural gas in the national capital region in the last four months and another 18 will be opened this month. These have been opened at the fuel outlets of Indian Oil, BPCL and HPCL. “While 51 out of these 72 CNG fuelling facilities are located […]
Giving in to a long-standing demand, the Indian government has allowed new gas producers to enter into negotiated pricing deals with their customers subject to certain ceiling tariff. At present, gas prices are fixed by the government through a formula. The policy guidelines would be applicable to future discoveries as well as existing discoveries which […]
The price paid by India for a barrel of crude oil has fallen below the $30 mark for the first time in several years. On Jan 7, the average price paid by India for importing crude oil was $29.24, substantially lower than the $33 level seen in international oil exchanges such as NYMEX. India has […]
