Of the 1.32 trillion capex target for FY26, State-run oil firms have already spent 1.07 trillion in the first 10 months.
'Crude oil prices are around $66-67 per barrel now but could fall to $55-60 if global disturbances ease.'
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
Chennai Petroleum Corporation Ltd has posted a net profit of Rs 323.80 million for the quarter ended December 31, 2002 as compared to Rs 349.50 million in the quarter ended December 31, 2001.
The sharp pullback in mid and smallcap stocks signals a cooling-off period in segments that previously attracted considerable investor interest.
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
Rekha Jhunjhunwala's net worth has increased by more than 7 per cent, or Rs 2,865 crore, compared to less than 1 per cent rise in the BSE Sensex.
After a spike in crude oil and gas prices in October following the Hamas terror attack, prices eased down 9 per cent month-on-month in November. The Organization of the Petroleum Exporting Countries (Opec) and Opec+ agreed to a further voluntary production cut in January-March 2024 to try and support global crude prices. The best guess here is that crude prices (currently at $75/barrel, or bbl) will not likely cross significantly above $80, and gas prices are also likely to remain subdued unless there's a further escalation in the Israel-Hamas conflict.
Sabaretnam is survived by two sons and a daughter.
Insurance companies are anticipating claims of at least Rs 500 crore from the incessant rains and flooding in Chennai.
According to an official source, the Rs 8,000-crore (Rs 80-billion) capacity expansion plan by Chennai Petroleum Corporation Ltd may get hit as European companies are reluctant to give technology licensing for the upcoming six-million tonne units.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Chennai Petroleum Corporation Ltd set up a crude oil jetty in Nagapattinam at Rs 960 million to meet requirements of Cauvery Basin Refinery.
The public sector oil companies -- Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum -- may suffer a Rs 25,000 crore revenue loss on fuel sales this fiscal, said S Behuria, chairman and managing director, IOC.IOC, BPCL and HPCL incurred a revenue loss of Rs 1.03 lakh crore on sale of petroleum fuel in 2008-09. The global rise in crude oil prices will increase the under-recoveries for PSUs on sale of fuel at controlled prices.
CPCL, in which Indian Oil holds 51 per cent stake, runs a 9.5-million tonnes per annum refinery at Manali in Chennai.
If Reliance has to pay about one percentage point more for short-term money, the bond market could be out of bounds for many lower-rated firms after some time.
Giving another boost to the great Indian growth story, seven domestic firms have been named as the emerging global challengers to the world's leading blue chips by the global equity research major Standard and Poor's.
State owned refiner Indian Oil Corporation has proposed merger of its subsidiaries Indian Oil Blending Ltd, IBP Co Ltd, Bongaigaon Refinery and Petrochemicals Ltd and Chennai Petroleum Corp Ltd with itself, Petroleum Minister Mani Shankar Aiyar said
Ricoh India, the largest gainer among these pack, has rallied 192 per cent from Rs 294 to Rs 859 on the BSE so far in the current calendar year.
Chennai Petroleum Corporation Ltd, a subsidiary of the Indian Oil Corporation, is planning an investment of Rs 2400 crore during the 10th Plan period, M S Ramachandran, chairman of IOC group companies, said on Thursday.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
In all, 25 Chairman-cum-Managing Director (CMD) posts, 8 MD posts and 2 Chairman posts are lying vacant, according to a written reply by Minister of State for Heavy Industries and Public Enterprises P Radhakrishnan in the Lok Sabha.
The institute's incubation cell claims the start up mortality rate in the incubators are lowest.
Oil Minister Dharmendra Pradhan had last month told the Parliament that his Ministry has disallowed RIL from recovering $2.376 billion invested to develop offshore Krishna Godavari gas fields as output has fallen drastically and was way below the promised volumes in past four years.
Sensex under pressure as Yellen signals rate hike; banking stock slip.
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
With this, the total penalty on RIL for missing the target in four fiscal years beginning April 1, 2010 now stands at a cumulative $2.376 billion, the Minister informed the Lok Sabha on Tuesday.
Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, India's biggest oil and gas producer ONGC may buy all of the government's 51.11 per cent stake in Hindustan Petroleum Corporation Ltd.
It calculated that the government should have got an additional profit share of $ 115.263 million.
He said the NDA's work culture was different from that of the previous governments.
Asian markets were trading mixed with shares in China witnessing profit taking after sharp gains in the previous session.
Govt plans to stop RIL from selling crude to Jamnagar refinery.
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