Share prices of both upstream and downstream public sector oil companies fell up to two per cent on Monday. Even Essar Oil, a private fuel retailer, fell 1.50 per cent on the Bombay Stock Exchange.
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
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.
Oil companies choose to skip the revision this time.
Sports Minister Jitendra Singh responded to his senior colleague in the government Veerappa Moily's letter to him in connection with Jwala Gutta's ongoing impasse with the BAI, saying that he will examine her case and see how he can extend support to her.
A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry and Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh
Chinese stock markets suffered their biggest single-day drop since the global financial crisis.
Oil prices have declined by more than 60 per cent since January with benchmark crude falling well below $30 per barrel, driven by an acute oil demand decline caused by the coronavirus and a lack of production cuts by OPEC and other oil producing countries.
In a tweet, Modi said India is 'delighted to welcome' the Crown Prince of Saudi Arabia.
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
#GiveItUp but no matching LPG connections for BPL
The new prices will be effective from Friday midnight.
Indian companies place orders worth $600 million for US crude, which is likely to increase by nearly $2 billion in the near future.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.
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The 30 Sensex companies alone, which are among the biggest companies in the country, now account for nearly 50% or about Rs 47 lakh crore of total investor wealth.
'It was more than ego.' 'It carried with it a sincere belief that he was the quintessence of the country, that the country's destiny was irrevocably intertwined with his destiny.' An excerpt from T J S George's The Dismantling of India: In 35 Portraits.
As fuel prices surged in September, the government's decision to ask companies to cut price by Rs1 each on a litre of petrol and diesel came as a dampner for private players.
According to estimates, if the companies are not allowed to raise petrol rates at least Rs 5 a litre by the first fortnight of September, they might begin to suffer underrecoveries on this decontrolled auto fuel, too -- for the first time this financial year.
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
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State oil refiners, who are the biggest buyers of US dollars, agreed to implement the RBI order with immediate effect, sources with direct knowledge of the development said.
With rupee falling to new lows, losses on diesel and cooking fuel have widened to their highest levels this year, upsetting the government's subsidy maths.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
Corporate revenues will decline for a third consecutive quarter in March on a YoY basis - one of the worst shows by these companies in many years.
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like Oil and Natural Gas Corporation.
The rupee had edged higher by four paise to end at 61.51 against the American currency in yesterday's trade on fresh selling of dollars by banks and exporters.
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Govt diverts Rs 253-crore subsidy savings to the poor.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
Petrol gets expensive but diesel is cheaper by Rs 1.35/ per litre.
IOC is building a 5 million tonnes per annum LNG terminal at Ennore near Chennai which is to be completed by 2017.
OVL, the overseas arm of state-run explorer Oil & Natural Gas Corporation, and Oil India Limited agreed in June last year to jointly buy Videocon's 10 per cent interest in the Rovuma Area 1 for $2.475 billion.
The private companies announced projects worth Rs 11.33 lakh crore (Rs 11.33 trillion) during 2014-16.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are losing Rs 486 crore (Rs 4.86 billion) per day as they are made to sell diesel, domestic LPG and kerosene way below cost to keep inflation under check.
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
Making sense of the international crude market is incredibly hard.
