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Global brokerages raise target price on few oil & gas stocks; expect strong performance ahead

Global brokerages raise target price on few oil & gas stocks; expect strong performance ahead

Fri, Jan 05, 2024

Citi has also increased its target price on Gujarat Gas, Indraprastha Gas, and Mahanagar Gas.

EU agrees law to hit fossil fuel imports with methane emissions limit

EU agrees law to hit fossil fuel imports with methane emissions limit

Wed, Nov 15, 2023

The law will now be put to the European Parliament and EU countries for final approval. That step is usually a formality that waves through pre-agreed deals.

UK to grant hundreds of new oil and gas licenses, ignoring calls from environmentalists

UK to grant hundreds of new oil and gas licenses, ignoring calls from environmentalists

Mon, Jul 31, 2023

Britain said on Monday it will grant hundreds of new oil and gas licenses in the North Sea in a bid for energy independence, ignoring calls from the environmental campaigners and the United Nations to stop the development of new fossil fuel projects.

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Mahanagar Gas reports 30% rise in Q3

Mahanagar Gas reports 30% rise in Q3

Sun, Feb 12, 2017

In Q3, sales volumes went sequentially down by 1.56%. MGL said, “This was mainly on account of impact of demonetization mainly in case of CNG.” While net sales was below 3.32% yoy to Rs 500.84 crore due to pass through of reduction in input gas cost.

Chennai oil spill: Over 90% of clean-up work over,says Centre

Chennai oil spill: Over 90% of clean-up work over,says Centre

Sat, Feb 04, 2017

"The total quantity of sludge which was removed till February 2 was 65 tonnes. It is observed that there is a vast difference between quantity of oil spilt and sludge recovered due to the fact that the oil gets coagulated and becomes puffy when it is recovered with water and sand," an official release said.

Rupee depreciation remains a significant risk to India Inc

Rupee depreciation remains a significant risk to India Inc

Tue, Jan 24, 2017

In a report, India Ratings said that depreciation of rupee remains a significant risk for corporate balance sheets, although it may not derail the economic recovery, it could impact their credit profile.

Reliance Industries writes down nearly Rs 40,000 crore on change in accounting policy

Reliance Industries writes down nearly Rs 40,000 crore on change in accounting policy

Thu, Jan 19, 2017

Reliance Industries Ltd has written down Rs 39,570 crore in value of its oil and gas assets including the flagging KG basin D6 block and US shale gas projects, in view of change in accounting policy.

Reliance Industries writes down nearly Rs 40,000 crore on change in accounting policy

Reliance Industries writes down nearly Rs 40,000 crore on change in accounting policy

Thu, Jan 19, 2017

Reliance Industries Ltd has written down Rs 39,570 crore in value of its oil and gas assets including the flagging KG basin D6 block and US shale gas projects, in view of change in accounting policy.

Bluechip PSUs eye EPFO funds

Bluechip PSUs eye EPFO funds

Tue, Jan 10, 2017

"As of now, about seven PSUs came forward to take investments from us (EPFO). We received a communication from the Ministry of Finance to increase our investments in PSUs. The return may be higher than what we are getting now," said Labour Minister.

MobiKwik targets Rs 600 crore GMV from oil and gas sector in 2017

MobiKwik targets Rs 600 crore GMV from oil and gas sector in 2017

Tue, Jan 10, 2017

The mobile wallet company also announced that it will have zero surcharge on all transactions at petrol pumps and on LPG gas payments.

Demonetisation will help Indian economy tremendously, says Anil Agarwal, Chairman, Vedanta Ltd

Demonetisation will help Indian economy tremendously, says Anil Agarwal, Chairman, Vedanta Ltd

Thu, Jan 05, 2017

In conversation with Chairman of Vedanta, Anil Agarwal, Manoj Dharra talks about expectations from Budget 2017, Vedanta's performance impact due to demonetisation.

Digital Push: Major oil companies provides discount on online payment for LPG refill

Digital Push: Major oil companies provides discount on online payment for LPG refill

Tue, Jan 03, 2017

In a move to boost online payment for LPG refill, major oil companies like Indian Oil Corp, Bharat Petroleum Corp Limited (BPCL) and Hindustan Petroleum Limited (HPCL) on Tuesday announced upfront discount of Rs 5 on every LPG refill for their customers.

HPCL misses estimates in Q2; plans to issue Rs 6000 crore NCDs

HPCL misses estimates in Q2; plans to issue Rs 6000 crore NCDs

Tue, Nov 15, 2016

HPCL missed estimates by reporting net profit of Rs 701.32 crore for second quarter September 30, 2016, against net loss of Rs 317.13 crore in the corresponding period of the previous year. A Bloomberg poll estimated net profit to be around Rs 1,050 crore for this quarter.

Centre imposes Rs.10,000 crore penalty on RIL, partners

Centre imposes Rs.10,000 crore penalty on RIL, partners

Sat, Nov 05, 2016

RIL said, it will issue a notice of arbitration against what it called was a globally unprecedented and arbitrary decision.It said it carried out its activities within the boundaries of the block it operates and abided by the law.

ONGC net profit rises by 6% to Rs 4975 crore; announces bonus issue

ONGC net profit rises by 6% to Rs 4975 crore; announces bonus issue

Thu, Oct 27, 2016

State-owned ONGC reported net profit of Rs 4974.92 crore for the second quarter ended September 30, 2016 (Q1FY17), registering growth of 6.27% year-on-year and 17.53% rise on quarter-on-quarter (qoq) basis.

Deal with Rosneft is U.S. sanctions-compliant, says Prashant Ruia

Deal with Rosneft is U.S. sanctions-compliant, says Prashant Ruia

Mon, Oct 17, 2016

He said the deal did not violate the economic sanctions imposed by the U.S. government on Russian entities over Russia`s role in the Ukraine crisis. "The way it is structured, it is fully compliant. We are well within the rules that govern Russian companies."

Indian consortium eyes stake in Russian Arctic oilfield

Indian consortium eyes stake in Russian Arctic oilfield

Wed, Oct 12, 2016

Oil India Limited (OIL), Indian Oil Corp (IOC) and Bharat PetroResources Ltd (a unit of Bharat Petroleum Corp Ltd or BPCL) is looking at buying a stake in Suzunskoye, Tagulskoye and Lodochnoye fields - collectively known as Vankor Culster, sources privy to the development said.

Oil hits multi-week lows as growing supplies stoke glut concern

Oil hits multi-week lows as growing supplies stoke glut concern

Fri, Sep 16, 2016

India`s daily oil imports from Iran rose to the highest in at least 15 years in August, according to trade sources and shipping data.

Petrol price hiked by Rs 58 paise; Diesel price gets cut by Rs 31 paise

Petrol price hiked by Rs 58 paise; Diesel price gets cut by Rs 31 paise

Thu, Sep 15, 2016

“The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant increase in selling price of Petrol and decrease in selling prices of Diesel, the impact of which is being passed on to the consumers with this price revision.” said IOC.

Gail India's net profit clocks three-folds jump yoy to Rs 1335 crore

Gail India's net profit clocks three-folds jump yoy to Rs 1335 crore

Wed, Sep 07, 2016

Largest gas transmission company - Gail India's net profit for the June quarter ended 2016 (Q1FY17), recorded three-folds jump on the back of robust other income.

ONGC records 21% decline in net profit to Rs 4233 crore

ONGC records 21% decline in net profit to Rs 4233 crore

Wed, Sep 07, 2016

On segment wise revenue break-up, the offshore business was at Rs 12,542.65 crore, declining by 22.26% yoy, while onshore was at Rs 5242.10 crore, down by 19.26% yoy.

Vedanta-Cairn merger gets shareholders nod

Vedanta-Cairn merger gets shareholders nod

Tue, Sep 06, 2016

It said in the statement,"Vedanta Resources plc announces that at its General Meeting held today, Tuesday 6 September, the resolution put to shareholders in relation to the proposed merger of Vedanta Limited and Cairn India Limited (the "Merger") was duly passed on a poll."

Oil India's net profit declines by 33% on weak segment performance

Oil India's net profit declines by 33% on weak segment performance

Tue, Sep 06, 2016

Oil India reported weak June quarter ended 2016 (Q1FY17) performance led by decline in crude oil, natural gas and liquified petroleum gas (LPG) segment.

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