Indian Oil completes Mercator acquisition

Govt slashes windfall tax on domestic crude to Rs 5,700 per tonne
The government has slashed windfall tax on domestically produced crude oil to Rs 5,700 per tonne, from Rs 8,400 per tonne, with effect from Thursday.

ONGC, Oil India to get relief as Centre cuts windfall tax on crude oil
New Delhi: The Central government has cut the windfall tax on petroleum crude to 5,700 rupees (USD 68.34) per metric ton from 8,400 rupees with effect from Thursday, as part of its fortnightly revision that is calibrated with global prices.

GAIL net profit up multi-fold in Q4 FY24
New Delhi: State-run GAIL on Thursday reported a multi-fold jump y-o-y in its consolidated net profit at ₹2,474 crore during Q4 FY24, aided by higher numbers from transmission services, liquid hydrocarbons and petrochemicals. However, the country’s largest gas utility’s net profit on a sequential basis fell 23 per cent. GAIL’s consolidated total income stood at ₹33,070 crore in Q4 FY24 compared to ₹35,182 crore and ₹33,811 crore in Q3 FY24 and Q4 FY23, respectively.

Electioneering at its peak but diesel sales slide, petrol almost flat

Rising demand, declining-yet-healthy GRMs to support OMCs credit profile in FY25
New Delhi: Steady growth in demand for petroleum products coupled with declining-yet-healthy gross refining margins (GRMs) and rising oil and gas production will help maintain the credit profile of oil marketing companies (OMCs) in FY25.

ONGC enters the fray to acquire Ayana Renewable Power

New Delhi : Oil and Natural Gas Corporation has entered the fray to acquire a significant majority stake in Ayana Renewable Power Pvt. Ltd, as India’s largest crude and natural gas producer seeks to bulk up its clean energy portfolio.

India slashes windfall tax to Rs 5,700 per tonne, effective May 16

Nayara Energy to invest Rs 600 crore to set up two ethanol plants
Nayara Energy, a private downstream company, in its effort to diversify its product portfolio, is planning to invest Rs 600 crore for setting up ethanol manufacturing plants in the country. The move is in line with the government’s target of 20% ethanol blending for FY26, the company said on Tuesday.The company plans to set up two ethanol manufacturing plants, each with a production capacity of 200 kiloliters per day (KLPD), in Andhra Pradesh and Madhya Pradesh. Land for the proposed plants has already been identified and purchased in both states.

Tata Power installs 220 EV charging points across Karnataka

Cairn reserves and resources portfolio up 19%

Tata Power installs 220 RFID-enabled EV charging points across Karnataka
 

India's diesel shipments to Europe slip 20% as US, Gulf supplies rise

Nayara Energy to set up two ethanol plants for ₹600 crore

Oil prices tick up on tighter supply outlook

Brent hovers above $83 as inflation data takes centre stage

BPCL to invest ₹1.7 lakh crore in core and new energy business

BPCL expects to get lower discounts on Russian oil
Bharat Petroleum sees discounts on Russian crude shrinking to USD 3-6 per barrel against USD 8-10 last year, amid range-bound global oil prices, but will continue to import "significant" volumes, the company brass told investors on Friday.

IOC, BPCL, HPCL post Rs 81,000 cr record profit in FY24
IOC, BPCL, HPCL post ₹81,000 crore record profit in FY24
The Hindu Business Line

BPCL crude imports from Russia to fall in FY25, to buy 25% of total requirement

Mahanagar Gas Q4 Results Live : profit falls by 6.16% YOY
Mahanagar Gas Q4 Results Live : Mahanagar Gas announced their Q4 results on 09 May, 2024, revealing a slight decrease in revenue by 0.02% and a 6.16% decline in profit Year-on-Year (YoY). However, compared to the previous quarter, the company saw a 2.77% increase in revenue and a significant 20.47% decrease in profit.

Biomass fuels: challenges and opportunities
Fossil fuels currently meet this majority demand, raising concerns due to potential CO2 (a major greenhouse gas) doubling compared to preindustrial levels (approximately 285 ppm for about 400 000 years before the industrial revolution and reached 376 ppm as of 2005 and is still increasing). Halting fossil fuel use by 2050 is crucial to avoid exceeding the critical 2°C temperature increase threshold. Lignocellulosic biomass, a renewable and abundant resource, holds great promise for sustainable production of valuable chemicals and fuels, currently derived mainly from oil. Currently, biomass contributes 10% (5 x 10-19 kJ) to global energy consumption. Predictions estimate this value to reach 150 x 10-19 kJ by 2050, considering the diverse range of biomass resources available.

chargeMOD ties up with A Plus Charge to set up EV charging stations in North East
 

BPCL to invest INR 1.7 lakh cr in core, new energy business
"Our strategy is based on two fundamental pillars - 'Nurturing the Core'; and 'Investing in Future Big Bets'. We remain committed to our core businesses, which include the refining, marketing of petroleum products and upstream. In addition, we are focusing on our big bets, which comprise petrochemicals, gas, green energy, non-fuel retail, and digital," Krishnakumar said.

Oil prices up on stronger Chinese data, Middle East conflict

Oil & gas PSUs cut 15,700 jobs in 6 years even as revenue doubles

BPCL sees lower Russian crude discounts amid range-bound oil prices

BPCL’s consolidated net profit drops 30% in Q4FY24
State-owned Bharat Petroleum on Thursday reported a 30.3% decline in its consolidated net profit for the last quarter of FY24, dropping to Rs 4,789.57 crore from Rs 6,870.47 crore in the same period the previous fiscal due to high crude oil prices impacting refining margins of the company. 

HPCL Q4: Profit down 25%
Hindustan Petroleum witnessed a 25% decline in its consolidated net profit for the last quarter of FY24, dropping to Rs 2,709.31 crore from Rs 3,608.32 crore in the same period the previous fiscal.

Gujarat State Petronet Q4 Results Live : profit rise by 27.34% YOY
Gujarat State Petronet Q4 Results Live : Gujarat State Petronet announced their Q4 results on 08 May, 2024, with a 6.26% increase in revenue and a 27.34% rise in profit year-over-year.