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Oil & Gas News
Oil & Gas
Rising crude hits petrol, diesel prices in India
Tue, Jan 16, 2018
Petrol and diesel are the mainstay for Oil Marketing Companies (OMCs), accounting for about 51% of the total petroleum product consumption in India as of FY17.
GAIL, GSPL fight over who will transport ONGC gas
Sun, Aug 06, 2017
GAIL says its pipeline would cost Rs 85.36 crore while GSPL India Transco Ltd's pipeline would cost Rs 250 crore.
Cabinet gives in-principle nod to 51% HPCL stake sale to ONGC
Wed, Jul 19, 2017
Post ONGC buying government stake, HPCL will become subsidiary of India's largest oil producer but its board will continue to be in place.
Shell, Engie exit Andhra Pradesh LNG project
Tue, May 23, 2017
Royal Dutch Shell, Europe's largest oil firm, and French energy major Engie have exited a floating LNG import terminal project at Kakinada in Andhra Pradesh over concerns about demand for imported gas in India.
Reliance's petrochemical business to cover Jio's weak cash generation
Thu, Nov 03, 2016
In H1FY17, the company had recorded EBIT losses of Rs 8 billion as compared to Rs 7.9 billion in H1FY16.
Bad days for national oil companies to continue, Fitch says
Wed, Sep 21, 2016
Most of the NOCs reported poor financial result for the first half or first quarter ended on June 30 due to a fall in average oil and gas prices from a year ago.
OMCs' free-cash flow to remain negative on high capex plans: Fitch
Tue, Sep 13, 2016
The OMCs aim is to improve refining complexity and meet new fuel standards.
ONGC to invest Rs 823 crore for gas development
Sun, Aug 14, 2016
ONGC also operates North Karanpura block and Raniganj North CBM block in West Bengal.
ONGC over-reported crude oil production, CAG claims
Mon, Aug 08, 2016
The report said, "ONGC has borne a subsidy burden of $56 per barrel of its total production of crude oil."
Bharat Forge net profit falls to Rs 122 crore, stock up 13%
Fri, Aug 05, 2016
The total income of the company declined from Rs 1215.9 crore in Q1FY16 to Rs 982.6 crore in Q1FY17.
BP eyes more spending cuts after 80% profit drop
Tue, Apr 26, 2016
"Market fundamentals continue to suggest that the combination of robust demand and weak supply growth will move global oil markets closer into balance by the end of the year," Dudley said in the results statement.