Indian Oil Corporation (IOC) aims to become a USD 1 trillion company by 2047 by expanding traditional oil operations and investing in green energy like green hydrogen and EV charging.
Continue readingIndian Oil Corporation targets USD 1 trillion revenue by 2047: Chairman
Bharat Petroleum Corp, India’s third-largest refiner, anticipates Middle Eastern crude producers to reduce official selling prices due to declining fuel margins. Global refiners face lower profitability with decreased fuel cracks.
Continue readingIndian refiner BPCL sees further cuts in oil OSPs as fuel margins drop
ONGC Videsh will acquire Equinor’s 0.615% stake in ACG oil field and 0.737% in BTC pipeline for $60 million, adding to its 2.31% ACG and 2.36% BTC holdings. SOCAR buys
Continue readingONGC acquires Equinor stake in Azerbaijan oilfields for USD 60 mn
Minister Sarbananda Sonowal, overseeing Ports and Shipping, and MP for Dibrugarh, now ex-officio for Digboi and Makum, pointed to historical neglect by Congress. Modi’s ‘Sabka Saath, Sabka Vikas’ led to
Reliance Industries’ Q1 profit dropped to Rs 15,138 crore, a 5% year-on-year and 20% quarter-on-quarter decline from March’s Rs 18,951 crore. The O2C segment experienced a 14.3% EBITDA fall due
According to a press release, the agreement encompasses the acquisition of a 0.615 per cent participating interest (PI) in the ACG field and a 0.737 per cent shareholding in the
Continue readingONGC Videsh to acquire stake in ACG oil field, Azerbaijan
Union Minister Hardeep Singh Puri announced a significant milestone at Assam’s Dirok Field, where a new reservoir, Sand-9, tested at 6 million standard cubic feet of gas per day. The
Indian Oil and ONGC led Q1 spending with ₹8,500 crore and ₹8,000 crore, contributing to ₹26,500 crore spent by state oil firms out of a ₹118,500 crore budget. Hindustan Petroleum,
Continue readingIndian Oil capex at Rs 8,500 crore in Q1, ONGC's Rs 8,000 crore
Consumption of refined products increased 2.6% in June to 20 million metric tonnes (MMT). For the April-June period, the growth was 3.4%, led by 11.4% increase in aviation turbine fuel
Continue readingConsumption of natural gas rises 7.1% YoY in June
In New Delhi, Hardeep Singh Puri reviewed Indian PSUs’ global footprint, including ONGC Videsh Ltd, IOCL, Oil India Ltd, BPRL, GAIL, and Prize Petroleum’s 45 assets across 21 countries worth