Oil Companies

State-owned oil marketing companies are considering paying refineries a price lower than the imported rates of petrol and diesel to limit mounting losses from a retail fuel price freeze, a move that could hit standalone refiners like MRPL, CPCL and HMEL. International oil prices have risen from about USD 70 per barrel before the West Asia conflict to over USD 100, but retail petrol and diesel prices in India have remained unchanged, forcing oil marketing companies (OMCs) to absorb the impact. With no immediate end to the conflict in sight, OMCs are exploring ways to limit losses on fuel sales, two sources aware of the matter said. One option under consideration is either freezing or fixing a discount on the refinery transfer price (RTP) - the internal price at which refineries sell fuel to marketing arms - to effectively pay refineries less than the import-parity cost of the fuels like petrol and diesel. The proposed move would prevent refiners from fully passing on higher crude co

The license covers variety of activities that could expedite the movement of Venezuelan oil, including exporting, selling, storing, refining that oil, as long as the work is performed by a US entity

The return of Venezuelan barrels to US buyers could mark one of the most significant shifts in global energy markets in recent years

Asked if he had spoken to top executives at Exxon Mobil Corp., Chevron Corp. and ConocoPhillips, Trump said it was 'too soon' to reveal whether he had any conversations

Oil and Natural Gas Corporation (ONGC) plans to store captured carbon dioxide in depleted wells at Gujarat's Gandhar oilfield, marking the company's first full-scale Carbon Capture and Storage (CCS) pilot and a major step in its decarbonisation strategy. The pilot will use two abandoned onshore wells to inject around 100 tonnes of CO2 per day into subsurface hydrocarbon reservoirs, officials said. CO2 will be captured from nearby industrial sources in the Dahej area as well as ONGC's own Hazira plant, transported to the Gandhar wells and injected underground to prevent it from entering the atmosphere. The project also aims to test using CO2 to enhance oil recovery, turning a potentially harmful greenhouse gas into a productive resource, they said. ONGC had previously sourced CO2 from Indian Oil Corporation's Koyali refinery, roughly 80 km away, for injections into the well. CO2 in the earth's atmosphere contributes significantly to global warming as a greenhouse gas. India is the 3

As part of Trump's pressure campaign, US forces have launched strikes on alleged drug trafficking boats that have killed more than 100 people, and seized two oil tankers

Despite the near-term volatility, HPCL's valuations remain reasonable, the brokerage noted. The stock trades at 1.4x one-year forward price-to-book, slightly above its long-term average of 1.2x.

On the bourses around 10:15 AM, Petronet LNG shares were struggling as the scrip was trading 1.31% lower at ₹273.95. In comparison, BSE Sensex was trading 0.29% lower at 83,289.99 levels.

Japanese shipping firm Mitsui O.S.K. Lines will operate two very large ethane carriers for Oil and Natural Gas Corporation (ONGC) to import petrochemical feedstock for a subsidiary of the state-owned company, sources said. ONGC has entered into a partnership to build, own and operate two very large ethane carriers (VLECs). The two firms are currently discussing equity structure of the joint venture, two sources with direct knowledge of the matter said. Mitsui is likely to own majority stake in the ships that would be built in Korean shipyards, they said adding the exact equity structure would depend on ONGC's appetite. The specialised ships, with an estimated cost of USD 370 million for the pair, are intended to secure the petrochemical feedstock for ONGC Petro Additions Ltd's (OPaL) Dahej facility, with ethane imports beginning around mid-2028. Sources said it would take about two-and-half-years to build the VLECs. Mitsui and its partners currently own and operate four liquefied

Nayara, which controls about 8 per cent of India's 5.2 million barrel-per-day refining capacity, has been struggling to transport fuel since being placed under EU sanctions

On a standalone basis, ONGC's gross revenue dropped 9.3 per cent Y-o-Y to ₹32,003 crore, while net profit fell 10.2 per cent to ₹8,024 crore from ₹8,938 crore last year.

Despite higher ethanol prices, India sticks to its blending mandate for energy security, farmer income, and sustainability

Only casualty for now is the export of fuels by the refiner

Chevron has scored a critical ruling in Paris that has given it the go-ahead for a USD 53 billion acquisition of Hess and access to one of the biggest oil finds of the decade. Chevron said Friday that it completed its acquisition of Hess shortly after the ruling from the International Chamber of Commerce in Paris. Exxon had challenged Chevron's bid for Hess, one of three companies with access to the massive Stabroek Block oil field off the coast of Guyana. We disagree with the ICC panel's interpretation but respect the arbitration and dispute resolution process, Exxon Mobil said in a statement on Friday. Guyana is a country of 791,000 people that is poised to become the world's fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. It has become a major producer in recent years. Oil giants Exxon Mobil, China's CNOOC, and Hess squared off in a heated competition for highly lucrative oil fields in northern South America. With Chevron .

An official said main problem for India's petroleum sector, considering its lucrative geology less than that of countries in Africa and South America, was frequent changes in tax & incentive policies

Drilling begun in Cambay Basin, second well dug in Andaman seas

The oil major has been more seriously discussing the feasibility and merits of a BP takeover with its advisers in recent weeks

The company's multi-pronged approach involves entering the refining and petrochemical sectors, trading liquefied natural gas and growing its renewable capacity

The deals highlight India's plan to more than double the share of gas in its energy mix by the end of this decade

State-owned Oil and Natural Gas Corporation on Monday said it has signed a pact with global oil major BP to explore collaboration in exploration and production, trading and other energy vectors, in India and internationally. The MoU comes within a month of ONGC selecting BP as a technical service provider for raising output from its flagship Mumbai High oil and gas field. "ONGC and BP have agreed to explore opportunities for collaboration and partnership across the energy industry in India and internationally, focused on oil and gas exploration and production, as well as trading and extending to other energy vectors," the firm said in a statement. The two companies signed a memorandum of understanding (MoU), on the eve of India Energy Week, the premier energy event in India. The signing ceremony was attended by ONGC Chairman and CEO Arun Kumar Singh and BP Executive Vice President, William Lin, along with senior leadership from both organisations. "Under the terms of the MoU, BP w