Page 9 - Oil Companies

World Coronavirus Dispatch: Top-5 oil firms cut value of assets by $50 bn

New Zealand marks 100 days of no domestic virus, Brazil deaths hit 100,000, Japanese scientists turn to silkworms for vaccine, and other pandemic-related news across the globe

Oil firms collectively cut the value of their assets by nearly $50 bn in Q2

London-based BP has previously said it plans to cut its overall output by roughly 1 million barrels of oil equivalent (boepd) by the end of 2030 from its current 3.6 million boepd

BP halves dividend after record $ 6.7 billion loss in second quarter

All major oil companies suffered in Q2 as lockdowns to contain coronavirus limited travel and oil prices fell to their lowest in two decades

Oil companies hold diesel, petrol prices for three consecutive days

Oil marketing companies decided to keep the pump prices of petroleum products petrol and diesel unchanged on Thursday

Chevron to buy Noble Energy for nearly $5 billion in rare oil-bust deal

The deal will grow Chevron's shale presence in both the Permian Basin and the Denver-Julesburg Basin in Colorado.

Domestic drilling industry to approach operators with cost sharing plea

Companies say their costs have escalated after government declared norms for drilling crews.

Covid-19 drives oil companies to raise record debt to boost cash reserves

Benchmark Brent crude averaged below $30 a barrel in the second quarter when it hit the lowest in two decades

Assam oil well fire continues, OIL says production getting affected

The well no. 5 at Baghjan in Tinsukia district has been spewing gas uncontrollably for the last 22 days and it caught fire on June 9, killing two of OIL's firefighters at the site

Petrol up by 57 paise per litre, diesel by 59 paise in 6th consecutive hike

Rates have been increased across the country and vary in each state depending on the incidence of local sales tax or value-added tax

How US could use taxpayer dollars to save oil and energy companies

The US federal government could use some of the $2.6 trillion coronavirus rescue legislation, or other options to help the industry

Oil companies seek mechanism to pass through BSVI upgrade cost

BPCL will roll out BS-VI fuels at all its outlets from March

Oil companies defer decision to suspend fuel supplies to Air India

The decision was taken after Air India made a written request and also promised regular payments to clear over Rs 5,000 crore in overdue fuel bills.

Oil cos say Air India not paying Rs 100 cr a month, threaten to snap supply

The monthly payment was besides the airline being put on cash-and-carry where it was given fuel only against cash payment

OMCs flag roadblocks in govt's plan of rationalising taxes on jet fuel

Currently, airlines have to pay taxes for certain services, such as 'throughput charges', 'into-plane charges' and 'fuel-infrastructure charges' when they take the ATF at any airport for their planes

Govt to offer six oil & gas blocks in unexplored Vindhyan, Bengal basins

The government sees this as a milestone in the country's hydrocarbon sector, as investments so far were limited to only seven of the 26 sedimentary basins in the country

State oil cos recover as oil prices drop, but that's not helping consumers

In October, companies were told to gradually recover the reduction in the margins if crude prices fell, two finance ministry officials said

India opens Padur strategic reserves for foreign oil companies

The SPR facility at Padur is an underground rock cavern with a total capacity of 2.5 million tonnes (MT) having four compartments of 0.625 MT each

Fuel price cut may dent EBITDA of IOCL, HPCL, BPCL by Rs 65 bn: Moody's

These three OMCs account for about 95 per cent of the country's retail fuel sales

When it comes to paychecks, oil firms looks like best bet for US workers

Is it time to move over Wall Street titans and Silicon Valley giants, when it comes to doling out America's fattest paychecks?

Govt may ask oil firms to share LPG, kerosene subsidy burden: India Ratings

India Ratings said ONGC's acquisition of Hindustan Petroleum Corp Ltd (HPCL) will be credit neutral for ratings of HPCL