Page 2 - Oil & Gas

Swan Energy raises Rs 3,000 cr via QIP of shares priced at Rs 670 apiece

Swan Energy on Thursday said it has raised Rs 3,000 crore from qualified institutional placement of shares which were priced at Rs 670 apiece. The issue got interest from qualified institutional investors including Quant Mutual Fund, SBI Life, LIC, LIC Mutual Fund, Tata Mutual Fund, Infini Mutual Funds, SBI General Insurance, BNP Paribas Mutual Fund, Nomura, Goldman Sachs, Future Generali, Anand Rathi, and other domestic and foreign institutions and family offices, the company said. The fund will be deployed to modernise the recently acquired Reliance Naval and Engineering's shipyard at Pipavav. Additionally, a portion of the fund will be allocated for project expansion and debt reduction. Paresh Merchant, an executive director of Swan said taking management control of Reliance Naval -- the largest defence shipyard in the country -- aligns with their vision to emerge as a leading private player in the manufacture of defence, commercial, and oil and gas vessels. The company aims to

Commissioning of new capacities can fire up Oil India stock even more

The PSU has delivered steady results in the October- December quarter (Q3) of FY24 and it is looking at ramping up production in both oil and gas

Cairn to begin drilling across 4 blocks in Assam next month: Deputy CEO

Despite a lack of good quality rigs in the market, Cairn has enough options, he says

HPCL, BPCL, IOCL: Here's why Morgan Stanley thinks OMC stocks can flare up

The S&P BSE Oil & Gas index has been an outperformer, surging nearly 20 per cent in CY24 as compared to the S&P BSE Sensex that has lost around 1 per cent during this period, shows data

Oil & gas shares in demand; ONGC hits 5-year high; HPCL soars 6%, IOCL 4%

In Q2, HPCL logged a consolidated net of Rs 5,827 crore, compared to a loss of Rs 2,476 crore in year ago quarter. Revenue, however, dipped 9.7 per cent YoY to Rs 1.02 lakh crore.

Nifty Metal index looks weak on charts; Oil & Gas seems range-bound

Ravi Nathani, an independent technical analyst, recommends initiating short positions on rise on the Nifty metal index with a stop at 6,550.

ONGC, Oil India rally up to 6% after government hikes natural gas price

The government on Thursday hiked the price of domestic natural gas to $8.6 per metric million British thermal units (MMBtu)

Mahanagar Gas hits 52-week high; soars 7% on margin improvement in Q4

The board recommended a final dividend of Rs 16 per equity share having face value of Rs 10 each (i.e. 160 per cent) for FY23.

Charts suggest near-term upside for pharma, oil & gas shares: Ravi Nathani

According to the technical analyst, he remains bullish on Nifty Pharma, and Nifty Oil & Gas indices

Oil & gas, power form bulk of stocks sold by FPIs in first fortnight of Feb

Financial services, IT, capital goods among favoured sectors, with FPIs buying stocks worth over Rs 5,600 cr in these spaces

Tech Mahindra signs MoU with Egyptian agency for delivery centre in Cairo

Facility will serve firm's clients across telecom, oil & gas, BFSI, Energy & Utilities and public sector; company to hire 1,000 staff to serve global and local customers from centre

Benchmarks extend record breaking run; Nifty tops 18,800; IT, metals shine

CLOSING BELL: Global cues triggered by Powell's positive remarks boosted sentiment. The Sensex scaled a new high at 63,583, while the Nifty 50 came within striking distance of 18,900 on Thursday.

IGL, MGL gain up to 4% post Kirit Parikh panel gas pricing recommendations

The S&P BSE Oil & Gas index hit a 52-week high of 20,653.57 in intra-day trade on Wednesday

The big short in oil & gas PSUs: Lack of leadership in sector hurting India

The government deplores the lack of good leadership in these companies but it adds to the problem with sub-optimal appointment practices for chief executives in this sector

Bharat Forge's subsidiary bags $155.5 mn order to export artillery guns

Bharat Forge has been consolidating its defence and aerospace business under Kalyani Strategic Systems with an aim to target export opportunities in the defence sector

OIL interested in picking up petroleum mining lease in Jaisalmer, Bikaner

OIL produces heavy oil and natural gas at Tanot Dandewala and Baghewala in the state, and is exploring PML for five more locations in the state.

IGGL gains 42.94% physical progress, Rs 1556.46 crore capital expenditure

The Indradhanush Gas Grid Limited (IGGL), joint venture of five oil and gas public sector undertakings, has achieved a physical progress of 42.94 per cent and a capital expenditure of Rs 1556.46 crore for the 2021-22 financial year, according to a company release here on Thursday. IGGL Chairman Atindra Roychoudhury said this while addressing the fourth annual general meeting. "The company achieved a capital expenditure of Rs 1556.46 crore and physical progress of 42.94 per cent in the financial year 2021-22", he said. The AGM was conducted in both physical and virtual mode and was attended by its directors, shareholders and other stakeholders, the release said. The IGGL is a joint venture of IOCL, ONGC, GAIL, OIL and NRL and is implementing the North East Gas Grid (NEGG) project connecting the capital cities and major demand centres of the North Eastern part of India to build a gas-based economy in the region. The NEGG is implemented as per the Hydrocarbon Vision 2030 of the Nort

Cuban oil facility on fire, leaves 1 dead, 17 missing and 121 injured

A fire set off by a lightning strike at an oil storage facility raged uncontrolled in the Cuban city of Matanzas, where four explosions and flames injured 121 people and left 17 firefighters missing

Refiners, upstream cos soar on windfall tax cut; CPCL up 11%, Oil India 8%

CPCL, Oil India, ONGC, MRPL, Gail (India) and Reliance Industries were up 4 per cent to 11 per cent on the BSE in intra-day trade.

FPIs raise the ante by driving up allocation to oil & gas, auto stocks

FPIs increased their allocations to the oil and gas sector by 44 bps and the power sector by 21 bps