BPCL to enter new non-fuel retail biz, develop large scale roadside amenities along new highways
Oil marketing companies have selected 26 Primary Agricultural Credit Societies (PACS) out of 286 applications for setting up retail petrol and diesel outlets, Cooperation Minister Amit Shah told Parliament on Tuesday. In a written reply to the Lok Sabha, Shah said the government has allowed PACS to operate retail petrol and diesel outlets and LPG distributorship. As informed by Oil Marketing Companies (OMCs), 286 PACS from 25 states and Union Territories have submitted online applications to establish retail petrol/diesel outlets, of which 26 PACS have been selected by OMCs, he said. Under conversion of PACS, Wholesale Consumer Pumps into retail outlets, OMC reports indicate that 116 PACS from five states have agreed to this conversion, and 56 PACS have been commissioned. For LPG distributorship, two PACS have applied for the two advertised locations in Jharkhand. As per the revised guidelines, PACS have been included under Combined Category 2 (CC-2) for retail petrol/ diesel ...
Starting today, a 19 kg commercial LPG cylinder in Delhi will cost Rs 1,797, down from Rs 1,804. In December 2024, the price of a commercial LPG cylinder was Rs 1,818.50
Despite legal setbacks, the Amit Shah-led ministry has moved rapidly forward and is expected to soon unveil a new set of regulations to further grow the cooperative sector
US refining utilization averaged 90.3 per cent in the fourth quarter, up from 87.6 per cent in the same quarter last year, according to Tudor, Pickering, Holt & Co
State-run oil marketing companies have reduced prices for 19-kg commercial LPG cylinders and aviation turbine fuel across major metros
Also, a report by Infomerics Ratings showed that in the last five financial years WPI rose by 24.3 per cent over the past 5 years
Resumption of more frequent revision in retail prices could be a driver. Policy risk appears low
TKIL Industries on Tuesday said that it has acquired a stake in Swiss company Sohhytec SA, which will give it access to a technology for producing green hydrogen directly from solar energy. TKIL, formerly known as Thyssenkrupp Industries India, can produce pressurised hydrogen and also set up the infrastructure which will be required to store and fill up vehicles, the company's chief executive Vivek Bhatia said. "We are already in conversations with OMCs (oil marketing companies) and we are giving our first proposals on what a hydrogen based retail facility will look like," Bhatia said. Automobile companies have already created the necessary engines to make it possible for vehicles to run on hydrogen, Bhatia said, pointing to a particular model commercially launched by a Japanese automaker and added that heavy vehicles will also benefit from its usage. Declining to disclose the stake bought in the Swiss company or the money invested for buying exclusive rights for the technology in
Puts up to Rs 18,000 cr worth rights issue plans on hold
No change in pump prices announced by oil marketing companies
The decision came after a communication from the Ministry of Petroleum and Natural Gas, which said that no funds had been earmarked for capital support to Oil Marketing Companies in the 2024-25 Budget
Projected capacity increases aim to address domestic energy needs and enhance global supply
Centre may not push OMCs to cut retail prices before elections, says Motlal Oswal
Brent crude price today: Analysts prefer aviation and tyre stocks among the lot, but remain cautious on paints and oil marketing companies
The government last cut petrol and diesel prices by Rs 2 per litre, ahead of the general elections in March 2024
Public sector oil marketing firm BPCL on Friday said it has set up a biofuel blend High Flash High-Speed Diesel (HFHSD) bunker at Mumbai Port. The facility, the first-of-its-kind by an OMC in the country, provides shipping companies with a cleaner, biodegradable alternative to traditional fuels, Bharat Petroleum Corporation Ltd (BPCL) said in a statement. This initiative not only supports environmental sustainability but also strengthens BPCL's position as a leader in the Indian bunkering market, it added. It also aligns with the global mandate to decarbonise the shipping sector apart from one of many green initiatives by the company, BPCL said. "Our Project Aspire, with its focus on green energy, is driving our efforts towards a cleaner future. This biofuel blend bunker is a significant step in that direction and positions BPCL as a global bunkering leader," said Sukhmal Jain, Director (Marketing) at BPCL. The company's foray into biofuel blends is part of a broader strategy to .
According to HPCL, India's ambitious goal of expanding road connectivity, manufacturing, and construction activities is expected to support economic growth and further drive oil consumption in India.
Originally announced as a Rs 30,000 crore fund in Budget 2023, the fund was never disbursed
Oil & Gas stocks outlook: Indraprastha Gas and Mahanagar Gas are awaiting a breakout from a narrow trading band, show technical charts.