Page 3 - Oil Marketing Companies

After board meeting, Indian Oil withdraws Rs 22,000 crore rights issue

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

OMCs set to invest over Rs 2 trillion to meet India's growing oil demands

Projected capacity increases aim to address domestic energy needs and enhance global supply

Gross refining margins to bottom out soon before recovery, say analysts

Centre may not push OMCs to cut retail prices before elections, says Motlal Oswal

IndiGo, Ceat: Which stocks are on analysts' radar as oil falls below $70?

Brent crude price today: Analysts prefer aviation and tyre stocks among the lot, but remain cautious on paints and oil marketing companies

India may cut petrol, diesel prices as global oil prices reach 2024 lows

The government last cut petrol and diesel prices by Rs 2 per litre, ahead of the general elections in March 2024

BPCL sets up first-of-its-kind biofuel blend bunker at Mumbai port

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 .

Shares of oil marketing companies rally up to 6%; BPCL, HPCL at new highs

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.

Union Budget 2024 scraps Rs 15,000 crore mega net zero fund for OMCs

Originally announced as a Rs 30,000 crore fund in Budget 2023, the fund was never disbursed

IGL, MGL, Guj Gas likely to outperform OMCs; Charts show up to 17% upside

Oil & Gas stocks outlook: Indraprastha Gas and Mahanagar Gas are awaiting a breakout from a narrow trading band, show technical charts.

Oil, gas exploration offers $100 bn opportunity: Hardeep Singh Puri

Oil marketing companies in talks with Russia for long-term deal, say officials

Indian oil giants, Brazil's Petrobras in talks for long-term crude supply

Indian Oil, Hindustan Petroleum, and Bharat Petroleum are negotiating with Brazilian energy major Petrobras to secure long-term crude oil supply contracts to diversify its energy sources

Oil marketing companies slash commercial LPG cylinder prices by Rs 30

Commercial LPG cylinder prices for July have been further cut by Rs 30, after being reduced by Rs 70 in June. Its aimed at providing relief to enterprises in the food and hospitality industries

HPCL, BPCL gain up to 4% on bonus issue plan; IOCL down 2%

The boards of directors of HPCL, and BPCL are scheduled to meet on Thursday, May 9, 2024 to consider bonus issue plan

HPCL, BPCL, IOC stocks rally up to 4% as oil dips on ME ceasefire hopes

According to reports, Egypt has revived stalled negotiations between the Israel-Hamas for a ceasefire agreement, thereby pushing crude oil prices lower.

Oil marketing companies to bear latest oil price cut, not govt grant

OMCs have raked in record Rs 69K cr net profit in first 9 months of FY24

BPCL, HPCL, IOC down for 3rd straight day; slip upto 25% from 52-week highs

In past three days, shares of OMCs have declined between 8 - 12 per cent on concerns that recent petrol and diesel price cut could hurt the companies' profit margins in the near-term.

Sensex ends 454 pts lower, Nifty holds 22K; Auto, IT, Power shares weigh

Market wrap on March 15, 2024: Mahindra & Mahindra was the major loser among auto stocks, down 5%; Among others shares of oil marketing companies declined up to 6 per cent post fuel price cut.

Stocks to Watch, March 15: BPCL, IOC, IIFL Finance, Paytm, YES Bank, Biocon

Stocks to Watch on Friday, March 15, 2024: The Centre has reduced prices of petrol and diesel by Rs 2 per litre, effective from March 15, 6 AM

Oil marketing companies cut petrol, diesel prices after 22 months

Both petrol and diesel to be cheaper by Rs 2 in Delhi from Friday

Near-term upsides priced into stocks of oil marketing companies

Overall, IOCL and BPCL reported a net profit of Rs 8,063 crore and Rs 3,397 crore respectively, well ahead of Q3FY23 PAT of Rs 448 crore and Rs 1,960 crore