Page 4 - Oil Marketing Companies

HPCL, BPCL, IOC slip up to 4% after CLSA recommends Sell; sees 37% decline

Analysts at CLSA believe that HPCL, BPCL and IOC were pricing-in much higher than historical marketing margins, and a notable premium to the global peers

Dhamra LNG terminal expansion on the anvil, says Adani Total CEO

Dhamra LNG terminal, India's newest and only terminal on the Eastern coast will take advantage of the Urja Ganga and Indradhanush gas grids, to service the region

IOC, BPCL, HPCL: OMCs shares on fire post Interim Budget; check key levels

IOC is likely to trade on a bullish note as long as the stock sustains above Rs 165, suggests the daily chart.

Shell's 2023 profit drops 30% to $28 billion, boosts dividend by 4%

The British company's payouts to shareholders reached around $23 billion in 2023, over 10% of Shell's market value

BPCL Q3 results: Consolidated net profit rises 82% to Rs 3,181 crore

The average gross refining margin (GRM) of BPCL for FY24 came in at $14.72 per barrel as against $20.78 a barrel in the first nine months of FY23

Oil marketing companies float a second tender for ethanol supply

But, no mention of ethanol from cane juice and b-heavy molasses

India has no problem in making payment for Russian oil: Hardeep Puri

Puri, who is in charge of the Petroleum and Natural Gas Ministry, said India enjoys a buyers' position and foreign oil suppliers are making offers to its companies

OMCs hike procurement price of ethanol produced from C-heavy molasses

After the hike, the procurement price of ethanol produced from C-heavy molasses would be Rs 56.28 per litre as against Rs 49.41 per litre in 2022-23 procurement season

HPCL, BPCL, IOC: Will petrol, diesel price cut derail rally in OMCs?

Shares of OMCs have rallied around 50 per cent in the last two months on the back of strong Q2 earnings. Can a fuel price hike derail the rally? Here's what the chart suggests.

Petroleum Ministry has given nod to import Venezuelan crude: Officials

Puri says India open to importing from any country not under sanctions

Stock of this OMC has zoomed 54% in 5 weeks; trades at over five-year high

Shares of HPCL surged 10 per cent to Rs 378.80, its highest level since March 2018 on the BSE in Monday's intra-day trade on the back of heavy volumes.

Nifty hits new all-time high: Here's a look at stocks that drove the rally

Nifty hits fresh record high: Since September 15, automobile and energy linked stocks have outperformed the markets

OMCs extend post earnings rally; HPCL, BPCL, IOCL soar up to 39% in 1-mnth

For OMCs, FY24 is turning out to be the best year in terms of earnings, despite the upcoming general elections, according to analysts.

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.

OMCs to prepare joint roadmap on green hydrogen push, to tap cleaner fuel

Move to better map and service demand for green hydrogen beyond captive use for oil refineries

UK approves new North Sea drilling, delights industry but angers critics

British regulators on Wednesday approved new oil and gas drilling at a site in the North Sea, a move environmentalists say will hurt the country's attempt to meet its climate goals. The UK's North Sea Transition Authority said it had approved the Rosebank Field Development Plan, which allows the owners to proceed with their project. Britain's Conservative government argues that drilling in the Rosebank field, northwest of the Shetland Islands, will create jobs and bolster the UK's energy security. One of the largest untapped deposits in UK waters, Rosebank holds an estimated 350 million barrels of oil. The field is operated by Norway's Equinor and the UK firm Ithaca Energy, which say they plan to invest $3.8 billion in the first phase of the project. The field is expected to start producing in 2026-2027. Green Party lawmaker Caroline Lucas called the decision to approve drilling morally obscene. Energy security and cheaper bills aren't delivered by allowing highly subsidized, ...

Boiling crude dry up chance of price cuts from oil marketing companies

Price of Indian crude basket hits 14-month high of $93.5 on September 21

Oil marketing companies likely to feel the heat of high crude oil prices

RIL a likely beneficiary of higher refining margins; ONGC and Oil unlikely to see major change in estimates

Rising crude, uncertainty ahead of elections keep analysts wary on OMCs

Analysts say the already weakening marketing margins will be a concern ahead as the fate of OMCs remains tied to uncertain crude prices and the inability to raise prices amid the coming elections

Commercial LPG cylinder price cut by Rs 100, domestic stays same

A 19 kg LPG cylinder will cost Rs 1,680 in Delhi, Rs 1640.50 in Mumbai, and Rs 1,805.50 in Kolkata