Oil Sector

Buy or Sell? How to trade Reliance, ONGC, OMC shares amid Russian oil ban

Crude Oil prices have soared 7% in the last two weeks following fresh US sanctions on Russian oil imports. Back home, shares of oil exploration and marketing companies look favourably placed on charts

Energy assets in focus as India bolsters security amid border tensions

Key oil, natural gas infra located along west coast in Gujarat and Maharashtra

Uncertain tides in oil: India's gains tempered by multiple export risks

Expectations of higher supply and lower demand were already visible in the price movements for crude oil over the past weeks

Upstream oil companies return to Andaman Sea, dig offshore wells

Oil India, ONGC hope to strike it big this time

Dealers seek revision of fuel transport tenders after stricter PNGRB rules

Fuel dealers are responsible for carrying fuel to retail outlets on tankers leased from OMCs

Oil and the war, 3 years on: Russia reshapes global energy dynamics

The war provided Prime Minister Narendra Modi's government with an opportunity to reinforce India's strategic autonomy by resisting Washington's pressure to sanction Russia

Aramco CEO expects additional oil demand of 1.3 mn bpd this year

Oil demand this year will approach 106 million barrels per day after averaging about 104.6 million barrels per day in 2024, he said

Unlocking potential: India's path to a robust petrochemical industry

With a market size of $220 billion, the Indian chemicals and petrochemicals sector contributes about 6 per cent to the GDP and provides employment to over 5 million people

Will oil sector growth lead to more capex for underfunded ministry

The petroleum sector contributed Rs 4.32 trillion to the Central exchequer by way of taxes, royalties, and dividends, among others, and Rs 3.19 trillion to the states in 2023-24

IOC pact gives us access to 37K retailers, 13K LPG distributors: Maini

This partnership allows us to access IOC's 37,000 retail outlets and 13,000 LPG distributors, and they have a very strong brand presence, he says

Govt abolishes windfall tax on crude oil, ATF, petrol, and diesel exports

The govt has withdrawn the Road and Infrastructure Cess on petrol and diesel exports to ease financial pressure on the oil sector

Subsidies to oil & gas sector reduce 85% to $3.5 bn in 10 years: MNRE

Subsidies to the oil & gas sector saw a reduction of 85 per cent from a peak of USD 25 billion in 2013 to USD 3.5 billion by 2023, according to an official note on Monday. Since 2010, India has steadily reformed its fossil fuel subsidies, adopting a "remove, target, and shift" approach, the Ministry of New and Renewable Energy (MNRE) said. The ministry said, as per a report of Asian Development Bank (ADB), structured approach, including adjusting retail prices, tax rates, and subsidies on select petroleum products collectively reduced fiscal subsidies in the oil and gas sector by 85 per cent from a peak of USD 25 billion in 2013 to USD 3.5 billion by 2023. "A significant step in this journey was the gradual phasing out of petrol and diesel subsidies, coupled with incremental tax hikes. These reforms created fiscal space for greater government support in renewable energy initiatives, electric vehicles, and critical electricity infrastructure," it said. From 2014 to 2017, tax ...

IOCL reports Q2 net loss of Rs 169 crore as refining, marketing margins dip

Higher expenses, lower sales pulled down revenue to Rs 1.98 trillion

BPCL Q2 FY25: Net profit plunges 72% to Rs 2,297 crore on higher expenses

Puts up to Rs 18,000 cr worth rights issue plans on hold

Of ships and tankers: India, refiners not breaking international sanctions

A US official involved in compliance said 'General Licence 93' allowed India to receive vessels owned by a sanctioned entity, Russian state behemoth Sovcomflot, which ships the bulk of India's oil

Oil giant Chevron sells assets worth $6.5 bn to Canadian Natural Resources

The all-cash transaction, which is expected to close in the fourth quarter, is a part of its strategy to divest $10 billion to $15 billion of assets by 2028

ONGC Q1 FY25 results: Net profit declines 15% to Rs 8,938.10 crore

India's largest crude oil and natural gas producer wrote off Rs 1,669.73 crore cost incurred in unsuccessful survey and drilling of wells to find oil and gas

Vedanta gets secured creditors' nod for demerger into six companies

Agarwal tried unsuccessfully to take Vedanta private in 2020, his latest attempt to trim down parent company's debt last year by getting its unit, Hindustan Zinc, to buy some of firm's zinc assets

Indian Oil Q1FY25 results: PAT plunges 81% to Rs 2,643 cr on low margins

IOC's average gross refining margin - the profit from making refined products from one barrel of oil - fell to $6.39 per barrel from $8.34 per barrel a year ago

BPCL divestment completely off the table, says Hardeep Singh Puri

Says OMCs can consider pump price cut if global prices stay at $75-80 per barrel