BUSINESS
MC Explains | How RIL became India’s largest bio-energy producer and what does it mean?
Reliance Industries has commissioned its first commercial-scale compressed bio-gas plant at Barabanki in Uttar Pradesh in 10 months, Chairman Mukesh Ambani said at the AGM.
BUSINESS
ONGC commits Rs 2 lakh crore investment for net-zero transition by 2038
Chairman Arun Kumar Singh said Rs 1 lakh crore would be required by 2030 to achieve multiple green initiatives and another 1 lakh crore would be spent by 2038.
BUSINESS
RIL’s O2C business energy transition plan in place, will remain profitable: Ambani
RIL Chairman Mukesh Ambani said the key pillars of O2C transition would be accelerating the company’s journey to achieve net carbon zero by 2035 through use of renewables and bioenergy for a sustainable and green business
BUSINESS
Reliance AGM 2023: RIL is now India’s largest bio-energy producer, says Ambani
At the group's 46th annual general meeting (AGM), Ambani said Reliance has commissioned the first commercial-scale compressed biogas (CBG) plant at Barabanki in Uttar Pradesh in 10 months
BUSINESS
BP working with Reliance to develop EV charging infrastructure in India: CEO
BP Chief Executive Officer Bernard Looney charging infrastructure is going to be critical for India to not just achieve net zero goal by 2070 but also for energy independence goal by 2047.
BUSINESS
Indian Oil aims to increase its share in India’s energy pie to 12.5% by 2050: Chairman
Chairman Shrikant Vaidya has said Indian Oil is committed to achieving net-zero operational emissions by 2046, aiming to mitigate both Scope 1 &2 emissions, with an investment plan of $30 billion
BUSINESS
GAIL targeting capex of Rs 30,000 crore in next 3 years: Chairman
The capex would be mainly used on pipelines, ongoing petrochemical projects, CGD projects, operational capex and equity contribution in group companies, said Chairman Sandeep Kumar Gupta at the company’s annual general meeting.
BUSINESS
High natural gas prices to cool after Australian workers’ stoppage is resolved: Analysts
Gas prices have increased over supply worries amid apprehension of a workers’ strike in Australia. Energy experts said that the spike is temporary and prices would moderate after the conflict was resolved.
BUSINESS
Domestic crude oil production rises 2.1% to 2.5 MMT in July: Oil Ministry
According to Petroleum Planning and Analysis Cell (PPAC), ONGC registered production of 1.62 MMT in July, whereas Oil India Limited produced 0.28 MMT
BUSINESS
Global companies looking to fund projects in India on anticipation of growth: Mahanagar Gas MD
The rapidly urbanising Indian landscape will need huge infrastructure, and more energy in coming years. Energy consumption is going to increase in India compared to countries like the US and the UK and this makes him bullish on India, says Ashu Shinghal, Managing Director of Mahanagar Gas Limited.
BUSINESS
Supply cuts by oil producing countries to keep crude prices elevated: Analysts
Crude oil prices have gained momentum since July after Saudi Arabia, the world’s largest producer of crude oil, slashed supply by additional 1 million barrels per day (bpd). Crude prices are trading above $85 per barrel in recent weeks.
BUSINESS
ONGC Q1 results: Consolidated net profit soars 102% to Rs 17,383 crore
However, the oil and gas explorer's standalone net profit tanked 34 percent to Rs 10,015 crore in the quarter, from Rs 15,206 crore in last year
BUSINESS
NMDC Q1 net profit increases 13% to Rs 1,661 crore
Net profit of country’s largest iron ore producer and exporter was Rs 1,661 crore in the quarter, compared to Rs 1,471 crore in the same quarter last year.
BUSINESS
Prospects for healthy fundamentals in second half of 2023 to ensure global oil market stability: OPEC
OPEC said the outlook for oil market fundamentals improved further in July, which was reflected in the strengthening of the market structure as major oil futures prices turned to a firm backwardation structure
BUSINESS
India’s ability to compete with US incentives for green hydrogen will be critical: Bain & Company
In particular, Brian Murphy said the role India plays in the global supply chain of green hydrogen, including electrolyser manufacturing, as well as the broader supply chain, would be important.
BUSINESS
Oil India Q1 net profit up 4%, revenue tanks 22%
The net profit of the oil and gas explorer was Rs 1,613.4 crore, compared to Rs 1,555.5 in the same period last year.
BUSINESS
CGDs expected to perform better amid soft prices, higher demand
Mahanagar Gas Ltd is expected to post stronger volume growth because of Maharashtra State Transport’s plan to add 800 new buses, higher conversion run rates of CNG, and stronger price competitiveness compared to alternate fuels
BUSINESS
Indian Oil chairman's tenure extended by a year
The Appointments Committee of the Cabinet approved the proposal of the Ministry of Petroleum and Natural Gas for Shrikant Madhav Vaidya's tenure extension
BUSINESS
Reliance forecasts healthy oil demand on the back of steady economic growth
New supply from upcoming refining capacities in Middle East, China and Africa will likely keep the market balanced, the company said.
BUSINESS
RIL targets affordable green hydrogen as clean fuel alternative: Mukesh Ambani
Reliance Industries’ first ever green hydrogen production was achieved with firing of torrefied biomass in gasifiers in 2022-23.
BUSINESS
Mahanagar Gas Q1 net profit doubles to Rs 368 crore
Revenue from operations marginally increased to Rs 1,690 crore in the quarter, compared to Rs 1,593 crore in the same period last year.
BUSINESS
State-run refiners post combined profit of Rs 32,147 crore as marketing margins improve
In the first quarter of the previous financial year, they posted losses due to record-high crude oil prices amid geopolitical tensions
BUSINESS
HPCL Q1 results: Net profit comes in Rs 6,765 crore; revenue dips marginally
HPCL Q1 earnings: Revenue from sale of products marginally declined to Rs 1.18 lakh crore in Q1FY24, as against 1.21 lakh crore in the same period last year
BUSINESS
Gujarat Gas Q1 results: Net profit tanks 43% to Rs 216 crore
Gujarat Gas Q1 results: The gas distribution company's revenue declined 26.2 percent to Rs 3,924 crore
