Oil Companies

The story behind how it unfolded shows how American oil executives’ usual cordial relationships were pushed to the breaking point when a $1 trillion discovery was at stake

Shell says not in discussion with rival oil firm BP for takeover: Report

The deal, if done, would have been the largest corporate deal this year, according to WSJ

Oil CEOs back Trump’s energy agenda as crude hits fresh low

The hallways and sessions on the first day of the annual CERAWeek by S&P Global conference in Houston were filled with buzzy chatter and the vibes of an industry that’s looking forward to an upswing

Oil ministry's allocation in Budget 2025 rises 11% from last year

Budget 2025: The government granted Rs 12,100 crore to the oil marketing companies for liquified petroleum gas subsidy in the Union Budget 2025, compared to Rs 14,700 crore (RE) received for the fiscal 2024-25

Oil PSUs' capex rises 30% YoY in Apr-Nov 2024 amid increase in energy projects

In the April to November 2024 period, the oil PSUs spent Rs 97,667 crore from the annual target of Rs 1,06,401 crore

Oil cos hike commission paid to petrol pump dealers; no change in fuel prices

Petrol and diesel prices will, in fact, fall in states such as Odisha, Chhattisgarh, and Himachal Pradesh due to a rationalisation of intra-state freight.

Indian oil companies await $300-$400 million dividends from Russia amidst sanctions

Indian companies including ONGC, Oil India, BPCL and Indian Oil have stakes in Russian oil and gas projects.

Will taxing the windfall profits of oil giants fix countries’ economies?

Energy suppliers are benefiting from an unexpected bonanza because of Europe’s sudden move away from Russia’s gas and oil after its invasion of Ukraine, as opposed to any savvy strategy by the companies themselves.

In the Amazon, a UN agency has a green mission, but dirty partners

Even as the United Nations sounds the alarm on climate change and calls for a dramatic reduction in fossil fuel consumption, its development arm at times serves as a cheerleader for the oil and gas industry.

Fuel retailers talking of under-recoveries on petrol, diesel: Oil Minister Hardeep Singh Puri

Oil Minister Hardeep Singh Puri said fuel retailers have knocked on the doors of the government seeking 'relief' but hastened to add that pricing is their decision.

IBM, Amazon partner to extend reach of data tools for oil companies

Amazon in 2018 worked with Royal Dutch Shell to create a technology to turn data from more than a century of oil production, largely from paper records, into a standardized format for multinational oil companies to improve efficiency across their operations.

Oil companies defer decision to suspend fuel supplies to Air India

The three state-owned oil companies - Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) - had earlier this month threatened to snap aviation turbine fuel (ATF) supplies to Air India at six major airports over payment delays.

OMCs in focus as HSBC hikes target price for IOC, BPCL & HPCL

Citi is of the view that OMCs now offer an attractive investment opportunity. Cheap valuations relative to historicals make it an attractive buy, it said

Major oil producers to consider production cuts after price slide

Oil prices shed a fifth of their value in just one month after surging to a four-year high in early October

'ONGC bought GSPC gas field stake for half the asking price of Rs 20k cr, replacement cost'

Former ONGC chairman DK Sarraf said the acquisitions is "strategic and of immense value proposition".

IOC, ONGC, Oil India may buyback shares worth Rs 10,000 crore due to govt pressure

ONGC’s buyback is expected to be of about Rs 4,800 crore, Oil India’s Rs 1,100 crore and IOC may acquire 3 percent of its shareholding valued at Rs 4,000 crore

PM Modi to brainstorm oil scenario with global CEOs

The third annual meeting would also deliberate on ways to revive investment in oil and gas exploration and production, official sources said

State-owned oil companies spend 20% of yearly capex target in Q1

PSU oil and gas companies have already spent Rs 17,544 crore in the June quarter, almost a fifth of their total planned capex for the entire year

Government gives nod to add 25,000 petrol pumps

Currently, state-run companies operate around 57,000 filling stations while the private players run around 6,000.

Government to announce long-term solution to oil prices shortly, says DEA Subhash Garg

The government, which had said it is looking at long-term solutions to the price hikes, is currently studying how oil prices are likely to behave to finalise a solution and is expected to come out with a plan for the long term.

India sees scope for more integration among state energy companies

India wants to build bigger oil companies to better compete with global energy giants and withstand oil price volatility through integration of state-run oil firms.

Daily fuel price revisions to boost OMCs' bottomlines

Government decision to revise retail fuel prices daily is likely to result in improvement marketing margins for oil companies leading to better profitability, says a report.

NGT asks oil companies to stop plying BS-I, BS-II vehicles in NCR

A bench headed by NGT Chairperson Justice Swatanter Kumar ordered Indian Oil Corporation Limited, Bharat Petroleum Corporation Ltd and Hindustan Petroleum to immediately ban such vehicles.

ONGC will gain strength, be $100 bn entity post merger: Experts

As per recent reports, one proposal is for upstream giant ONGC to acquire retail major HPCL for Rs 44,000 crore. Energy expert Narendra Taneja believes that the merger will help ONGC gain more strength and will become a USD 100 billion plus company.