The board has approved proposal to buyback 10 crore shares, which represents 6.56% equity share, at ₹250 per share.The buyback price is at premium of 34% to HPCL stocks’ closing price on 4 November. On Wednesday, HPCL’s scrip on NSE closed 0.83% higher at ₹187.20.HPCL’s standalone net profit more than doubled during the September Read more

  They have spent a combined Rs 31,956 crore in the six months through September 2020, 32.4 percent of the capital expenditure of Rs 98,522 crore targeted for H1/FY21. Indian Oil Corporation (IOC) has has spent only 28.6 percent of its planned capex of Rs 26,233 crore. The company is managing multiple projects, including product Read more

  Nayara Energy, a new-age integrated downstream energy company, signed a tripartite memorandum of understanding (MOU) with the Foundation for Innovation & Technology Transfer (FITT), IIT-Delhi and Gexcon to further progress development and implementation of process safety and risk management standards in the manufacturing industry. The MOU will enable Nayara Energy to advance its operational Read more

  Dinesh Kumar Sarraf, chairperson of the Petroleum and Natural Gas Regulatory Board, said the agency was working on examining the feedback from stakeholders on introducing a unified gas pipeline tariff structure, one of the most closely watched gas reform initiatives pursued by New Delhi. “We have got a lot of feedback on various issues Read more

Ahmedabad- After facing opposition for its proposed transportation tariff for the city gas distribution (CGD) network, the Petroleum and Natural Gas Regulatory Board (PNGRB) is facing further push back from top CGD companies of the country who allege that the proposed regulation for open access in the sector sidesteps those who have already invested heavily Read more

  New Delhi- At least two out of the five petroleum products, including aviation turbine fuel or ATF and natural gas, are likely to be among the first set of petro products to be included in the Goods and Services Tax (GST) fold ahead of an earlier agreed schedule. Sources said that the prospect of Read more

  MRPL has shown a strong performance in Q2FY21 and the question is whether the company is expected to repeat the performance going forward. In an exclusive chat with Zee Business Managing Editor Anil Singhvi, the Mangalore Refinery and Petrochemicals Limited (MRPL) Managing Director (MD) M. Venkatesh said that the robust results are on the Read more

  SINGAPORE: Middle East crude benchmarks Oman and Dubai rebounded on Monday after China, the world’s top crude oil importer, said it would raise its non-state crude oil import quota for 2021 by 20% on-year to 243 million tonnes.   The first batch of China’s crude imports quota will be issued to qualified companies before Read more

  The country’s second largest oil marketing firm Bharat Petroleum has upgraded its bunkering facility with five jetties that can now pump the oil into ships from the pipelines at the Marine Oil Terminal on the Butcher Island, off the east coast of the city.   BPCL is the largest supplier of bunkering oil with Read more

    India is gearing up to become a major player in seaborne oil demand, offering a valuable boost in the tanker market. In its latest weekly report, shipbroker Gibson said that “like most nations, Indian oil demand has come under considerable pressure in 2020 as covid-19 derailed the country’s continual demand growth. Nevertheless, the Read more

    NEW DELHI: State-run Solar Energy Corporation of India (SECI) may call bids for setting up green hydrogen plants, said two people aware of the development.   Green hydrogen is a next generation fuel, with gas produced through electrolysis from water by using electricity generated through non-greenhouse gas (GHG) producing energy sources such as Read more

    If you are Liquefied Petroleum Gas (LPG) gas cylinder subscriber? Have you been getting your LPG cylinder home-delivered? Please take note of this new rule that implies from today. From today (November 1), customers will be required to furnish a one-time password (OTP) to get their LPG Cylinders home delivered. Oil companies will Read more

    India’s oil import bill may fall further in the remaining period of the current fiscal with Saudi Arabia looking at giving discount in crude it sells to Asian Buyers. Analysts tracking the development said that the benchmark Dubai prices of oil have fallen and so have the gross refining margins. If this holds, Read more

OUSTON: Energy firms shut two-thirds of offshore U.S. Gulf of Mexico oil production, turned off undersea pipelines and evacuated workers as Hurricane Zeta raced toward a strike on the U.S. Gulf Coast.   Zeta intensified to a Category 2 hurricane on the Saffir-Simpson scale at midday on Wednesday. It was churning toward the coast at Read more

  Tech giant IBM on Thursday said it has collaborated with Indian Oil Corporation Ltd (IOCL) to transform the latter’s customer experience using digital tools. Around 12,400 IOCL distributors covering about 130 million consumers can now use the IndianOil One mobile app and portal, developed by IBM Services, a statement said.   The IndianOil One Read more