
BPCL announces ₹49,000 cr capex for Bina refinery expansion; stock dips
Co to implement an ethylene cracker project at Bina Refinery; to setting up two 50 MW wind power plants; and petroleum oil lubricants, lube oil base stock installations
Co to implement an ethylene cracker project at Bina Refinery; to setting up two 50 MW wind power plants; and petroleum oil lubricants, lube oil base stock installations
India's public sector oil companies will set up 7,432 public fast charging stations across the country.
India's windfall tax on exports of locally-produced oil has helped reduce the state-owned refining and marketing companies' marketing losses, says Moody's.
OMCs such as IOCL, BPCL, and HPCL are likely to swing back to the black, thanks to sharp narrowing of marketing losses on retail fuels and steady GRMs.
State-run oil marketing companies have booked a combined loss of ₹27,276 crore in the first six months of the ongoing financial year, says Union minister Hardeep Puri.
India is investing $40 billion in gas pipelines, LNG terminals and exploration & production to meet net-zero emission goal by 2070.
Shares of ONGC, HPCL, and IOC rose up to 1%, while Adani Total Gas, Reliance Industries, and BPCL fell up to 1% on the BSE.
Between the April and June quarter this year, these three OMCs posted a combined loss of ₹18,480 crore.
LIC's current market cap stands at ₹3.9 lakh crore, a huge fall from ₹6 lakh crore on its listing day, eroding investors’ wealth by around ₹2.1 lakh crore.
The Sensex and Nifty are poised to open lower on Wednesday, in line with global equities as investors remain concerned about a potential global recession.