Oil stocks rally; BPCL, HPCL, IOC hit 52-week highs
Among other state-owned OMCs, Oil India, GAIL (India), ONGC shares surged up to 4% amid strong volume trade.
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HPCL bags gas supply order from ONGC Petro Additions
The oil company has secured an order from ONGC Petro Additions Ltd (OPaL) for supply of natural gas to their mega petrochemical complex at Dahej.
Indian Oil to invest ₹61,077 cr to set up petchem complex in Odisha
This mega project will be the largest-ever investment of Indian Oil at a single location, which will improve the petrochemical intensity index of the company
Mahanagar Gas shares hit 52-week high on acquisition of Unison Enviro
The company will acquire 100% stake in Unison Enviro, the city gas distribution arm of Ashoka Buildcon, for ₹531 crore.
Brent crude hits a month low, but petrol, diesel prices remain steady
Brent crude oil price has fallen 9.2% in the last two days to $78.01 per barrel, the lowest level since December 12, 2022.
HPCL gets board nod to raise ₹10,000 cr via debt; stock down 3%
The board of HPCL has given the approval to raise up to ₹10,000 cr via debt market to fund its oil refining and fuel marketing operations.
India offers over 2.4 lakh sq.km of land and sea for oil and gas E&P
About 36 blocks in these regions are estimated to have an oil and gas resources potential of 1,775 metric million tonnes of oil equivalent (MMTOE).
Adani’s Gas Expert
Suresh P. Manglani transformed Adani Gas from a regional to a pan-India player with India’s biggest city gas pipeline network.
BPCL readies for energy transition with 6 strategic focus areas
The state-owned oil company plans to achieve net zero carbon emissions by 2040 and to invest ₹1.4 lakh crore in the next five years
HPCL, BPCL, IOC shares fall up to 6%; here's why
HPCL, BPCL, IOC reported a combined loss of ₹18,480 crore in the June quarter due to a decline in the margin on petrol, diesel, and domestic LPG in the backdrop of rise in international crude prices
