Diesel the culprit of India's oil demand growth in 2024: OPEC
In the first six months of 2024, the country's oil demand is projected to expand by an average of around 250 thousand barrels per day year-on-year.
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OMCs Face Crude Shocks
State-owned oil marketing companies bore the brunt of high oil prices and suppressed marketing margins in FY23. Cheap Russian supply and softer crude oil prices may change the script in FY24.
ONGC plans to invest ₹1 lakh cr to set up petrochemical plants; stock hits 52-week high
ONGC shares have risen more than 50% from its 52-week low of ₹132.95 touched on November 22, 2022.
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.
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).
