Oil Firms

Foreign oil majors flag windfall tax concerns; govt seeks $52-bn investment

India is the world's third-biggest oil importer and consumer and meets almost 85 per cent of its oil requirements from overseas

Budget 2023: Oil companies will spend Rs 1.06 trn in next financial year

Nearly half of overall expenditure would be for refineries expansion and upgrade while about 44% will be used for exploration and production of hydrocarbons, the data provided in the budget documents

Indian, European oil firms evaluating bids for Guyana blocks: Report

Refiner Indian Oil Corp also is looking to work in Guyana in collaboration with ONGC Videsh

CAG says 3 state-owned oil firms ignoring own software for logistics

National auditor says state-owned companies make monthly adjustments that aren't best for saving costs, efficiency

ONGC Q2 profit tumbles 30% to Rs 12,826 crore on windfall tax woes

Profit fell 15.6 per cent over the preceding June quarter when it had reported a net of Rs 15,205.85 crore

Why India may have to rework Russian oil purchase if a price cap is imposed

India will have to follow a delicate balancing act if the West imposes a pricing limit on supplies from Moscow

Windfall tax: Relief for product exports, not for upstream crude, says Citi

Petrol and diesel prices are down by $40-50 per barrel from month-ago levels

8 bn rubles of Indian oil companies stuck in Russia, says officials

All dividend income prior to Ukraine war was repatriated but the one that accrued after that is stuck, said Harish Madhav, Director (Finance), Oil India Ltd, which is one of the partners in the fields

Cabinet note issued for 100% FDI in oil PSUs marked for disinvestment

Cabinet approval would facilitate privatisation of India's second biggest oil refiner Bharat Petroleum Corp Ltd.

Consolidation in public sector oil firms may be back on table in FY22

The government may again revive the plan for further consolidation in the public sector oil companies

Govt expects global oil majors will join race for $6.5-bn BPCL sale

India seeks to boost spending to help Asia's third-biggest economy shake-off the pandemic-fueled downturn

Copper near 7-year high as investors regain nerve; gold and oil firm up

Benchmark copper on the London Metal Exchange (LME) traded up 0.5 per cent at $7,784.50 a tonne in official rings, nearing Friday's peak of $8,028, its highest since 2013

Fitch expects marketing, refining volume of oil firms to fall 15% in FY21

With lockdowns pummelling fuel demand in India, Fitch Ratings expects the marketing and refining volume of oil firms to fall by over 15 per cent this fiscal year before a gradual recovery in FY22

Saudi firms start talks to form $11 billion chemicals maker; shares surge

The discussions are at an initial stage and no agreement has been reached, the companies said Sunday

Oil refiners shut plants fearing lost demand may never come back

Consumption has not returned to pre-pandemic levels and lower travel may be here to stay, leading to the possibility plants may shut permanently

As Exxon Mobil is removed from the Dow, is this the end for Big Oil?

It's not the first time that there's only been one oil and gas company in the Dow

India state-owned refiners halt oil imports from Chinese companies: Report

Refiners stop sending crude import tenders to Chinese trading firm like CNOOC, Unipec and PetroChina, among others

Shareholders of big oil to 'drown' in cash as firms shift to renewables

"Shareholders will be drowned in capital paid back by energy majors in the next 20 years," Rystad Energy said

Air India owes Rs 5,000 crore in dues, didn't pay for 2 years: Oil firms

National carrier cancels one flight, reduces load on seven others after OMCs pare supplies at six airports

Brief case: Foreign oil survey firms to pay tax

SC confirmed that foreign oil exploration firms are liable to pay income tax as mobilisation charges