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Coming to the rescue of domestic shipowners hit by a dip in business, the Centre is likely to ask public sector oil refiners to extend long-term crude shipment contracts to them.
Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) are set to form a company, Western India Refineries and Petrochemicals, in a month to execute a $40-billion refinery project in Maharashtra. “We are in the process of registering the company. We have applied with the Registrar of Companies. It may be in place within a month,” an executive with one of the oil marketing companies told Business Standard.
The first shipment of American crude oil is likely to reach India in the last week of September, opening new vistas in the Indo–US ties.
Power Minister Piyush Goyal said on Wednesday that India will probably be the first country in the world to use light-emitting diode LEDs for all lighting needs by 2019, which would help the nation save over Rs 40,000 crore a year.
Shares of oil & natural gas major Bharat Petroleum Corporation (BPCL) shed over 2 percent intraday on Monday hitting a low of Rs 472 with research and broking firm Motilal Oswal maintaining a neutral stance while Morgan Stanley has maintained an overweight rating on the stock expecting an earnings turnaround on counter cyclical capacity growth and product quality upgrade.
NEW DELHI, Aug 11 (Reuters) - India's state oil refiners - long focused on churning out transport and cooking fuels - are planning a $35 billion push into petrochemicals to meet an expected surge in demand for goods ranging from plastics to paints and adhesives.
Bengaluru: State-run refiner Bharat Petroleum Corp. Ltd (BPCL) on Friday reported a 72% plunge in first-quarter profit, missing analysts’ estimates.
(Reuters) - State-run refiner Bharat Petroleum Corp on Friday reported a 72 percent plunge in first-quarter profit, missing analysts' estimates.
NEW DELHI (Reuters) - India's state oil refiners - long focused on churning out transport and cooking fuels - are planning a $35 billion push into petrochemicals to meet an expected surge in demand for goods ranging from plastics to paints and adhesives.
Hindustan Petroleum Corp plans to buy low-sulphur oil from the US in the next few months for its 166,000 barrel per day (bpd) Vizag refinery in southern India, company executives said on Friday.
Daily price revision for petrol and diesel has proved to be successful, as most dealers have accepted it, according to D Rajkumar, Chairman & Managing Director of Bharat Petroleum Corporation Ltd (BPCL).
Oil marketing major Bharat Petroleum Corporation Ltd (BPCL) has said that the final commissioning of the expansion project of its Kochi Refinery is expected to happen by the end of August. The company said that it is studying possibilities of setting up an LNG terminal.
Public sector oil marketing company BPCL today said it has increased the commission offered to its dealers upto 50 per cent with effect from August 1 and it would have a positive impact on all, including the customers.
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New Delhi: The government has ordered state-run oil companies to raise subsidised cooking gas (LPG) prices by Rs 4 per cylinder every month to eliminate all the subsidies by March next year, Oil Minister Dharmendra Pradhan said on Monday. The government had previously asked Indian Oil, Bharat Petroleum and Hindustan Petroleum to raise rates of subsidised domestic LPG by Rs 2 per 14.2-kg cylinder per month (excluding VAT).
The implementation of the goods and services tax (GST) has ensured that 2017 would be known as the year of economic reform, Dakshina Kannada MP Nalin Kumar Kateel has said.
Ujjain: Fire erupted at the petrol pump office of Bharat Petroleum in Jharda due to short circuit on Monday afternoon.
Essar Projects India Ltd. (EPIL) has completed installation, testing, and commissioning of the coke drum structure package (CDSP) as part of the ongoing integrated expansion project (IREP) of Bharat Petroleum Corp. Ltd.'s 9.5 million-tonne/year (tpy) refinery near the city of Kochi, at Ambalamugal, Ernakulam district, in the Indian state of Kerala.
Engineering firm Essar Projects on Monday said it has tested and commissioned the coke drum structure package for Bharat Petroleum Corporation's Kochi Refinery (BPCL-KR). This contract is a part of BPCL-KR's integrated refinery expansion project and the contract value of this package is Rs 645 crore, the company said in a statement.
RuhRPumpen, a $350-million Mexican company manufacturing centrifugal and reciprocating pumps, has invested nearly ₹100 crore in a new manufacturing plant near Oragadam.
Bharat Petroleum Corporation Ltd (BPCL) has made its first purchase of US oil, buying high sulphur crudes Mars and Poseidon in a tender.
(Bloomberg) -- Petronet LNG Ltd. sees a lifeline arriving for its loss-making Kochi liquefied natural gas import terminal by 2019 after it boosts capacity use fourfold.
(Bloomberg) -- Poseidon is wading into the battle between U.S. crude and Middle East supplies in the world’s biggest oil market.
MUMBAI and SINGAPORE (Bloomberg) -- Poseidon is wading into the battle between U.S. crude and Middle East supplies in the world’s biggest oil market.