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State-owned oil marketing companies – Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation – reported a healthy year-on-year growth in consolidated net profits for the quarter ended December owing to healthy marketing margins. The profit after tax (PAT), however, declined sequentially for all the three companies due to inventory losses which impacted gross refining margins.
OMCs are likely to report a healthy YoY growth in their net profits for…
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GAIL Share Price Target 2024: The PSU stock is in focus as the company posted multi-fold increase in consolidated net profit in Q3. GAIL Share Price History, GAIL Dividend 2024 Record Date, GAIL Dividend History – check hereGAIL share price target 2024: BUY PSU stock! Sharekhan says growth outlook strong – check dividend history, yield (Pic: Canva/ET NOW News) Subscribe for latest updates Unsubscribe for latest updates GAIL Share Price Target 2024: GAIL (India) shares are in focus post…
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MRPL’s VC Tongaonkar set to be next Director (Finance) of ONGC New Delhi: Vivek Chandrakar Tongaonkar is set to be the next Director (Finance) of Oil & Natural Gas Corporation Limited (ONGC), a Mahartana PSU under the Ministry of Petroleum & Natural Gas (MoPNG). He has been recommended for the post by the Public Enterprises Selection Board (PESB) panel on Wednesday. Presently, he is serving as Director (Finance) & Chief Financial Officer, Mangalore Refinery & Petrochemicals Limited…
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Jamshedpur, Jan 31: Bharat Petroleum has inaugurated the provision of free nitrogen air at all BPCL outlets in the city, providing customers with the facility at petrol pumps. Debasish Nayak (Chief Retail Eastern Region) initiated the launch at the Bharat Petroleum pump in Kadma, hoisting the green flag and releasing balloons to mark the occasion. He announced that free nitrogen air would be available at all Bharat Petroleum pumps in the…
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Source: https://avenuemail.in/free-nitrogen-air-provision-at-jamshedpurs-bpcl-outlets/
Guwahati, Jan 31 (PTI) LPG cylinder transporters of Indian Oil Corporation on Wednesday went on an indefinite strike for the second time in less than two months, alleging pending dues and low rates in recently floated tenders. An IOC official, however, termed the strike as illegal. The decision to go for the shutdown was taken after a meeting called by the Food, Public Distribution & Consumer Affairs Department of Assam between IOC and the North East Packed LPG…
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Source: https://www.theweek.in/wire-updates/national/2024/01/31/cal44-ne-lpg-ld-strike.amp.html
Press Information Bureau PIBNTPC, NRL sign MoU to explore bio-refinery, green projects ETEnergyWorldNTPC, Numaligarh Refinery ink pact to explore green chemical projects MoneycontrolNTPC inks pact to partner Numaligarh Refinery in green projects Daijiworld.comNRL and NTPC signs MoU for Biofuels development PSU Connect
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Source: https://pib.gov.in/PressReleasePage.aspx?PRID=2000826
Fuel prices are expected to go up marginally, beginning tomorrow February 1, 2024, the Institute for Energy Securities has stated.
This is due to a marginal increase in the price of finished petroleum products and the depreciation of the cedi.
Whilst the price of petrol and Liquefied Petroleum Gas will go up by 2% that of diesel will also increase by 3%.
“In the coming days, consumers going to the pumps are likely to see the…
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Source: https://www.myjoyonline.com/petrol-diesel-and-lpg-prices-to-go-up-marginally-from-february-1-2024/
The Chinese transformation of Hong Kong is almost complete
As Westerners are leaving, professionals from the mainland are taking their place. Hong Kong overtook Switzerland to become the world’s largest cross-border financial centre last year, as a result of the inflow of Chinese wealth. All of this further emphasizes the city’s dependence on China, and its transformation into another mainland…
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Source: https://www.moneycontrol.com/
ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of liquefied natural gas (LNG) to India’s largest Natural Gas Company, GAIL (India) Limited.
This is pursuant to a memorandum of understanding (MoU) dated 30 October 2022 between GAIL and ADNOC Gas.
Under this agreement, the deliveries will commence from 2026 onwards for a duration of 10 years, across India.
Gas consumption in India would rise to over 500mcm/d by 2030…
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Probal Sen, VP Equity Research, ICICI Securities, says “for ONGC and Reliance, earnings growth will continue to be very strong. Reliance very clearly, with the multiple levers of growth from retail, from the improvement that is expected by our telecom team in Jio in terms of tariffs, as well as subscriptions, the momentum that they continue to show in the retail business, we believe that EPS can continue to grow for a company even on this very high base at about 15% CAGR over the next…
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