July 2024 – Page 2 – Oil & Petroleum Industry News

ONGC Invites Applications From Retired Executives To Fill 79 Consultant Posts

Oil and Natural Gas Limited (ONGC) is inviting online applications for Junior and Associate Consultants for the Surface team. This department has released vacancies for several disciplines like Production, Electrical, Mechanical, Instrumentation and Chemistry. The period of the job will be only for one year.ONGC has released a total vacancy of 79 seats. The job only requires retired ONGC executives. Interested candidates can apply for the post before June 23. The application form can be…
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Source: https://www.news18.com/amp/education-career/ongc-invites-applications-from-retired-executives-to-fill-79-consultant-posts-8955768.html

‘BPCL is not for sale’, confirms Oil Minister Hardeep Singh Puri; here’s why

State-run oil marketing company Bharat Petroleum Corporation Ltd (BPCL) will not be privatised, India’s Oil and Petroleum Minister Hardeep Singh Puri said.
“Decision made: India’s energy Maharatna BPCL is not for sale! (sic),” Puri posted on social media platform X (formerly Twitter) on July 5. “BPCL is making almost as much profit in a single year than the price it was supposed to be sold for,” he added.
Puri, along with the post, shared a video where he could be heard explaining why the…
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Source: https://upstox.com/news/business-news/latest-updates/bpcl-is-not-for-sale-confirms-oil-minister-hardeep-puri-here-s-why/article-100009/

Petrol and Diesel Prices in Chennai Unchanged for 112 Days!,Chennai petrol prices, Chennai diesel prices, Current petrol price in Chennai, Current diesel price in Chennai, Chennai fuel prices July 2024, Petrol price today in Chennai, Diesel price today in Chennai, Unchanged fuel prices Chennai

In Chennai, petrol and diesel prices have remained unchanged for the past 112 days. Currently, one litre of petrol costs Rs 100.75, while a litre of diesel is priced at Rs 92.34.Oil companies determine the daily pricing of petrol and diesel based on the global crude oil prices and the…
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Source: https://www.livechennai.com/detailnews.asp?catid=16&newsid=71430

Bye-bye diesel, hello CNG: Conversion complete, ‘green’ boats on Ganga to cut down on pollution

Over 800 diesel engine-operated boats have been converted to CNG-powered craft in Varanasi by GAIL (Gas Authority India Ltd) in order to end pollution caused by the diesel engines. A diesel-engine boat on the Ganga in Varanasi, which was converted to CNG. (HT Photo) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The conversions began in February 2021 and were completed in March 2024. Your wishes helped India win- Relive India’s epic…
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Source: https://www.hindustantimes.com/cities/others/byebye-diesel-hello-cng-conversion-complete-green-boats-on-ganga-to-cut-down-on-pollution-101720184427424-amp.html

Buy or sell: SBI, Marico and ONGC — Sumeet Bagadia recommends these three stocks to buy on Monday – MSN

Buy or sell: SBI, Marico and ONGC — Sumeet Bagadia recommends these three stocks to buy on Monday MSNBuy or sell: SBI, Marico and ONGC — Sumeet Bagadia recommends these three stocks to buy on Monday | Stock Market News MintMarket Trading Guide: Hindustan Zinc, TVS Motor among 5 stock recommendations for Friday – Stock Ideas The Economic TimesTrade Spotlight: How should you trade ICICI Bank, Zomato, Sun Pharma, Firstsource, Lupin, and others on… MoneycontrolStocks to buy and sell on…
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Source: https://www.msn.com/en-in/money/markets/buy-or-sell-sbi-marico-and-ongc-sumeet-bagadia-recommends-these-three-stocks-to-buy-on-monday/ar-BB1pv6Dd

Tea Tribes Protest: Tea Tribes Protest Against Proposed Shift Of Oil Depts & Garden Land Sale | Guwahati News

Dibrugarh: The Assam Tea Tribes Students’ Association (ATTSA) organised a mass protest in front of the Oil India Limited (OIL) HQ in Duliajan on Friday, highlighting a range of pressing demands and concerns. Central to the protest was the issue of potential relocation of three crucial departments of OIL — accounts payable , contract and procurement and HR — from Duliajan to Guwahati and Noida. ATTSA also spoke out against the sale of tea garden lands for commercial purposes. It said…
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Source: https://timesofindia.indiatimes.com/city/guwahati/tea-tribes-protest-against-proposed-shift-of-oil-depts-garden-land-sale/amp_articleshow/111526273.cms

Petrol pumps partially shut in KP – Pakistan

PESHAWAR: Likewise other parts of the country, petroleum dealers on Friday observed a partial strike in Peshawar and some other cities of the province against the imposition of the advance tax in the budget for next fiscal year 2024-25.

Despite the call given by the petroleum dealers association for the strike, not all petrol pumps in Peshawar went closed.

The call for a country-wide shutter down was given by Pakistan Petroleum Dealers Association against advance income tax imposed in the…
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Source: https://www.brecorder.com/news/40311480/petrol-pumps-partially-shut-in-kp

Q1 Results Preview: OMCs to report weak quarter on low margin; GAIL, Petronet LNG to lead oil & gas pack

Q1FY25 Results Preview: Most oil and gas companies will likely report a weak first quarter in the current fiscal year (Q1FY25) due to poor margins, apart from gas majors GAIL and Petronet LNG, which could lead the pack. The rising administrative price mechanism (APM) shortfall and full impact of price cuts would impact gross margins for city gas distributers (CGDs), as per analysts.

ONGC Videsh to raise USD 800 million from 3 banks

Mumbai: ONGC Videsh Ltd (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corp. (ONGC), is raising $800 million through a five-year loan from three domestic banks, people familiar with the matter said.The loan is likely to be priced at 120 basis points above the three-month international benchmark Secured Overnight Financing Rate (SOFR), the people said.”Three banks, state-owned Bank of Baroda (BoB), private sector Axis Bank and Singapore-based DBS Bank are the mandated lead…
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Source: https://m.economictimes.com/industry/banking/finance/banking/ongc-videsh-to-raise-usd-800-million-from-3-banks/amp_articleshow/111522549.cms

Budget 2024: L&T to Oil India, D-Street expert suggest four stocks ahead of Modi 3.0’s first Union Budget

Budget 2024: Finance Minister Nirmala Sitharaman is set to unveil the newly-elected Modi 3.0 government’s first Union Budget 2024 later this month. The upcoming budget is likely to be an extension of the interim budget presented earlier this year in February 2024. The market sentiment has turned bullish since June-end after foreign inflows resumed in Indian markets and also as investors priced in…
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Source: https://www.livemint.com/market/stock-market-news/budget-2025-from-l-t-to-oil-india-d-street-experts-list-four-stocks-that-benefit-most-from-modi-3-0s-first-union/amp-11720185050967.html