BPCL’s consolidated net profit drops 30% in Q4FY24
State-owned Bharat Petroleum on Thursday reported a 30.3% decline in its consolidated net profit for the last quarter of FY24, dropping to Rs 4,789.57 crore from Rs 6,870.47 crore in the same period the previous fiscal due to high crude oil prices impacting refining margins of the company. 

HPCL Q4: Profit down 25%
Hindustan Petroleum witnessed a 25% decline in its consolidated net profit for the last quarter of FY24, dropping to Rs 2,709.31 crore from Rs 3,608.32 crore in the same period the previous fiscal.

IGL net profit up 9% at ₹433 crore in Q4
New Delhi: State-run Indraprastha Gas (IGL) on Tuesday reported a 9 per cent year-on-year (y-o-y) growth in its consolidated net profit at ₹433 crore in Q4 FY24, aided by higher sales. However, the net profit of India’s largest compressed natural gas (CNG) distributor fell 9 per cent on a sequential basis. IGL’s consolidated total income rose 2 per cent y-o-y to ₹4,044 crore in Q4 FY24. Sequentially, income fell 2 per cent.

Reliance renews bid for US license to import Venezuelan oil

Diesel, petrol export revenues dip 20% to $33 bn in 2023-24

Clean and clear: All RRTS stns to have EV charging

NCRTC's first EV charging station operational at Sahibabad RRTS
This step is one of the many measures for ensuring last-mile connectivity, the statement stated, adding that it will allow people to charge their four-wheelers in just one hour using the fast charging facility.

Oil climbs after Saudi Arabia hikes prices

NCRTC's 1st electric vehicle charging station operational at Sahibabad RRTS

New Delhi: The National Capital Region Transport Corporation's (NCRTC) first Electric Vehicle (EV) Charging Station at Sahibabad RRTS station in Ghaziabad has been made operational, a statement said on Sunday.
 

India's fossil fuel capacity grows 2.44% in FY24; non fossil-fuel rises 11%: Govt data
New Delhi: The country's fossil fuel-based power generation capacity increased 2.44% to 243.22 GW in FY24 from 237.27 GW in March 2023, according to official figures. There was a 10.79% rise in non-fossil fuel based capacity (renewable energy sources) addition at 190.57 gigawatt (GW) in 2023-24 over 172.01 GW in 2022-23, the government data showed.

Statiq to set up EV charging stations at wayside facilities of Cube Stop Wayside Amenities
New Delhi: Statiq, a leading electric vehicle (EV) charging network has partnered with Cube Stop Highway Rest Areas, to enhance EV charging infrastructure across highways in the country.

Castrol India Q1 Results Live : profit rise by 6.79% YOY
Castrol India Q1 Results Live : Castrol India declared their Q1 results on 30 Apr, 2024. The topline increased by 2.42% & the profit increased by 6.79% YoY. As compared to the previous quarter the revenue grew by 4.84% and the profit decreased by 10.62%.

Tripura government imposes restriction on sale of petrol, diesel
"In view of the supply constraint of petrol and diesel due to disruption in goods train movement to the state, it has been decided to impose restriction on sale of fuel - petrol and diesel in the state from May 1 until further order", said Additional Secretary of Food and Civil Supplies Department, Nirmal Adhikari.

Share of Russian crude in India's imports rises to nearly 40% in April

Govt cuts windfall tax on crude petroleum to Rs 8,400 per tonne
The government has cut windfall tax on domestically produced crude oil to Rs 8,400 per tonne from Rs 9,600 per tonne with effect from Wednesday.

Petrol sales up 12.3%; diesel slides 2.3% in Apr
New Delhi: India's petrol consumption soared 12.3% in April, but diesel sales continued to slide despite the country entering into hectic electioneering for general elections, preliminary data of state-owned firms showed on Wednesday. Petrol sales of three state-owned firms, which control 90% of the fuel market, rose to 2.97 million tonnes in April compared to 2.65 million tonnes of consumption in the same period last year.

Indian Oil Corporation Q4 Results Live : profit falls by 49.96% YOY
Indian Oil Corporation Q4 Results Live : Indian Oil Corporation declared their Q4 results on 30 Apr, 2024. The topline decreased by 3.06% & the profit decreased by 49.96% YoY.

Indian Oil Corporation to invest INR 5,215 cr in green power

BP appoints Kartikeya Dube as India head
New Delhi: BP on Tuesday announced the appointment of Kartikeya Dube as the new India head, replacing long-time executive Sashi Mukundan who is retiring. In a statement, the company said Dube has been appointed Head of Country (HoC) and senior vice president (gas and low carbon) for India with effect from July 1, 2024.

Indian Oil Corporation Q4 results: Net profit down 52% on year; declares dividend of Rs 7/share; Here are all other details
Indian Oil Corporation in Q4 of FY24 reported a fall of 52% on year in its net profit standing at Rs 4,837.69 crore Vs Rs 10,058.69 crore it posted in the same period a year ago. 

India's oil import bill could swell to USD 101-104 bn in FY25: ICRA
India's net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of USD 7.9 billion in 11 months (April-February) of 2023-24, up from USD 5.1 billion in 2022-23.

BII commits $19 to charge zone for EV infrastructure
Charge Zone has secured a $19 million (Rs. 1.58 crore) commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. This investment marks a milestone in Charge Zone’s mission to revolutionize electric vehicle infrastructure in India.

Indian Oil Corporation to Invest Rs 5,215 cr in green power

India revises windfall tax to Rs 8,400 per tonne, effective May 1

India buys more Russian, less Saudi oil in April

Oil prices steady on Hamas ceasefire talks
Oil prices were little changed on Monday as Israel-Hamas peace talks in Cairo tempered fears of a wider conflict in the Middle East, while U.S. inflation data dimmed the prospects of interest rate cuts anytime soon.

Oil prices fall 1% on Israel-Hamas ceasefire talks, U.S. inflation concerns

India's February oil imports rise amid shifts in global market dynamics
New Delhi: India's total oil import bill surged to USD 13.25 billion in February, marking a 10% increase from USD 12.04 billion in the previous month, despite a slight dip in domestic consumption, according to data from the ministry of commerce and industry.

India's March crude oil imports ease 1.1% from a year ago
India's crude oil imports in March fell by 1.1% from a year earlier to 20.69 million metric tons, government data released on Friday showed.

Oil PSUs' output from overseas fields up a tad