Saturday, May 14, 2022
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FY21: Indian Oil posts over two-fold rise in profit in Q3 & April-Dec period on inventory gains

Due to higher inventory gain and higher petrochemical margin during Q3, Indian Oil has posted an over two-fold rise in net profit

ONGC to double efforts to increase capex spending to make up for time lost due to COVID-19

ONGC plans to double its efforts to make up for the time lost due to the COVID-19 pandemic and stay close to the targeted capex of Rs 32,500 crore

HPCL posts nearly 3-fold increase in PAT in H1 FY21, but revenue dips 24%

State-run HPCL has recorded a nearly three-fold rise in Profit after Tax (PAT) for the April-September period at Rs 5,291 crore

Oil PSUs have spent only a third of their capex in H1 of FY21: Ministry data

State-run OMCs have spent nearly a third of their capex target for the current financial year, with ONGC Videsh being the fastest and Indian Oil being the slowest

IOC refineries operating at 93%; fuel demand likely to reach pre-COVID level in 2 months: CMD

Indian Oil’s refineries are operating at 93% capacity and will be ramped up gradually as the fuel demand reaches pre-COVID levels in a couple of months, said IOC CMD

Govt resets domestic natural gas price to historic low of $.179 per mmBtu

The Centre has reset the price of domestic natural gas to $.179 per mmBtu for the period starting October 1 to March 31 under its pricing low

Natural gas production in India remains loss-making, say ratings agencies after price cut

With the Centre announcing a price cut, rating agencies declared that natural gas production in India remains a loss-making proposition for most fields

NHAI awarded highest length of road projects worth Rs 31,000 cr during FY2020-21

As per NHAI, in the April-August period, it has awarded 26 projects of 744-km length and a total capital cost of over Rs 31,000 crore

Fitch expects India’s electricity demand to drop by 4% in FY2020-21

Fitch Ratings has said in its latest report that it expects India’s electricity demand to drop by 4 percent during the current financial

GAIL records 80% drop in PAT in Q1 FY2020-21 at Rs 256 crore

GAIL (India) Limited has posted a decline of 80 percent in Profit after Tax (PAT) for Q1 of FY2020-21 as the figure settled at Rs 256 crore

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