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November,15,2018,Thursday

WEEKLY NEWSLETTER ON OIL AND GAS FROM ACROSS THE MEDIA SPACE

RIL Q2 Consolidated Net Rises 12.5% To Rs 8,109 Cr; Jio's Loss At Rs 271 Cr

RIL Q2 Consolidated Net Rises 12.5% To Rs 8,109 Cr; Jio's Loss At Rs 271 Cr

Buoyed by higher margins from its core refining and petrochemical businesses, oil-to-telecoms conglomerat Reliance Industries today reported a 12.5% increase in second-quarter consolidated net profit at Rs 8,109 crore as compared with last year’s figure of Rs 7,206 crore.

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Petroleum Products Should Come Under GST: Sushil Modi

Petroleum Products Should Come Under GST: Sushil Modi

Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the Group of Ministers (GoM) to look into the technical issues of GSTN, today said petroleum products should be brought under the Goods and Services Tax.

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Brazil To Ramp Up Oil Production Before 'renewable Era' Hits -official

Brazil To Ramp Up Oil Production Before 'renewable Era' Hits -official

Brazil plans to boost oil exploration and production to seize on its reserves before the world enters the "renewable era" and other technologies hurt demand for the fossil fuel, Deputy Energy Minister Paulo Pedrosa told Reuters on Wednesday.

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Import Of Oil-drilling Rigs Kept Out Of GST Purview

Import Of Oil-drilling Rigs Kept Out Of GST Purview

Import of oil-drilling rigs has been exempted from the goods and services tax (GST) levy to give a boost to domestic exploration and production, the government has said. The GST Council has also cut tax rate on bunker fuel to 5% from 12%.

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Global Crude Oil Price Of Indian Basket Was US$ 54.79 Per Bbl On 10.10.2017

Global Crude Oil Price Of Indian Basket Was US$ 54.79 Per Bbl On 10.10.2017

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 54.79 per barrel (bbl) on 10.10.2017.

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Maharashtra Cuts VAT By Rs2 On Petrol, Rs1 On Diesel Per Litre; Calls It ‘Diwali Gift’

Maharashtra Cuts VAT By Rs2 On Petrol, Rs1 On Diesel Per Litre; Calls It ‘Diwali Gift’

Petrol will be cheaper by Rs2 and diesel by Re1 per litre across Maharashtra from Tuesday midnight after the state government reduced the value-added tax (VAT) on the fuels.

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Tripura Toughest For Gas Exploration With Best Success Ratio: Top ONGC Official

Tripura Toughest For Gas Exploration With Best Success Ratio: Top ONGC Official

Despite Tripura being the toughest zone for gas exploration in the world, the success ratio here is the best, a top ONGC official said.

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Saudi Arabia Cuts November Oil Allocations, But Exports To Rise

Saudi Arabia Cuts November Oil Allocations, But Exports To Rise

Saudi Arabia has cut crude oil allocations for November by 560,000 barrels per day (bpd), an oil ministry spokesman said on Monday, in line with the kingdom's commitment to an OPEC-led supply reduction pact.

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Videsh

Haven't Heard From Iran On USD 11 Billion Offer For Gas Field: ONGC Videsh

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), on Monday said it hasn't heard from Iran on the USD 11 billion 'best offer' it gave for developing the Farzad-B gas field.

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Secretary General

India Is The Future Of Energy Demand, Says OPEC Secretary General

India is future of energy demand, Secretary General of Organisation of the Petroleum Exporting Countries (OPEC) Sanusi Mohammad Barkindo said on Sunday.

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