Asia’s petrol margin fell to more than a two-year low late last week due to ample supplies, and the October average is now expected to be the worst for the month since 2013, based on Thomson Reuters data.
India’s biggest company, Reliance Industries Ltd (RIL), has reported 0.3 percent rise in quarterly profit. Reliance, controlled by India’s richest man, Mukesh Ambani, said its second-quarter profit for the quarter ended September 30 was Rs 9,516 crore.
Saudi Arabia has assured OPEC that it is “committed, capable and willing” to ensure there will be no shortage in the oil market, OPEC’s secretary-general said on Wednesday.
Billionaire Sajjan Jindal’s JSW Energy is no longer interested in acquiring bankrupt Monnet Power, a senior company executive told CNBC-TV18 on Thursday. Monnet Power, which owns and operates coal fired thermal power plant in Odishs
Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy.
Oil companies have asked for an additional Rs 12,000 crore liquefied petroleum gas (LPG), kerosene subsidy, sources told CNBC-TV18. The current demand by the oil companies in terms of additional compensation comes as the prices of the subsidised LPG cylinders have gone up quite a bit.
Oil prices inched up on Friday, with investors trying to gauge the potential impact on supply from looming US sanctions on Iran’s crude exports.
Fuel prices continued their ascent, rising for the second consecutive day, with petrol inching towards a record high of Rs 91 a litre in Mumbai.
Japanese banker SoftBank’s plan to build solar parks in a tie-up with IL&FS Energy has fallen through and no joint venture is in sight, reported Business Standard.
A high level panel for power sector is meeting today for the second time to discuss the framework and the contours of the resolution plan to address stressed thermal power assets.