Crude prices remained subdued early on Friday after an agreement by OPEC to extend existing supply curbs disappointed many who had hoped for larger cuts.
State-run Hindustan Petroleum Corporation (HPCL) has reported a 31 per cent rise in net profit at Rs 1,818.79 crore in the fourth quarter (Q) of the financial year (FY) 2016-17, as against Rs 1,387.91 crore during the same period in FY16.
Oil and Natural Gas Corporation, the state-owned oil and gas explorer, recorded a 6.54 percent drop in net profit at Rs 4,340 crore for the quarter ended March 2017 on account of higher expenses which rose a whopping 47 percent.
With the commissioning of the third unit of the 3×660 MW Prayagraj Super Thermal Power Project (PSTPP), Bharat Heavy Electricals Limited (BHEL) has successfully executed the 1,980 MW coal-based supercritical thermal power project in Uttar Pradesh.
China and India overtake US at top of renewable energy attractiveness index
India has moved up to the second spot this year, from the third spot for the last two years, in this year’s ‘Renewable energy country attractiveness index’, said a report released by EY globally.
India’s oil marketing companies today cut petrol price by Rs 2.16/litre and diesel by Rs 2.10/litre tracking the weakness in global crude oil prices in the trailing fortnight and the corresponding fall in the prices of the Indian crude basket.
Solar power tariffs in India have fallen to a new record low of Rs 2.44 per unit in the just concluded bidding for Bhadla Phase-III Solar Park in Rajasthan, power, coal, renewable energy and mines minister Piyush Goyal said.
India Shows The Way To The World In Fight Against Climate Change,
Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal presided over the launch of World’s largest efficient lighting programme, UJALA – UK (UK Joins Affordable LEDs for All) by Energy Efficiency Services Ltd. (EESL) in London, United Kingdom today.
Indian Oil Corporation Limited (IndianOil) has launched an ambitious digital platform to dramatically enhance the quality of customers’ experience.
Exclusive Opinion Piece : Has Saudi Arabia abandoned its role as a Swing Producer?, Asks Manish Vaid
Given its own economic conditions and plans for upcoming Saudi Aramco’s IPO next year Saudi Arabia cannot escape its role as swing producer, even though unwittingly.
The resilient U.S. shale output and sluggish demand from American drivers have kept U.S. stockpiles at historically high levels making efforts of OPEC and non-OPEC to cut oil production a futile exercise. These developments has forced experts to rethink about Saudi Arabia’s role as a ‘Swing Producer’ in rebalancing the oil markets. This article therefore explore the current oil market scenario alongside evaluating if actually Saudi Arabia has abandoned its role as a Swing Producer.