World Bank boosts 2017 crude oil forecast to $55 per barrel

World Bank boosts 2017 crude oil forecast to $55 per barrel

The World Bank raised its crude oil price forecast for 2017 to $55 a barrel on Thursday from $53 a barrel, as it expects an output agreement among the Organization of the Petroleum Exporting Countries (OPEC) to help trim excess supply.

RIL’s Second Quarter Net Profit Down 23% to Rs. 7206 crores

RIL’s Second Quarter Net Profit Down 23% to Rs. 7206 crores

Billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) announced a 23% fall in its net profit at Rs 7,206 crore for the second quarter ended September 30, 2016 as against Rs 9,345 crore in the same period a year ago. The last year Q2 profit was higher on the back of income from sale of RIL’s US shale gas assets.

Cabinet approves revision of ethanol price for supply to state-owned Oil Marketing Companies

The Ethanol Blended Petrol (EBP) Programme was launched by the Government in 2003 which has been extended to the Notified 21 States and 4 Union Territories to promote the use of alternative and environment friendly fuels. This intervention also sought to reduce import dependency for energy requirements.However, since 2006, OMCs were not able to receive offers for the required quantity of ethanol against the tenders floated by them due to various constraints like State Specific issues, Supplier related issues including Pricing issues of ethanol.

Cabinet approves revision of ethanol price for supply to state-owned Oil Marketing Companies

The CCEA has approved the mechanism for revision of ethanol price for supply to state-owned OMCs) for smooth implementation of their Ethanol Blended Petrol (EBP) Programme. It has been decided that for the next sugar season 2016-17 during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered price of ethanol for the EBP Programme will be Rs.39/- per litre.

Dharmendra Pradhan Dedicates To The Nation HPCL Green R&D Centre at Bangalore

The Centre currently has a dedicated team of over 80 scientists. The centre is recognized by The Department of Scientific and Industrial Research (DSIR) and has collaborations with research institutes in India and abroad.

Dharmendra Pradhan Dedicates To The Nation HPCL Green R&D Centre at Bangalore

Union Minister of State (I/C) for petroleum and natural gas Dharmendra Pradhan dedicated the new Green R&D Centre of state-owned HPCL in Devengunthi, Bengaluru to the nation on 14th October, 2016.