The oil ministry has directed state oil firms to prepare a roadmap for creating integrated firms. Oil secretary Kapil Dev Tripathi held a short meeting with the chairmen of state oil firms last week and asked them to submit their respective plans for integration within weeks
According to the data released by the Petroleum Planning and Analysis Cell (PPAC), in the April-February period these companies spent Rs 91,781 crore as capex. The amount spent has been the highest since 2014-15.
We got the cabinet approval for dilution of our stake by 24 per cent the day before. This is a joint venture between Indian Oil Corporation and Lubrizol Corporation of USA
The Cabinet today approved sale of state-owned Indian Oil Corp’s (IOC) 24 per cent stake in Lubrizol India Pvt Ltd to Lubrizol Corporation, USA for an undisclosed sum.
State-owned oil major ONGC has said the preliminary discussion for its acquisition of India’s third-biggest fuel retailer HPCL has started and is going on at the ministerial level.
Shares of oil marketing companies such as Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation
State-owned Indian Oil Corp (IOC) may drag the Odisha government to court for reneging on its promise to give tax concessions to its Rs34,555 crore Paradip refinery in the state.
Indian Oil Corporation on Wednesday has increased the non-subsidised LPG cylinder prices by Rs 86 for its 14.2 kg cylinder.
In trade and industry, economies of scale help all stakeholders. Companies benefit significantly as they enjoy more bargaining power with vendors and raw material suppliers because they procure in massive quantities.
India’s biggest oil and gas producer Oil and Natural Gas Corporation (ONGC) may acquire the government’s 51.11 percent stake in India’s third-biggest fuel retailer HPCL. This will be followed up with an open offer to acquire additional 26 percent from other shareholders of HPCL. The deal for the 77.11 percent stake would be worth Rs […]