In a step towards creating a world class automobile and ancillary manufacturing hub in Mandal-Becharaji taluka of Ahmedabad District, a pipeline to supply natural gas has been commissioned by Ace Pipeline.
Category: Oil & Gas
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L and T arm bags Rs 1,100 crore contract from IOC
Larsen and Toubro Hydrocarbon Engineering has said that it has bagged orders worth Rs 1,100 crore from IOC for its Bongaigaon refinery in Assam.
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Centre agrees to pay Rs 6,320 crore as oil royalty to Assam
The Centre has agreed to pay Rs 6,320 crore to the Assam government as crude oil royalty as part of an out-of-court settlement after eight years of protracted legal battle.
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Bahri expands India presence with new Mumbai office
Bahri, a global leader in logistics and transportation, has opened a new office in Mumbai to strengthen its presence in the fast-growing Indian maritime industry and lay the foundation to offer diverse shipping services to domestic customers.
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Petronet LNG Q3 net up 133percent at Rs 397 crore
Petronet LNG Ltd has more than doubled its net profit to Rs 397 crore in the third quarter ended December 31 as it handled record volumes of imported gas.
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HPCL Q3 net up 53percent at Rs 1,590 crore
Hindustan Petroleum Corporation Ltd (HPCL) has reported a 53 per cent rise in net profit for the October-December 2016 quarter owing to better operational performance. For the December 2016 ended quarter, HPCL's net profit was Rs 1,590.31 crore, 53 per cent higher from Rs 1,041.25 crore reported last year.
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GAIL Q3 net profit up 46 per cent
GAIL has posted a 46 per cent rise in third-quarter profit aided by a boost in the petrochemicals business.
Profits rose to Rs 983 crore in the October-December quarter from Rs 676 crore a year ago. Sales fell 9 per cent to Rs 12,294 crore on a drop in natural gas sales. The revenue from natural gas marketing dropped by 20 per cent to Rs 9,414 crore and profit fell 38 per cent to Rs 300 crore in the quarter.
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Essar Projects wins contract for laying gas pipeline from Jalandhar to Amritsar
Essar Projects, a leading EPC (Engineering Procurement & Construction) company, has announced that it has won a contract for a 100-km pipeline from GSPL India Gasnet Ltd. (GIGL).
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Deepak Premnarayen, President, Indian Merchants Chambers
The Budget is likely to continue its pro-poor image with a slew of concessions for agriculture, skilled labour and the rural sector, along with incentivisation to move to a digital payment economy. Employment-related incentives are likely to go up considerably.
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HPCL, GAIL sign pact with AP for Rs.40,000-crore petro project
HPCL and GAIL India Ltd have signed a pact with Andhra Government for setting up a Rs 40,000 crore petrochemical plant in the state. The 50:50 joint venture will set up a 1.5 MT ethylene derivatives plant, which will produce a wide range of petrochemical raw materials for the manufacture of detergents, paints and coatings, cosmetics, textiles and adhesives.