The total operating income of Hindustan Petroleum Corp (HPCL) rose 11 per cent during October-December 2012 period to Rs 53,424 crore. However, the profit of the state-run refiner declined sharply to Rs 147 crore, from Rs 2,725.18 crore in the year-ago period because of a spike in costs and lower com
Tag: Crude Oil
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Crude oil price rises in rupee terms
The depreciation of rupee against the US dollar caused the price of the Indian basked of crude oil to rise in rupee terms even though its price in dollar terms remained steady. The Indian rupee depreciated to Rs 53.68 per $ recently from Rs 53.57 per $ on Feb 8. Following this, the price of the Indian basket of crude oil i
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Crude oil price rises in rupee terms
The depreciation of rupee against the US dollar caused the price of the Indian basked of crude oil to rise in rupee terms even though its price in dollar terms remained steady. The Indian rupee depreciated to Rs 53.68 per $ recently from Rs 53.57 per $ on Feb 8. Following this, the price of the Indian basket of crude oil i
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OPEC slightly revises up oil demand forecast for 2013
The Organization of Petroleum Exporting Countries (OPEC) has marginally revised up the demand forecast for crude oil in 2013 to 89.68 million barrels per day from 89.55 mbd estimated a month ago. Estimated oil demand for 2012 is also revised up to 88.84 mbd from 88.80 mbd estimated in January by the organisation which accounts for about 35.0 percent of glob
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OPEC slightly revises up oil demand forecast for 2013
The Organization of Petroleum Exporting Countries (OPEC) has marginally revised up the demand forecast for crude oil in 2013 to 89.68 million barrels per day from 89.55 mbd estimated a month ago. Estimated oil demand for 2012 is also revised up to 88.84 mbd from 88.80 mbd estimated in January by the organisation which accounts for about 35.0 percent of glob
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Contractors allowed to explore in mining lease
In a move that may boost oil and gas output in the country, the union petroleum ministry decided to allow exploration in mining lease area with cost recovery on establishment of commerciality, the ministry said in an order. Thus, oil companies would be allowed to explore in already producing areas and all approved exploration cos
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Contractors allowed to explore in mining lease
In a move that may boost oil and gas output in the country, the union petroleum ministry decided to allow exploration in mining lease area with cost recovery on establishment of commerciality, the ministry said in an order. Thus, oil companies would be allowed to explore in already producing areas and all approved exploration cos
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ONGC lines up 44 mega projects for 2012-17
Sudhir Vasudeva, Chairman and Managing Director of ONGC informed that the state-run oil and gas explorer would execute 44 mega projects worth about Rs 86,862 crore between 2012-17. Of these projects, 16 would be on-land projects and 28 offshore. Most of the projects are lump-sum turnkey contracts (LSTK)
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Crude oil price rises on strong economic data
International crude oil price rose marginally in recent trading sessions on the back of positive economic data from the US and the Europe. Recent data from the US shows rebound in its serv
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Net profit of Essar Shipping declines
Net profit of Essar Shipping declined to Rs 17.85 crore during Oct-Dec 2012 from Rs 48.65 crore in the corresponding period of last year because of higher costs and low crude freight rates in crude oil transportation. The firm reported revenue of Rs 792.66 crore, EBIT0