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Post Budget Analysis | OIL & GAS

Post Budget Analysis | OIL & GAS

Provision of revenue expenditure/subsidy for sensitive petroleum products of ~Rs 217 billion for FY2019 and 2018v19 (BE), excluding allocation of new LPG connections to poor families.

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Do or Divest!

Do or Divest!

With a disinvestment target of raising Rs.72,000 crore this fiscal, the government is all set to rule Dalal Street with Rs.18,000 crore worth of Initial Public Offerings (IPOs).

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GAIL Q3 net profit up 46 per cent

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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Indian Oil, GAIL sign MoU for equity stake in Dhamra LNG terminal

Indian Oil, GAIL sign MoU for equity stake in Dhamra LNG terminal

Indian Oil Corporation Limited and GAIL (India) Limited have signed an MoU with Dhamra LNG Terminal Private Limited (DLTPL) for taking equity in the 5 MMTPA capacity LNG receiving, storage and re-gasification terminal being set up at Dhamra Port, Odisha. The agreement was signed in New Delhi in the presence of Minister of State for Petroleum and Natural Gas Dharmendra Pradhan.

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GAIL begins gas supplies to Wanfeng

GAIL begins gas supplies to Wanfeng

GAIL has begun supplying gas to the India unit of the world´s largest automotive aluminium wheel producer Wanfeng Group. Gas supplies to Wanfeng Aluminium Wheels (India) Pvt Ltd´s plant at Rewari in Haryana commenced on June 27, company sources said.

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Delhi-Jaipur CNG Highway commences

Delhi-Jaipur CNG Highway commences

Clean fuel in the form of CNG is now available for vehicles plying from Delhi to Jaipur Highway through the CNG Station at Neemrana and Kukas (near Jaipur) after Rajasthan State Gas Limited (RSGL) started commercial sales on trial run from 26th June through its Mega CNG station at Neemrana, the company said in a statement.

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