Hindustan Copper has announced said its standalone net profit has nearly doubled to Rs 16.8 crore in the third quarter ended December 31, 2016.
Tag: refining
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State-run oil firms pay Rs 150 bn as subsidy for June quarter
The three state-run oil companies have paid Rs 15,000 crore as subsidy to public sector oil marketing companies (OMCs) for the Apr-Jun 2013 quarter. Of the Rs 15,000 crore, Oil and Natural Gas Corporation (ONGC) paid around Rs 12,300 crore, Oil India Rs 2,000 crore, and GAIL Rs 700 crore. It may be recalled that of the total under-recovery incurred by state-run OMCs, 40 percent is shared by the gov
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Finance ministry to decide on oil ministry’s proposal
Union finance ministry will decide on the proposal of petroleum ministry to use Rs 1,000 crore from the the Oil Industry Development Board (OIDB) fund for setting up a proposed insurance fund. The oil ministry proposed to set up a fund to provide insurance to local refining companies that use Iranian crude oil as re-insurance companies from West
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Net profit of IOC rises 14.53% in March quarter
Net profit of Indian Oil Corporation (IOC) rose 14.53 per cent to Rs 14,513 crore during January-March 2013 compared to Rs 12,671 crore in the year-ago period. The rise in profit is attributed to the higher subsidy amount it received from the government for selling petroleum products below the market price
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Net profit of RIL rises 6% in FY13
The standalone net profit of Reliance Industries (RIL) rose 6 percent in 2012-13 on a year-on-year (y-o-y) basis to Rs 21,003 crore, while its revenue rose 9.2 percent to Rs 3.71 trillion. The company attributed the growth in earnings largely to strong and improved refining margins during the year
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Private refiners reduce export to cater to domestic demand
Reports suggest that private sector oil refining firms like Essar Oil have reduced export of diesel recently in order to cater to the rising demand in the domestic market. Diesel is used in the industrial, agricultural and transport sectors in the country. For example, Essar Oil has reportedly offered only one d
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Refining segment dominates RIL’s earnings
The operating profit or Ebit (earnings before interest, tax) of Reliance Industries (RIL) from refining and marketing rose 115 per cent to Rs 3,615 crore during October-December 2012 from the year-ago period. But the company's Ebit margin from oil and gas declined 54 per cent to Rs 590 crore against Rs 1,294 crore in the corresponding previous quarter. The petr
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NRL plans to expand refining capacity
Numaligarh Refinery (NRL), a subsidiary of Bharat Petroleum Corporation (BPCL) plans to expand its refining capacity from 3.0 million metric tonne per annum (mn tpa) to 8-9 mn tpa at Golaghat in Assam. The company is also considering options of sourcing and transporting the additional crude oil through a pipeline.
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Fall in refining margins may hurt oil firms
Many brokerages feel that the margins of Indian refiners may come under pressure because of a decline in the Singapore benchmark refining margin.If the margins remain at the current level in the remaining part of this quarter, margins of companies like Reliance Industries (RIL), Essar Oil and public sector firms like Bharat Petroleum (BPCL), Hindustan Petro
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An eight-pronged approach
Essar, now a multinational conglomerate, began its operations with the construction of an outer breakwater in Chennai Port (the then Madras Port) in 1969.
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