Foreign exchange gains, lower interest coupled with inventory gains have helped Indian Oil Corporation Ltd post a nine-fold jump in net profit for the first quarter of the current fiscal. For full story, click here
India’s Mangalore Refinery and Petrochemicals Ltd will import 50 percent more crude from Abu Dhabi National Oil Co. in the fiscal year ending March. For full story, click here
India’s Mangalore Refinery and Petrochemical Ltd has aimed to process at least 12.4 million tonnes of crude oil in the fiscal year ending March 2010, Managing Director U.K. Basu told reporters on Thursday. For full story, click here
Petroliam Nasional Bhd has sought to slash its expenditure by 30% from the amount it spent in its 2006 fiscal year. President and CEO Tan Sri Mohd Hassan Marican stated: There must be shared misery. We must have a hard look at costs. For full story, click here
The government declared that it may reimpose the duty on crude oil imports, its biggest source of Customs revenue before the levy was scrapped last year, as it looks for fresh revenue streams to rein in mounting fiscal deficit. For full story, click here
Indian refiner Bharat Petroleum Corp will continue to purchase crude from Iran this fiscal year at 250,000 tonnes, its chairman declared on Tuesday, dismissing earlier reports that it may stop the purchase. For full story, click here
State-owned Oil India Ltd, or OIL is expecting net profit to surge almost 12% to Rs2,000 crore for the fiscal ended 31 March on record crude oil output. For full story, click here
India’s crude oil import bill rose 12.6 per cent to $76.6 billion in 2008-09 as the international oil prices climbed to an all time-high during the first half of the fiscal. For full story, click here
The Centre for Monitoring Indian Economy reported that crude oil output is likely to climb by 4.8 per cent touching 36.14 million tonnes in the next fiscal, riding on the back of oil production by Reliance Industries from its KG D6 wells coupled with capacity addition by other private and joint venture firms. For full [...]
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