Shares of Indian oil & gas producing companies surged this Monday as the higher crude oil prices improved revenue expectations. However, shares of oil marketing companies dipped on concerns higher crude prices may hamper their profitability. For full story, click here
IndianOil announced inauguration of Paradip-Haldia crude oil pipeline system at Paradip. For full story, click here
As crude prices revolve around four-year lows, the Indian government may look at cutting diesel prices further that will help cool inflation. For more information, click here
State-run refiner Indian Oil Corporation will begin selling 10 billion rupees of oil bonds on Thursday, two sources close to the transaction said on Wednesday. For full story, click here
A special report by Fitch highlighted the squeeze in margins faced by some Asian downstream oil and gas companies such as Indian Oil Corporation and Sinopec. Steve Durose, Regional Co-Head of Fitch’s Asia-Pacific energy and utilities team, said: The financial performance of Indian Oil Corporation, Sinopec and CPC Corporation, has suffered significantly over the last two years [...]
The Indian crude oil basket rose $1.56 a barrel to $115.87 (about Rs 5,050) on Friday due to sharp increases in global crude oil prices. For full story, click here
The government of India may impose a cap on the revenues of oil producing companies like ONGC, OIL, Reliance Industries and Cairn. For full news, click here
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