Oil Marketing Companies

TKIL Industries on Tuesday said that it has acquired a stake in Swiss company Sohhytec SA, which will give it access to a technology for producing green hydrogen directly from solar energy. TKIL, formerly known as Thyssenkrupp Industries India, can produce pressurised hydrogen and also set up the infrastructure which will be required to store and fill up vehicles, the company's chief executive Vivek Bhatia said. "We are already in conversations with OMCs (oil marketing companies) and we are giving our first proposals on what a hydrogen based retail facility will look like," Bhatia said. Automobile companies have already created the necessary engines to make it possible for vehicles to run on hydrogen, Bhatia said, pointing to a particular model commercially launched by a Japanese automaker and added that heavy vehicles will also benefit from its usage. Declining to disclose the stake bought in the Swiss company or the money invested for buying exclusive rights for the technology in

Puts up to Rs 18,000 cr worth rights issue plans on hold

No change in pump prices announced by oil marketing companies

The decision came after a communication from the Ministry of Petroleum and Natural Gas, which said that no funds had been earmarked for capital support to Oil Marketing Companies in the 2024-25 Budget

Projected capacity increases aim to address domestic energy needs and enhance global supply

Centre may not push OMCs to cut retail prices before elections, says Motlal Oswal

Brent crude price today: Analysts prefer aviation and tyre stocks among the lot, but remain cautious on paints and oil marketing companies

The government last cut petrol and diesel prices by Rs 2 per litre, ahead of the general elections in March 2024

Public sector oil marketing firm BPCL on Friday said it has set up a biofuel blend High Flash High-Speed Diesel (HFHSD) bunker at Mumbai Port. The facility, the first-of-its-kind by an OMC in the country, provides shipping companies with a cleaner, biodegradable alternative to traditional fuels, Bharat Petroleum Corporation Ltd (BPCL) said in a statement. This initiative not only supports environmental sustainability but also strengthens BPCL's position as a leader in the Indian bunkering market, it added. It also aligns with the global mandate to decarbonise the shipping sector apart from one of many green initiatives by the company, BPCL said. "Our Project Aspire, with its focus on green energy, is driving our efforts towards a cleaner future. This biofuel blend bunker is a significant step in that direction and positions BPCL as a global bunkering leader," said Sukhmal Jain, Director (Marketing) at BPCL. The company's foray into biofuel blends is part of a broader strategy to .

According to HPCL, India's ambitious goal of expanding road connectivity, manufacturing, and construction activities is expected to support economic growth and further drive oil consumption in India.

Originally announced as a Rs 30,000 crore fund in Budget 2023, the fund was never disbursed

Oil & Gas stocks outlook: Indraprastha Gas and Mahanagar Gas are awaiting a breakout from a narrow trading band, show technical charts.

Oil marketing companies in talks with Russia for long-term deal, say officials

Indian Oil, Hindustan Petroleum, and Bharat Petroleum are negotiating with Brazilian energy major Petrobras to secure long-term crude oil supply contracts to diversify its energy sources

Commercial LPG cylinder prices for July have been further cut by Rs 30, after being reduced by Rs 70 in June. Its aimed at providing relief to enterprises in the food and hospitality industries

The boards of directors of HPCL, and BPCL are scheduled to meet on Thursday, May 9, 2024 to consider bonus issue plan

According to reports, Egypt has revived stalled negotiations between the Israel-Hamas for a ceasefire agreement, thereby pushing crude oil prices lower.

OMCs have raked in record Rs 69K cr net profit in first 9 months of FY24

In past three days, shares of OMCs have declined between 8 - 12 per cent on concerns that recent petrol and diesel price cut could hurt the companies' profit margins in the near-term.

Market wrap on March 15, 2024: Mahindra & Mahindra was the major loser among auto stocks, down 5%; Among others shares of oil marketing companies declined up to 6 per cent post fuel price cut.