Page 4 - Oil And Gas

Warnings in the Ukraine story for countries captured by oligarchs

While the oligarchs have played fast and loose, Ukraine remains by far the poorest of the ex-Soviet economies of Europe, writes T N Ninan

Oil ministry seeks review of windfall tax; wants certain fields exempt

The oil ministry has sought a review of the two-and-a-half-month old windfall profit tax on domestically produced crude oil saying it goes against the principle of fiscal stability provided in contracts for finding and producing oil. The ministry in the August 12 letter, reviewed by PTI, sought exemption for fields or blocks, which were bid out to companies under Production Sharing Contract (PSC) and Revenue Sharing Contract (RSC), from the new levy. It stated that companies have been since the 1990s awarded blocks or areas for exploration and production of oil and natural gas under different contractual regimes, wherein a royalty and cess is levied and the government gets a pre-determined percentage of profits. The ministry, according to the letter, was of the opinion that the contracts have an in-built mechanism to factor in high prices as incremental gains get transferred in form of higher profit share for the government. Emails sent to the oil ministry as well as the finance ..

Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar

As global prices soar, another committee to review gas pricing policies may find the going more challenging

Bias negative for MCX Crude Oil; Natural Gas may slide below Rs 500-mark

The bias for MCX Crude Oil September futures is likely to favour the bears as long as the commodity trades below Rs 7,170; For MCX Natural Gas futures the key support range of Rs 630 - Rs 620.

'Ask Siemens Energy', says Gazprom on resumption of Nord Stream 1

Gazprom on Friday said the Nord Stream 1 pipeline, Europe's major supply route, would remain shut as a turbine at a compressor station had an engine oil leak, sending wholesale gas prices soaring.

India's shaky energy security and growing dependency on foreign fuels

New Delhi is yet to announce a comprehensive and detailed policy across the energy spectrum to tackle this very real threat to economic growth

Vedanta not to prune $2-bn capex target for FY23: CEO Sunil Duggal

Oil-to-metals conglomerate Vedanta Ltd on Wednesday said that it will not prune its USD 2 billion capex target for the current financial year despite falling metal prices. Vedanta has planned a total investment of around USD 2 billion in its zinc, oil and gas, and aluminium businesses in FY23. "We are going ahead (with the capex target for the current fiscal). We cannot stop the project in between and these are all the brownfield projects where the returns are very good and this will make our operation more effective, more productive, more efficient," Vedanta's Chief Executive Officer Sunil Duggal said. Duggal told reporters here on the sidelines of the second day of the conference on the Indian minerals and metals industry organised by NMDC and FICCI. The metal prices, Duggal said, have come down on account of various geopolitical events. Asked whether the metal prices will shoot up in the coming days, he replied, "If the fundamentals are strong than naturally the prices are goin

ONGC's net profit surges 3x to Rs 15,206 crore in June quarter

Revenue from operations increased to Rs 42,320.72 crore in the first quarter of the current financial year from Rs 23,021.64 crore in the year-ago period.

India's bet on gas-based economy runs into Ukraine war challenges

As the Ukraine-Russia conflict pushes up prices and Europe outbids South Asia for scarce supplies, billions of dollars in domestic gas infrastructure investment are at risk

TMS Ep207: Nirmala Sitharaman, GST in 5 years, oil & gas stocks, Web 5.0

How does the FM see economic recovery panning out? What are the hits and misses of GST in five years? Are RIL & ONGC worth your money after govt's export duty levy? What is Web 5.0? All answers here

Germany on 'gas alarm', sees long-term supply shortages: Report

The Nord Stream pipe, already operating at just 40 per cent of normal levels, will be offline for works on July 11-21, tightening a market that's seen prices soar in recent weeks

Does reputation no longer matter for today's companies and politicians?

In today's practical age, whether a country offends your religious sensibilities can be overlooked if it is a key customer for your gas or oil, writes T N Ninan

European gas prices surge after fire in US compounds Russia supply concern

Benchmark futures traded in Amsterdam snapped a six-day falling streak, while UK prices soared as much as 39% before paring gains

ONGC's nominee director appointment on HPCL board stuck in paperwork

For over five months now, Oil and Natural Gas Corporation (ONGC) has had no representative on the board of Hindustan Petroleum Corporation Ltd

TMSEp185: Economic revival, Ronojoy Dutta, IndiGo & SpiceJet, windfall tax

Is the Indian economy out of the woods? What is CEO Ronojoy Dutta's take on IndiGo's performance? Is there turbulence ahead for IndiGo & SpiceJet? What's 'windfall tax' on oil cos? All answers here

What is windfall tax on oil companies?

Crude oil price is rising. As the burden on people's pocket is increasing, experts are suggesting one-time 'windfall tax' on companies that have profited from the price rise. What is 'windfall tax'?

Has sanctioning Russia worked? Oil, gas sales put $285 bn in Putin's pocket

For years, Russia has acted as a vast commodity supermarket selling what an insatiable world has needed: Not just energy, but wheat, nickel, aluminum and palladium too

Centre puts oil pipeline monetisation on hold as PSUs resist: Report

According to a report, the oil and gas companies had resisted the idea from the beginning as pipelines are core to their business

Do not see govt slapping windfall tax amid soaring energy prices: ONGC

ONGC reported bumper profits in Q4 (when international prices soared to a near 14-year high of $139 per barrel) and record earnings in 2021-22, triggering talks of the govt slapping a windfall tax

Firms to submit bids for third round of discovered small fields on May 31

Majority of the investments in OALP and DSF blocks are set to come up in the coming years