Oil stocks tank up to 8% after cut in petrol, diesel prices; HPCL, BPCL, IOCL, GAIL, ONGC lead fall
OMCs have slashed petrol and diesel prices across the country by ₹2 per litre for the first time in two years since April 2022.
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OMCs Face Crude Shocks
State-owned oil marketing companies bore the brunt of high oil prices and suppressed marketing margins in FY23. Cheap Russian supply and softer crude oil prices may change the script in FY24.
HPCL shares are rallying for 10th straight session; here’s why
HPCL shares have gained nearly 26% in the last ten sessions, inching close to its 52-week high of ₹309.85 touched on July 26, 2023.
India Inc.’S Corporate Scorecard
Companies overcome global headwinds and domestic challenges to ride the growth train.
HPCL ties up with Petromin Corporation to install 5,000 EV charging units
In total, the corporation will be investing $700 million in partnership with HPCL in three strategic areas
Rising petrochemicals supply in India to reduce import demand: Moody's
Indian state-owned oil and gas companies are investing significantly to increase capacities to boost the country's petrochemical supply.
Oil stocks rally; BPCL, HPCL, IOC hit 52-week highs
Among other state-owned OMCs, Oil India, GAIL (India), ONGC shares surged up to 4% amid strong volume trade.
HPCL bags gas supply order from ONGC Petro Additions
The oil company has secured an order from ONGC Petro Additions Ltd (OPaL) for supply of natural gas to their mega petrochemical complex at Dahej.
Oil stocks up as govt cuts windfall tax on petroleum cude to zero
Levy on petrol, diesel, and aviation turbine fuel has been kept unchanged at zero
Govt sanctions ₹800 cr for oil PSUs to set up charging stations under FAME II
India's public sector oil companies will set up 7,432 public fast charging stations across the country.
