Petrobras and Videocon JVfind more oil in Brazil

Last Updated: Friday, January 9, 2015, 11:58

Brazil`s state-run oil company Petroleo Brasileiro SA and its Indian partners have found more light crude oil in the Sergipe Basin off Brazil`s Northeast coast, according to a securities filing on Thursday.

BPCL to invest over $740 million in petrochemicals push

Last Updated: Wednesday, December 3, 2014, 21:53

Bharat Petroleum Corp on Wednesday said it will invest 45.88 billion rupees ($741.44 million) to diversify into the petrochemicals business, a move that will help the state refiner expand beyond refining and retailing and boost margins.

IOC tops Fortune India 500 list; RIL at second spot

Last Updated: Tuesday, December 10, 2013, 13:47

Indian Oil Corp (IOC) was the biggest with annual revenue of Rs 4,75,867 crore, followed by Reliance Industries (RIL) with a full-year revenue of Rs 4,09,883 crore.

Fitch sees govt pushing Rs 45000-cr oil subsidy to next fiscal

Last Updated: Monday, November 25, 2013, 19:27

The rating agency said out of the oil subsidies allocation of Rs 65,000 crore in the budget for this fiscal, the government has already given out Rs 45,000 crore to pay oil marketing companies for the subsidy gap incurred in FY13.

State-run oil companies rally after Iran deal

Last Updated: Monday, November 25, 2013, 11:34

Shares of state-run oil marketing companies gain after Brent crude drops more than USD 2 a barrel on Monday as supply fears ease following a breakthrough nuclear deal between world powers and Iran over the weekend.

Govt sanctions Rs 17,772 crore cash subsidy for oil companies

Last Updated: Thursday, November 7, 2013, 19:12

Government Thursday sanctioned Rs 17,772 crore cash subsidy to fuel retailers like IOC to cover for half of the revenues they lost on selling diesel and cooking fuels below cost in the September quarter.

Varadarajan takes charge as BPCL CMD

Last Updated: Tuesday, October 1, 2013, 18:54

Prior to his appointment as the CMD, Varadarajan was serving as the Director- Finance of the company, a company release said.

BPCL keen on Bina Refinery IPO next fiscal

Last Updated: Sunday, September 29, 2013, 11:40

Earlier, the company had said it would divest 24 percent of its 49 percent stakes in the refinery to public, but this time around Singh did not specify any particular divestment range.

Credit Suisse upgrades BPCL to 'outperform'

Last Updated: Wednesday, September 25, 2013, 11:23

The investment bank says current share price reflects export parity pricing implementation, which should provide a floor to valuations.

JV with LG Chem off, but Kochi petchem proj not shelved: BPCL

Last Updated: Sunday, September 22, 2013, 17:25

Bharat Petroleum has said there is no question of shelving its ambitious plan of foraying into niche petrochemicals with the Rs 5,000-crore Kochi petrochemicals project, though its joint venture with Korean major LG Chem for the same has reached a dead-end.

Losses on diesel sales at record Rs 14.50 a litre

Last Updated: Monday, September 16, 2013, 19:34

Indian Oil Corp (IOC), Hindustan Petroleum Corp (HPCL) and Bharat Petroleum Corp (BPCL) are losing Rs 486 crore per day as they are made to sell diesel, domestic LPG and kerosene way below cost to keep inflation under check.

Fuel sales losses likely to come down to Rs 84,475 cr in FY14

Last Updated: Monday, May 6, 2013, 16:16

Indian Oil Corp (IOC), Hindustan Petroleum Corp (HPCL) and Bharat Petroleum Corp ( BPCL) lost Rs 1,61,029 crore in 2012-13 on sale of diesel, domestic LPG and kerosene at government controlled rates, which are way below market price.