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May 25, 2013
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| Oil India net profit at Rs. 35.9 bn |
| India Infoline News Service/18:04,May 25, 2013 |
| State-run Oil & Gas company Oil India Ltd. (OIL) posted a net profit of Rs. 35.92 billion for the year ended March 31, 2013 as compared to Rs. 34.46 billion for the year ended March 31, 2012.
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| Petroleum Ministry refutes allegations regarding proposed gas price revision |
| India Infoline News Service/09:48,May 25, 2013 |
| The Committee submitted its Report in December, 2012 and the Ministry of Petroleum & Natural Gas is in the process of finalizing a Cabinet Note to be placed before the Cabinet Committee of Economic Affairs for a decision on the recommendations of the Dr. Rangarajan Committee. |
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May 24, 2013
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| RIL, BP make huge gas dicovery at KG-D6 block |
| India Infoline News Service/19:08,May 24, 2013 |
| The biggest ever discovery by Reliance Industries Ltd. and its UK-based partner British Petroleum at KG-D6 block is expected to add to the hydrocarbon resources in the KG D6 block. Appraisal will now commence to better define the scale and quality of the field. |
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| LPG prices hiked by Rs. 10/cylinder in Mumbai: reports |
| India Infoline News Service/18:37,May 24, 2013 |
| Oil PSUs has raised LPG prices by Rs10/per cylinder in Mumbai, according to reports. |
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| Ind-Ra affirms Reliance Industries at ‘IND AAA’/stable |
| India Infoline News Service/16:59,May 24, 2013 |
| The ratings reflect RIL's strong business profile in the oil and gas business with vertical diversification across the supply chain (upstream, refining and petrochemicals), efficient refining operations and its dominant position in the domestic petrochemicals sector. |
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| India Infoline Weekly Newsletter - May 24, 2013 |
| India Infoline News Service/16:30,May 24, 2013 |
| On the domestic front, economic activity has been moderating as factory output continues to lose momentum and services growth decelerates. Domestic consumption, which was a bright spot, is fast fading. But on a positive note, with inflation trending lower, the Reserve Bank may be able to cut policy rates at its June 17 meet.
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| Global crude oil price drop to 99.37/US$ bbl: Govt |
| India Infoline News Service/16:27,May 24, 2013 |
| In rupee terms the crude oil price declined to Rs 5563.73 per bbl on Thursday as compared to Rs 5611.41/bbl a day earlier. This was due to fall in price in dollar terms. Rupee dollar exchange rate on Thursday was Rs. 55.99/$ against Rs 55.52/$ on the previous trading day.
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| Indian crude basket declines sharply to 99.37/US$ bbl on 23.5.2013 |
| India Infoline News Service/15:41,May 24, 2013 |
| This was lower than the price of US$ 101.07/bbl prevailing on the previous trading day of 22.05.2013. |
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| 'New finds to keep upward oil trend in check' |
| India Infoline News Service/15:07,May 24, 2013 |
| These are questions that are crucial to a pending decision by the US government over natural gas exports, and while we know where big oil stands versus its manufacturing rivals—it's the economist who can set things straight. |
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| MRPL Q4 net loss at Rs619mn |
| India Infoline News Service/14:44,May 24, 2013 |
| Total Income has increased from Rs. 161069.80 mn for the quarter ended March 31, 2012 to Rs. 186755.70 mn for the quarter ended March 31, 2013.
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| Environmental panel approves BPCL unit in Mumbai: report |
| India Infoline News Service/14:28,May 24, 2013 |
| Environmental panel has approved BPCL new distillation unit in Mumbai, according to reports. |
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| No engine shutdown in RIL's corporate jet: DGCA |
| India Infoline News Service/12:45,May 24, 2013 |
| Directorate General of Civil Aviation (DGCA) has closed the inquiry, says report.
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| No stoppage in supply to Haryana City Gas Distribution: GAIL |
| India Infoline News Service/11:14,May 24, 2013 |
| The company was also being supplied 0.25 MMSCMD of natural gas by Indraprastha Gas Limited (IGL) under Administered Pricing Mechanism (APM) through the pipeline network of GAIL. |
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May 23, 2013
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| Oil Subsidy bill for this year not to exceed Rs.80,000 Crore: FM |
| India Infoline News Service/17:10,May 23, 2013 |
| The Union Finance Minister P.Chidambaram said that issue of Quantitative Easing in USA, China and Japan has no relevance at all to the situation in India.
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| Oil & Gas Round Up - 17 May to 23 May, 2013 |
| India Infoline News Service/16:46,May 23, 2013 |
| The Essar group is planning to sign agreements with a leading Chinese bank, according to reports. |
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May 22, 2013
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| HPCL may cancel naphtha cargo: reports |
| India Infoline News Service/17:35,May 22, 2013 |
| Reports stated that this moves come after a fire hit HPCL's 8.3 million tonnes a year Visakhapatnam plant on May 16.
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| CCI to investigate price-fixing allegations on Oil Companies |
| India Infoline News Service/16:30,May 22, 2013 |
| CCI earlier wrote to ministry of petroleum and natural gas regarding price fixing and cartelization by state run Oil Marketing Companies. The ministry replied that since petrol is not a regulated entity and the prices are decided based on a pricing formula. Following which CCI referred the case to DG to investigate. |
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| Indian crude basket falls sharply to 101.98/US$ bbl on May 21 |
| India Infoline News Service/15:34,May 22, 2013 |
| This was lower than the price of US$ 102.50/bbl prevailing on the previous trading day of 20.05.2013 |
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May 21, 2013
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| Indian crude basket rises sharply to 102.50/US$ bbl on May 20 |
| India Infoline News Service/16:47,May 21, 2013 |
| This was higher than the price of US$ 101.96/bbl prevailing on the previous trading day of 17.05.2013. |
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| Essar Energy unit to acquire 2.4% stake in Essar Oil |
| India Infoline News Service/11:53,May 21, 2013 |
| The acquisition is pursuant to a call option agreement entered into with Essar Investments Ltd which subsequently demerged its investment division to Imperial, says media reports.
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