Nayara Energy, which owns over 7 percent of India's 86,925 petrol pumps, is selling petrol and diesel at Re 1 per liter less than that by IOC, BPCL, and HPCL in 10 states such as Maharashtra and Rajasthan.
The facility would be available for four-wheeler passenger electric vehicles (EVs) as of now. The company would charge the customers around Rs22 per 30 minutes of use, executive director (ED) Sanjeev Agarwal said. While EVs would be recharged in 30 minutes, it would provide a driving range of up to 125km.
The profitability of the Indian oil marketing companies (OMCs) has increased as retail selling prices of petroleum products have "remain unchanged" during six months in 2022.
The government also said its three oil marketing companies are not buying crude from Russia but only the private companies are the ones who are buying, refining and shipping out.
In a statement, BPCL said it has signed a memorandum of understanding (MoU) with the government of Rajasthan for setting up the renewable energy power plant. It, however, neither gave a timeframe nor investment that will be made in the project.
Oil minister Hardeep Singh Puri on Sunday hoped petrol prices will be reduced no sooner state-owned oil companies recoup past losses. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have for the past 15 months not revised petrol and diesel prices in line with the cost. The losses incurred are now being recouped after oil prices slid.
Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) posted a combined net loss of Rs 21,201.18 crore in April-September.
The project to supply and install 800 units of DC fast EV Chargers has already been initiated from Delhi and is expected to be completed by March 31, 2023, a company statement said.
Chief financial officer of Goa Natural Gas Pvt Ltd, Nilay Vakil, said that, in Maharashtra, VAT on CNG is 3%, in Karnataka it is 5.5%, but Goa levies 12.5% VAT on CNG.
India first imposed windfall profit taxes on July 1, joining a growing number of nations that taxes super normal profits of energy companies. Export duties of Rs 6 per litre were levied on petrol and aviation turbine fuel and Rs 13 a litre on diesel.
The company, which currently leads the traditional two-wheeler segment globally in terms of volumes, is looking to foray into the electric segment in the upcoming festive season. Hero MotoCorp had last year crossed the 100 million cumulative production milestone since its inception in 1984.
Fuel retailers ET spoke to said, private fuel retailers Jio-BP and Nayara Energy, are now ready to meet their fuel demand but due to monsoon and retail price differential between PSU and private pump prices, customers are few to stop by.
The Indian basket on June 9 touched $121.28, matching levels seen in February/March 2012, according to data available from the oil ministry's Petroleum Planning and Analysis Cell (PPAC).
With this expansion, FuelBuddy will initially cater to 15 cities, and 100 pin codes in North East India where consumers will be able to benefit from the platform’s 24X7 fuel delivery services through an on-demand app, stated a company release. The North East partner also signed up with FuelBuddy to deploy 100 smart refuellers on road over the next few months across all 7 North-Eastern states, it added.
This is a first of its kind initiative to support the country's commitment to achieve renewable energy targets and reduce greenhouse gas emissions
The daily price revision in India is based on the average benchmark international fuel rate in the previous fortnight. So, the price on Sunday is decided by the average in the previous 15-days.
It also allows users to change LPG distributor, update mobile number, request services from BharatGas distributors like mechanic services, and seek double bottle connection (for single bottle connection customers).
BPCL holds 12.5 per cent of the shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.
Its research and development (R&D) centre, located at a 68-acre sprawling campus at Greater Noida in Uttar Pradesh, has won 18 patents in the past 12 months alone. BPCL has an annual budget of Rs 80-100 crore for R&D.
India stopped importing oil from Iran in mid-2019 following sanctions on the Persian Gulf nation by the Trump administration.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Rajkumar Duraiswamy | Unlock to View | Unlock to View | Director | 01 Oct,2016 |
| Ramamoorthy Ramachandran | Unlock to View | Unlock to View | Director | 01 Aug,2016 |
| Ramesh Srinivasan | Unlock to View | Unlock to View | Director | 01 Mar,2016 |
| Anant Kumar Singh | Unlock to View | Unlock to View | Additional director | 02 Jan,2016 |
| Rajesh Kumar Mangal | Unlock to View | Unlock to View | Additional director | 01 Dec,2015 |
| Gopal Chandra Nanda | Unlock to View | Unlock to View | Additional director | 01 Dec,2015 |
| Deepak Bhojwani | Unlock to View | Unlock to View | Additional director | 01 Dec,2015 |
| Panchapakesan Balasubramanian | Unlock to View | Unlock to View | Director | 18 Sep,2014 |
| Pullukottayil Habel Kurian | Unlock to View | Unlock to View | Nominee director | 25 Nov,2013 |
| Shrikant Prakash Gathoo | Unlock to View | Unlock to View | Whole-time director | 03 Nov,2011 |
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