Major Oil Companies to Disburse Over $100 Billion to Shareholders
Ashlin Rajan -
These 'super-majors'—BP, Shell, Chevron, ExxonMobil, and TotalEnergies—distributed a staggering $104 billion in dividends and share buybacks to shareholders throughout the 2022 calendar year, according to data from the Institute for Energy Economics and Financial Analysis (IEEFA).
Market Surges to New Highs, Oil & Gas Stocks Lead with Strong Performance
Kumar Manoj -
The benchmark indices closed at record highs for the fifth consecutive day, with the Nifty reaching 21,778.70, up by 0.57%, and the Sensex ending at 72,410.38, up by 0.52%.
HPCL Leads Surge in Oil and Gas Stocks, Contributing to Market Gains
Anurima Das -
Among the major movers in the sector, HPCL led the way with a remarkable 6.7% increase, followed by IOC gaining 3.6%, GAIL rising by 3%, and Petronet LNG securing a 2.6% uptick.
Cut in Customs Duty on Edible Oil Imports Continues for Another Year
Ashlin Rajan -
​​​​​​​Initially implemented in June to counter soaring prices, the reduction saw a decrease in the basic customs duty on crude palm oil, crude sunflower oil, and crude soyoil from 17.5 percent to 12.5 percent until March 2024.
BP Halts Red Sea Oil Shipments Post Houthi Rebel Attacks
Newsmen Business Desk -
Several freight companies have also suspended their ships after being targeted by Houthi rebels in Yemen.
Minister Announces India's Decision to Purchase Oil from Venezuela
Newsmen Business Desk -
The move comes as part of India's strategy to diversify its sources of oil imports and secure supplies at competitive prices. The U.S. lifted sanctions on Venezuelan oil in October, prompting Indian refining companies to resume purchases.
Q3 Report Shows India's Smartwatch Shipments Surge by 21%, Fire-Boltt Takes the Lead
Newsmen Business Desk -
One of the notable aspects was the surge in domestic manufacturing, reaching an all-time high market share of 82 percent, a remarkable increase from just 4 percent a year ago.
Chevron to buy rival Hess for $53 billion in yet another oil industry consolidation deal
IANS -
Cash-rich oil giants are taking advantage of high prices and surging profits to snap up assets and boost returns for shareholders even as pressure builds for them to invest more in renewable energy.
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