PSU Watch

PSU Watch is a news platform under 27 Frames Communications LLP that focuses on business-related topics. It highlights developments in Public Sector Undertakings (PSUs), governance, bureaucracy, defense, and public policy, especially during this time of significant transformation in these areas.

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Q4 FY25: Indian Oil sees 50% jump in net profit despite losses on domestic LPG sale

2 weeks ago | psuwatch.com | Shalini Sharma

New Delhi: Indian Oil Corporation (IOC) has recorded a 50 percent jump in net profit for the March quarter of FY2024-25 despite losses on subsidised cooking gas. This happened as Indian Oil recorded inventory gains in the last quarter as compared to losses in the previous year, said IOC Chairman AS Sahney in a post-earnings press conference on Wednesday.
Govt reduces floor revenue share, waives off upfront payment for underground coal mines

3 weeks ago | psuwatch.com | Shalini Sharma

New Delhi: The government has reduced the floor revenue share and waived off the mandatory upfront payment for underground mining ventures in a bid to promote underground coal mining. “In a decisive step towards revitalizing India's coal sector, the Ministry of Coal has introduced a series of transformative policy measures aimed at promoting underground coal mining.
How are PSUs exposed to Gensol Engineering responding to the crisis?

3 weeks ago | psuwatch.com | Shalini Sharma

The controversy has led to significant leadership changes within Gensol. Three independent directors—Harsh Singh, Kuljit Singh Popli, and Arun Menon—have resigned from the company’s board. In his resignation letter, Popli expressed disappointment, stating, “... the way things have unfolded and come to light, I am not in a position to continue as (an) Independent Director.”
Amid APM gas supply cuts, govt unveils new domestic gas allocation policy

3 weeks ago | psuwatch.com | Shalini Sharma

New Delhi: Amid cuts in the allocation of Administered Price Mechanism (APM) gas to City Gas Distribution (CGD) companies, the government has now come out with a new plan for gas allocation to these entities. The Ministry of Petroleum and Natural Gas has tweaked the domestic gas allocation policy to allocate natural gas to Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) retailers two quarters in advance to give them supply visibility.
JWG recommends inter-ministerial, inter-state mechanism to address issues in oil & gas sector

4 weeks ago | psuwatch.com | Shalini Sharma

New Delhi: The Joint Working Group (JWG) formed to address critical bottlenecks that affect the ease of doing business in India’s oil and gas exploration and production (E&P) sector has proposed broadening its scope to involve representatives from state governments and other relevant Union ministries in a formal mechanism, a Joint Standing Committee, to streamline statutory approvals.
ONGC secures highest number of blocks in OALP Round-IX, followed by Vedanta, OIL

1 month ago | psuwatch.com | Shalini Sharma

DSF RoundUnder Special DSF Round 2024, two blocks in the Mumbai Basin were awarded to Adani Welspun Exploration Limited (AWEL) and Hindustan Oil Exploration Company Ltd. In addition, the minister launched DSF Round-IV, comprising 55 discoveries across nine contract areas with estimated reserves of 258.59 million metric tonnes of oil equivalent (MMTOE).
Haryana gets 2 key energy projects, set to see power generation capacity rise to 24,000 MW

1 month ago | psuwatch.com | Shalini Sharma

Stressing on the critical role of electricity in building a developed India, the Prime Minister highlighted the government’s efforts to enhance power availability, including initiatives like One Nation-One Grid, new coal power plants, solar energy projects, and the expansion of the nuclear sector.
Petroleum Ministry proposes new policy for allocation of kerosene oil to states

1 month ago | psuwatch.com | Shalini Sharma

According to the Petroleum Ministry, currently, 20 states in India do not require kerosene — Andaman and Nicobar Islands, Andhra Pradesh, Chandigarh, Dadra and Nagar Haveli and Daman and Diu, Delhi, Goa, Gujarat, Haryana, Himachal Pradesh, Jammu and Kashmir, Ladakh, Lakshadweep, Madhya Pradesh, Nagaland, Puducherry, Punjab, Rajasthan, Telangana, Uttar Pradesh and Uttarakhand. Kerosene is largely used by ration card holders for cooking and lighting purposes.
PESB draws interview list for ONGC Director (Exploration). Here are shortlisted candidates

1 month ago | psuwatch.com | Shalini Sharma

New Delhi: The Public Enterprises Selection Board (PESB) has shortlisted 12 candidates for the post of Director (Exploration) at Oil & Natural Gas Corporation (ONGC), an order issued by the headhunter and accessed by PSU Watch shows. The interviews for the post are slated to take place on April 17 between 9 am and 11 am. The PESB has asked the ONGC Chairman to attend the meeting to assist the Board in making its recommendation.
Fuel excise duty hike: How will it impact oil PSUs?

1 month ago | psuwatch.com | Shalini Sharma

Commenting on the impact of the excise duty hike, ratings agency ICRA said, “Owing to the significant decline in crude oil prices recently, the marketing margins of oil marketing companies are expected to remain healthy despite the excise duty increase. Crude oil prices have crashed to USD 63-64/barrel (bbl) now from above USD 77/bbl as on March 31, owing to growing fears of a global recession with retaliatory tariffs being announced by China.