Key triggers for oil stocks: HPCL, RIL, OIL in focus
Reliance Industries Ltd and Essar Group have emerged as top bidders for the 16 coal-bed methane (CBM) blocks offered across two consecutive bidding rounds, according to a list of bidders released by the Directorate General of Hydrocarbons (DGH). State-owned Oil India Ltd bid for three blocks while India’s largest oil and gas producer, ONGC, stayed away. The government offered three areas for exploration and production of natural gas trapped in underground coal seams in the Special CBM Bid Round 2025, and another 13 blocks in the 2026 bidding round.
Oil Green Energy Ltd (OGEL), a wholly owned subsidiary of Oil India Limited, has entered a Memorandum of Understanding (MoU) with Numaligarh Refinery Limited (NRL), for collaboration in the development, procurement and supply of renewable energy, with special emphasis on group captive requirement. The MoU was signed by Rajeev Kumar Tamuli, General Manager, OGEL, and Rupam Kumar Sarma, General Manager (Technical Services), NRL, in the august presence of CMD, OIL & Chairman, NRL; Managing Director, NRL; Directors of OIL and NRL; CEO, OGEL; along with other senior officials from both organisations.
A major fire broke out near the main unit of the newly built Rs 79,450-crore Rajasthan refinery of Hindustan Petroleum Corporation Ltd (HPCL) on Monday, a day before the scheduled inauguration by Prime Minister Narendra Modi. Thick columns of black smoke emitted from the fire that broke out near the crude distillation unit — the primary or front-end unit that is often referred to as the heart of an oil refinery.
Published on April 21, 2026