Over 60,000 retail petrol pump and hundreds and thousands of small and big transporters, bulk users and diesel-consuming industries will soon be able to hedge the price risk in petrol and diesel, as Sebi is in final stages of allowing futures in these two commodities. ICEX, the third largest Commodity Exchange, has urged the regulator […]
Day: August 3, 2018
China’s Unipec suspends U.S. oil imports as trade spat intensifies
China’s Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday. The sources declined to be identified as they are not authorised to speak to the media. It […]
India looking to set up LNG import terminal in Myanmar: Dharmendra Pradhan
India is planning to set up a liquefied natural gas (LNG) import terminal in Myanmar as it looks to expand energy diplomacy in its neighbourhood, Oil Minister Dharmendra Pradhan said on Friday. The terminal to import super-cooled natural gas will be in addition to the similar facilities planned by Indian firms in Bangladesh and Sri […]
Will move HC against arbitration ruling that went in favour of RIL: Govt
Oil Minister Dharmendra Pradhan today said the government will file an appeal in High Court against a ruling by an international tribunal which rejected its USD 1.55 billion claims against Reliance Industries for allegedly siphoning gas from fields operated by state-owned ONGC. A three-member international arbitration tribunal, by a majority vote last week, held that […]
Indian Oil sells naphtha from Paradip refinery for first time since May ’17
Indian Oil Corp (IOC) sold a naphtha cargo from its Paradip refinery this week, four traders that participate in the market said on Friday, in what was likely the first sale since May 2017. IOC sold up to 30,000 tonnes of naphtha on late Thursday in two separate cargoes for second-half August loading from Paradip […]