Category: Oil & Gas

Commodity markets are showing significant upward traction in prices under the lead of crude oil. Gold and select base metals, too, are rising. Obviously, some optimism is beginning to pervade; but what’s the basis? The hope of finding a vaccine against the deadly coronavirus is rising. Many countries, especially in Europe, are beginning to lift […]

Oil prices rose on Tuesday, extending gains for a fourth straight session, amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic. Brent crude climbed $0.85, or 2.4 per cent, to $35.66 a barrel by 0033 GMT, […]

A recovery in fuel demand in India gathered momentum in the first half of May versus April as curbs on transport and industrial activity were partly lifted in areas that have contained the spread of coronavirus, data from industry sources showed. Demand for refined fuel is expected to get another boost from Monday as India […]

India Oil Corp, the country’s top refiner, is close to winning its first contract to supply diesel, jet fuel and petrol in the second half of this year to state-run Bangladesh Petroleum Corp, two sources with knowledge of the matter said. IOC mostly stays away from participating in the term tenders for fuel exports as […]

Sugar industry, which has been trying to augment ethanol production to meet the requirement for fuel blending in the country, has made a case for working out a tripartite mechanism between sugar mills, oil marketing companies and banks so as to give a boost to the ethanol business of such mills. The Indian Sugar Mills […]

The board of Vedanta has approved its parent company Vedanta Resources’ proposal to delist the company stocks from both BSE and NSE by buying back 49 per cent shares held by public shareholders. The company had also appointed Upendra C Shukla, Practicing Company Secretary as the scrutiniser to conduct the process of the postal ballot […]

Ajay Kumar Dixit, Chief Executive Officer of Cairn Oil and Gas, will end his term at the company helm a little over a year after taking charge. Dixit was appointed as the CEO in mid-April 2019, his tenure comes to a close in this month end. A company statement said that Dixit will superannuate from […]

Oil prices climbed by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading. Brent crude was up $1.19, or 3.7%, at $33.69 a barrel […]

Reliance Industries Ltd (RIL) has released a film paying tribute to India’s resilient spirit in the fight against the Coronavirus (COVID-19) pandemic by releasing a film on social media. The film was inspired by the theme #CoronaHaaregaIndiaJeetega. “Led by Reliance Foundation Chairperson Nita Ambani, we at Team Reliance are proud and humbled to support #CoronaHaaregaIndiaJeetega […]

Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries have got over 6.28 crore free cylinders during the lockdown months, according to Minister of Petroleum and Natural Gas, Dharmendra Pradhan. Pradhan said that PMUY has just completed four years of its successful journey, which has led to momentous improvement in the lives of over 8 crore poor and […]

European shares rose on Friday, with miners and energy firms gaining after China reported its first monthly rise in factory output this year, but concerns about global economic recovery kept stocks on course for weekly declines. The pan-European STOXX 600 rose 1 per cent. Miners, exposed to the health of the world’s second-largest economy, jumped […]

Oil prices jumped more than 3 per cent on Friday, touching more than one-month highs amid signs that demand for crude was picking up with China reporting increased refinery runs, and rounding out a week of bullish news on the supply front. Brent crude was up $1.21 cents, or 3.9 per cent at $32.34 a […]