Category: Oil & Gas

Oil and Gas stocks were trading in the positive zone, with the S&P BSE Oil&Gas index rising 395.34 points or 1.44% at 27787.25 at 09:41 IST. Among the components of the S&P BSE Oil&Gas index, Reliance Industries Ltd (up 2.23%), Indian Oil Corporation Ltd (up 1.97%),Hindustan Petroleum Corporation Ltd (up 1.39%),Petronet LNG Ltd (up 1.37%),Bharat […]

The domestic equity benchmarks continued to trade with minor losses in the early afternoon trade. The Nifty hovered around the 22,050 mark. Oil & gas shares witnessed buying demand for the fourth consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex was down 215.29 points or 0.29% to 72,618.59. The Nifty […]

Kremlin-controlled energy giant Gazprom has acquired a 27.5 per cent stake, formerly owned by Shell, in Russian liquefied natural gas (LNG) producer Sakhalin Energy for around $1 billion, according to a government order. The government also officially nullified its order a year ago on selling the stake to Gazprom’s rival, Novatek, without explanation. The Russian […]

Oil prices were on track to gain for a second straight day on Tuesday after settling up more than a dollar on expectations of tighter supply driven by Russian production cuts and attacks on Russian refineries. Brent crude rose 23 cents to $86.98 a barrel by 0118 GMT. US crude futures climbed 28 cents to […]

More than 250,000 barrels per day of U.S. crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude. India, the world’s third-biggest oil importer and consumer, is looking to diversify its oil supplies as fresh U.S. sanctions […]

Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking US rig count added to upward price pressure. Brent crude futures climbed 39 cents, or 0.5 per cent, to $85.82 a barrel at 0759 […]

The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm, an order of the Ministry of Commerce and Industry said on Saturday. At present, crude oil, which is the raw material for producing fuels […]

The Russian oil-export machine funding the Kremlin’s war in Ukraine is finally getting some grit in its gears. Indian oil refiners — Moscow’s second-biggest customers after China since the 2022 invasion — will no longer accept tankers owned by state-run Sovcomflot PJSC because of the risk posed by sanctions. Since the start of October, the […]

Gandhar Oil Refinery (India) has announced that it has received a work order from Ajmer Vidyut Vitran Nigam (AVVNL) amounting Rs 17,41,49,250. The order entails the supply of EHV Grade Type-II Transformer Oil. The contract will be executed within eight months from the date of commencement period, which begins 30 days after the company receives […]

All of India’s refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to US sanctions, further complicating the trade that has flourished since the invasion of Ukraine two years ago. Private and state-run processors including the biggest — Indian Oil Corp. — have stopped taking cargoes if they’re on Sovcomflot […]

Soon, your vehicle licence plates will be scanned by cameras at the petrol pumps for PUCC validity with the Delhi government planning to implement a digital solution for the issue. The Delhi Transport Infrastructure Development Corporation (DTIDC) has floated a tender and invited bidders to suggest digital solutions to check whether the vehicles coming to […]

Crude oil volumes processed by Indian refiners remained steady in February at 20.9 million metric tonnes (MMT), data released by the Petroleum Planning and Analysis Cell (PPAC) on Wednesday showed. Processed volumes rose by a marginal 0.14 per cent as compared to 20.8 MMT processed in February 2023. On a sequential basis however, volumes fell […]