Category: Oil & Gas

Matrix Gas and Renewables Ltd (Matrix) on Tuesday said it has raised Rs 350 crore in the pre-IPO round to accelerate expansion of its gas business, acquisitions, and funding capital expenditure plans. “The pre-IPO (Rs 350 crore) round saw participation from key investors like Gunavanth Vaid (4GCapital Venture), Sarda Group, Sunil Kumar Singhvi (Singhvi Heritage […]

Chennai: The pipeline transmission of liquified natural gas and the City Gas Distribution segment is expected to pump in Rs 10-15,000 crore per annum over the next three years. Natural gas demand grew 14 per cent YoY in the seven months of FY2024 supported by softening liquefied natural gas (LNG) prices and the uptick in […]

Oil prices slid in early trade on Friday, extending losses from the previous session on fears US interest rates will go higher than previously expected and fresh concerns that Covid outbreaks will dent fuel demand in China. Brent crude futures dropped by 22 cents, or 0.2 per cent, to $94.45 a barrel at 0025 GMT […]

NEW DELHI: PSU oil companies are losing a net Rs 4 per litre on diesel while their margins have turned positive on petrol, Oil Minister Hardeep Singh Puri said on Wednesday on talks of a price reduction in the offing as international rates have softened.

Tiny amounts of gas suddenly appeared in the Russian Nord Stream 1 pipeline on Wednesday, website data showed, weeks after the pipeline ruptured in the Baltic Sea in what investigating teams said was suspected sabotage caused by explosions. Gas flows were at 102 kilowatt-hours per hour (kwh/h) between 0700-0800 CET on Oct. 19 from zero, […]

HYDERABAD: After a hawkish US Federal Reserve increased its policy rate by three quarters, the Reserve Bank of India is likely to follow the suit to keep rupee attractive for foreign investors and fight stubborn domestic inflation. An interest rate hike in advanced economies like the United States will reduce the interest rate differential in […]

Mumbai: Maharashtra government has decided to reduce value added tax (VAT) on petrol and diesel by Rs 5 and Rs 3 per litre respectively, Chief Minister Eknath Shinde said here on Thursday. Shinde informed reporters after a cabinet meeting at Mantralaya that the decision would entail a burden of Rs 6,000 crore on the state […]

New Delhi: On the back of the best-ever price it earned on crude oil it produces, state-owned Oil and Natural Gas Corporation (ONGC) reported a record net profit of Rs 40,305 crore in the fiscal year ended March 31, becoming India’s second most profitable company behind Reliance Industries Ltd. In a statement, ONGC said net […]

PIPPALDHARI (ADILABAD): Demand for firewood has gone up in rural areas with the frequent raise in LPG prices that have by now touched Rs 1,000 per cylinder. People are showing interest in using firewood that costs less as compared to the purchase a domestic gas cylinder. A bullock cart loaded with firewood is sold for […]

Oil prices rose Monday as concerns grew about tighter global supply, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia. Brent futures were up $1.50, or 1.3 per cent, at $113.20 a barrel at 6 am, and US West Texas Intermediate futures rose 98 cents, […]

New Delhi: Petrol and diesel prices were on Monday hiked by 40 paise a litre each, taking the total increase in rates in the last two weeks to Rs 8.40 per litre. Petrol in Delhi will now cost Rs 103.81 per litre as against Rs 103.41 previously, while diesel rates have gone up from Rs […]