Category: Oil & Gas

From an island fort outside the heart of historic Mumbai, visitors can spot giant oil tankers unloading their cargoes to two refineries on the city’s southeastern coast. Up until a year ago, those ships would almost certainly have been hauling crude from one of a dozen mainstay suppliers — the Middle East, the US and […]

Tata Technologies, an arm of Tata Motors, Gandhar Oil Refinery (India) Ltd and non-banking financial company SBFC Finance have received capital market regulator Sebi’s approval to raise funds through initial public offerings. The three companies, which filed their preliminary papers with Sebi between December 2022 and March 2023, obtained the regulator’s observations during June 21-23, […]

Oil prices edged higher on Tuesday, spurred by worries about political instability in Russia and possible supply disruptions, as well as US demand hopes ahead of the summer driving season. By 0041 GMT, Brent crude futures had climbed 37 cents to $74.55 a barrel, while US West Texas Intermediate (WTI) futures rose 42 cents to […]

Following the Shakti scheme’s statewide implementation on June 11, calls to expand Bengaluru’s bus fleet have got stronger. Simultaneously, the idea of wider EV integration is also gathering traction. Transportation experts, however, are seeking from the government a more environmentally viable approach that also makes economic sense. At present, the Bengaluru Metropolitan Transport Corporation (BMTC) […]

Oil prices rose on Monday after a revolt by Russian mercenaries over the weekend raised concerns about political instability in Russia and the potential impact on oil supply from one of the world’s largest producers. Brent and US West Texas Intermediate crude (WTI) futures were both up 0.4 per cent on Monday, paring some gains […]

Global oil market fundamentals are expected to remain sound for the rest of the year, underpinned by healthy demand in developing countries, especially in China and India, Saudi Aramco CEO Amin Nasser said on Monday. “Overall, we believe that oil market fundamentals remain generally sound for the rest of the year,” Nasser told the Energy […]

Indian fuel retailers could consider cutting petrol and diesel prices in the next quarter if the global situation remains stable, its oil minister Hardeep Singh Puri told broadcaster NDTV. He was responding to a question on whether consumers will benefit from stable oil prices.

China’s oil imports from Russia jumped to a record high in May, Chinese government data showed on Tuesday, as private refiners continue to snap up sanctioned ESPO and Urals crude shipments at discounts. Arrivals from Russia totalled 9.71 million metric tons in May, or 2.29 million barrels per day (bpd). Shipments were up 15.3 per […]

Oil prices slipped on Tuesday after China cut benchmark lending rates less than some expected, sowing further concern over the oil demand outlook in the world’s largest crude importer. Brent crude was down 5 cents at $76.04 a barrel at 03:10 GMT. US West Texas Intermediate (WTI) crude for July was down 99 cents from […]

Tesla CEO Elon Musk on Wednesday reiterated his company’s plans to invest “significantly” in India for manufacturing electric cars without giving a specific deadline after a “fantastic” meeting Prime Minister Narendra Modi in New York. Musk, whose Tesla has created a revolution in the global electric vehicle market, also said he is planning to visit […]

Global oil prices fell on Monday, backing off last week’s gains as questions over China’s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. Brent crude lost 68 cents to trade at $75.93 a barrel by 0042 GMT, while US West […]

Petrol and diesel sales fell in the first half of June as the arrival of monsoon cut demand in the agri sector and reduced vehicular movement, preliminary industry data showed. Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 6.7 per cent to 3.43 million tonnes […]