Industries claiming to be run on agro-based fuel, to bring down pollution in the NCR, could be hoodwinking pollution controlling authorities by taking advantage of a loophole in a 2018 notification of the Union government, apprehends the Environment Pollution (Prevention & Control) Authority (EPCA). “A section of industries could be running on agro-based fuel only […]
The Union cabinet on Tuesday cleared a proposal to allow state-run Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to induct private sector partners for production enhancement in their oil and gas blocks. “For production enhancement, bringing new technology, and capital, …[they] will be allowed to induct private sector partners,” a statement […]
India is feasting on Venezuelan oil, after the U.S. imposed a de facto ban on crude imports from the Latin American nation. While flows to the U.S. came to a halt, India became the No. 1 buyer of Venezuelan crude in the first half of February, with imports jumping 66 percent to 620,000 barrels a […]
Oil held its biggest loss in a month as renewed concern over slowing global growth largely outweighed US sanctions against Venezuela’s state oil company.
Close on the heels of the launch of a new shipping route connecting three Indian ports with Chabahar, Iran is eyeing the construction of a gas pipeline and a railway link to Zahedan to boost activities at the strategic port, Iranian officials said on Monday.
Reliance Industries Ltd Thursday reported an 8.8 per cent rise in its October-December quarter net profit at Rs 10,251 crore compared to the year-ago quarter.
Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan’s deepwater port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China.
Petrol price Sunday was cut by 22 paise per litre to its lowest level in 2018 while diesel rates were reduced by 23 paise to a nine-month low.
Oil prices climbed on the last trading day of the year on Monday, taking a cue from firmer stock markets, but were on track for the first yearly decline in three years amid concerns of a persistent supply glut.
The subsidised price of domestic cooking gas (LPG) was cut by Rs 5.91 per cylinder and the non-subsidised rate was reduced by Rs 120.50 per cylinder on Monday, said Indian Oil Corp (IOC).
Low oil prices were the biggest economic windfall for the Narendra Modi led NDA government when it assumed office in May, 2014. The average price of India’s crude oil basket (COB) fell from $106/barrel to $46/barrel between 2013-14 and 2015-16. This allowed the government to reap fiscal gains without having to worry about inflation. An […]
India’s oil and gas subsidies fell by 70% from financial year (FY) 2014 to FY 2017, according to a report released by International Institute of Sustainable Development (IISD) and the Council on Energy, Environment and Water (CEEW). The subsidy to coal power remains stable despite its pollution potential.