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.
Tumbling oil prices have delivered an early Christmas present to India’s currency market, with the rally that’s put the rupee on course for its best quarter since March 2017 seen extending into the new year.
The list of potential pitfalls for Middle East investors next year is long.
After a steady, continuous drop for more than 50 days, the price of petrol in Mumbai increased by 11 paise on Thursday and was sold at ₹75.91 per litre.