Congress will hold a symbolic protest at petrol pumps across the country on Friday against the rising fuel prices that have crossed the ₹100-mark at several places, including Mumbai. According to party general secretary KC Venugopal, the protests will be organised by the local units of the party in compliance with all Covid safety protocols […]
Category: Oil & Gas
OPEC sees oil demand recovery gaining strength in second half of the year
OPEC predicted that the recovery in global oil demand will gather strength in the second half of the year, as the group prepares to consider reviving more halted output. Oil consumption will jump by about 5 million barrels a day — or roughly 5% — in the second half of 2021 versus the first as […]
Reliance Industries partly-paid shares relist on NSE, close 0.5% higher
MUMBAI: Party-paid shares of Reliance Industries'(RIL) relisted at Rs1,572 apiece on the National Stock Exchange on Thursday. The stock closed 0.5% higher at Rs1,554.80 apiece, having risen 3.45% intraday. Shares of Reliance Industries gained 0.37% to close at Rs2,183 apiece today. In a regulatory filing, the oil-to-telecom conglomerate said it received Rs13,150.7 crore as the […]
Reliance says FCCU unit at Jamnagar refinery shut, exports may be delayed
Reliance Industries on Wednesday said that a secondary unit at its export-focussed refinery in the western state of Gujarat has been shut since June 6, which may delay the shipment of some product cargoes. ”The Fluidized Catalytic Cracker Unit (FCCU) in our SEZ refinery at Jamnagar had to be taken for an emergency shutdown on […]
LPG cylinder users can now choose distributors of their own choice. Here’s how
The Ministry of Petroleum & Natural Gas today in a statementsaid that it is soon going to launched a new facility in which the LPG customers will have a choice deciding which distributors they want their LPG cylinders to refill from. The new facility will help the customers to choose their “Delivering Distributor” from the […]
Now domestic cooking gas customers can choose LPG cylinder supplier
New Delhi: To help improve service, state-run oil marketing companies (OMCs) will allow their customers to choose the domestic cooking gas distributor for liquified petroleum gas (LPG) cylinder refills. India had 28.74 crore LPG consumers as on 1 January, 2021. This move comes in the backdrop of Pradhan Mantri Ujjwala Yojana, a government programme that […]
Centre to auction unmonetized oil, gas fields of ONGC and OIL
The government has decided to auction unmonetized oil and gas fields of state-run Oil and Natural Gas Corp. (ONGC) and Oil India Ltd (OIL) to raise hydrocarbon production and improve energy security. Speaking at the launch of the third bid round of discovered small fields (DSF), petroleum and natural gas minister Dharmendra Pradhan on Thursday […]
Petrol, diesel prices remain unchanged at record highs; check latest rates
Petrol and diesel prices remained unchanged on Thursday after touching record highs a day earlier, as per price data with oil marketing companies. The fuel rates had reached record highs yesterday following a price rise after a day’s break. As on Thursday, a litre of petrol in Delhi is retailing at ₹95.56, whereas the same […]
India’s fuel demand fell 1.5% y/y in May
NEW DELHI : India’s fuel demand fell 1.5% in May compared with the same month last year. Consumption of fuel, a proxy for oil demand, totalled 15.11 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Sales of gasoline, or petrol, were 12.4% higher from a year earlier […]
India’s natural gas consumption starts to rebound in June
India’s natural gas consumption is recovering in June after declining in the previous two months, as states ease restrictions in the wake of a drop in coronavirus infections, officials said on Wednesday. “In the Indian market there was some slowdown, but the situation is not as bad as last year,” Manoj Jain, chairman of GAIL […]
Exports, ethanol boost to sweeten sugar mill margins
MUMBAI : High sugar exports for the second sugar season (SS; October-September) in a row, coupled with increased supplies of ethanol—and at remunerative prices—for blending with petrol, will improve the operating profitability of integrated sugar mills by 75-100 basis points (bps) to 13-14% this fiscal, said Crisil Ratings on Wednesday. The announcement by the government […]
After a lacklustre Q4, volumes may pose a worry for Petronet
The March quarter earnings of Petronet LNG Ltd were disappointing, with the company missing expectations on key earnings parameters. Volume growth was hit by localized lockdowns necessitated by the second covid wave, which weighed on its overall performance. The company’s key terminal at Dahej in Gujarat, which contributes 95% to its total sales, saw volumes […]