Category: Oil & Gas

Ratnagiri Police have imposed Section 144 of the CrPC in Barsu and Solgaon villages in Rajapur taluka of Ratnagiri district, ahead of a survey for the proposed petrochemical refinery project in the area. Local residents have been opposing the project for the past two years. While the administration is all set to start the survey, […]

RISING DEMAND for fuel and other petroleum products amid flagging domestic crude oil output has resulted in India’s reliance on imported crude increasing to a record 87.3 per cent of domestic consumption in 2022-23, up from 85.5 per cent in 2021-22, according to data released by the oil ministry’s Petroleum Planning & Analysis Cell (PPAC). […]

Indian companies “sometimes” face delays in paying for Russian oil priced above the $60 cap per barrel fixed by the Western nations, India’s oil secretary Pankaj Jain said on Monday. “Nobody stops us from buying Russian oil at above the price cap level provided. We are not using western service,” Jain told reporters on the […]

Indian steel maker Tata Steel Ltd on Monday said it initiated trial for injecting hydrogen gas at its blast furnace in the company’s flagship plant, in a move to reduce metallurgical coke usage and cut carbon emissions. The company commenced the trial injection at the plant in the eastern city of Jamshedpur, using 40% of […]

The CBI has filed a fresh case against former GAIL director E S Ranganathan for allegedly amassing assets worth more than Rs 4.82 crore, disproportionate to his known sources of income, during 2017-22, officials said on Monday. Ranganathan, the then director (marketing) at the Gas Authority of India Limited (GAIL), was arrested in January last […]

At least 21 people, including two minors, were injured in an LPG cylinder blast in a house in Garden Reach neighbourhood of Kolkata on Thursday evening, police said. The blast led to fire in the house in Bichalighat Road locality, it is learnt. “Fire broke out on the ground floor of the house after the […]

Pakistan has placed its first order for discounted Russian crude oil under a new deal struck between Islamabad and Moscow, the country’s petroleum minister said, with one cargo to dock at Karachi port in May. Pakistan’s purchase gives Russia a new outlet for its crude, adding to Moscow’s growing sales to India and China, as […]

The Centre reimposed the windfall tax on domestically produced crude oil on Tuesday, revising it to Rs 6,400 per tonne while also scrapping the export duty on diesel. The revised rates come into effect from Wednesday, April 19, 2023. The windfall tax on petrol and aviation turbine fuel (ATF) continues to be zero. In its […]

Oil prices turned lower on Monday as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes, though Chinese GDP data was expected to augur well for demand growth. Brent crude futures were down 30 cents or 0.3% at $86.01 a barrel at 11415 GMT, […]

After falling to a nine-month low in February, India’s petroleum fuel exports–mainly diesel and aviation turbine fuel–to Europe surged to a multi-year high in March as the continent’s demand rose due to refinery disruptions in France and anticipation of lower production during the springtime refinery maintenance season. India’s refined fuel exports to Europe shot up […]

Adani Group and French company TotalEnergies’ newly built Rs 6,000 crore facility to import LNG at Dhamra on the Odisha coast will start commercial operations at the end of May, the French firm said on Monday. The 5 million tonne a year capacity terminal received its first ever shipment of liquefied natural gas – a […]

National Stock Exchange (NSE) on Friday said it will launch futures contracts on underlying WTI crude oil and natural gas in the commodity derivatives segment from May 15. This comes after the exchange, last month, received approval from markets regulator Sebi to launch the rupee-denominated Nymex WTI crude oil and natural gas futures contracts in […]