Category: Oil & Gas

CHENNAI: A team of Tangedco officials, which inspected the defunct Ennore thermal plant campus last December to set up 100 small gas-based power units of 18 to 20 MW each (for a total capacity of 2,000MW), has submitted a report saying that per unit cost of production of power at the plant may be between […]

NEW DELHI: Given the increase in the price of crude oil in the international market, the diesel and petrol prices should have been higher by Rs 7-14, suggests a report by the State Bank of India’s (SBI) economic wing. The report also highlighted that the intensifying geopolitical tensions in Europe is going to cost India […]

NEW DELHI: International oil prices retreated from an over seven-year high but was still above USD 100 a barrel and continue to pose threat to India’s inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing […]

NEW DELHI: The Russia-Ukraine conflict is set to have a negative impact on oil-dependent aviation and auto sector. For airlines, ATF or jet fuel accounts for up to 40% of operating costs. At Rs 90,519.8 and Rs 88,987.2 in Delhi and Mumbai, respectively, the prices of jet fuel is already at a record level and […]

NEW DELHI: International oil prices surged to over a seven-year high of USD 103 a barrel on Thursday after Russia attacked Ukraine, but supply lines to India remain unaffected, a top government official said exuding confidence of uninterrupted fuel supplies even if the conflict escalated. For consumers, the spike in global oil prices will not […]

NEW DELHI: The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country’s image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has […]

NEW DELHI: As India shapes its energy transition to cleaner fuels, billionaire Mukesh Ambani on Wednesday said technological advancements will make India a global new energy leader, exporting half a trillion dollars worth of clean energy in two decades. Ambani, who is helming a transition to green hydrogen production at its oil-dominant conglomerate, said India […]

NEW DELHI: Global oil and liquified natural gas (LNG) prices are likely to see a sharp rise in the event of a Russia-Ukraine conflict, which would have negative implications for net energy importers, Moody’s Investors Service said on Wednesday. Moody’s Investors Service Managing Director Michael Taylor said trade effects are likely to arise from import […]

NEW DELHI: Sujoy Choudhury has been appointed Director (Planning and Business Development) on the board of state-owned Indian Oil Corporation (IOC), the nation’s biggest oil firm. His appointment is effective from February 23, the company said in a stock exchange filing.

HONG KONG: Asian markets fell and oil prices rose on Thursday on growing fears of a war in eastern Europe after Moscow said separatists had called for help to repel Ukrainian forces and Vladimir Putin announced a ‘military operation’. US officials had warned of an imminent incursion by Russia after the Kremlin this week recognised […]

BANGKOK: Oil prices surged nearly 5% and stock prices dropped after Russian President Vladimir Putin ordered forces into separatist regions of eastern Ukraine, bringing a long-feared invasion a step closer. Russia is a major energy producer and the tensions over Ukraine have brought wide swings in volatile energy prices, on top of the inevitable risks […]

VIJAYAWADA: The Andhra Pradesh State Road Transport Corporation (APSRTC) has decided to buy high-speed diesel from retail outlets from March 1, instead of going for bulk purchases. Addressing a press conference at the RTC House here on Tuesday, APSRTC vice-chairman and managing director Ch Dwaraka Tirumala Rao said the Corporation used to procure HSD for […]