Category: Oil & Gas

Russia is ramping up oil exports from its major eastern port of Kozmino by about a fifth, aiming to meet surging demand from Asian buyers and offset the impact of EU sanctions, three sources familiar with the matter said. Moscow has said it hopes to re-route energy exports from the West to Asia, but doing […]

Saudi Arabia, the world’s top oil exporter, raised July crude oil prices for Asian buyers to higher-than-expected levels amid concerns about tight supply and expectations of strong demand in summer. The official selling price for July-loading Arab Light to Asia was hiked by $2.1 a barrel from June to $6.5 a barrel over Oman/Dubai quotes, […]

For over five months now, ONGC has had no representative on the board of Hindustan Petroleum Corporation Ltd — a company in which it owns a 51.11 per cent stake since January 2018. HPCL for over one-and-a-half years — between January 2018 and August 2019 — did not recognise ONGC as its promoter. It relented […]

External affairs minister S. Jaishankar on Friday hit out at sections of the international community which are criticising India for buying Russian oil and accusing New Delhi of funding Russia’s war on Ukraine in the process. “Is buying Russian gas not funding the war,’’ he shot back while responding to questions at an interactive session […]

AG&P Pratham, the city-gas distribution arm of Singapore-based (Atlantic Gulf and Pacific) AG&P Group has drawn up plans to set up 11 compressed natural gas (CNG) stations and provide piped natural gas (PNG) supply in Ramanathapuram district over the next eight years. The company has commenced laying of steel pipeline in Ramanathapuram and Keelakarai as […]

The West Bengal government will run a large number of buses on CNG, an environment-friendly fuel, transport minister Firhad Hakim said on Wednesday while inaugurating a CNG station at the Kasba bus depot in south Kolkata. “Apart from Kolkata proper, CNG stations will be set up in the adjoining districts in phases as part of […]

BJP’s national vice-president Dilip Ghosh on Wednesday said the central leadership’s letter asking him to refrain from speaking publicly about party colleagues had been “deliberately” made available to journalists even before it reached the recipient and he knew who was behind it. A letter addressed to Ghosh and signed by Arun Singh, a national general […]

EU leaders have agreed on an embargo on Russian oil imports that will kick in around the turn of the year — and for now exempts the pipeline imports that Hungary and two other landlocked Central European states rely on. The ban, agreed overnight after weeks of wrangling, aims to remove 90 per cent of […]

Russia widened its gas cuts to Europe on Tuesday with Gazprom saying it will turn off supplies to several “unfriendly” countries which have refused to accept Moscow’s roubles-for-gas payment scheme. The move by the Russian gas giant is the latest retaliation to western sanctions imposed on Moscow following its February 24 invasion of Ukraine, escalating […]

EU leaders were poised to endorse an embargo on Russian oil on Monday after weeks of intensive talks, the bloc’s most far-reaching effort to punish Moscow for its invasion of Ukraine by depriving the Kremlin of a key stream of revenue and accelerating Europe’s independence from Russian fuel. To reach the proposed compromise at a […]

The bloc has overcome objections to a long-stalled plan to impose an oil embargo on Russia. The EU has also agreed to remove Sberbank from the SWIFT payment system.The 27 EU members agreed a new sanctions package late on Monday covering more than two-thirds of Russian oil imports to the bloc, European Council President Charles […]

Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months, as traders waited to see whether the European Union would reach an agreement on banning Russian oil imports. The Brent crude futures contract for July, which will expire on Tuesday, was up 69 cents, or 0.6 per cent, […]