Oil & Gas articles

L&T Hydrocarbon Engineering bags onshore contract from HPCL-Mittal Energy

L&T Hydrocarbon Engineering has bagged an onshore EPC contract from HPCL-Mittal Energy for setting up cracker furnaces at their Bathinda Refinery in Punjab. “L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won a significant onshore EPC contract from HPCL-Mittal Energy for setting up 07 cracker furnaces of 1200 KTPA dual

Oil steadies on supply outages, U.S. China trade

Oil prices stabilised on Tuesday as worries over supply disruptions balanced signs of increasing production and potential damage to global growth from the U.S.-China trade dispute. Benchmark Brent crude oil was up 15 cents at $71.99 a barrel by 0920 GMT after earlier falling to $71.35, its lowest since April 17. The contract fell 4.6

Oil rallies as IEA warns of output capacity limits

Oil prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. The rally received an extra boost from the International Energy Agency (IEA), which said the world’s oil supply cushion “might be stretched to the limit” due to production losses. Benchmark Brent crude oil

Oil falls on trade fears after Trump’s tariff threat

Oil prices fell on Wednesday, with Brent dropping by more than $1 at one point, after U.S. President Donald Trump threatened to levy new trade tariffs on China. The spectre of tariffs on a further $200 billion worth of Chinese goods sent commodities lower along with stock markets, as trade tensions between the world’s two

IOCL to invest Rs 36.63 billion to lay pipelines in eastern sector

Oil major Indian Oil Corporation Limited (IOCL) will invest Rs 36.63 billion for laying two pipelines originating from Odisha under the aegis of South Eastern Region Pipelines (SERPL). The oil PSU will lay the Paradip – Hyderabad pipeline line (PHPL) to evacuate products like motor spirits, high-speed diesel, kerosene and aviation turbine fuel (ATF) from

Oil rises above $79 a barrel on Norway strike, Libyan disruption

Oil prices rose by more than $1 dollar per barrel on Tuesday due to growing global supply outages, with Norway shutting down one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months. The disruptions add to supply worries around the world. Venezuela’s production has collapsed