Oil & Gas articles

India’s fuel demand rises 6.2% in November

India’s fuel demand rose 6.2 percent in November compared with the same month last year. Consumption of fuel, a proxy for oil demand, totalled 17.41 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Sales of gasoline, or petrol, were 4.8 percent higher from a year earlier at

India favours petcoke import ban, US would be biggest loser

India’s government is in favour of banning imports of petroleum coke on environmental grounds, according to a government affidavit filed with the country’s top court, which could be a big blow to U.S. refiners who export heavily to the country. The Supreme Court, which in October banned the use of petroleum coke in and around

GAIL to import 5 MT LNG from US in FY’19

GAIL India Ltd will import about 5 million tonnes (MT) of LNG from the US next fiscal, replacing the volumes the state-owned utility buys from the spot market, a senior company official said. GAIL has contracted 5.8 MT per annum of liquefied natural gas (LNG) from the US, some of which it has swapped –

Oil prices stable as lower crude stocks counter soaring US output

Oil prices were stable on Thursday as a fall in U.S. crude inventories was countered by soaring output and a rise in fuel stocks. U.S. West Texas Intermediate (WTI) crude futures were at $55.92 a barrel at 0751 GMT, down 4 cents from their last settlement. Brent crude futures, the international benchmark for oil prices,

60 pc of PMUY beneficiaries bought 4 LPG refills: Pradhan

As many as four LPG cylinders are bought by about 60 per cent of the 3.2 crore poor women who were given free cooking gas connection, Oil Minister Dharmendra Pradhan said today. Since launch on May 1, 2016, more than 3.2 crore LPG connections, each costing Rs 1,600, have been given to poor women under

Oil steadies above $62, expected fall in U.S. inventory supports

Oil steadied above $62 a barrel on Tuesday as expectations of a drop in U.S. crude inventories and prolonged supply curbs by OPEC and other producers countered rising output in the United States. An OPEC-led producer group last week extended a supply-cutting deal through 2018, but the resulting support for prices could bolster U.S. output