Brookfield-led InVIT to buy RIL’s East-West gas pipeline for Rs 13,000 cr

Canadian investor Brookfield-led India Infrastructure Trust (InVIT) has agreed to buy billionaire Mukesh Ambani’s loss-making East-West gas pipeline for Rs 13,000 crore. The InVIT will acquire 100 per cent equity interest in Pipeline Infrastructure Pvt Ltd, owner and operators of the pipeline that transports Reliance Industries Ltd’s eastern offshore KG-D6 gas to customers, according to […]

Ennore LNG terminal to help IOC fast-track city gas project

India’s first east coast LNG import terminal at Ennore in Tamil Nadu will help state-owned Indian Oil Corp (IOC) fast-track its city gas distribution plans, said Wood Mackenzie. The 5 million tonne per annum (MTPA) liquefied natural gas (LNG) import and regasification terminal, built by IOC at a cost of Rs 5,150 crore, was commissioned […]

Crude oil futures rise to Rs 3,995 per barrel

Crude oil futures rose by Rs 9 to Rs 3,995 per barrel in futures market Tuesday as speculators created fresh positions amid weak global cues. At the Multi Commodity Exchange, crude oil for delivery in March was trading higher by Rs 9, or 0.23 per cent, to Rs 3,995 per barrel with a business turnover […]

Russia cuts oil output further in February to comply with Opec pact

Russia’s oil producers cut their output deeper in February as the nation strives to implement an agreement with OPEC following criticism that it was moving too slowly. The country produced 43.3 million tons of oil last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That’s equivalent to 11.336 million barrels a day, […]