India and Saudi Arabia are expected to sign mega deals in energy and infrastructure to put meat in strategic partnership when the Gulf kingdom’s Crown Prince, Mohammed bin Salman
Day: February 12, 2019
Petrol, diesel price unchanged today. Check latest rates in top cities
NEW DELHI: Amid volatility in the crude oil market, state-run fuel retailers today refrained from changing the prices of petrol and diesel. The prices were increased marginally yesterday. Worries surrounding trade talks between the United States and China has left the crude market volatile. Brent was down by about 1% yesterday but regained most of […]
Indian ports to log 6-8% cargo growth on crude, coal volumes in FY19: Study
Indian ports are expected to record six to eight per cent growth in cargo volumes in FY19, backed by drivers like coal, crude oil and containers.
Govt subsidies on oil & gas down 76% between 2014 and 2017, coal stable
Indian government subsidies for fossil fuels, including oil and gas, have decreased by 76% over the three years to 2017, but subsidies for the coal industry have remained stable over the same period, a new study by think-tank International Institute for Sustainable Development (IISD), has found. India, the world’s second largest consumer of coal and […]
India-US talks on February 14: Crude oil imports to dominate agenda
A pledge by India to reduce trade imbalance through greater crude imports, US firms’ concerns on the new e-commerce policy and retaliatory tariffs imposed by both nations will dominate the agenda on February 14, when officials sit down for the India-US Commercial dialogue. Being held after a hiatus of a year, the annual talks will […]
Petrotech 2019: Abu Dhabi oil firm targets India’s downstream segment
Abu Dhabi National Oil Company (ADNOC) will look for more opportunities in India’s downstream segment as it plans to expand its contribution to the country’s strategic oil reserves, the company’s chief executive officer said on Monday. The company is in talks with strategic partners for downstream opportunities in India. ADNOC also is expected to partner […]
Saudi Prince Salman to visit Pakistan; may sign $15-bn oil refinery deal
Crown Prince of Saudi Arabia Mohammad bin Salman will embark on a two-day visit to Islamabad on Saturday (February 16), Saudi Ambassador to Pakistan Nawaf bin Said Al-Maliki said on Monday. Geo News reported that a large delegation comprising of the former’s security team has already arrived in Pakistan on Monday to review security arrangements […]
OPEC not in the business of fixing oil prices, says Mohammad Barkindo
OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices when asked on Monday to comment on a U.S. House committee passing a bill targeting OPEC oil supply cuts. A US House of Representatives committee approved a bill on Thursday that would open up the Organization of the […]
Reliance Industries to stop production at two KG fields as output falls
Mukesh Ambani-led Reliance Industries (RIL) and its partner BP are likely to stop production at the D1 and the D3 fields of KG-D6 block in six to nine months due to a decline in the output. RIL has already informed the Directorate General of Hydrocarbons (DGH) about its decision to stop gas production in the […]
Petronet’s LNG terminal plan in Bangladesh put on the back burner
Petronet LNG’s plan to build a liquefied natural gas (LNG) facility at Maheshkhali island in Cox’s Bazar district of Bangladesh through a government-to-government deal has been put on the back burner. Bangladesh has instead asked India to bid in the ongoing round for an LNG regasification terminal at Matarbari, also Cox’s Bazar. An expression of […]
NTPC to curtail power supply to J&K from Feb 19 for payment default
State-owned power giant NTPC will regulate power supply to Jammu and Kashmir (J&K) from February 18 midnight for not clearing outstanding dues of more than Rs 1,600 crore. On February 5, the company had also issued similar notices to discoms in Telangana, Karnataka and Andhra Pradesh to regulate power, as the states had as much […]
SpiceJet Q3 profit plunges 77% due to higher oil prices, forex losses
Budget carrier SpiceJet on Monday reported a massive 77 per cent fall in its net profit at Rs 55 crore owing to higher aviation fuel cost and rupee depreciation. The Gurugram-based airline had posted a net profit of Rs 240 crore in the year-ago period, the firm said. Total income stood at Rs 2,530.8 crore […]