OPEC predicted that the recovery in global oil demand will gather strength in the second half of the year, as the group prepares to consider reviving more halted output. Oil consumption will jump by about 5 million barrels a day — or roughly 5% — in the second half of 2021 versus the first as […]
Day: June 11, 2021
Reliance Industries partly-paid shares relist on NSE, close 0.5% higher
MUMBAI: Party-paid shares of Reliance Industries'(RIL) relisted at Rs1,572 apiece on the National Stock Exchange on Thursday. The stock closed 0.5% higher at Rs1,554.80 apiece, having risen 3.45% intraday. Shares of Reliance Industries gained 0.37% to close at Rs2,183 apiece today. In a regulatory filing, the oil-to-telecom conglomerate said it received Rs13,150.7 crore as the […]
Reliance says FCCU unit at Jamnagar refinery shut, exports may be delayed
Reliance Industries on Wednesday said that a secondary unit at its export-focussed refinery in the western state of Gujarat has been shut since June 6, which may delay the shipment of some product cargoes. ”The Fluidized Catalytic Cracker Unit (FCCU) in our SEZ refinery at Jamnagar had to be taken for an emergency shutdown on […]
LPG cylinder users can now choose distributors of their own choice. Here’s how
The Ministry of Petroleum & Natural Gas today in a statementsaid that it is soon going to launched a new facility in which the LPG customers will have a choice deciding which distributors they want their LPG cylinders to refill from. The new facility will help the customers to choose their “Delivering Distributor” from the […]
Now domestic cooking gas customers can choose LPG cylinder supplier
New Delhi: To help improve service, state-run oil marketing companies (OMCs) will allow their customers to choose the domestic cooking gas distributor for liquified petroleum gas (LPG) cylinder refills. India had 28.74 crore LPG consumers as on 1 January, 2021. This move comes in the backdrop of Pradhan Mantri Ujjwala Yojana, a government programme that […]
Centre to auction unmonetized oil, gas fields of ONGC and OIL
The government has decided to auction unmonetized oil and gas fields of state-run Oil and Natural Gas Corp. (ONGC) and Oil India Ltd (OIL) to raise hydrocarbon production and improve energy security. Speaking at the launch of the third bid round of discovered small fields (DSF), petroleum and natural gas minister Dharmendra Pradhan on Thursday […]
Electric mobility startup Cell Propulsion raises $2 million
NEW DELHI : Bengaluru-based electric mobility startup, Cell Propulsion, has raised $2 million from a clutch of private equity investors, including Endiya Partners, GrowX Ventures, Huddle Accelerator and Micelio. Last September, the company raised $1 million in a pre-series A round of fundraising. With the current round, the total funds raised by the startup stood […]
Bitcoin Mining Council debuts as energy backlash increases
The Bitcoin Mining Council made its formal debut Thursday amid a growing debate over the amount of energy used in cryptocurrencies. “The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its core principles,” MicroStrategy Inc. Chief Executive Officer Michael Saylor, who helped to form the association, […]
A $43 billion jump in Gautam Adani’s fortune is fraught with many risks
A rally in the stocks of companies controlled by Indian billionaire Gautam Adani has added almost $43 billion to his wealth this year, catapulting him to the spot of the second-richest person in Asia. Some analysts say the gains are fraught with risk. Adani’s net worth of $76.7 billion got a boost from a 330% […]
‘Fake images’: Aviation minister Hardeep Puri’s clarification on viral airport photo
An old image of a mistranslated airport sign has started doing rounds on the internet again. The image reads “Farsh par khaana sakht mana hai,” translating to “Eating on the floor is strictly prohibited.” However, the translation mentioned is “Eating carpet is strictly prohibited.” The word “on” remains missing. Several internet users have discovered it […]
India-UAE flight suspension extended until 6 July: Emirates
The United Arab Emirates (UAE) today extended the suspension of passenger flights from India till 6 July to combat the spread of the coronavirus pandemic. The ban was initially imposed on 22 April, after a surge in COVID-19 cases in India. In a statement posted on its website, Emirates, the flag carrier of the UAE, […]
Covid-19: IATA blames international curbs for muted recovery in travel
NEW DELHI: World over, domestic travel demand improved sequentially in April, although it remained well below pre-pandemic levels, with many countries continuing to follow travel curbs, airline industry body The International Air Transport Association (IATA) said in a statement. “Because comparisons between 2021 and 2020 monthly results are distorted by the extraordinary impact of COVID-19, […]