Category: Oil & Gas

The Government is considering bringing natural gas under the Goods and Services Tax said Tarun Kapoor, Secretary, Ministry of Petroleum and Natural Gas. Commenting on the petroleum products that will be brought under GST, Kapoor said, “The first product which we are targeting is gas so if that happens that would be a good beginning […]

Oil India Limited (OIL) has reported a blow out during work over operations at Baghjan Oilfield in Tinsukia district, Assam. The incident occurred at a producing well called Baghjan 5 on Tuesday morning. A blowout means that there has been an uncontrolled release of crude oil and/or natural gas from an oil well or gas […]

The heavy engineering arm of Larsen & Toubro (L&T) has dispatched critical reactors, coke drums and sub-assemblies of nuclear fusion reactor to their global clients during the lockdown period in India. During the lockdown period, a final consignment of 4 (out of total package of 16) ARDS Reactors for refinery modernization project for clean, environment […]

Oil prices fell on Wednesday on concerns over how quickly fuel demand will recover even as lockdowns ease in many countries with falling coronavirus cases, with US-China tensions adding to pressure. Brent crude futures fell 40 cents, or 0.7 per cent, to $35.77 by 0009 GMT, after falling 1.8 per cent on Tuesday. US West […]

Oil prices rose on Tuesday on clear signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world. United States (US) West Texas Intermediate (WTI) crude futures gained 2.3 per cent, or 75 cents, to $34.00 as of 0057 GMT. […]

Oil prices eased on Monday on concerns over rising tensions between the United States and China over Beijing’s plans to impose security laws on Hong Kong and the possibility of sanctions from Washington. Oil prices have risen sharply in recent weeks as an easing of coronavirus restrictions has led to increased demand, but the tensions […]

Oil prices were on the rise on Friday, heading for a fourth straight week of gains, amid more evidence that fuel demand is recovering as countries ease business and social restrictions that were imposed to counter the coronavirus pandemic. Brent crude was up 14 cents, or 0.4%, at $36.20 a barrel by 0040 GMT, after […]

Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries have got 6.8-crore free cylinders during the lockdown months, according to the Ministry of Petroleum and Natural Gas. An official statement said this is part of the economic response to Covid-19 launched through the Pradhan Mantri Garib Kalyan Package. Under the scheme, the Ministry of Petroleum and Natural Gas […]

Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan reviewed pipeline projects worth approximately ₹8,000 crore on Thursday. An official statement said that these projects are under various stages of implementation. Pradhan also pitched for Aatmanirbhar Bharat in pipeline projects and called for complete indigenisation. In a series of tweets, Pradhan said, “GAIL is […]

Oil prices edged higher on Thursday after data showed US crude inventories fell again, easing concern about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains. Brent crude futures for July delivery were trading up 17 cents, or 0.5%, at $35.92 per barrel at 0024 GMT. US […]

Ajay Kumar Dixit, Chief Executive Officer of Cairn Oil and Gas, will end his term at the company helm a little over a year after taking charge. Dixit was appointed as the CEO in mid-April 2019, his tenure comes to a close in this month end. A company statement said that Dixit will superannuate from […]

At ₹53,125 crore, India’s biggest equity offering by Reliance Industries Ltd, in the form of a rights issue, opened on May 20. The rights entitlements (RE) for the issue closed at a 40 per cent premium. The counter closed the day at ₹212 against the previous close of ₹151. The difference between the closing price […]