Category: Oil & Gas

Oil prices slid nearly $1 a barrel on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures were down 73 cents, or 2.4 per cent, at $30.24 a barrel by 0114 […]

The Ministry of Petroleum and Natural Gas has formed a committee to review existing production sharing contracts (PSC) and suggest changes in their implementation to boost domestic crude oil and natural gas output. “In view of the current low oil and gas price environment, there is a need to find innovative ways of attracting investment […]

India’s fuel consumption fell almost 46 per cent in April as all petroleum products, except LPG, saw massive demand erosion following the nationwide lockdown that halted economic activity and travel. The demand, which showed signs of pick up in the last 10 days of April after the government allowed resumption of economic activity beyond the […]

Reliance Industries Ltd (RIL) has fixed May 14 as the record date to determine the shareholders eligible to apply for its upcoming rights issue. The company also had received in-principle approvals from BSE and the National Stock Exchange of India Ltd for the proposed rights issue. It has obtained International Securities Identification Number (ISIN), RIL […]

Oil prices rose on Friday as more countries began easing lockdowns set in place to stop the coronavirus spreading, giving hope that demand for fuels will pick up after the economic devastation caused by the pandemic. Brent crude was up 47 cents, or 1.5 per cent, at $29.33 a barrel by 0121 GMT, having fallen […]

Shares of Reliance Industries Ltd (RIL) rose nearly 2.6 per cent in early trade, buoyant on the news of its wholly-owned subsidiary Jio Platforms raising Rs 11,367 crore from private equity firm Vista Equity Partners. At 9.40 am, the company’s share price was up 2.63 per cent at Rs 1,546.95 on the BSE, which was […]

Oil prices fell on Wednesday, ending a multi-day streak of gains, as investors focused on oversupply risks after United States (US) crude inventories rose more than expected amid a slump in demand caused by restrictions to halt the coronavirus spread. US West Texas Intermediate (WTI) crude futures fell as much as 2.1 per cent to […]

PALAK SHAH The crude oil fiasco at the MCX is giving renewed hopes to both NSE and BSE. Both the exchanges are organising webinars to attract oil traders on to their respective platforms that have not seen much churn since launch last year. April month crude oil futures on the MCX was settled at negative […]

To ensure that the country does not miss any opportunity to generate its own fuel and bring down import dependence, the government proposes to use surplus foodgrains for ethanol production. Public sector oil refining-cum-marketing companies are awaiting formal guidelines, which are expected any time soon. The decision to use damaged foodgrains for making ethanol shows […]

With the gradual easing of the lockdown, States and UTs are now gearing up for a battle on the fiscal front. And floored by the double-whammy of mounting Covid-related expenses and anaemic revenue flow, many have realised that they cannot afford to wait to bridge their yawning fiscal gap. In an early indication of things […]

The Central Government has increased excise duties by ₹ 10 per litre on petrol and ₹ 13 per litre on diesel. The retail sale prices of petrol and diesel will remain unchanged as oil companies will absorb this hike, according to officials in the know. This excise hike will have no impact on the consumer […]

Oil prices climbed in early trade on Tuesday, adding to gains in the previous session, on expectations that fuel demand will begin to pick up as some parts of the United States (US) and nations in Europe and Asia start to ease coronavirus lockdown measures. West Texas Intermediate (WTI) crude futures rose as much as […]