Global biofuel alliance sets up three-pronged work plan, says govt

While it remains without a charter, or a permanent secretariat, the Global Biofuel Alliance (GBA) has adopted a work plan focused on assessing country landscapes, drafting policy frameworks, and conducting biofuel workshops, petroleum and natural gas ministry officials said. These were adopted as immediate goals at a key meeting of the body held on the […]

US approves Exxon-Pioneer deal, alleges shale founder colluded with Opec

U.S. regulators gave the go-ahead on Thursday to Exxon Mobil’s $60 billion purchase of Pioneer Natural Resources, but barred Pioneer’s former CEO from Exxon’s board on allegations he attempted to collude with OPEC to raise oil prices. Former Pioneer CEO Scott Sheffield coordinated efforts with U.S. shale oil producers to constrain their output and raise […]

Indian Oil resumes buying Russian crude oil delivered on Sovcomflot ships

Indian Oil Corp. resumed buying Russian crude oil delivered on a tanker owned by Sovcomflot PJSC this week, paving the way for a restoration of oil flows between Russia and India, after tightened US penalties had disrupted shipments. Suezmax tanker Vladimir Tikhonov discharged around 1 million barrels of Russian flagship Urals crude at Paradip port, […]

Tripura government imposes restrictions on sale of petrol and diesel

The Tripura government has imposed restrictions on sale of petrol and diesel from Wednesday. Why are restrictions imposed? A massive landslide in Assam’s Jatinga region has disrupted the goods train movement to Tripura, leading to the fuel shortage. Passenger train movement started on April 26 after restoration work. However, train service through Jatinga still remains […]

Indian Oil resumes buying Russian crude oil delivered on Sovcomflot ships

Indian Oil Corp. resumed buying Russian crude oil delivered on a tanker owned by Sovcomflot PJSC this week, paving the way for a restoration of oil flows between Russia and India, after tightened US penalties had disrupted shipments. Suezmax tanker Vladimir Tikhonov discharged around 1 million barrels of Russian flagship Urals crude at Paradip port, […]

Petrol sales up 12.3%, diesel sales continues to decline in April

India’s petrol consumption soared 12.3 per cent in April, but diesel sales continued to slide despite the country entering into hectic electioneering for general elections, preliminary data of state-owned firms showed on Wednesday. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, rose to 2.97 million tonnes in April […]

Commercial LPG cylinder price reduced by Rs 19; Here are the revised rates

Oil marketing companies cut prices of commercial LPG gas cylinders by Rs 19 with immediate effect from May 1. With this, Delhi retail sales price of 19 kg commercial LPG cylinder stood at Rs 1,745.50. This follows similar reductions in other metro cities across India. State-backed oil marketing companies (OMCs) slashed the prices of commercial […]