Category: Oil & Gas

US President Joe Biden said that the country’s fuel supply will take time to normalise as the operator of a key fuel pipeline has restarted operations after a cybersecurity attack. “This morning Colonial reported that fuel is beginning to flow to a majority of the markets that they service and they should be reaching full […]

TOKYO (Reuters) -Oil prices fell 1% on Thursday as India’s coronavirus crisis deepened, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound in global demand. Brent crude was down 74 cents, or 1.1%, at $68.58 a barrel by 0655 GMT, after rising 1% on Wednesday. […]

Anil Agarwal-led Vedanta Limited reported a consolidated net profit of Rs 6,432 crore in the March quarter against a loss of Rs 12,521 crore in the corresponding period last year on the back of increased sales. Net sales of the company stood at Rs 27,874 crore in the period under review, up 43 per cent […]

State-owned Oil and Natural Gas Corporation (ONGC) has agreed to do away with charging users a marketing margin on the gas it plans to produce from its KG basin field but refused to lower the minimum rate, according to tender documents. ONGC, India’s top oil and gas producer, last month sought bids for sale of […]

NEW YORK (Reuters) – Oil prices rose to an eight-week high on Wednesday as U.S. crude exports plunged and on signs of a speedy economic recovery and upbeat forecasts for energy demand. Brent futures rose 77 cents, or 1.1%, to settle at $69.32 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 80 cents, […]

Oil prices jumped on Wednesday, putting Brent on track for its highest close in almost two years on signs of a speedy economic recovery and upbeat forecasts for energy demand. Brent futures rose $1.12, or 1.6 per cent, to $69.67 a barrel by 10:44 am EDT (8.14 pm IST), while US West Texas Intermediate crude […]

As petrol crossed Rs 100 a litre mark in many parts of the country, the Congress has taken a jibe at the government saying, Vikas is back after elections. Congress General Secretary Randeep Singh Surjewala on Wednesday tweeted, “Vikas had to be suspended briefly due to state elections. Parivar of “Reformists” & “Positivists” will be […]

Petrol and diesel prices on Wednesday were hiked by 25 paise per litre each, the third increase this week, propelling petrol price to cross Rs 100 per litre mark in more cities including Bhopal and Indore. Petrol and diesel prices are now at record high across the country, price notification of state-owned fuel retailers showed. […]

MELBOURNE (Reuters) – Oil prices rose on Wednesday, extending overnight gains, after industry data showed a drop in U.S. crude inventories, which reinforced OPEC’s robust demand outlook, and as the shutdown of the biggest U.S. fuel pipeline headed into a sixth day. U.S. West Texas Intermediate (WTI) crude futures rose 21 cents, or 0.3%, to […]

Fuel shortages worsened in the southeastern United States on Wednesday, as the shutdown of the largest U.S. fuel pipeline network entered its sixth day and gasoline stations ran out of supply in some cities. A ransomware attack on the Colonial Pipeline last week halted 2.5 million barrels per day of fuel shipments in the most […]

India’s fuel demand slumped 9.4 per cent in April when compared to the preceding month as lockdowns clamped in several states to curb the second wave of coronavirus sweeping the nation pummelled demand, official data showed on Wednesday. Fuel consumption fell 9.38 per cent to 17.01 million tonnes in April from 18.77 million tonnes in […]

The Colonial Pipeline on Wednesday (local time) announced that it has begun a restart of its operations, days after a cyberattack forced the company to shut down, leading to gas shortages in the United States. According to The Hill, it began the restart at about 5 pm on Wednesday, but it will take “several days” […]