Category: Oil & Gas

The government on Friday issued letters of intent to 12 companies which bagged 50 Geographical Areas (GAs) that were on offer under the tenth round of city gas distribution (CGD) bidding. The major players that won new areas include Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL), Gujarat Gas, Atlantic, Gulf & Pacific Company (AG&P) […]

The National Stock Exchange (NSE) on Thursday said it will launch its crude oil futures contract on Friday, and has signed an agreement with ICIS, a leading global market information provider for the energy and petrochemical markets, to license its BFOE (Brent-Forties-Oseberg-Ekofisk) market data. The NSE has worked closely with ICIS to design a robust […]

India’s diesel consumption may rise to a record this year on increasing infrastructure spending by the current government as it tries to hold off challengers in general elections that will be held over April and May. Surging diesel consumption in India, the world’s third-largest oil user, underscores the country’s importance as a driver of global […]

Shares of Oil and Natural Gas Corporation (ONGC) were trading 2 per cent higher at Rs 146 apiece on the BSE, also the top gainer among the benchmark indices S&P BSE Sensex and Nifty 50 at 10:20 am. The stock of state-owned oil exploration & production (E&P) company adjusted for an interim dividend of Rs […]

Domestic cooking gas (LPG) price was Thursday hiked by Rs 2.08 per cylinder and non-subsidised gas by Rs 42.50 per bottle, Indian Oil Corporation (IOC) said. The increase comes after three straight monthly reduction in rates. The rise has been necessitated due to tax impact on increased market rate of the fuel, IOC said in […]

Oil futures rose more than 2 percent on Wednesday after a surprising plunge in U.S. crude inventories and as OPEC’s de facto leader Saudi Arabia appeared unfazed by pressure from U.S. President Donald Trump to prevent oil prices from rising. Crude inventories fell by 8.6 million barrels last week, compared with analysts’ expectations for an […]

At an energy conference in New Delhi in March 2015, Prime Minister Narendra Modi had set out a road map for reducing India’s crude oil imports by 10 per cent by 2022. This at a time when almost 77 per cent of the country’s fuel requirements were met via imports. Four years later, the “2022 […]

Brent oil edged up to $65 a barrel on Tuesday as Saudi Arabia and the rest of The Organization of the Petroleum Exporting Countries (Opec) were expected to stick to their production cuts, despite renewed pressure from US President Donald Trump. Prices slid on Monday, when many traders were out of the office attending IP […]

A total of 12 companies – including Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL), Gujarat Gas and Gail Gas — managed to get 50 Geographical Areas (GAs) that were on offer under the tenth round of city gas distribution (CGD) bidding. The round, launched on November 8, is likely to see investments to the […]

EID Parry, the sugar manufacturing company under Murugappa Group, is in talks with Indian Oil Corporation and other firms to explore opportunities in producing Compressed Biogas (CBG), following the central government’s announcement in October to start 5,000 CBG plants to curb oil imports. It may require a long-term contract with the oil marketing firm and […]

US President Donald Trump resumed his attacks on OPEC, saying the global economy is too fragile to handle a price hike and urging the cartel to “relax and take it easy.” Trump’s war of words with the Organization of Petroleum Exporting Countries punctuated big price swings last year, as he pressured the group to keep […]

Concerns about world economic growth following weak economic data from both US and Europe are likely to weigh on investor sentiment on Friday. Back home, stock-specific action, crude oil prices and movement of rupee against the US dollar will also play a key role. At 08:20 am, Nifty futures on the Singapore Exchange (SGX) were […]