Category: Oil & Gas

New Delhi: The government is likely to appoint a new Chairman and Managing Director of GAIL India after the superannuation of BC Tripathi, the current CMD, on January 31. Ashutosh Karnatak, Director (Projects), who is the senior most, is in the race to head the country’s biggest natural gas firm. Sources said Tripathi, who already […]

New Delhi: Saudi Arabia’s Energy Minister Khalid al-Falih said state-run Saudi Aramco’s talks with Reliance Industries to buy a minority stake in the Indian conglomerate’s refining assets have not stalled. “The two companies, Reliance and Aramco, are talking with a lot of goodwill, with good intention,” al-Falih told Reuters in an interview on Thursday.

Thanjavur: Farmers belonging to Cauvery Padugai Pathukappu Koottiyakkam (Cauvery basin protection federation) took out a rally and staged a demonstration before the collectorate here on Tuesday demanding dropping of the proposed hydrocarbon projects in the delta and declaring the delta as a protected agro zone. The rally started from Tantex rountana and ended before the […]

New Delhi: The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Friday. Electric vehicles are not expected to make a dent on crude demand in India and elsewhere, IEA’s Fatih Birol also said, adding […]

Kolkata: Facts first. Crude oil prices rose 0.61 per cent to Rs 4,157 per barrel in futures trade on July 12 as speculators raised their exposure, tracking a rebound in global markets. On the Multi Commodity Exchange, crude for July delivery went up by Rs 25, or 0.61 per cent, to Rs 4,157 per barrel […]

Kolkata: The Organization of the Petroleum Exporting Countries (OPEC) may have signed a pact to keep crude supply under control, but there may still be a surplus in the market as the world demand for crude is projected to drop next year. At least that’s what OPEC indicated on Thursday. As a policy, OPEC supports […]

Thoothukudi: The Ramanathapuram-Thoothukudi pipeline project to ensure supply of natural gas for industrial usage in Thoothukudi faced stiff opposition from the farmers, who wanted the pipeline to belaid in alternate route without affecting their farm fields. The Ramanathapuram-Thoothukudi gas pipeline project, being implemented as part of the Ennore-Thiruvallur-Bengaluru-Puducherry-Nagapatinam-Madurai-Thoothukudi (ETBPNMTPL) by the Oil and Natural Gas […]

NEW DELHI: India’s top refiner Indian Oil Corp is close to chartering a Panama flagged ship rather than an Indian vessel in its first five-year tender to hire an oil tanker with scrubbers that remove sulphur emissions, sources with knowledge of the matter said. In December last year, state-owned IOC issued a global tender and […]

New Delhi: State-run ONGC will neither be disinvested nor privatised but only oilfields discovered by it are being monetised through a transparent bidding process to ensure the country’s energy security, Petroleum Minister Dharmendra Pradhan said in the Rajya Sabha on Wednesday. During Question Hour, he also said that synergy between ONGC and HPCL is fully […]

An Abu Dhabi-based company that builds drilling platforms for oil giant Saudi Aramco plans to diversify into renewable energy by supplying gear for offshore wind farms. National Petroleum Construction Co. is bidding for wind projects in the North Sea and monitoring wind-equipment tenders coming out of India and Southeast Asia, Chief Executive Officer Ahmed Al […]

Karuizawa: Saudi Energy Minister Khalid al-Falih said on Saturday that he hopes oil producers will be able to balance the oil market before next year. “We hope that we will balance the market before next year. We are working on it,” Falih told reporters on the sidelines of a meeting of G20 energy and environment […]

Oil demand is shriveling as the trade war between the US and China trips up the global economy. Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley. Indicators including the profit from making plastics have been sinking while refining […]