Category: Oil & Gas

NEW DELHI: Grappling a shortfall in tax revenues, the government has pressed cash-rich PSUs like Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) to pay a second interim dividend for the current fiscal after seeking regulatory nods. While IOC has called a board meeting on March 19 to consider paying a second […]

New Delhi: The Petroleum and Natural Gas Regulatory Board (PNGRB) approved a 37 per cent rise in tariff from April 1 for the pipeline that transports eastern offshore KG-D6 gas of Reliance Industries (RIL) to its customers. The tariff approved is almost half of what sought by East-West Pipeline, the operator of the pipeline. With […]

New Delhi: Grappling a shortfall in tax revenues, the government has pressed cash-rich PSUs like Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) to pay a second interim dividend for the current fiscal after seeking regulatory nods. While IOC has called a board meeting on March 19 to consider paying a second […]

Singapore: Oil prices fell on Friday amid growing investor jitters over the global economy, after the European Central Bank (ECB) warned overnight of continued weakness and as fresh data showed Chinese exports and imports slumped last month. With surging US supply also unsettling markets, international benchmark Brent crude oil futures were at USD 65.83 per […]

New Delhi: India can save a whopping Rs 1.8 trillion annually from reduced fuel costs, travel time savings as well as health benefits from reduced air pollution levels and increased physical activity if cycles replace use of two and four wheelers for short distance trips, a new study has concluded. This figure accounts for 1.6 […]

Singapore: Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth. International Brent futures were at USD 65.36 a barrel at 0446 GMT, up 29 cents, or […]

New Delhi: Jet fuel price was hiked on Friday by a steep 8.1 per cent to its costliest level this year as international oil prices rose, state-owned oil firms said. The price of Aviation Turbine Fuel (ATF) was hiked by Rs 4,734.15 per kilolitre, or 8.15 per cent, to Rs 62,795.12 per kl in the […]

New Delhi: Inland Waterways Authority of India (IWAI) and Indian Oil Corporation Limited (IOCL) signed a memorandum of understanding (MoU) on Tuesday to jointly develop infrastructure for meeting fuel, lubricating oil, LPG and natural gas requirements of national waterways. The MoU will provide for an understanding over general modalities of mutual cooperation leading to addressing […]

Jakarta: Indonesia has asked India to cut its tariff on refined palm oil to 45 percent, matching the levy faced by rival producer Malaysia, and has offered market access for Indian sugar in exchange, the trade ministry said on Saturday. Trade Minister Enggartiasto Lukita made the request during a meeting with Suresh Prabhu, India’s minister […]

New Delhi: Oil regulator PNGRB has rejected HPCL’s objections to consultations it had initiated to break stranglehold of PSUs on lucrative pipeline supplying jet fuel to Mumbai airport, saying the refiner will get a formal opportunity to make its case against the move. In a February 21 order, the Petroleum and Natural Gas Regulatory Board […]

Mumbai: Gas demand is expected to post a 3.5 per cent CAGR between 2018 and 2023 fiscals to 191-193 MMSCMD mainly on the back of the incremental demand expected to come from the fertiliser and city gas distribution (CGD) sectors, says a survey. According to Crisil, the conversion of naphtha-based urea plants, commissioning of new […]

New Delhi: Saudi Aramco, the world’s largest oil exporter, on Wednesday said it is in talks with Reliance Industries and other Indian companies for investing in petrochemicals and refinery projects in the country. The Saudi national oil company, which along with its partner UAE’s Adnoc has taken a 50 per cent stake in a planned […]