Category: Oil & Gas

A blast at an eatery in eastern China’s Jiangsu province killed one and wounded another on Monday, local officials said, reigniting public concerns about the safety of cooking gas tanks after a series of similar accidents last month. A tank at a barbecue restaurant exploded at 6:02 am (2202 GMT) on Monday, authorities of Yancheng […]

Oil regulator PNGRB has rejected Adani Total Gas Ltd’s application for a licence to retail CNG to automobiles and piped gas to household kitchens in Noida, on the outskirts of the national capital, on grounds that it does not meet criteria. The Petroleum and Natural Gas Regulatory Board (PNGRB) in an order dated July 14 […]

India’s petrol and diesel consumption fell in the first half of July as fury of monsoon flipped travel plans and reduced the demand in the agri sector, preliminary industry data showed. Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 15 per cent to 2.96 million […]

Oil and Natural Gas Corporation (ONGC) will have a new director to spearhead its new energy, petrochemicals and corporate strategy, as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth. A new director for strategy and corporate affairs has been created, according to an office order from the company. This […]

About 56 lakh farmers are set to lose subsidies that they had availed last year under the Raitha Shakti scheme as the government is likely to put a pin on the scheme this fiscal. Raitha Shakti was introduced by former Chief Minister Basavaraj Bommai in 2022, under which farmers were eligible for diesel subsidy at […]

Kuwait raised the official selling price (OSP) for Kuwait Export Crude (KEC) to Asia in August by 30 US cents from the previous month to $2.25 a barrel above the average of Oman/Dubai quotes, a price document reviewed by Reuters showed on Wednesday. The producer also increased the August Kuwait Super Light Crude (KSLC) OSP […]

At least six people were killed and 10 others injured on Sunday when a three-storey building collapsed due to a gas cylinder explosion in Pakistan’s Punjab province, officials said. The three-storey hotel building located on the Grand Trunk Road in Punjab’s Jhelum collapsed after the cylinder exploded in the kitchen, they said. Six people were […]

Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of […]

Iran’s Revolutionary Guards seized a tanker holding 900 metric tons of “smuggled fuel” and 12 crew members based on a court order, a report by the semi-official Fars news agency said on Friday. “A vessel carrying 900 tons of smuggled fuel with 12 crew members was seized by the Revolutionary Guards’ Navy patrol vessels in […]

The steep discounts on Russian crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continue to remain ‘opaque’ and higher than normal, sources said. Russia bills Indian refiners at a price shade less than the $60 per barrel price cap imposed by the West […]

Indian Oil Corp (IOC) would raise up to Rs 22,000 crore through a rights issue of shares, the state-owned refiner said on Friday. Last month, Reuters reported that the centre had kicked off its plan to fund energy transition projects of three big state refiners — IOC, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum […]

After ‘Chotu’, Indian Oil is all set to launch ‘Munna’ in the North Eastern region soon, a top official said on Friday. The PSU is also focusing on infrastructure development in the region, including setting up LPG bottling units in all the seven states, he added. Addressing a press conference here, executive director and state […]