Category: Oil & Gas

Petrol prices at pumps across the country have touched their highest levels during the past 13 months due to a steady rise in crude oil prices in the international market. In Bengaluru, petrol prices stood at Rs 77.79 a litre on Thursday, the highest since November 15, 2018, when petrol in the city traded at […]

State-owned Oil and Natural Gas Corporation (ONGC) on Thursday walked away with all the seven oil and gas blocks on offer in the latest bid round that saw just eight bids coming in. ONGC signed contracts for the seven blocks at an event where Oil Minister Dharmendra Pradhan and other ministry officials were also present. […]

CPI(M) general secretary Sitaram Yechury on Wednesday slammed the government over the hike in train fares and the increase in cost of LPG cylinders. The government on January 31, raised train fares marginally by one paise to four paise per kilometer depending on the travel class. It also hiked LPG cylinder rates by Rs 19 […]

After the rise in price on Wednesday, a refill of the cooking gas will now cost Rs 714 in Delhi, Rs 734 in Chennai, Rs 747 in Kolkata and Rs 684 in Mumbai. It will cost Rs 697.50 per cylinder in Bangalore, effective from today. Jet fuel price was hiked by a moderate 2.65 per […]

Jet fuel price was hiked on Wednesday by a moderate 2.65 per cent to Rs 66,266 per kilolitre across India after international oil prices rose in the past fortnight by over 3 per cent. The price of Aviation Turbine Fuel (ATF) was hiked by Rs 64,324 per kilolitre, or 2.61 per cent month-on-month in the […]

India’s economy is suffering its worst cyclical downturn for more than a decade, which is weighing heavily on global oil consumption, and until the economy improves, prices are unlikely to see a sustained increase. If the monetary and fiscal stimulus succeeds in pushing the economy out of its current trough, faster growth would play an […]

Saudi Aramco’s share price jumped 10% for the second consecutive day, hitting 38.7 riyals ($10.32) in a pre-market auction, Refinitiv data showed, suggesting the company will hit a $2 trillion market value when it starts trading on Thursday. The state-owned oil giant’s shares surged the maximum permitted 10% above their IPO price on their Riyadh […]

In a shocking diversion of cooking gas cylinders meant for BPL families under the flagship Pradhan Mantri Ujjwala Yojana (PMUY), data from a CAG audit report showed that about 2.61 lakh BPL consumers bought two subsidised LPG refills each in a single day in about three lakh instances from two state-owned oil companies. In some […]

In one of the stories in Aesop’s Fables, a villager and his wife owned a hen that laid a golden egg every day. They presumed that the hen must contain a great lump of gold in its womb, and in order to get the gold, they killed her. Having done so, they found, to their […]

Reliance Industries and Abu Dhabi National Oil Company (ADNOC) on Tuesday signed an agreement to explore setting up of a facility in UAE to produce ethylene dichloride, which goes into the making of PVC that is commonly used in pipes, tubes and cable. “Under the terms of the agreement, ADNOC and RIL will evaluate the […]

Petrol price on Monday hit Rs 75 a litre mark for the first time in more than a year as oil firms raised rates to make up for rising cost of production. Petrol price was on Monday hiked by 5 paise per litre and diesel by 10 paise a litre, according to daily price notification […]

When shares of Saudi Arabia’s national oil company begin trading on Wednesday after the world’s largest initial public offering, the stars will be aligned to ensure that the stock price holds up. Aramco sold $25.6 billion of shares at 32 riyals each, the top of the range at which they were marketed, and the company […]