Dubai: COP28 President Sultan Al Jaber defended his role in hosting this year’s UN climate summit on Monday and insisted he understood and respected the science of climate change. In a news conference, Al Jaber responded to a Dec. 3 report in the Guardian newspaper on comments he made last month on the phase-out of […]
Category: Oil & Gas
RPL case: SAT quashes Sebi’s order against Mukesh Ambani, 2 others
New Delhi: The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by Sebi on Reliance Industries Ltd’s Chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. The ruling has come after all the […]
Lula says Brazil never to be full member of OPEC+, only observer
Brazil will never join the OPEC+ group of oil-producing nations as a full member and instead only seeks to participate as an observer, Brazilian President Luiz Inacio Lula da Silva said on Sunday. Lula’s remarks to reporters at the U.N. COP28 climate summit in Dubai clarified his statements a day earlier that Brazil would “participate” […]
India resumes imports of Venezuelan oil, Reliance seeks direct deal
Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said. The resumption in trade between the OPEC producer and what was the second […]
Adani-Total Gas launches green hydrogen blending pilot in Ahmedabad
New Delhi: Adani Total Gas Ltd, the city gas joint venture of billionaire Gautam Adani’s group and French energy giant TotalEnergies, has started blending green hydrogen in natural gas they sell to households for cooking purposes and industries as fuel in Ahmedabad. The percentage of green hydrogen, produced by splitting water using renewable electricity, to […]
Three injured as scrap shop in Thane catches fire due to cylinder blast
A scrap shop caught fire due to a cylinder blast Maharashtra’s Thane on Saturday morning, reported news agency ANI. Three people were injured and are undergoing treatment at a nearby hospital.
Explained | Why OPEC+ members find it hard to agree on oil production quotas
London: OPEC+ has postponed its November meeting by a few days and sources within the group say production targets were one of the key flashpoints of disagreement. Why are quota discussions so fraught? OPEC+ negotiations over production quotas have often been difficult in the past. Oil production tends to vary month by month, making it […]
Russia has sold nearly all its oil well above the West’s price cap
Moscow: Russia has succeeded in selling almost all of its oil well above a Western-imposed price cap of $60 per barrel, a Russian government official said on Thursday. The European Union, G7 countries and Australia introduced the price cap on Russian oil last December, aiming to curb Russia’s ability to finance the conflict in Ukraine. […]
OPEC+ meeting delayed over dispute over some members’ output
OPEC+ postponed its policy meeting after a disagreement emerged around current production levels of some members and possible cuts associated with them, OPEC+ sources said. Three OPEC+ sources said this was linked to African countries. OPEC+ said after its last meeting in June that the 2024 output quotas of Angola, Nigeria and Congo were conditional […]
India plans to ask ONGC to consider rights issue to fund HPCL: Report
New Delhi: India plans to ask state-run Oil and Natural Gas Corp to consider launching a rights issue to help fund green projects at refining arm Hindustan Petroleum Corp, two sources said, an exercise that could raise about $1.9 billion. The comments come after India’s finance minister announced a plan this year to provide equity […]
Telangana polls: Congress manifesto assures free internet for students, Rs 4,000 old age pension, LPG at Rs 500
Hyderabad: AICC chief Mallikarjun Kharge on Friday released Congress party’s manifesto which includes six guarantees and various declarations for Telangana, including Rs 4,000 old age pension and LPG at Rs 500. After releasing the 42-page manifesto, ‘Abhaya Hastham’, the Congress chief said the mood of the people of Telangana is such that the grand old […]
Diesel vehicles entering Delhi despite ban, says transport minister
New Delhi: Delhi Labour Minister Raaj Kumar Anand has flagged the continuous entry of diesel vehicles into the national capital despite a ban on their entry under GRAP Stage-IV guidelines during an inspection of the Singhu border. Restrictions under GRAP Stage IV, including a ban on all construction work and the entry of polluting trucks […]