Category: Oil & Gas

NEW DELHI: Even as crude oil rates have jumped by more than 1.5% during the last seven days, state-run fuel retailers today refrained from changing the price of petrol and diesel for the second consecutive day today. A litre of petrol today costs ₹70.33 in Delhi, ₹75.97 in Mumbai, ₹72.65 in Bengaluru, ₹73 in Chennai, […]

Houston/Mexico City/Moscow: Venezuelan oil company PDVSA is looking to double exports to India as US sanctions hobble deliveries to the United States and Europe. The United States and most Western countries have recognized opposition leader Juan Guaido as Venezuela’s head of state, but President Nicolas Maduro retains the backing of Russia and China as well […]

NEW DELHI: In a boost to firms like ONGC and Reliance Industries, the government is likely to raise the price of domestically produced natural gas by over 10% to over $3.72 per million British thermal unit with effect from April 1, sources in know of the development said. The price of gas produced from difficult […]

The political will and a well-meaning execution machinery was what delivered the astounding results of the Pradhan Mantri Ujjwala Yojana (PMUY) in distributing deposit-free LPG cylinder connections to women. It is rare to find a scheme that has so successfully involved stakeholders down to the level of panchayats and had a perfect programme governance. It […]

The National Democratic Alliance (NDA) government is banking on its marque schemes such as the Pradhan Mantri Ujjwala Yojana (PMUY), which provides free cooking gas connections to poor families, to put it on a home run in the general elections. Not surprisingly, the political messaging around the scheme hailed as NDA’s version of the Mahatma […]

OPEC reduced its estimate for the amount of crude the world needs it to pump this year as US production continues to thrive and the demand outlook falters. The Organization of Petroleum Exporting Countries, which produces about 40% of the world’s oil, already curbed output by the most in two years last month as it […]

According to the World Bank, lack of access to energy is a fundamental barrier to progress in many parts of Africa and South Asia and has an impact on a wide range of development indicators such as health, education, food security, gender equality, livelihoods and poverty eradication. Energy access has been at the core of […]

Bengaluru: Oil India Ltd (OIL) on Tuesday posted nearly 75% surge in its quarterly profit, handily beating analysts’ estimates, boosted by gains from its crude oil segment. Net profit came in at ₹1,233 crore ($174.24 million) for the three months ended 31 December, compared with a profit of ₹705 crore a year earlier, the oil […]

MUMBAI: State-run Bharat Petroleum Corporation Ltd (BPCL) will bring to India the much-awaited natural gas from its Rovuma basin in Mozambique in the next five years, said officials aware of the development. BPCL will bring in 1 million metric tonnes per annum (mmtpa) of gas from the Rovuma field where its upstream arm, Bharat Petro […]

Mumbai: Oil India Ltd’s (OIL) divestment could happen shortly, said the company’s chairman and managing director Utpal Bora.

NEW DELHI: The Abu Dhabi National Oil Company (ADNOC) is looking to expand its presence in India by investing in refining and petrochemicals and strategic petroleum reserves, said Sultan Ahmed Al Jaber, Minister of State, United Arab Emirates (UAE), and Chief Executive Officer (CEO) of ADNOC.

NEW DELHI: Amid continued volatility in the crude oil market, the price of petrol has jumped by about 50 paise per litre while the price of diesel is up by about ₹2 per litre during the last 30 days. State-run fuel retailers today marginally increased the prices of petrol and diesel by 5 paise and […]