Category: Oil & Gas

NEW DELHI : Oil PSUs such as IOC and ONGC are implementing about ₹3.57 trillion worth of projects across the entire hydrocarbon value chain that will further enhance energy accessibility, create jobs and boost the economy, the Petroleum Ministry said on Monday. In Twitter posts, the Ministry of Petroleum and Natural Gas said out of […]

LONDON : Oil prices rose on Monday, supported by tighter supplies and a string of data expected to show economic recovery across the globe and despite a spike in coronavirus cases in the United States and other countries. Brent crude was up 73 cents, or 1.7%, to $43.53 per barrel by 0808 GMT. U.S. West […]

NEW DELHI : After being left untouched for seven days, the price of diesel was increased once again by a margin of 25 paise a litre. Petrol price, however, remain unchanged. In Delhi, the price of diesel has now touched a new all-time high while petrol continues to be at a 19-month high. From June […]

Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States. Brent crude rose 11 cents, or 0.3%, to $42.91 a barrel by 0109 GMT […]

NEW DELHI : Petrol and diesel prices were left unchanged for the sixth consecutive day today. Earlier for about three weeks beginning June 7, the price of petrol was increased by ₹9.17 a litre and that of diesel by ₹11.14 a litre. As petrol price remains on a 19-month high and diesel at lifetime high […]

Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery. The United States reported more than 55,000 new coronavirus cases on Thursday, a new daily […]

NEW DELHI : Even as Brent crude oil rates are hovering around the $42 a barrel mark, state-run oil firms have not changed the price of petrol and diesel for the fourth day today. Earlier for about three weeks beginning June 7, the price of petrol was increased by ₹9.17 a litre and that of […]

Crude prices fell on Friday as the resurgence of the coronavirus globally and in the United States, the world’s largest oil consumer, dimmed the prospects of fuel demand recovery. Brent crude futures were down 37 cents, or 0.9%, at $42.77 a barrel as of 0042 GMT, and U.S. West Texas Intermediate (WTI) crude futures fell […]

Shares of Petronet LNG Ltd are just 6% away from its highs in January on NSE. Petronet imports and regasifies LNG (liquefied natural gas). In keeping with the performance of other companies, Petronet too felt covid-19 lockdown’s adverse impact for the March quarter. Reported earnings before interest, tax, depreciation and amortisation (Ebitda) at almost Rs698 […]

MUMBAI : For Indraprastha Gas Ltd (IGL), India’s largest compressed natural gas distribution company, being under lockdown not only meant a nearly 80% impact on its trading volumes, but also a change in consumer pattern. In an interview for Mint’s Pivot or Perish series, A.K. Jana, managing director, IGL, said that in sync with consumer […]

India’s petroleum product consumption has sharply recovered from the lowest slump recorded since 2007, after the world’ longest lockdown ended and reached 88% last month, the petroleum ministry said on Wednesday. Also, the demand for bitumen used in road construction has gone up by 32% in June as compared to last year, due to the […]

NEW DELHI : India’s latest oil and gas block bid round attracted only 12 bids for the 11 areas on offer, with 10 of them getting single bids from state-owned ONGC and Oil India Ltd, upstream regulator DGH said. The government had offered 11 blocks for exploration and production of oil and gas in the […]