Category: Oil & Gas

New Delhi: Amid the nation’s severe volatility concerns in crude oil prices, the government is likely to increase oil imports from Russia. It is also likely that India’s oil marketing firms may hike their investment portfolios in Russia’s oilfields. The government’s move comes at a time when oil price fluctuations build anxiety in the energy […]

Kolkata: The coordinated drone strike on September 14, on Saudi Arabia’s key oil facilities expected to add a geo-political risk premium to oil prices and is credit negative for Indian consumers. “Oil prices should factor in sizeable geo-political risk premium, which will be negative for Indian consumers. Industrial consumers may face pressure on the profitability […]

Tokyo: Oil fell more than 1 per cent on Tuesday as the market hung on tenterhooks following attacks on Saudi Arabian crude facilities that cut the kingdom’s production in half and sent prices soaring by the most in decades. The attack heightened uncertainty in a market that had become relatively subdued in recent months due […]

Chennai: Seeking to promote electric vehicles, the Tamil Nadu government on Monday announced its policy for the sector offering a slew of sops, including investment subsidy and waiver of various taxes and duties. Chief Minister K Palaniswami released the Tamil Nadu Electric Vehicle Policy 2019 which offered a number of incentives for the manufacturers to […]

Mumbai: Four people were killed and three others were injured in a fire that broke out at the cold storage unit of Oil and Natural Gas Corporation’s Uran plant in Navi Mumbai on Tuesday morning. Fire-fighting operations are still on. The exact cause of the blaze is yet to be ascertained. ONGC tweeted that the […]

Mumbai: One person was killed while four others sustained grievous injuries after an LPG cylinder exploded at MHB colony at Malwani in Malad on Sunday. The injured were rushed to Kandivali Shatabdi Hospital. Out of four injured, one is said to have received 80 per cent burn injuries. According to the Brihanmumbai Municipal Corporation’s (BMC) […]

Tokyo: Oil prices on Friday were set for their biggest weekly gains since early July, boosted by a decline in US inventories and a looming hurricane in Florida, while new signs of trade talks between the United States and China emerged. Brent crude was up 8 cents, or 0.1 per cent, at USD 61.16 a […]

New Delhi: Jet fuel price on Sunday was cut by about 1 per cent to a four-month low on softening international oil prices, according to state-owned fuel retailers. Market-priced or non-subsidised cooking gas (LPG) price was however raised by Rs 15.5 per cylinder, oil firms said in a price notification. Aviation Turbine Fuel (ATF) price […]

Iran: The Indian captain of Iranian supertanker Grace 1, which was at the centre of a diplomatic standoff, no longer wants to keep command of the ship, which is in need of repairs that could impede its immediate departure from Gibraltar, the sailor’s lawyer said on Friday. The tanker — and its 2.1 million tonnes […]

Gibraltar: An Iranian supertanker hauling USD 130 million worth of light crude oil that the US suspects to be tied to a sanctioned organisation has lifted its anchor and begun moving away from Gibraltar, marine traffic monitoring data showed late Sunday. The trail left by GPS data on Marinetraffic.com, a vessel-tracking service, showed the Iran-flagged […]

Mumbai: State-run Mahanagar Gas on Friday said that due to a major technical problem at ONGC’s gas processing facility at Uran, across the Eastern coast has impacted supply of CNG in the city. This has resulted in major disruption of gas supply to MGL’s City Gate Station at Wadala. “The gas supply to MGL has […]

New Delhi: Crude oil futures on Tuesday fell 0.03 per cent to Rs 3,902 per barrel after participants tightened their bets tracking a muted trend in domestic markets. On the Multi Commodity Exchange, crude oil for delivery in August contracts was trading lower by Re 1, or 0.03 per cent, to Rs 3,902 per barrel […]