Category: Oil & Gas

Islamabad: The Pakistan government has hiked the prices of petrol and diesel by Rs 5.15 per litre and Rs 5.65 per litre respectively, even as the country is facing a severe financial crunch. Prime Minister Imran Khan late on Wednesday approved the recommendation of the Oil and Gas Development Authority’s (OGRA) to increase the fuel […]

SINGAPORE: Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia for a second straight month in September after Middle East benchmark prices weakened. The official selling price (OSP) for flagship Arab Light crude could drop by at least 50 cents a barrel, falling below a premium […]

Tokyo: Oil prices rose for a fourth day on Tuesday on optimism the US Federal Reserve will this week cut interest rates for the first time in more than ten years, which should support economic and fuel demand growth in the world’s biggest oil user. Brent crude rose 33 cents, or 0.5 per cent, to […]

New Delhi: Industry body Assocham on Thursday sought inclusion of petroleum products in GST and subsuming of some local and state taxes like stamp duty. “The two-year period for keeping petroleum products outside GST is almost over. Also, these products being outside GST lead to increase in cost for businesses. Therefore, these products should be […]

New Delhi: Crude oil prices rose 0.28 per cent to Rs 3,905 per barrel in futures trade Tuesday as speculators raised their exposure, tracking a rebound in global markets. On the Multi Commodity Exchange, crude contracts for August delivery went up by Rs 11, or 0.28 per cent, to Rs 3,905 per barrel in a […]

New Delhi: Shares of Reliance Industries Ltd (RIL) gained 2.5 per cent on Monday after the company posted 6.8 per cent rise in June quarter net profit. The scrip rose 2.52 per cent to close at Rs 1,280.50 on the BSE on Monday. During the day, it jumped 2.84 per cent to Rs 1,284.55. At […]

Tokyo: Oil fell on Tuesday amid worries over the outlook for demand after the latest signs that international trade disputes have been dragging on the global economy, although the potential for conflicts in the Middle East offered support to prices. Brent crude futures were down 21 cents, or 0.3 per cent, at USD 63.90 a […]

Singapore: Oil prices rose on Friday, pushed up by ongoing supply cuts led by producer club OPEC and US sanctions against Iran and Venezuela, putting the crude markets on pace to post their biggest first quarter gain since 2009. US West Texas Intermediate (WTI) futures were at USD 59.56 per barrel at 0211 GMT, up […]

New Delhi: India has invited Saudi Arabia to invest in its strategic oil storage even as it looks to resurrect a USD 44 billion (Rs 3.08 lakh crore) refinery project with the world’s largest oil producer after the BJP-ruled Maharashtra government denied land at the initial site. Saudi Oil Minister Khalid Al Falih, on his […]

Mumbai: The rupee opened 18 paise lower at 70.18 against the US dollar on Friday on increased demand for the greenback from importers and banks amid lower opening of domestic equities. Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency. However, fresh foreign fund inflows, easing crude […]

New Delhi: Petrol and diesel price rose again on Tuesday with a climb of 7 paise in petrol costs whereas diesel was raised by 10 paise per litre. Since the starting of this year, the price of petrol has gone up by about Rs 3.5 a litre and that of diesel by about Rs 5 […]

The construction of the LPG terminal and storage facility proposed at Puthuvype will commence soon, said District Collector K. Mohammed Y. Safirulla after a meeting of stakeholders at the collectorate.