Category: Oil & Gas

Oil prices edged up in early trade on Friday on the prospect of OPEC+ continuing output cuts, but the crude benchmarks were headed for weekly losses on U.S. economic uncertainty and limited crude supply disruptions caused by the Israel-Hamas war. Brent crude futures for July rose 16 cents to $83.83 a barrel by 0008 GMT. […]

LONDON -Oil edged back towards the previous day’s seven-week low on Thursday, paring earlier gains, after U.S. data pointed to persistent labour market strength and further dimmed prospects of an early decline in U.S. interest rates. Brent crude futures for July were up 40 cents, or 0.5%, at $83.84 a barrel by 1332 GMT, having […]

Shares of Indian Oil Corporation Ltd. gained 2.75 per cent to Rs 173.6 in Thursday’s trade. It hit a high of Rs 174.5 and low of Rs 168.25 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 125.82, while the 50-DMA was at Rs 171.09. If a stock trades […]

Shares of GAIL (India) Ltd. traded 2.03 per cent lower in Thursday’s session at 02:10PM (IST). The stock opened at Rs 209.25 and has touched an intraday high and low of Rs 210.2 and Rs 201.8, respectively, during the session so far. The stock quoted a 52-week high of Rs 213.7 and a 52-week low […]

Russia increased its share in Indian crude oil imports to nearly 40% in April from 30% in March, closing in on its all-time peak of 42% last July, as higher global oil prices pushed Indian refiners to increase intake of discounted Russian barrels to reduce their average crude purchase cost. Indian refiners imported 1.78 million […]

Oil fell more than 1% on Wednesday, losing ground for a third straight session, sapped by the prospect of a ceasefire agreement in the Middle East and persistent U.S. inflation dampening the expected pace of interest rate cuts. Brent crude futures for July were down $1.19, or 1.4%, to $85.14 a barrel at 1255 GMT, […]

Oil prices rose on Thursday on the prospect the U.S. may start buying crude for its petroleum reserve, after prices sank to a seven-week low on hopes for an Israel-Gaza ceasefire, doubts about U.S. interest rate cuts and swelling oil inventories. Snapping three days of losses, Brent crude futures for July gained 21 cents, or […]

Shares of Adani Total Gas jumped 4% to Rs 969 today on BSE after the company reported a 71% year-on-year (YoY) growth in its consolidated net profit to Rs 168 crore for the quarter ended March from Rs 98 crore a year ago. Revenue from operations rose 5% YoY to Rs 1,258 crore in the […]

Government oil marketing companies on Wednesday slashed prices of commercial LPG gas cylinders by Rs 19 with immediate effect. Jet fuel or ATF price was also hiked by a marginal 0.7 per cent. Aviation turbine fuel (ATF) price was hiked by Rs 749.25 per kilolitre, or 0.7 per cent, to Rs 101,642.88 per kl in […]

NEW DELHI: Petrol consumption rose 13.8% year-on-year in April while diesel sales inched up barely 1%, according to provisional data published by the oil ministry. Sales of aviation turbine fuel and liquefied petroleum gas (LPG) increased by 8.4% and 12%, respectively, in April.

India’s net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil […]

New Delhi: Indian Oil Corp, the nation’s top refiner and fossil fuel retailer, plans to invest Rs 5,215 crore to build 1 gigawatt (GW) of renewable energy capacity in the country. Indian Oil’s board has approved the investment plan, which would involve setting up “standalone ground-mounted solar or standalone onshore wind or wind-solar hybrid projects” […]