Category: Oil & Gas

Mumbai:Global infrastructure investor I-Squared Capital-backed city gas distribution companies in India — AG&P Pratham and Think Gas Distribution — are set to merge, according to two industry executives aware of the development. The combined entity will be valued at over $1.1 billion, acquiring the heft that will help it compete with rivals. It will be […]

India’s fuel consumption rose 5.7% year-on-year in February, government data showed on Thursday, helped by strong factory activity in the world’s third-biggest oil importer and consumer. Total consumption, a proxy for oil demand, totalled 19.72 million metric tons (4.98 million barrels per day) in February, up from 18.66 million tons last year, data from the […]

State gas utility GAIL (India) Ltd and oil producer ONGC will explore possibility of using Shell’s import terminal at Hazira in Gujarat for importing ethane and other hydrocarbons to fuel their petrochemical ambitions. GAIL had in May last year signed a memorandum of understanding with Shell Energy India Pvt Ltd to explore opportunities in energy […]

New Delhi: GAIL, ONGC, and Shell have joined hands to explore opportunities for the import of ethane. The three companies have signed a preliminary agreement with a focus on developing ethane import facilities at Shell’s LNG import terminal at Hazira in Gujarat, GAIL said in a statement.

The government has announced the extension of the Rs 300 per LPG cylinder subsidy to poor women under the Ujjwala Yojana for the next fiscal starting April 1. The subsidy was increased from Rs 200 per cylinder last year. Union Minister Piyush Goyal stated that the Cabinet Committee on Economic Affairs (CCEA) has decided to […]

LPG Cylinder Prices: India has cut LPG cylinder prices by a steep 100 rupees per cylinder, a move that will ease cost burden on households across the country in the world’s most populous nation that is set to vote for the next government during the summer season. What did PM Modi say on LPG cylinder […]

OPEC is set to win a bigger share of India’s oil imports in coming decades due to the proximity of its supplies, the producer group’s head told Reuters, after its dominance was recently eroded by competition from discounted Russian oil. The share of oil from the Organization of the Petroleum Exporting Countries (OPEC) imported by […]

Indian Oil Corporation Ltd (IOC) – the nation’s top oil firm – will in three months start manufacturing fuel used in adrenaline-pumping Formula One or F1, motor racing as it looks to expand its basket of niche fuels. IOC, which already has three branded fuels, including high-selling XtraGreen diesel, on Wednesday unveiled ‘Storm’ petrol that […]

Indraprastha Gas Ltd on Wednesday slashed the prices of Compressed Natural Gas (CNG) by Rs 2.5 in Delhi and the National Capital Region (NCR), applicable from 06.00 a.m. on March 7. The revised rate of CNG in Delhi will is now Rs 74.09 per kg from the earlier Rs 76.59 per kg. Meanwhile, in Noida, […]

Russia expanded its share in India’s crude oil imports to 32% in February from 27% in the previous month, little affected by Red Sea tensions and helped by rising demand from state-run refiners in India. Saudi Arabia became India’s second-largest crude supplier in February, with its share rising to 19% from 14%. Iraq was a […]

Prime Minister Narendra Modi on Tuesday launched multiple development projects worth over Rs 19,600 crore in Odisha’s Jajpur district. Modi said the BJP-led central government was committed to the development of eastern India, which is filled with natural resources. “Our government works for the present as well as for the future, with the aim of […]

NEW YORK: Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts. Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organization noted Sunday. Saudi Arabia led the pack by extending its […]