Category: Oil & Gas

Russia on Sunday announced additional voluntary cuts in oil supply mainly in the form of production cuts rather than exports, as it faced curtailed refining capacity as well as stricter sanctions, analysts said. Russia has declared plans to cut its oil output and exports by an additional 471,000 barrels per day (bpd) in April-June in […]

Oil prices were little changed on Monday, a day after the widely expected extension of voluntary output cuts through the middle of the year by the OPEC+ producer group. Brent futures were up 19 cents to $83.74 a barrel at 1422 GMT after rising 2.4% last week. U.S. West Texas Intermediate (WTI) rose 6 cents […]

Oil prices fell for a second day on Tuesday as pledges by China, the world’s biggest crude importer, to transform its economy amid stuttering growth since the COVID pandemic failed to impress investors concerned about slower consumption. Brent futures for May fell 3 cents to $82.77 a barrel by 0159 GMT, while U.S. West Texas […]

Shares of Indian Oil Corporation Ltd. traded 1.88 per cent up at Rs 175.45 at 11:36AM (IST) on Monday, even as BSE benchmark Sensex gained 23.09 points to 73829.24. The scrip had settled at Rs 172.2 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 196.8 and Rs 75.77, […]

NEW DELHI: Shares of GAIL (India) Ltd. traded 2.27 per cent up in Tuesday’s trade at 10:05AM (IST). Around 821,739 shares changed hands on the counter. The stock opened at Rs 192.5 and touched an intraday high and low of Rs 196.35 and Rs 191.35, respectively, in the session so far. The stock of GAIL […]

Share price of Indian Oil Corporation Ltd. gained 0.17 per cent to Rs 175.5 at 11:06AM (IST) in Tuesday’s trade. The counter hit a high of Rs 177.3 and low of Rs 174.6 so far during the session. The stock had closed at Rs 175.2 in the previous session. The counter had a total traded […]

India expects investment of about Rs 41,000 crore ($4.95 billion) from companies to build natural gas pipeline infrastructure in its northeastern states and northern federal territories of Kashmir and Ladakh, a minister said on Monday. India, one of the world’s biggest emitters of greenhouse gases, is seeking to boost the use of cleaner fuel to […]

India has been talking to Guyana, Suriname and Namibia regarding oil cooperation, informed Union Petroleum Minister Hardeep Singh Puri on Monday while asserting that there is no shortage of crude oil globally. His statement comes as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are extending their voluntary oil output cuts of […]

New Delhi: The full benefit of the reforms in the natural gas sector has not reached the end customer, oil minister Hardeep Puri has said, adding that the government will take all measures to ensure compliance by city gas companies. “At the end of the day our objective is, and should always be, to bring […]

Saudi Arabia announced on Sunday it would extend oil supply cuts through June as part of a bid to prop up prices. An energy ministry source said Riyadh “will extend its voluntary cut of one million barrels per day, which was implemented in July 2023, until the end of the second quarter of 2024,” the […]

Oil prices rose on Monday after OPEC+ members agreed to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, largely in line with market expectations. Brent futures was 28 cents, or 0.3% higher, at $83.83 a barrel at 0134 GMT, while the U.S. West Texas Intermediate (WTI) rose 20 […]

Saudi Arabia, the de facto leader of OPEC, said Sunday that it would extend cuts in oil production through June, noting that it was acting “in coordination with some” other states. Saudi allies including Kuwait and the United Arab Emirates said Sunday that they would also continue their reductions. The decision to keep output cuts […]