Category: Oil & Gas

India in April imported more Russian oil but less from Iraq and Saudi Arabia than it did a month earlier, preliminary data from trade flow tracking agencies Kpler and LSEG shows. Refiners in India have been snapping up Russian oil since Moscow’s invasion of Ukraine in February 2022 prompted the West to shun it and […]

New Delhi: BP has appointed Kartikeya Dube as its India unit chief, the energy major said in a statement on Tuesday. Dube’s appointment will be effective from July 1. He will take over from Sashi Mukundan who will retire from BP after serving the company for over 42 years.

The centre Tuesday revised Windfall tax on domestically produced crude oil to Rs 8,400 per tonne, down from Rs 9,600 per tonne. The export duty on petrol diesel and aviation turbine fuel (ATF) will continue to be nil.

Government oil marketing companies on Wednesday slashed prices of commercial LPG gas cylinders by Rs 19 with immediate effect. The retail sales price of a 19 kg commercial LPG cylinder would be now Rs 1745.50 in Delhi, reported ANI, citing sources. Last month, the price was cut by Rs 30.50 for a 19-kg commercial cylinder […]

Oil edged down in early trade on Tuesday after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanded conflict in the Middle East, while worries about the outlook for U.S. interest rates weighed on the market. Brent crude futures dipped 5 cents, or 0.06%, to $88.35 a barrel at 0006 GMT, and […]

Shares of GAIL (India) Ltd. traded at Rs 209.75 on BSE at 11:31AM (IST) on Monday, up 0.81 per cent from previous close. The scrip quoted a 52-week low price of Rs 102.95 and a high of Rs 213.7.

Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner’s first oil purchase from Canada’s new Trans Mountain pipeline, trade sources said. Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start […]

Oil prices fell in early Asian trading on Monday, erasing gains from Friday as Israel-Hamas peace talks in Cairo eased fears of a wider conflict in the Middle East and U.S. inflation data further dimmed the prospects of interest rate cuts anytime soon. Brent crude futures fell by as much as $1, or 1.1% to […]

The share price of Indian Oil Corporation Ltd. gained 2.73 per cent to Rs 176.25 at 10:20AM (IST) in Monday’s trade. The counter has hit a high of Rs 177.2 and low of Rs 172.3 so far during the session. The stock had closed at Rs 171.55 in the previous session. The counter has had […]

The current market volatility is being caused by the OPEC producer group rather than the conflict in the Middle East, said Union Minister of Petroleum & Natural Gas Hardeep Singh Puri on Friday, reported ET Now. Puri said that oil producers are cutting down and holding back production.

A ship controlled by U.S.-sanctioned Russian shipping giant Sovcomflot (SCF) discharged fuel oil at a western Indian port on Friday, two sources familiar with the matter said, indicating a resumption in the use of SCF vessels to supply Moscow’s key market after a brief halt. The SCF Baltica, carrying 90,000 metric tons of fuel oil […]

India’s state-run firms’ output from overseas oil and gas fields marginally rose in 2023-24 after declining for four straight years. The output, however, remained a fifth below the peak of 2018-19 as producing fields matured and no new overseas assets were acquired in recent years. The share of India’s state companies in oil and gas […]