The government on Thursday hiked by 62 per cent the price of natural gas that is used to produce electricity, make fertilisers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens. This is the first increase in rates since April 2019 and comes on back of firming benchmark […]
Category: Oil & Gas
ONGC Videsh Ltd begins its exploratory drilling campaign in Bangladesh
ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), on Thursday said it has spud the first well in an offshore block in Bangladesh, marking the start of an exploration campaign to find oil and gas. “Well Kanchan#1 in Block SS04, Bangladesh was spud on September 29 at Maheshkhali […]
Diesel at record high, petrol nears all-time high as rates hiked again
Petrol and diesel prices on Thursday neared record levels across the country after rates were hiked by 25 paise and 30 paise a litre respectively. The price of petrol was hiked to Rs 101.64 a litre in Delhi and to Rs 107.71 per litre in Mumbai, according to a price notification of state-owned fuel retailers. […]
Oil falls after US inventories post surprise gain
TOKYO: Oil NSE 2.32 % prices fell on Thursday, extending losses after official figures showed an unexpected rise in inventories in the United States although prices seem to have stabilised following a recent run of gains. Brent crude was down 11 cents at $78.53 a barrel by 0137 GMT, after falling 0.6% on Wednesday. U.S. […]
Brent crude tops $80, coal up 15%! Steer clear of stocks that will get hit
NEW DELHI: A surge in crude oil price past the $80 a barrel level and a 15 per cent rise in coal prices since August are likely to have negative implications for cement, paints, aviation and FMCG companies, but may boost margins for select oil & gas, metals and power companies, analysts said. Cement companies […]
RIL says Aramco chairman’s induction to board in line with law, regulations
Reliance Industries has defended its decision to appoint Saudi Aramco chairman Yasir Al-Rumayyan as an independent director, stating that there was “no connection” between the appointment and the stake sale talk between the two companies. The appointment meets all regulatory criteria, the Indian conglomerate said in a statement to the stock exchanges on Wednesday. This […]
Petrol, diesel prices remain unchanged on Wednesday
Petrol and diesel prices remained unchanged on Wednesday, a day after pump prices of both fuels rose simultaneously, after a three week break amid volatility in global oil prices. Benchmark crude prices have settled a tad lower at $78 a barrel now after shooting over three year high level of $80 a barrel earlier this […]
Shrinking inventories and supply worries lift natural gas prices to decade-high levels
Natural gas prices have climbed to their highest level in seven years in US NYMEX futures. Extreme weather in the US coupled with disruptions associated with hurricane Ida played a role in kickstarting the rally. Traders put fresh bets on the commodity as they anticipate a shortage this winter, amid a quick rebound in consumption […]
Reliance backs appointment of Aramco chairman on board
Billionaire Mukesh Ambani’s Reliance Industries NSE -0.53 % Ltd on Wednesday defended the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, saying all regulatory criteria for his appointment as an independent director were met, pending shareholder approval on the decision. The California State Teachers’ Retirement System (CalSTRS), a shareholder of Reliance, had […]
Oil falls for second day as supply-driven rally peters out
TOKYO: Oil NSE 3.49 % prices fell for the second straight day on Wednesday as doubts re-emerged over demand, with COVID-19 cases continuing to rise worldwide and gasoline shortages in some regions. Brent crude was down $1.03 or 1.3% at $78.06 a barrel by 0130 GMT, having fallen nearly $2 on Tuesday after touching $80.75, […]
Oil goes past $80 for first time in 3 years
New Delhi: Oil NSE 3.49 % prices have risen above $80 a barrel for the first time in three years, increasing domestic fuel prices and triggering concerns about higher import bill, inflation, and current account deficit. State-run fuel retailers raised prices of diesel by 25 paise per litre and of petrol by 20 paise per […]
Pre-pandemic level demand seen in the US, Europe and India: MK Surana, HPCL
In an interview with ET Now, MK Surana, CMD, HPCL NSE 1.70 %, talks about factors affecting Brent’s price, oil as a connected commodity, permanent destruction in the demand of oil, and more. You have got Brent within kissing distance of $80 a barrel. You are seeing WTI index go up. Back home the oil […]