Category: Oil & Gas

Global central bankers fretting about geopolitics just got another sharp reminder overnight about the potential threat that the Middle East poses to their inflation fight.

Shares of Indian Oil Corporation Ltd. fell 1.09 per cent to Rs 167.1 in Friday’s trade as of 02:09PM (IST) even as the benchmark Nifty ruled at 22172.75, up 176.91 points. The scrip had closed at Rs 168.95 in the previous session. The stock quoted a 52-week low of Rs 76.76 and a high of […]

State-run Hindustan Petroleum Corp. Ltd (HPCL) plans to set up an international oil trading desk, a company official said.

Amid the ongoing tensions in Middle East, Union Minister Hardeep Singh Puri on Friday spoke with the secretary general of Organisation of the Petroleum Exporting Countries (OPEC) about the latest developments and volatility in the global oil market, as well as how they affect the stability of the energy supply worldwide.

State-run oil companies made a combined capital spending of ₹1,28,000 crore in 2023-24, a fifth more than the capex target they had set at the beginning of the year and 12% more than the amount they spent the previous year. ONGC, IndianOil, BPCL, HPCL, GAIL and Oil India all exceeded their initial annual capex target […]

India’s crude oil import dropped 16 per cent in the fiscal year ended March 31 as lower international rates but the dependency on overseas suppliers rose to a new high, official data showed. India imported 232.5 million tonnes of crude oil, which is refined into fuels like petrol and diesel, in the 2023-24 fiscal (April […]

LONDON, – Oil prices are up around 16% so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between Ukraine and Russia. Investors are paying attention. After all, it was an energy price surge two years ago that helped drive inflation and […]

NEW YORK: Oil prices sank by about 1% a barrel on Monday after Iran’s weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could displace crude barrels. Brent futures for June delivery fell 91 cents to $89.54 a barrel, a 1% loss, by 1:17 p.m. […]

Oil prices rose on Tuesday amid heightened tensions in the Middle East after Israel’s military chief said his country would respond to Iran’s weekend missile and drone attack amid calls for restraint by allies. Brent futures for June delivery rose 46 cents, or 0.5%, to $90.56 a barrel by 0005 GMT. U.S. crude futures for […]

Shares of GAIL (India) Ltd. rose 2.52 per cent to Rs 208.9 in Tuesday’s trade. It hit an intraday high of Rs 210.0 and low of Rs 201.1, respectively, during the day. The stock quoted a 52-week high price of Rs 210.0 and low of Rs 102.95. As of 10:00AM (IST), the counter saw total […]

Shares of Oil and Natural Gas Corporation Ltd (ONGC) jumped 5% today to Rs 278.20 on BSE after global brokerage firm Jefferies initiated a buy call on the PSU stock for a target price of Rs 390. While noting that the reforms in crude and gas pricing have improved the company’s profitability above past decade […]

New Delhi: GAIL is planning to more than double the capacity of its LNG terminal at Dabhol, Maharashtra, and build new terminals in the country to tap opportunities expected to emerge from the future growth in gas imports. The nation’s largest natural gas marketer and transporter plans to raise the capacity of its Dabhol terminal […]