Category: Oil & Gas

Oil prices stayed near five-month highs on Monday as markets expected tighter supply due to OPEC+ cuts and after attacks on Russian refineries, while Chinese manufacturing data supported a stronger demand outlook. Brent crude was 35 cents lower at $86.65 a barrel by 1230 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude […]

Shares of GAIL (India) Ltd. rose 1.02 per cent to Rs 183.0 in Monday’s trade as of 11:57AM (IST) even as the benchmark Nifty ruled at 22476.3, up 149.4 points. The scrip had closed at Rs 181.15 in the previous session. The stock quoted a 52-week low of Rs 102.95 and a high of Rs […]

Oil prices gained in early Asian trading on Tuesday, underpinned by signs of improved demand and escalating Middle East tensions that had sparked a rally in U.S. futures to a five-month high in the previous session. Brent futures for June delivery rose 37 cents to $87.79 a barrel by 0046 GMT. The May contract for […]

Shares of Indian Oil Corporation Ltd. gained 2.09 per cent to Rs 172.75 in Tuesday’s session as of 10:25AM (IST) even as the equity benchmark Sensex traded 119.64 points lower at 73894.91. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs […]

Oil prices edged down slightly on Monday, holding on to most of their recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and upbeat Chinese manufacturing data. Brent crude fell 17 cents, or 0.2%, to $86.83 a barrel by 0017 GMT after rising 2.4% last week. U.S. West Texas Intermediate […]

Shares of Adani Total Gas (ATG) jumped 8% on Monday to hit the day’s high of Rs 1,000 on the NSE after the company informed about its wholly-owned subsidiary Adani Total Energies Biomass Limited (ATBL) commissioning operations at phase 1 of its Barsana Biogas Plant. This is the second day of gains for the Adani […]

The government on Sunday cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to USD 9.87 per million British thermal unit in line with softening of benchmark international gas prices, an official notification said. However, the price of gas that is used for making CNG […]

NEW DELHI: Oil and Natural Gas Corporation (ONGC) has paid a dividend of ₹7,224 crore to the Centre for the fiscal 2023-24, leading the pack of oil and gas companies, which form the biggest block of dividend payers to the Central government. ONGC’s dividend contribution to the state was almost double the ₹3,636 crore dividend […]

The oil marketing companies on Monday announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from […]

State-owned Indian Oil Corporation (IOC) on Thursday said it will raise its stake in the joint venture building a 9 million tonnes refinery at Chennai to 75 per cent after the cost to the project escalated by over 12 per cent. Originally, IOC and its subsidiary Chennai Petroleum Corporation Ltd (CPCL) were to hold a […]

The petroleum and natural gas ministry is drawing up plans to offer free piped natural gas (PNG) connections and consumption subsidies to poor households to help its wider adoption on the lines of the Ujjwala scheme, which popularised liquefied petroleum gas (LPG) among the poor, said people familiar with the matter.

OPEC+ is unlikely to make any oil output policy changes until a full ministerial gathering in June, three OPEC+ sources told Reuters ahead of next week’s gathering of ministers that is not expected to make any policy recommendations. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, will hold […]