Category: Oil & Gas

Oil prices rebounded on Thursday after falling in the previous session as U.S. crude and gasoline inventory declines supported the market after signs the U.S. Federal Reserve may keep rates higher for longer crimped the outlook for future fuel demand. Brent crude oil futures contract for May settlement rose 0.6%, or 52 cents, at $86.47 […]

Oil prices fell on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later in the day. Brent crude futures for May were down $1.20 or 1.4% at $86.18 a barrel by 1425 GMT. U.S. West Texas Intermediate futures for April delivery, which […]

NEW DELHI: Shares of Indian Oil Corporation Ltd. traded 3.16 per cent up in Thursday’s trade at 10:20AM (IST). Around 510,188 shares changed hands on the counter. The scrip opened at Rs 160.75 and touched an intraday high and low of Rs 163.2 and Rs 160.0, respectively, in the session so far. The stock of […]

India’s import of Russian oil edged up in February over January, reversing declines seen in the past two months, data from industry sources showed on Wednesday, as refiners received some parcels of Russian light sweet Sokol grade. The world’s third biggest oil importer and consumer, India has been gorging on Russian oil since the West […]

NEW DELHI/MOSCOW: India’s Reliance Industries, operator of the world’s biggest refining complex, will not buy Russian oil loaded on tankers operated by shipper Sovcomflot (SCF) after recent U.S. sanctions, according to two sources familiar with the matter. The development adds to oil export problems for Russia as its oil firms may face difficulties finding ships […]

Mumbai: Oil India, the country’s second-biggest state-owned oil and gas explorer, is set to raise $550 million in a five-year external commercial loan facility through Bank of Baroda (BoB) to fund expansion into petrochemicals, ethanol, biogas, and renewable energy and run its operations. The five-year loan will be linked to the six-month benchmark secured overnight […]

Indian state-run oil refiner Bharat Petroleum Corp has signed a deal with BP to buy 1 million barrels per month of U.S. West Texas Intermediate (WTI) crude for four months, trade sources said. BPCL would start taking delivery of the oil from June, they said.

MUMBAI: With the increase in domestic natural gas production, India’s dependency on imported liquefied natural gas (LNG) is expected to fall to about 45% of total consumption in 2025-26 after gradually declining from 53% in 2020-21, CareEdge Ratings said in a report on Tuesday. The higher demand is expected to be supported by sizeable growth […]

With the rise in domestic natural gas production, India’s dependency on imported LNG or liquefied natural gas, which stood at 53% of total consumption in FY21, has gradually declined over the last three years and is expected to remain at around 45% by FY26, said CareEdge Ratings in a report on Tuesday. The higher demand […]

NEW DELHI: Shares of Indian Oil Corporation Ltd. traded 0.52 per cent up in Monday’s trade at 11:06AM (IST). Around 859,402 shares changed hands on the counter. The scrip opened at Rs 162.05 and touched an intraday high and low of Rs 163.25 and Rs 160.4, respectively, in the session so far. The stock of […]

Mumbai: Bank of India, a creditor to the bankrupt Liberty Oil Mills, is gearing up for a Swiss auction tied to a binding bid that guarantees 66% recovery of the book value. Phoenix ARC has made a bid of ₹82 crore for the ₹126 crore loan, leading the lender to schedule a Swiss auction on […]

India’s appetite for imported natural gas is dramatically growing with prices falling in the international markets. Imports of liquefied natural gas (LNG) surged 33% year-on-year in February, after increasing 26% in January, 12% in December last year and 5% in November.