Category: Oil & Gas

State-owned oil and gas giants including IndianOil, ONGC and GAIL (India) have been slapped fines for the third straight quarter for failing to meet listing norm requirements of having the requisite number of directors on their board.Stock exchanges have fined oil refining and fuel marketing giant Indian Oil Corporation (IOC), explorers Oil and Natural Gas […]

Oil prices fell on Friday after a U.S. Fed official said interest rate cuts should be delayed at least two more months. Brent crude futures were down 25 cents, or 0.3%, at $83.42 a barrel at 0212 GMT, while U.S. West Texas Intermediate crude futures were 25 cents, or 0.3%, lower at $78.36. U.S. Federal […]

State-owned Oil India Ltd is looking to resume its operations in the block Area 95/96 in Libya in the next financial year, an official source told FE. The company had suspended its operations in the block since May 2014 under force majeure clause, following the civil unrest in the African country. However, with the easing […]

Oil prices were broadly steady on Tuesday, hovering close to three-week highs on heightened Middle East tensions and recovering China demand. Brent futures ticked down 11 cents to $83.45 a barrel by 0413 GMT. U.S. West Texas Intermediate (WTI) crude for April delivery inched down 11 cents to $78.35 a barrel. The March WTI contract […]

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) on Monday said it has entered into a long-term supply agreement for liquefied natural gas (LNG) with global energy major Equinor. It is one of the largest contracts signed by the Norway-based company with a private sector firm in India. The fertiliser maker said it has signed a 15-year […]

Oil prices edged down on Monday morning as markets digested comments from U.S. Federal Reserve officials pointing to a more patient stance regarding potential interest rate cuts, in thin early trade on what is a public holiday in the United States. Brent crude futures were down 58 cents, or 0.69%, at $82.89 a barrel. U.S. […]

India’s domestic crude oil production for the April to January period of the current fiscal came in at 24.5 million metric tonne, registering a marginal decline of 0.4% compared with the first 10 months of last fiscal, data from the Petroleum Planning and Analysis Cell showed. The production also fell short of the target of […]

Just ahead of the general elections, the state-run oil marketing companies (OMCs) are likely to reduce the retail prices of auto fuels, if their fourth-quarter earnings are supportive. Union minister for petroleum and natural gas Hardeep Singh Puri said on Friday: “The last three quarters’ profits (of OMCs) were good. If the fourth quarter (profits) […]

Oil prices meandered on Friday as investors pondered slowing demand forecast by an influential group and weak U.S. retail sales data that sparked optimism about U.S. interest rate cuts. Brent crude futures dropped 11 cents, or 0.1%, to $82.75 a barrel at 0131 GMT. U.S. West Texas Intermediate crude futures rose 1 cent to $78.04 […]

Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50 per cent by 2040, with industrial coal-to-gas switching gathering pace in China and South Asian and South-east Asian countries using more LNG to support their economic growth, said Shell’s LNG Outlook 2024. Global trade in LNG reached 404 million tonnes […]

Shares of Bharat Petroleum Corporation Ltd (BPCL) rallied more than 4 per cent on Thursday a day after BPCL ESPS Trust sold shares of the state-owned company in a block deal. BPCL shares advanced 4.43 per cent to Rs 651.25 apiece on the BSE. The stock of the company jumped 4.41 per cent to Rs […]

Decarbonisation is necessary for India to reach its Net Zero goal by 2070. Green Hydrogen is emerging as a popular choice for enabling greener operations in industries such as iron ore and steel, fertilizers, refining, methanol, and maritime shipping. Energy Independence could be a key outcome from Green Hydrogen adoption – with Green Hydrogen substituting […]