Reliance Industries has estimated a maximum liability of USD 400 million (Rs 3,000 crore) in its nine-year old dispute with the government over alleged under-utilisation of capacity at the KG-D6 field due to failure to comply with an approved investment plan. Natural gas output from Dhirubhai-1 and 3 gas fields in the KG-D6 block in […]
Category: Oil & Gas
Oil prices rise on supply cut hopes, easing of coronavirus lockdowns
Oil prices climbed on Tuesday, boosted by increasing faith in the market that producers will to stick to commitments to cut crude supply while demand picks up with more cars back on the road as coronavirus lockdowns are eased around the world. US West Texas Intermediate (WTI) crude futures gained 3.2%, or $1.06, to $34.31 […]
Oil prices climb as US stock drawdown eases supply glut fears
Oil prices advanced on Thursday as a drawdown of US crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains. Brent crude futures for July delivery were trading up 33 cents, or 0.9%, at $36.08 per […]
Oil rises on signs of firmer demand, fall in US crude stocks
Oil prices rose on Wednesday amid signs of improving demand and a drawdown in US crude inventories but worries over the economic fallout from the coronavirus pandemic capped gains. Brent crude futures for July delivery were up 23 cents, or 0.7%, at $34.88 per barrel at 0347 GMT. US West Texas Intermediate (WTI) crude futures […]
Reliance Industries shares outperform Sensex, rise 59.32% from March 23 low
Shares of Reliance Industries (RIL), which is opening its Rs 53,125-crore rights issue on Wednesday, declined 2.26 per cent on the stock exchanges on Tuesday, even as the Sensex rose 167 points to 30,196.17. However, RIL shares, which closed at Rs 883.85 on March 23, has zoomed 59.32 per cent since then to Rs 1,408.15 […]
Oil prices hit one-month highs on output cuts, demand signs
Oil prices climbed by more than $1 a barrel on Monday, supported by output cuts and signs of gradual demand recovery amid easing coronavirus curbs, with US oil showing no signs of last month’s contract expiry price rout. Brent crude was up $1.06, or 3.3%, at $33.56 a barrel by 0452 GMT, after touching its […]
Reliance Industries shares gain nearly 2% after General Atlantic deal
Shares of Reliance Industries on Monday gained nearly 2 per cent after the company announced the sale of 1.34 per cent stake in its digital unit to global equity firm General Atlantic for Rs 6,598.38 crore. The heavyweight stock rose by 1.58 per cent to Rs 1,482 on the BSE in opening session. On the […]
Oil jumps as Trump talks up truce hopes for Saudi-Russia price war
Crude oil futures surged on Thursday after US President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war and Russian President Vladimir Putin called for a solution to “challenging” oil markets. Brent crude futures rose 5.9 per cent, or $1.46, to $26.20 as of […]
Crude oil, Asian shares slip on doubts over Saudi-Russia deal
Oil prices retreated on Friday after massive gains, while stocks in Asia edged down, as doubts grew over an oil price deal between Saudi Arabia and Russia that US President Donald Trump said he had brokered. With the coronavirus pandemic raising the risk of a prolonged global downturn, investors continued to seek the safety of […]
Trump touts ‘great’ Saudi-Russia oil deal to halt price rout, but details unclear
US President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear. Trump said the two nations could cut output by 10 to 15 […]
Saudi Aramco starts trading, gaining 10% and reaching $1.8 trillion
Saudi Arabia’s oil company Aramco began trading for the first time on Wednesday, gaining 10% in the first moments on the market and pushing its worth to $1.88 trillion, making it the most valuable listed company in the world. The state-owned oil giant started trading on the Saudi Tadawul stock exchange after a mammoth $25.6 […]
US replaces Kuwait as India’s sixth biggest oil supplier
The United States has surpassed Kuwait to become India’s sixth largest oil supplier as it supplied 70 per cent more crude to the world’s third largest energy consumer during April-September. According to data furnished by the oil ministry to parliamentary committee, the US supplied 5.4 million tonnes of crude oil during the first six months […]