Category: Oil & Gas

State-owned Indian Oil Corporation (IOC), Adani-Total Gas Ltd and Shell were among the 29 companies that bid and bought natural gas to be produced from the deepest field in the KG-D6 block of Reliance Industries Ltd and bp, sources said. IOC walked away with almost half of the 6 million standard cubic meters per day […]

The Pune police said they launched an inquiry into a racket involved in pilfering fuels from tankers of petroleum companies, arrested four people and were searching for more suspects. The racket, which was brought to light by the Hadapsar police, is being investigated by the crime branch. It was around two days ago when police […]

CNG and PNG got cheaper in Delhi after Indraprastha Gas Ltd (IGL) announced new rates. The dip comes after the government changed the pricing formula of natural gas. The new rates will be effective from Sunday. IGL said on Twitter the retail prices charged by it for piped natural gas and compressed natural gas in […]

Ethanol supply target may dip in Maharashtra; only 6 out of 210 sugar mills working With only six of the 210 registered sugar mills being operational in Maharashtra due to a drastic drop in per-hectare cane yield and a reduction in sucrose content in the crop, the state will see a serious decline in sugar […]

Torrent Gas reduced the prices of Compressed Natural Gas (CNG) by Rs 6-Rs 8.25 per kilogram and domestic Piped Natural Gas (PNG) by Rs 4-Rs 5 per Standard Cubic Meter across seven states, effective from Saturday evening. This reduction in prices of CNG and PNG comes on the back of the Union Cabinet’s decision to […]

India’s consumption of petroleum products hit a new record in financial year 2022-23, underscoring robust demand for transportation fuels and some other refined products, shows an analysis of data released by the Petroleum Planning & Analysis Cell (PPAC) of the oil ministry. For the year ended March, consumption of major fuels–diesel, petrol, and liquefied petroleum […]

Oil steadied on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other OPEC+ producers balanced concern about weakening global growth that may dampen fuel demand. Crude last week jumped more than 6%, a third weekly gain, after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies […]

Record high imports of crude oil from Russia in fiscal 2022-23 helped India’s refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed. Access to cheap Russian crude has boosted output and profits at Indian refineries, enabling them to export refined […]

Construction major Larsen & Toubro (L&T) on Wednesday said it has bagged multiple contracts of worth more than Rs 7,000 crore in the Middle East region. The scope of work comprises engineering, procurement, construction and installation for various new offshore facilities and integration with existing installations, L&T said in a statement. L&T wins “mega” contracts […]

India plans to give green hydrogen fuel producers incentives worth at least 10% of their costs under a $2 billion scheme set to begin before the end of June, a top government official said. New Delhi this year approved a 174.9 billion rupee incentive plan to promote green hydrogen in a bid to cut carbon […]

Former Haryana CM Bhupinder Singh Hooda Sunday promised that LPG cylinders will be given to the women for domestic cooking purposes at the rate of Rs 500 if the Congress was voted to power in 2024 assembly polls in the state. He also promised 300 units of free electricity to every family. “A monthly pension […]

Oil prices surged on Monday, jolted by a surprise announcement by OPEC+ to cut production further in what top producer Saudi Arabia called a precautionary measure to support market stability. Brent crude traded at $84.26 a barrel by 0347 GMT, up $4.37, or 5.5% after touching the highest in a month at $86.44 earlier in […]