BRUSSELS: European companies are ramping up security around pipelines and energy prices are climbing again as the suspected sabotage of two pipelines that deliver natural gas from Russia underscored the vulnerability of Europe’s energy infrastructure and prompted the EU to warn of possible retaliation.
Category: Oil & Gas
How high crude oil prices are ‘breaking India’s back’
NEW DELHI: Foreign minister S Jaishankar was not wrong when he said on Tuesday high oil prices are breaking India’s back. Despite cheap crude import from Russia, India’s crude oil basket has averaged above $100 a barrel so far this year. As per the Petroleum Planning and Analysis Cell, a body of the Petroleum ministry, […]
High oil prices breaking our back, Jaishankar tells Blinken
NEW DELHI: External Affairs Minister S Jaishankar on Tuesday told his US counterpart that developing countries are deeply concerned about oil prices as well as supply.
Sabotage suspected after leaks in Russia-Europe Nord Stream gas pipelines
DENMARK: The two Nord Stream gas pipelines linking Russia and Europe have been hit by unexplained leaks, Scandinavian authorities said Tuesday, raising suspicions of sabotage.
OMCs unlikely to cut fuel prices despite fall in crude rate
NEW DELHI: Oil marketing companies (OMCs) are not likely to reduce the transport fuel prices in the domestic market even as crude prices fell below $85 a barrel in the international market, lowest since January 14, 2022. An official from one of the OMCs, on condition of anonymity, said oil companies have suffered a major […]
Pakistan: Gas pipeline in Dera Bugti blown by unidentified attackers
BALOCHISTAN: Unidentified attackers on Saturday exploded the main pipeline supplying gas to many regions of Balochistan, local media reported citing the officials.
BPCL signs pact with Brazil’s Petrobras to diversify crude oil sourcing
NEW DELHI: State-owned Bharat Petroleum Corporation Ltd (BPCL) on Saturday said it has signed an agreement with Brazilian national oil company Petrobras for sourcing crude oil from the Latin American nation as part of plans to diversify its sourcing needs.
Iran offers Indian firms 30 per cent stake in gas field
NEW DELHI: Iran has offered ONGC Videsh Ltd and its partners a 30 per cent interest in the development of the Farzad-B gas field in the Persian Gulf that was discovered by the Indian consortium, officials said.
Five held for diesel theft in Odisha
PARADIP: Police on Tuesday arrested five persons for allegedly stealing diesel from a Hindustan Petroleum Corporation Ltd (HPCL) depot in Paradip. Sources said the accused, Alok Kumar Swain, Rustam Alli, Rahamal Alli, Pradyumna Kumar Pradhan and Santosh Nayak used to steal diesel from the depot by tampering with the meter wire of tankers. The staff […]
Numaligarh Refinery Limited achieves highest ever sales turnover of Rs 23,546 crore
GUWAHATI: Despite challenges and uncertainties, the Numaligarh Refinery Limited (NRL) managed to achieve the highest ever sales turnover of Rs 23,546 crore during the 2021-22 fiscal.
Windfall tax on domestic crude oil cut
NEW DELHI: The government on Friday cut the windfall profit tax on locally-produced crude oil in line with a fall in international rates, and reduced the levy on the export of diesel and jet fuel (ATF) with effect from September 17. At the fifth fortnightly review, the government reduced tax on domestically-produced crude oil to […]
Shell says CEO Ben van Beurden stepping down at end of 2022
LONDON: British energy giant Shell announced Thursday that chief executive Ben van Beurden will step down at the end of the year to be replaced by renewables director Wael Sawan. Van Beurden, who will have been at the helm for nine years, will be succeeded by the head of integrated gas, renewables and energy solutions, […]