NEW DELHI: Crude prices in the international market dipped on Tuesday owing to the concern of the global recession, which is expected to reduce the fuel demand. Brent Crude Future, the benchmark of global oil price declined 3.71 per cent to USD 95.20 per barrel on Tuesday while West Texas Intermediate crude oil was trading […]
Category: Oil & Gas
Saudi Aramco unveils record quarterly profit of 48.4 billion as oil prices soar
RIYADH: Oil giant Saudi Aramco on Sunday unveiled record profits of USD 48.4 billion in the second quarter of 2022, after Russia’s war in Ukraine and a post-pandemic surge in demand sent crude prices soaring.
Essar Oil UK reaches new milestone in transition to low carbon ops
NEW DELHI: Essar Oil UK has achieved a new milestone in its ongoing transition to low carbon operations, following the UK government’s decision to shortlist its new hydrogen project and a separate carbon capture project.
BPCL to put Rs 1.4 lakh crore in petrochemicals, gas business
NEW DELHI: Bharat Petroleum Corporation Ltd (BPCL), India’s second-biggest oil refining and marketing company will invest Rs 1.4 lakh crore in petrochemicals, city gas and clean energy in the next five years. Its chairman and managing director Arun Kumar Singh, in the company’s latest annual report said the energy landscape is changing globally and the […]
Blast in Coimbatore IOCL gas pipeline during pressure check
COIMBATORE: An underground pipeline that was laid for the distribution of compressed piped natural gas for domestic and industrial usage by the IOCL was allegedly blasted during the pressure check on Thursday in the city.
Investigation into NCTPS ‘coal scam’ still incomplete
CHENNAI: The investigation into the disappearance of 2.38 lakh tonnes of coal, worth Rs 85 crore, from Tangedco’s North Chennai Thermal Power Station last year is yet to be completed. Large quantities of coal had been found missing from the Mettur and Thoothukudi thermal power plants as well.
Government to divert natural gas from industries to city distributions amid soaring prices
NEW DELHI: In a bid to cool down the CNG and piped cooking (natural) gas (PNG) prices in the country, the petroleum ministry has decided to divert natural gas from industries to the city gas distribution (CGD). In an official order, the ministry said supply for domestic gas to the CGD entities should be made […]
Russian oil shipments to central Europe expected to resume
BRATISLAVA: Oil shipments from Russia through a critical pipeline to several European countries should resume soon after a problem over payments for the transit was resolved, Slovakia’s economy minister said on Wednesday.
Chinese oil giant Sinopec likely to enter Sri Lankan fuel market amid Beijing’s debt-trap
BEIJING: As Sri Lanka continues to remain in the Chinese debt trap, the biggest petrochemical company in China, Sinopec, is likely to start retail operations in the Lankan fuel market, local media said citing sources. The sources said that Sinopec is likely to enter Sri Lankan market for importing, distributing and selling petroleum products, reported […]
Indian Oil Corporation to transport fuel to Tripura via Bangladesh
AGARTALA: PSU major Indian Oil Corporation (IOC) will soon conduct a trial run for transporting fuel to Tripura through Bangladesh, an official said on Tuesday. During the trial run, the IOC will transport three LPG tankers and seven tankers of petrol and diesel through Bangladesh from Guwahati.
LIOC to soon invite bids for setting up retail outlets across Sri Lanka
NEW DELHI: Lanka IOC (a wholly owned subsidiary of Indian Oil Corporation Limited) will soon be inviting bids for the 50 new retail fuel outlets they have been invited to open by the Sri Lankan government.
Amid inflation woes, piped cooking gas price hiked by Rs 2.63 per unit
NEW DELHI: The price of cooking gas piped to household kitchens in the national capital and adjoining cities was hiked by Rs 2.63 per unit on Friday, the second increase in rates in less than two weeks.