SAN JUAN, Puerto Rico: The government of Trinidad and Tobago announced Tuesday that it is partnering with international experts to remove the wreckage of a barge that capsized in nearby waters and caused a major oil spill. T&T Salvage, a Texas-based company, and QT Environmental, of Minnesota, will work with local officials to also clean […]
Category: Oil & Gas
OMCs profit soar; hope for fuel price cut rises
NEW DELHI: Would the public sector oil marketing companies (OMCs) finally bite the bullet and go for a fuel price cut, especially after churning out healthy profits for three quarters in row in FY24? Oil marketing companies (OMCs) like Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) […]
Karnataka to come up with green hydrogen policy
BENGALURU: Chief Minister Siddaramaiah allocated Rs 23,159 crore to the energy sector, which is 6% of the total budget allocation. Last year, Siddaramaiah had allocated Rs 22,773 crore, or 7% of the total budget allocation, to the sector. His predecessor, BJP leader Basavaraj Bommai, had allocated Rs 14,388 crore in the state budget. Siddaramaiah also […]
Thiruvananthapuram Corporation’s plan for centralized bio-CNG plant draws flak
THIRUVANANTHAPURAM : With decentralised waste management proving to be ineffective, the city corporation and the local self-government department (LSGD) are gearing up to set up a centralized bio-CNG plant in the state capital. According to sources, the authorities are on a hunting spree to find an appropriate site for setting up the plant under the […]
17,000 LPG connections converted to PNG in Tamil Nadu
CHENNAI: Of the 2.2 crore Liquefied Petroleum Gas (LPG) cylinder connections, only 17,000 have been migrated to Piped Natural Gas (PNG) and the Petroleum and Natural Gas Regulatory Board (PNGRB) chairman Dr Anil Kumar Jain hopes the target to convert all the users to PNG is likely to happen by 2030-2031. Addressing reporters on Sunday, […]
Red Sea crisis: No impact on crude supply to India, says HPCL head
NEW DELHI: The ongoing attacks on shipping vessels by Houthi militants in the Red Sea have not impacted the flow of crude oil to India but have elevated the price of freight, said Pushp Kumar Joshi, the chairman of Hindustan Petroleum Corporation Ltd. (HPCL). During a post-third quarter earnings call with investors, Joshi attributed the […]
Supply of LPG hit following drivers’ strike against new hit-and-run law
PARADIP: The ongoing drivers’ strike against the new hit-and-run law has brought the export of petroleum products including LPG from IOCL’s Paradip Refinery to Nepal Oil Corporation (NOC), to a grinding halt. As per sources, Paradip Refinery exports around 40 to 50 LPG bullets to NOC regularly. However following the strike, disgruntled drivers have staged […]
IOCL to fund equipment for TB screening in TN
CHENNAI: Modern equipment to enable early detection of tuberculosis, worth `28 crore, will be procured by the health department using corporate social responsibility (CSR) funds from the Indian Oil Corporation Limited (IOCL). A memorandum of understanding (MoU) was signed between the Tamil Nadu government and IOCL in Chennai on Wednesday. The initiative is part of […]
No immediate oil prices cut in domestic market: Minister
NEW DELHI: Petroleum minister Hardeep Singh Puri on Wednesday said there is no immediate reduction in fuel price in the country. The minister, addressing the press, clarified that there have been no discussions with the oil marketing companies (OMCs) regarding potential price cuts. “There has been no discussion with OMCs on any such issues. We […]
Norway fund drops Saudi Aramco, 11 other Gulf firms
OSLO: Norway’s largest pension fund said Thursday it has divested from Saudi Aramco due to the oil giant’s lack of climate action and from 11 other Gulf companies over human rights concerns. KLP, which manages over 700 billion kroner ($70 billion), said the exclusion amounted to $15 million. The fund dropped 11 companies in the […]
Total Energies invests $300 million in Adani Green, 2 firms complete JV
CHENNAI: Total Energies has invested $300 million in Adani Green Energy Limited (AGEL) subsidiary for acquiring 50% stake in its projects, the company said in a statement. The two companies have completed a joint venture (JV) announced in September. The JV houses a 1,050 MW portfolio consisting of already operational (300 MW), under construction (500 […]
Commercial LPG rate cut by Rs 39.50 per 19-kg cylinder
NEW DELHI: Commercial cooking gas (LPG) prices were on Friday cut by Rs 39.50 per 19-kg cylinder in line with softening international benchmarks. However, the price of domestic LPG — used in household kitchens for cooking purposes — remained unchanged at Rs 903 per 14.2-kg cylinder. Commercial LPG — used in various establishments such as […]