NEW DELHI: Oil producers cartel OPEC’s share in India’s oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed. Organization of the Petroleum Exporting Countries (OPEC) nations, mainly in the Middle East and Africa, had a 72 per cent share of all […]
Category: Oil & Gas
Adani Total Gas auditor mentioned in Hindenburg report, resigns
NEW DELHI: Ahmedabad-based chartered accountancy firm Shah Dhandharia & Co., which was named in Hindenburg Research’s stinging report on Adani Group, has resigned as statutory auditor of Adani Total Gas, citing ‘professional pre-occupation’ as the reason.
Karnataka polls: Parties woo women with free cylinders
BENGALURU: Parties contesting the Karnataka assembly polls are betting big on promises of women’s employment, health and education. The Big 3 — Bharatiya Janata Party (BJP), Indian National Congress (INC) and Janata Dal Secular (JDS) — are trying to woo almost 50 per cent of the voting population by assuring multiple freebies and cash assistance.
Commercial LPG, ATF prices reduced
NEW DELHI: Oil marketing companies (OMCs) on Monday slashed the price of commercial LPG by Rs 171.5 per cylinder. Now, a 19-kg commercial cylinder, which is used in restaurants and hotels, will cost Rs 1,856.5 in the national capital, down from Rs 2,028.
RIL, bp seek six million standard cubic metres per day more gas from KG-D6 block
NEW DELHI: Reliance Industries (RIL) and its partner UK-based bp sought bids for 6 million standard cubic metres per day of more gas from their KG-D6 block. As per the reports citing tender documents, the electronic auction will be held on May 19 for the gas from the MJ field that will begin supplying from […]
India’s fuel sales rise in April as agri demand picks up
NEW DELHI: India’s fuel sales rose in April as diesel demand grew on the back of a pick up in harvesting of Rabi crops and expansion of economic activity, preliminary industry data showed on Monday.
USD 400 mn dividend of 4 Indian firms stuck with Russian oil companies
NEW DELHI: Nearly USD 400 million dividend of four Indian companies are stuck with Russian oil companies because of the sanctions imposed by Western countries on Russia. According to an official of the petroleum ministry, companies including ONGC Videsh Ltd, Oil India, Bharat Petroleum Corp, and Indian Oil Corp are not able to repatriate the […]
Private fuel retailers Reliance-bp, Nayara Energy price petrol & diesel at market rates
NEW DELHI: India’s private fuel retailers — Reliance-bp and Russia’s Rosneft-backed Nayara Energy — have begun pricing petrol and diesel at market rates for the first time in over a year after a fall in global oil prices cut losses, sources said. Reliance BP Mobility Ltd (RBML), a joint venture between Reliance Industries Limited and […]
Eknath Shinde says oil refinery project will not proceed without consent of Barsu villagers
MUMBAI: Maharashtra Chief Minister Eknath Shinde on Saturday assured the proposed oil refinery at Barsu will not proceed further without the villagers’ consent.
‘El Nino, crude prices threats to India’s growth’
NEW DELHI: The government sees OPEC’s (organization of the petroleum exporting countries) crude oil output cut, impact of EI Nino on Indian monsoon and the financial sector turmoil in developed countries as downside risk to India’s 6.5% GDP growth estimate in FY24, the finance ministry said in its monthly economic review on Monday.
Petroleum product exports decline by 10.9 per cent in March
NEW DELHI: India’s export of petroleum products decreased by 10.9% in March 2023 and 2.7% during April 2022-March 2023 as compared to the corresponding period of the previous year.
Russia’s oil exports soar to record high in March
NEW DELHI: Sanctions on Russian oil by Western countries failed to have any major impact as the country’s oil export soared in March 2023 to the highest level since April 2020.According to the monthly oil market report by the International Energy Agency (IEA), the oil shipments rose by 0.6 million barrels per day (mb/d) to […]