Sri Lanka has reached out to several companies suggested by Russia’s embassy in Colombo to buy crude oil, Energy Minister Kanchana Wijesekera said on Sunday, in an attempt by the debt-ridden island nation to get oil on credit to keep its only oil refinery running. Wijesekera told the media that the Russian ambassador in Colombo […]
Category: Oil & Gas
Anupam Agarwal OVL’s new Director (Finance)
Anupam Agarwal has taken over as Director (Finance) of ONGC Videsh Ltd, the company said on Monday. “Agarwal was recommended to the position by Public Enterprises Selection Board (PESB) on February 28, 2022 and has (now) been appointed to the post by the President of India,” the company said in a statement. He took over […]
ATF prices hiked by 16%; touch new record
Jet fuel prices on Thursday were hiked by the steepest ever 16 per cent to catapult rates to an all-time high in step with hardening international oil rates. The price of aviation turbine fuel (ATF) — the fuel that helps aeroplanes fly — has been increased by `19,757.13 per kilolitre, or 16.26 per cent, to […]
Germany steps up calls to save energy as Russia reduces gas
Germany’s vice chancellor is stepping up an appeal for the country’s residents to save energy after Russia’s Gazprom announced significant cuts in natural gas deliveries through a key pipeline. State-owned Gazprom announced on Tuesday that it was cutting gas flows through the undersea Nord Stream 1 pipeline to Germany by 40%, then, a day later, […]
To rein in pvt retailers, Govt expands USO to remote petrol pumps
In a bid to rein in private fuel retailers curtailing operations to cut losses, the government has expanded the scope of Universal Service Obligation (USO), mandating licensed entities to maintain petrol and diesel sales at all petrol pumps, including in remote areas, for specified working hours. “The government has now expanded the horizon of USO […]
Retail inflation eases to 7.04% in May on softening food, fuel prices
Retail inflation eased to 7.04 per cent in May, mainly on account of softening food and fuel prices as government as well as RBI stepped in to control spiralling price rise by way of duty cuts and repo rate hike. However, the inflation print stayed above the Reserve Bank’s upper tolerance level of 6 per […]
Sri Lanka PM says he’s open to Russian oil
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed prime minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
Open to Russian oil: Sri Lanka PM
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed prime minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
OTC-4 inaugurated in Gas Utilities Dept of BSL
After modification in the Gas Utilities Department of Bokaro Steel Plant, the Excitation System of Russian Compressor of Oxygen Service was inaugurated by Sanjay Kumar, Executive Director (Works). During the event CGM (Electricity) Ved Prakash, CGM (Utilities) Sharad Gupta, GM (Gas Utilities) SS Sinha, GM (Gas Utilities) Arun Chauhan, GM (Gas Utilities) Sanjay Gupta, GM […]
BPCL winds up data room after Govt puts off privatization
State-owned Bharat Petroleum Corporation Ltd (BPCL) has discontinued all activities associated with the disinvestment of the company after the government dropped plans to privatise the firm for now. In a stock exchange filing, the company said the government has through a letter dated June 3, 2022, called off the present tender to sell its entire […]
Crude oil futures gain on spot demand
Crude oil prices on Tuesday rose by `14 to ` 9,239 per barrel as participants widened positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for June delivery traded higher by `14 or 0.15 per cent at `9,239 per barrel in 12,582 lots. Analysts said the raising of bets by participants […]
Vedanta to raise up to Rs 4,089 crore via NCDs
Vedanta Ltd on Saturday said a committee of directors has approved raising up to Rs 4,089 crore via debentures on a private placement basis. “An authorised committee of directors at its meeting held today i.E. June 4, 2022, considered and approved offering for subscription… Up to 40,890 nos secured, rated, listed, redeemable, non-convertible debentures (NCDs) […]