Category: Oil & Gas

The Government proposes to implement a new floor price mechanism for gas produced from domestic fields by companies such as the Oil and Natural Gas Corporation (ONGC) to prevent the fuel price from crashing below an identified threshold in current subdued market conditions. Domestic gas price has fallen to $1.79 per million British thermal units […]

State-owned Oil India Ltd (OIL) has posted a profit after tax of Rs 2,584 crore with revenue of Rs 13,649 crore in fiscal 2019-20, its Chairman and Managing Director Sushil Chandra Mishra said on Tuesday. Addressing the 61st Annual General Meeting virtually, he said that during 2019-20, OIL’s annual domestic production of crude oil stood […]

Drivers who ferry Indane LPG cylinders from IOC bottling plants in Gurgaon and Karnal were trained in tyre care and safety, particularly tread wear Indicators present on the tyres, by a team of Automotive Tyre Manufacturers Association and its technical arm Indian Tyre Technical Advisory Committee (ITTAC) in collaboration with Indian Oil. “Transporting LPG cylinders […]

Diesel prices continued to dip for the third straight day on Sunday on the back of subdued crude oil prices globally. In the national capital, diesel was priced at Rs 70.80 per litre, 14 paise down from Rs 70.94 a litre on Saturday. Similarly, its price fell in the other metros as well. In Mumbai, […]

On the occasion of World Tourism Day, Oil Minister Dharmendra Pradhan on Sunday urged for switching prime tourist destinations to 100 per cent clean fuel. He was addressing a virtual meet on ‘tourism and rural development’ along with Tourism Minister Prahlad Singh Patel, an official statement said here. Pradhan commended the Ministry of Tourism for […]

Taking advantage of low prices in major oil-producing centres in Saudi Arabia and UAE, India has filled up its strategic crude oil reserves to meet its energy needs in times of emergency and saved a neat $685.11 million in the process. It bought crude oil at an average price of $19 per barrel to fill […]

A major fire broke out in the Oil and Natural Gas Corporation’s gas processing plant at Hazira in Gujarat’s Surat district in the early hours of Thursday, officials said. There was no report of any casualty, they said. “The fire broke out in the inlet gas terminal of the plant following three massive blasts at […]

GAIL (India) Limited has won the Leaders Award in the Mega Large Business, Process Sector category in the 11th edition of Frost & Sullivan – MEASA and TERI – The Energy and Resources Institute’s Sustainability 4.0 Awards 2020. The award recognises corporates in sustainable development practices that provide a measurable and verifiable framework for sustainability. […]

Diesel prices continued to decline for the fourth consecutive day on Sunday on the back of falling global crude prices. In the national capital, diesel was priced at Rs 71.58 per litre, down from Rs 71.82 on Saturday. Similarly in the other metros of Mumbai, Chennai and Kolkata, the fuel was sold for Rs 78.02, […]

In a special drive, three petrol pumps in Jajpur district were inspected by officials on Friday and a fine of Rs 15,000 was collected from them for not adhering to the Covid-19 guideline of social distancing.The drive would be continued and the outlets sealed if they continue to violate the norm, said Jajpur Tehsildar Susant […]

To reassure our customers about Quality & Quantity (Q&Q) of Petrol and Diesel being sold at retail outlets (ROs) IndianOil has launched a Check & Fill campaign at its 50 automated ROs in Bhopal. It will be operated initially up to September 26, 2020 and will be further extended based on customer response. “Test Karo […]

India’s fuel demand in August posted its biggest decline since April as local lockdowns put brakes on economic activity and transportation, official data showed on Thursday. Petroleum product sales fell to 14.39 million tonnes in August, down 7.5 per cent over the previous month and about 16 per cent from a year earlier, data from […]