Category: Oil & Gas

A rally in global stocks ran out of steam on Tuesday despite a jump in Chinese factory activity providing a surprise boost for the virus-hit global economy, while oil prices rebounded from 18-year lows. Asia stocks picked up the baton from a rally on Monday that saw all three of Wall Street’s main indices jump […]

US President Donald Trump said on Tuesday he was ready to help resolve an escalating oil price war between Russia and Saudi Arabia that has helped push crude benchmarks to 17-year lows. The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when Riyadh said last month it would raise […]

Given the corona lockdown crisis, the Centre on Wednesday allowed limited registration of BS IV norms vehicles all over the country, except Delhi/NCR, viz conditional sale and registration of not more than 10 per cent pending BS-4 stock with vehicle dealers within 10 days of lifting of the lockdown in the country. The Supreme Court […]

Reliance Industries Limited (RIL) on Tuesday surpassed TCS to grab the title of most valued firm by market capitalisation. At close of trade, the market capitalisation (m-cap) of RIL was Rs 7,05,211.81 crore, which was Rs 21,133.32 crore more than that of Tata Consultancy Services’ Rs 6,84,078.49 crore valuation on the BSE. Shares of RIL […]

President Donald Trump on Monday said he will shortly be talking with his Russian counterpart Vladimir Putin about plunging oil prices and the impact on US producers. “One of the subjects we’re going to be talking about is energy,” Trump told Fox News in an interview. He said the phone call would be “very soon.” […]

The government on Tuesday extended the deadline for bidding to buy its entire 52.98 per cent stake in the country’s second-biggest oil refiner, Bharat Petroleum Corp Ltd (BPCL), by over a month to June 13. The government had earlier this month invited expression of interest, or bids showing interest in buying its stake, by May […]

Saudi Arabia on Monday said it will raise its oil exports to a record 10.6 million barrels per day starting from May, escalating a price war with Russia. Oil prices are languishing at 17-year lows as the coronavirus pandemic threatens a global recession that will send demand plummeting. Saudi Arabia, the world’s top oil exporter, […]

International oil prices on Monday plunged to a 17-year low but retail petrol and diesel prices in India remained on freeze as oil companies continued to set off gains against the excise duty hiked by the Government. Brent crude futures dropped to around USD 23 per barrel — the lowest since November 2002, while US […]

National oil marketing companies have come out on Sunday allaying the fears of consumers about product shortages, saying there is absolutely no shortage of any fuel, especially cooking gas, which is being supplied to customers at their doorsteps. On average, the daily supply of cooking gas has gone up by at least 35-40 per cent […]

India, the world’s third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stocks to last way beyond the three-week nationwide lockdown as all plants and supply locations are fully operational, Indian Oil Corp (IOC) Chairman Sanjiv Singh said. Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches […]

The United States on Thursday granted Iraq a 30-day waiver to keep importing Iranian gas despite American sanctions, two Iraqi officials told AFP, the shortest extension yet. The US slapped tough sanctions on the Iranian energy sector in late 2018 and has granted Iraq a series of waivers, usually for 45, 90 or 120 days. […]

The Ranchi district administration on Thursday extended the essential items to be delivered through door to door system. The district administration on Wednesday started door to door delivery of essential food grains in association with supermarkets such as Big Bazaar, Reliance Fresh, Suvidha Supermart. Now, the district administration will even supply milk, bread and gas […]