Category: Oil & Gas

Saudi Aramco on Sunday reported a 20.6 per cent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement. These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the […]

The Indian economy will likely see significant benefits in the form of lower current account deficit, reduced inflation and higher GDP following a slump in international crude oil prices, Kotak Institutional Equities Research said on Wednesday. The collapse in cooperation between Saudi Arabia and Russia has triggered a plunge in oil prices that shows no […]

Oil prices tumbled on Wednesday after Saudi Arabia dialled up its price war by hiking production by one million barrels a day, while a rally in equities went into reverse as investors nervously await a US coronavirus relief plan. Markets had been showing signs of much-needed stability in early trade following two days of wild […]

IndianOil is completely prepared to roll out BS-VI petrol and diesel through its network of 1,616 retail outlets (ROs) in the State of Madhya Pradesh. While talking to media persons here on Thursday, V Satish Kumar, Executive Director & State Head, Madhya Pradesh State Office (MPSO), said that IndianOil refineries, pipelines, storage terminals and retail […]

Energy giant Saudi Aramco on Wednesday said it plans to raise its crude production capacity by one million barrels per day to 13 million bpd as a price war with Russia intensifies. “Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million bpd […]

Oil plunged over 20 per cent Monday after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets. The two main contracts both lost about a fifth of their value in morning Asian trade, with West Texas Intermediate sliding to about […]

Petrol prices slipped below Rs 71-mark for the first time in eight months on Monday as India looks set to reap windfall from a price war among oil producers leading to international crude prices crashing by their biggest margin since the 1991 Gulf war. International oil prices crashed by close to 31 per cent, the […]

Shares of Reliance Industries Ltd on Monday slumped as much as over 13 per cent amidst a price war among oil producers leading to international crude prices crashing by their biggest margin since the 1991 Gulf war. On the BSE, the stock closed the counter at Rs 1,113.15, tumbling 12.35 per cent. During the day, […]

The Oil India Limited (OIL) would begin exploration in Odisha from April 2020, said Union Petroleum and Natural Gas Minister Dharmendra Pradhan recently. Pradhan harped on intensification of exploration in country’s basins and increase domestic oil and gas production. Out of the 23 blocks awarded to OIL, fiver are in Mahanadi onshore, 11 in Assam […]

Indian Oil Corporation (IOC) on Saturday said it is all set to supply low emission BS-6 from April 1 and that there may be a marginal or slight increase in retail prices. The largest oil supplier of the Country has spent over Rs 17,000 crore to upgrade its refineries to produce the low-Sulphur diesel and […]

International crude oil prices went into downward spiral after major oil producers failed to reach an agreement to reduce production, as concerns about coronavirus impact spread across the globe. The benchmark Brent fell by more than 9 per cent, to as low as $45.50 a barrel, lowest since June 2017. West Texas Intermediate crude, the […]

Oil plunged over 20 per cent Monday after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets. The two main contracts both lost about a fifth of their value in morning Asian trade, with West Texas Intermediate sliding to about […]