Category: Oil & Gas

Shares in the energy-dependent Gulf plunged to multi-year lows on Sunday after OPEC and its allies failed to clinch a deal on production cuts to support prices that have been hit by the novel coronavirus. The Saudi stock market, the largest in the region, dived by 7.7 per cent minutes from the opening bell after […]

Shares in the energy-dependent Gulf plunged to multi-year lows Sunday after OPEC’s failure to agree on a coronavirus action plan prompted fears of an all-out oil price war. OPEC and its allies failed to clinch a deal on production cuts that would have offered support to energy markets, sending prices tumbling to four-year lows on […]

As a part of efforts directed at reviving the shutdown sugar mills of the State, in principle approval has been accorded to the establishment of a compressed biogas plant worth Rs 180 crore at Rakhra (Patiala) sugar mill. The decision was taken by the state Cooperation Minister Sukhjinder Singh Randhawa on Friday while presiding over […]

Vipul Kumar Jain has assumed the charge as head of corporate administration at ONGC this month following the superannuation of Preeta Pant Vyas, ED-HCA. Jain was earlier posted as infrastructure head at Dehradun since May 2016 and will continue to hold additional charge of infrastructure head in addition to his new assignment. During his tenure […]

Crude oil prices on Wednesday surged 2.37 per cent to Rs 3,539 per barrel as participants enlarged their holdings tracking a positive trend overseas. Analysts said raising of bets by participants kept crude prices higher in futures trade here. On the Multi Commodity Exchange, crude oil for delivery in March traded higher by Rs 82, […]

Reliance Industries (RIL) said on Saturday that it has acquired 37.7 per cent stake in the debt-ridden Alok Industries Ltd for Rs 250 crore. This comes after the Ahmedabad bench of the National Company Law Tribunal (NCLT) had last year approved its joint acquisition proposal with JM Financial Asset Reconstruction Co Ltd. State Bank of […]

Fitch Ratings on Friday said HPCL-Mittal Energy Limited’s credit metrics over 2019-20 and 2020-21 financial years would worsen by more than previously expected due to near-term weakness in refining margins and a faster pace of its petrochemical (petchem) capex. Earlier this week, Moody’s Investors Service downgraded the corporate family rating of HMEL to Ba2 from […]

India’s domestic gas demand is at an inflection point and is expected to see a 66 per cent volume growth over the next five years, primarily driven by sustained weak LNG prices, as per a report. Gas demand is expected to rise from 148 million standard cubic meters per day in 2018-19 to 250 mmscmd […]

US oil supplies to India have jumped ten-fold to 2,50,000 barrels per day (bpd) in the last two years in signs of growing energy ties between the two nations. Speaking at a business meeting alongside US President Donald Trump, US Energy Secretary Dan Brouillette said India imported 25,000 barrels per day of crude oil from […]

The Municipal Corporation of Dehradun (MCD) has marked lands for the construction of a petrol pump, gas agency and skill development centre as approved in its board meeting. Talking to The Pioneer, Dehradun mayor Sunil Uniyal ‘Gama’ said that the sites have been identified for the construction of petrol pump, gas agency and other works […]

India will switch to the world’s cleanest petrol and diesel from April 1 as it leapfrogs straight to Euro-VI emission compliant fuels from Euro-IV grades now – a feat achieved in just three years and not seen in any of the large economies around the globe. India will join the select league of nations using […]

The Adani family-owned Adani Gas has secured a nod from oil regulator for its demerger from its parent and the subsequent sale of a stake in the company to French energy giant Total SA after it made a formal application for the same, sources said. The Petroleum and Natural Gas Regulatory Board (PNGRB) had threatened […]