The price of oil surged on Friday as global investors were gripped with uncertainty over the potential repercussions after the United States killed Iran’s top general. News that Gen Qassem Soleimani, head of Iran’s elite Quds Force, was killed in an air attack at the Baghdad international airport prompted expectations of Iranian retaliation against US […]
Category: Oil & Gas
Cong protest against hike in LPG outside Shastri Bhawan
The Delhi Congress on Thursday held a protest outside Shastri Bhawan, demanding a rollback of the hike in LPG (Liquefied petroleum gas) prices. Party workers, led by Delhi unit president Subhash Chopra, also raised the slogan of “Awaaz do, hum ek hai” (Call us, we are one) that had rent the air during protests against […]
Naidu to open B’ngir LPG bottling plant
Vice-President M Venkaiah Naidu is scheduled to visit Odisha on December 27 and inaugurate an LPG bottling plant of the Bharat Petroleum Corporation Limited (BPCL) at Barkani village in Balangir district. Informing this at a Press meet here on Sunday, BPCL officials said the bottling plant would benefit residents of as many as 14 districts […]
Reliance tears into Govt affidavit, says no final arbitration award due
Reliance Industries has mounted a strong counter to the Government petition in the Delhi High Court seeking to block its $15 billion deal with Saudi Aramco, saying the petition is an abuse of process as no arbitration award has fixed any final liability of dues on the company. In a counter affidavit, Reliance said it […]
Reliance Infrastructure wins Rs 1,250 cr arbitration award against DVC
Reliance Infrastructure on Monday said it has won an arbitration award of Rs 1,250 crore against Damodar Valley Corporation (DVC). The proceeds will be used to pay lenders and reduce the debt of the company, the infrastructure firm said in a filing to BSE. A three-member arbitration tribunal unanimously gave the award in favour of […]
Oil tanker overturns in K’put; traffic hit
An oil tanker overturned on NH-26 in Jeypore affecting vehicular movement on Tuesday morning. The driver of the tanker, which was heading towards Visakhapatnam from Raipur, lost control over the wheels, following which it turned turtle, resulting in leakage of oil from the vehicle. Later, the tanker was repositioned with the help of a crane […]
Citizenship Act stir hits oil, gas output in Assam
Crude oil and gas production in Assam have witnessed a drastic fall due to the ongoing state- wide protest against the contentious Citizenship (Amendment) Act, affecting supply of petrol, diesel and LPG in many districts. The two major PSU fuel producers Oil India Ltd (OIL) and Oil and Natural Gas Corporation (ONGC) on Sunday said […]
ONGC launches All-India Toll-Free Helpline
Oil and Natural Gas Corporation Limited (ONGC) launched an All-India Toll-Free 24X7 Helpline Number – 1800-1800-088 – during the inaugural session of the Security Awareness Week 2019. The emergency helpline number was unveiled by former director of Intelligence Bureau, Rajiv Jain in the presence of ONGC Chairman and Managing Director (CMD) Shashi Shanker, directors on […]
Oil market still unbalanced despite OPEC+ cuts: IEA
Additional cuts by the powerful OPEC group of oil producers and its allies may not be enough to eliminate a glut of crude on the global market, the IEA warned on Thursday. Meanwhile, energy consumption by China is bounding higher — a signal that the country’s economy may be in better shape than widely thought […]
CAG finds Ujjwala misuse
The Comptroller and Auditor General (CAG) has found rampant misuse of the Pradhan Mantri Ujjwala Yojna (PMUY) in terms of low consumption, diversions and considerable delays in supply of cylinders. The CAG noticed that due to lack of input validation check in Indian Oil Corporation Limited (IOCL) software, 1.88 lakh connections were released against Abridged […]
UN says cannot confirm Iran behind Saudi oil attack
The UN has been unable to confirm Iranian involvement in a dramatic attack on oil facilities in Saudi Arabia earlier this year, secretary-general Antonio Guterres said. Drones and cruise missiles were used in the September bombardment, which knocked out half of the kingdom’s crude production and fueled a record surge in prices. Saudi officials, the […]
Doorstep delivery of LPG cylinders irregular in B’pur
The much-hyped policy directive of timely and hassle-free delivery of cooking gas right at the doorstep of the consumers by the Ministry of Petroleum has proved hollow since some distributors operate by their whims. Arbitrary, discriminatory and irregular delivery of cooking gas by some of the local distributors has spread discontent among the consumers here […]