Category: Oil & Gas

Adani and TOTAL have signed agreements to deepen their existing partnership and commitment for developing multi-energy offerings to the Indian energy market. City Gas Distribution is a natural extension of the plans of both partners to invest in infrastructure and assets worth over US$1 billion, which span Liquefied Natural Gas (LNG) infrastructure and marketing and […]

The tragic death of mother daughter duo in North East Delhi has once again raised the issue of sale of illegal small gas cylinders. There is an organised mafia that pilfer Liquefied Petroleum Gas (LPG) cylinders by using crude equipment and is rampant in the National Capital. The practice of transferring the highly inflammable gas […]

Shares of BPCL fell over 3 per cent on Monday after the government repealed the legislation that had nationalised the company. On the BSE, the stock declined 3.53 per cent to Rs 497. The shares of the PSU fell 3.21 per cent to Rs 499 on the NSE. Ahead of a proposed move to fully […]

Ahead of a proposed move to fully privatise State-owned fuel retailer Bharat Petroleum Corp Ltd (BPCL), the Government had quietly repealed the legislation that had nationalised the company, doing away with the need to seek Parliament nod before selling it off to private and foreign firms. The Repealing and Amending Act of 2016 had annulled […]

The international Credit Rating Agency Moody’s on Thursday warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1, if the government goes ahead with privatisation by selling its stake to private entity. Currently, being a state-owned enterprise, BPCL has a BBB- rating which is on par with sovereign rating. Ba1 rating will be equal to its […]

Oil prices fell more than one per cent on Monday after Saudi Arabia’s de facto leader said war with Iran would destroy the world economy and hinted instead at a non-military solution. Washington, Riyadh, Berlin, London and Paris blame Iran for attacks that damaged the Saudi oil sector on September 14 and forced the world’s […]

The Government on Monday cut domestic natural gas price for the first time in two-and-a-half years but rates for gas produced from difficult fields such as Reliance Industries’ under-development fields in KG-D6 block are still at almost the same level as the one fixed during the Congress-led UPA regime. The price of most of the […]

Ultra-clean BS-VI grade petrol and diesel supplies will expand to seven more districts of Haryana from October 1 to cover the entire national capital region as oil companies extend the fuel coverage to all over the country in a phased manner. While the country will leapfrog from the current BS-IV grade fuel to BS-VI, which […]

Union road transport minister Nitin Gadkari on Friday said using bio-fuels can reduce crude oil imports which will help save foreign exchange on one hand also achieve the USD 5-trillion GDP goal by 2025. Gadkari said his ministry has taken various steps to promote bio-fuels like ethanol and butanol which are not only feasible but […]

The government is considering a proposal to sell India’s second-largest state refiner and fuel retailer BPCL to foreign and private firms but the privatisation plan will need a prior nod of Parliament, officials said. Keen to get multi-nationals in domestic fuel retailing to boost competition, the government is mulling selling most of its 53.3 per […]

Despite reeling under the impact of worst ever attacks on its oil installations, Saudi Arabia has said that it is looking at investing $100 billion in India in areas of petrochemicals, infrastructure and mining among others, considering the country’s growth potential. Saudi Ambassador Dr Saud bin Mohammed Al Sati has said India is an an […]

Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that state-owned oil companies had introduced more than two-and-a-half years back to promote digital payments. “Dear SBI credit cardholder, as advised by public sector oil marketing companies, the 0.75 per cent cashback on fuel transactions […]