Category: Oil & Gas

Russia is offering 15 million barrels of cheap crude oil from the Urals to India for this year. Discussions on the contract and payment are being held with the possibility of a deal being signed during Russian foreign minister Sergei Lavrov’s two-day visit to India which begins Thursday. A Bloomberg report said sanctions-hit Russia is […]

Russian President Vladimir Putin said on Thursday that he had signed a decree saying foreign buyers must pay in roubles for Russian gas from April 1, and contracts would be halted if these payments were not made. “In order to purchase Russian natural gas, they must open rouble accounts in Russian banks. It is from […]

Petrol and diesel prices were on Thursday hiked by 80 paise a litre each, taking the total increase in rates in the last 10 days to Rs 6.40 per litre. Petrol in Delhi will now cost Rs 101.81 per litre as against Rs 101.01 previously while diesel rates have gone up from Rs 92.27 per […]

Rahul Gandhi on Wednesday claimed that Prime Minister Narendra Modi began each day by pondering how much he should raise the price of petrol and which public sector unit he should sell next. “Prime Minister’s Daily To-do List: 1. How much rate of petrol-diesel-gas should I raise 2. How to stop discussion on expenses (Kharche […]

Germany began preparing for eventual shortages of natural gas on Wednesday, as the country’s economy minister pointed to growing concerns that Russia could cut off deliveries unless payments on existing contracts are made in roubles. The government activated the first step of a national gas emergency plan that could, eventually, lead to rationing of natural […]

Oil prices jumped by more than 3 per cent on Wednesday on supply tightness and the growing prospect of new Western sanctions against Russia even as Moscow and Kyiv held peace talks. Brent crude futures were up $3.07, or 2.79 per cent, at $113.30 by 1215 GMT, reversing a 2 per cent loss in the […]

Petrol and diesel prices were on Wednesday hiked by 80 paise a litre each, taking the total increase in rates in the last nine days to Rs 5.60 per litre. Petrol in Delhi will now cost Rs 101.01 per litre as against Rs 100.21 previously while diesel rates have gone up from Rs 91.47 per […]

As the Indian Youth Congress on Tuesday protested against the rising prices of essential commodities by cooking on the road, Rashtriya Janata Dal Rajya Sabha member Manoj Jha said the BJP wasn’t worried because its electoral successes didn’t depend on solving people’s problems. Jha argued that the Narendra Modi government didn’t pay even a modicum […]

Three years ago, a homemaker would spend around Rs 550 for an LPG cylinder. Now, she spends Rs 1,000. If the price of diesel four years ago burnt a hole in the pocket of a taxi driver, it has now pushed him to the brink of penury. The spiralling fuel prices have scalded millions. But […]

Petrol price on Tuesday crossed Rs 100 a litre mark after rates were hiked by 80 paise a litre and 70 paise in case of diesel, taking the total increase in rates in one week to Rs 4.80 per litre. Petrol in Delhi will now cost Rs 100.21 per litre as against Rs 99.41 previously […]

The United Arab Emirates’ energy minister doubled down Monday on an oil alliance with Russia that’s helped buoy crude prices to their highest in years as Moscow’s war on Ukraine rattles markets and sends energy prices soaring. The minister said Russia, with its 10 million barrels of oil a day, is an important member of […]

India has no plans to pay in rupees for the Russian oil its public sector companies buy, Parliament was informed on Monday. India buys less than 1 per cent of its oil from Russia. But Western sanctions against Russia for its invasion of Ukraine have given way to the talk of a rupee trade for […]