Jet fuel or ATF price on Wednesday was cut by almost 6 per cent after four rounds of monthly increases since July, while commercial cooking gas (LPG) rates were raised by a steep Rs 101.5 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG – used in household kitchens for […]
Category: Oil & Gas
Government hikes windfall tax on crude oil to Rs 9,800 per tonne, cuts levy on diesel
The government on Tuesday increased the windfall profit tax on crude oil produced in the country and reduced the levy on exports of diesel. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil was increased to Rs 9,800 per tonne from Rs 9,050 a tonne, according […]
Adani-Total Gas September quarter profit up 20% to Rs 168 crore
NEW DELHI: Adani Total Gas Ltd, the city gas joint venture of Adani Group and TotalEnergies of France, on Tuesday reported 20 per cent rise in September quarter net profit on CNG sales boost. Net profit of Rs 168 crore in July-September was 20 per cent higher than Rs 139 crore net profit in the […]
Indian demand for Russian crude oil roars back, but it’s not so cheap anymore
India has recovered its enormous appetite for Russian oil and is likely to buy between 1.5 million barrels per day (mbpd) and 1.7 mbpd, moving back to levels last seen around March. Buying levels had plunged in August and September because of a combination of factors, including a drop in demand as the monsoons set […]
Non-functional OIL well reports fluid leak in Assam’s Dibrugarh district
Leakage of fluids, mainly water, was reported from a non-functional oil well in Assam’s Dibrugarh district after unidentified people stole key equipment, a spokesperson of Oil India Limited (OIL) said on Friday. ‘X-Mas tree’, a key piece of equipment that controls the flow of gas or oil in a well, was cut off and stolen […]
Oil hunt in no-go zone under Union government’s Open Acreage Licensing Programme
The government plans to invite bids for eight oil and gas blocks as part of the Open Acreage Licensing Programme (OALP) regime, which offers pricing and marketing freedom. It has opened up no-go areas on Indian seas that is under the country’s jurisdiction to prospectors for the first time. The ministry of petroleum and natural […]
Israel-Hamas conflict fuels rise in commodity prices
After a surge this summer when oil prices approached $100 a barrel, the cost of crude was tumbling again. Now a West Asian war has sent it right back up. Traders drove up the price of oil as much as 5 per cent as fighting escalated between Israel and Hamas after the terrorist group attacked […]
Israel retaliates after Hamas attacks, deaths pass 1,100
Hamas’ assault on Israel drove oil prices higher on Monday as markets priced in fears of a wider conflict in the Middle East, a day after Israel pounded the Palestinian enclave of Gaza in retaliation for one of the bloodiest attacks in its history. Fighters from Islamist group Hamas killed 700 Israelis and abducted dozens […]
Modi government hikes cooking gas subsidy for poor amid Opposition cry over high fuel prices
The government on Wednesday raised the subsidy provided to poor women, who got free cooking gas connections under the Ujjwala Yojana, to Rs 300 per cylinder as it looked to blunt Opposition criticism of high fuel prices. The Cabinet Committee on Economic Affairs raised the subsidy from Rs 200 per 14.2-kg cylinders for up to […]
Government hikes LPG subsidy for Ujjwala beneficiaries to Rs 300 per cylinder
The government on Wednesday hiked the subsidy paid to poor women who got cooking gas connections under Ujjwala scheme, to Rs 300 per cylinder from the current Rs 200, Union Minister Anurag Thakur said.
ATF price hiked 5 per cent, commercial LPG rates raised by Rs 209 per 19-kg cylinder
Jet fuel or ATF price on Sunday was hiked by 5 per cent — the fourth straight monthly increase since July, and commercial cooking gas (LPG) rates were raised by a steep Rs 209 per 19-kg cylinder, in line with the firming up seen in international benchmarks. However, the price of domestic LPG – the […]
Anil Agarwal’s Vedanta announces demerger to split business into six listed entities
Two of Anil Agarwal’s India-listed companies on Friday announced big plans to spin off their businesses. Vedanta Ltd, the metals-to-mining conglomerate, is undertaking an extensive demerger to unlock value that will see it split into six listed firms. The businesses that will be demerged include aluminium, oil and gas, power, steel and ferrous materials and […]