Category: Oil & Gas

India taking up Russia’s offer of discounted crude oil would not be a violation of American sanctions, the White House has said. “Our message to any country continues to be that abide by the sanctions that we have put in place and recommended,” White House Press Secretary Jen Psaki told reporters at her daily news […]

India taking up Russia’s offer of discounted crude oil would not be a violation of American sanctions, the White House has said. “Our message to any country continues to be that abide by the sanctions that we have put in place and recommended,” White House Press Secretary Jen Psaki told reporters at her daily news […]

Exemption from registration fees and road tax for CNG vehicles for two years, as declared by the state government in its Budget on Friday, will go a long way in spurring adoption of cleaner fuel in Bengal, said sources in the industry. Similar exemptions for electric two-wheelers and four-wheelers will also spur demand and accelerate […]

With the state elections over, the stage is set for a sharp rise in fuel prices. The PSU oil companies last revised prices in November. Brokerages such as Jefferies said petrol and diesel prices may need to be hiked by Rs 20-22 per litre and Rs 22-32 per litre, respectively, to restore normal margins. The […]

Oil prices bounced back on Thursday from a sharp drop in the previous session after the United Arab Emirates backtracked on statements saying that Opec and its allies might increase output to help to plug the gap in exports from Russia. In a volatile market, Brent crude futures were up $4.90, or 4.4 per cent, […]

Natural gas prices are likely to double next month from the present $2.90 per mBtu because of the spike in global demand at the gas hubs, analysts said. Prices are benchmarked to the global hubs and are set twice a year. Analysts estimate the prices to double to $6 per mBtu from $2.90 per mBtu. […]

US President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation against the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up US energy prices. “We’re banning all imports of Russian oil and gas energy,” Biden told reporters at the White […]

Petrol and diesel prices are likely to be hiked this week as oil companies prepare to pare losses accumulated from keeping rates steady for over four months in the run-up to assembly elections in five states, including Uttar Pradesh, despite international oil prices jumping to a 13-year high of $140 per barrel. Fuel prices need […]

US President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation against the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up US energy prices. “We’re banning all imports of Russian oil and gas energy,” Biden told reporters at the White […]

EU plans a two-thirds cut in Russian gas imports The European Commission has announced a plan to drastically reduce imports of Russian gas in 2022 by finding new supplies, increasing storage capacity, reducing energy consumption and increasing renewable sources. “By the end of this year, we can replace 100 billion cubic metres of gas imports […]

Oil prices spiked to their highest levels since 2008 on Monday amid market supply fears as the United States and European allies considered banning Russian oil imports and prospects for a swift return of Iranian crude to global markets receded. Brent crude reached $139.13 a barrel and US West Texas Intermediate (WTI) hit $130.50 in […]

More market turmoil looms for the rupee and shares with investors spooked by soaring oil prices as the Ukraine war rages and the impact that sanctions against Russia could have on India and the global economy. The rupee crashed Monday to an all-time low, sliding by a huge 81 paise to close at 76.99 just […]