Category: Oil & Gas

New Delhi, May 19 () India’s top refiner Indian Oil Corp (IOC) will evaluate the implications of US sanctions if Iran was to invest in its subsidiary Chennai refinery’s Rs 35,700 crore expansion, its Chairman Sanjiv Singh said. IOC plans to pull down the 1 million tonnes per year Nagapattinam refinery of its subsidiary Chennai […]

NEW DELHI/MUMBAI: Diesel might lose its share in fuelling the passenger car segment in the near future but the key transportation fuel will continue to dominate the multi-utility and sports utility vehicles in the medium term. Industry watchers opined steep price differential between petrol and diesel vehicles post BS-VI transition which will be more evident […]

New Delhi, May 5 () Gujarat Gas Ltd Monday reported a 77 per cent jump in net profit for the quarter ended March on the back of higher sales. Its net profit in the January-March period at Rs 116.54 crore, or Rs 1.69 a share, was higher than Rs 65.95 crore, or Rs 0.96 per […]

Mumbai: Three people, including a senior citizen, were injured after an LPG cylinder explosion led to a fire on the fourth floor of a Versova building on Sunday morning. Fire department personnel said the LPG cylinder explosion occurred either in flat no. 403 or 404, both of which are badly damaged, at Kavita building on […]

New Delhi, May 5 () Prime Minister Narendra Modi may have set a target to cut India’s oil import dependence by 10 per cent but the country’s reliance on foreign oil for meeting its energy needs has jumped to a multi-year high of nearly 84 per cent, latest government data showed. Speaking at the ‘Urja […]

SINGAPORE: India’s demand for liquefied petroleum gas (LPG) rose to a record in the fiscal year ended in March amid government measures to provide cleaner cooking fuel to rural households, and analysts expect consumption to keep rising. About two-thirds of the country’s population lives in rural areas, typically using firewood, coal or dried dung cakes […]

New Delhi, Apr 28 () Equity indices will keep an eye on the movement of oil prices, rupee as well as the ongoing earnings season for further cues in a holiday-shortened week ahead, analysts say. Share markets will have only three trading days this week with Monday and Wednesday being holidays due to general elections […]

Mumbai, Apr 26 () The rupee rebounded by 23 paise to close at 70.02 against the US dollar Friday after Brent crude oil prices receded from a six-month high of USD 75.60/barrel. Forex traders said the greenback’s weakness against key rivals overseas, sustained foreign fund inflows and heavy buying in domestic equities also supported the […]

New Delhi, Apr 25 () The country’s crude oil production fell over 4 per cent in the financial year 2018-19 after aging fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) missed the target, official data showed Thursday. India produced 34.2 million tonne of crude oil in the fiscal year […]

CHENNAI: Escalating international crude oil prices seem to have had little impact on Indian fuel prices due to the ongoing Lok Sabha elections. Petrol prices have largely remained stable in the last one month, though international crude prices jumped by seven per cent per barrel in the last one month. Data sourced from MCX revealed […]

MUMBAI: A possible increase in fuel prices due to the US sanctions on Iranian crude exports can have adverse impacts on the current account deficit (CAD), the rupee and inflation, warns a report. The country meets a tenth of its crude demand from Iran — making it the third largest customer for the Persian country […]

NEW DELHI: US’ decision to end the Iran oil sanctions waiver will not affect India’s investments in Chahbahar port in Iran. The revocation of the “significant reductions exemption” (SRE) which allowed eight countries, including India, to continue to source Iranian oil for the past six months ends on May 2, following which the US expects […]