Category: Oil & Gas

WASHINGTON: The Trump administration on Monday put India in a tight energy fix and strategic tangle, ending the waiver that allowed New Delhi to buy Iranian oil even as it whittled down supplies from Tehran, a long-term source and partner in the region. “The current waivers expire on May 2. There are no SRE (significant […]

Mumbai: Government-owned natural gas distribution company GAIL has emerged the winning bidder for IL&FS’ wind assets portfolio. The bid of Rs 4,800 crore for 100% of enterprise value, which more than covers the debt, was unanimously approved by the committee of creditors of IL&FS Wind Energy (IWEL), the majority owner of the SPVs. A statement […]

New Delhi, Apr 21 () Hindustan Petroleum Corp Ltd (HPCL) has for the fifth consecutive quarter listed its majority shareholder ONGC as a public shareholder and not its promoter, but it will face a real test when the vacant posts of directors on the company board are filled. Oil and Natural Gas Corp (ONGC) in […]

PRUDHOE BAY, Alaska: New technology is being used to search for untapped oil in an Alaska bay that is already an established source of fossil fuel, according to officials. Oil and gas company BP is employing “3D seismic” technology to locate small pockets of previously undiscovered oil in Prudhoe Bay in northern Alaska, the Fairbanks […]

NEW DELHI: The Indian Oil Corporation (IOC) has resumed aviation fuel supply to Jet Airways after the airline assured that it will clear its dues, news agency PTI reported citing sources. Earlier on Friday, the country’s largest commercial oil company said that it had stopped supplying fuel to Jet Airways, deepening the woes of the […]

MUMBAI: Indian Oil Corporation (IOC) on Friday stopped fuel supply to the struggling carrier Jet Airways for non-payment. The public sector oil marketing firm stopped supplying fuel to the cash-starved carrier from 12 noon Friday, sources told PTI. Response to a query sent to Jet Airways on this issue was awaited. Jet Airways, in which […]

MUMBAI: The price of CNG in Mumbai will be hiked by Rs 1.96/kg to touch Rs51.57, while piped cooking gas rate will go up by Rs2.13/unit from Thursday. The piped gas price will rise from Rs29.40/unit to Rs31.53 for slab 1, and from Rs35/unit to Rs37.13/unit for slab 2 consumers. P 2 This will affect […]

BENGALURU: The city has 1,085 vehicles plying on compressed natural gas (CNG), including 840 cars, 220 auto rickshaws, five two-wheelers and 20 other vehicles, stated Gas Authority of India Ltd (Gail) on Wednesday. Currently, eight CNG stations are operating in the city at Premnagar (Laggere), APC Circle (Jigani), Hardware Park near KIA, Peenya, Sunkadakatte, Bommasandara-Jigani […]

NEW DELHI: CNG and PNG will become costlier in Delhi and its suburbs from Thursday as Indraprastha Gas Ltd raised prices to offset the impact of a 10% increase in the price of natural gas produced from domestic fields, a move that is likely to prompt demand for revision in auto, bus and taxi fares […]

Hyderabad: Anil Agarwal-led Vedanta Limited on Wednesday said it has struck oil in the Krishna-Godavari Basin. The company has notified the management committee, directorate general of hydrocarbons and ministry of petroleum and natural gas about oil discovery in the second exploratory well H2, in the KG-OSN-2009/3 block in the Krishna-Godavari Basin, where the company holds […]

LONDON: ICICI Bank UK has won a £44 million (Rs 401 crore) case against Assam Oil, the parent company of India’s oldest tea company, at the high court in London. The UK subsidiary of ICICI Bank was suing Assam Oil, registered in England, the parent company of Assam India, for damages for breach of contract […]

BENGALURU: A leakage in a GAIL pipeline near Corporation Bank ATM in Singasandra, Hosur Main Road, sparked a blaze that raged for over an hour-and-a-half, causing panic in the area on Sunday evening. According to residents, the leak was first noticed around 6.55pm and two fire tenders – one from Electronics City fire station and […]