Category: Oil & Gas

LONDON: Oil benchmarks were headed for a seventh straight weekly decline on worries over a global supply surplus and weak Chinese demand, although prices recovered ground on Friday after Saudi Arabia and Russia called for more OPEC+ members to join output cuts. Brent crude futures were up $1.93, or 2.6%, at $75.98 a barrel at […]

NEW DELHI: The proposed 5 per cent blending of biogas with natural gas supplies in the country can cut LNG imports worth USD 1.17 billion annually, says a study by the Indian Biogas Association (IBA). The study comes against the backdrop of the government’s recent mandate to blend one per cent biogas with piped natural […]

NEW DELHI: India consumed 7.5% less diesel in November as truckers took a Diwali break but petrol demand shot up by equal percentage points on second consecutive month of bumper car sales, provisional fuel retail market data showed. The growth in electricity demand continued apace, with consumption rising 8.5% year-on-year to 119.6 billion units during […]

NEW DELHI: India consumed 7.5% less diesel in November as truckers took a Diwali break but petrol demand shot up by equal percentage points on second consecutive month of bumper car sales, provisional fuel retail market data showed. The growth in electricity demand continued apace, with consumption rising 8.5% year-on-year to 119.6 billion units during […]

NEW DELHI: The OPEC+ grouping’s decision on Thursday to cut production further could end up resuming pressure on the profitability of state-run fuel retailers, delay possible cuts in interest rates and test the government’s inflation management in the run-up to the general elections next year. At a virtual meeting, the grouping’s members, including Russia, decided […]

LONDON: Saudi Arabia will extend a cut in the amount of oil it sends to the world after a series of previous reductions by members of the OPEC+ alliance of major producing countries failed to prop up prices. That’s been a good thing for US drivers, who have been able to fill their gas tanks […]

NEW DELHI: Shares of Gandhar Oil Refinery (India) Ltd listed with a bang on Thursday, rallying over 76 per cent, against the issue price of Rs 169. The stock made its debut at Rs 295.40, a jump of 74.79 per cent from the issue price on the BSE. It further climbed 103.90 per cent to […]

AHEMDABAD: In a bid to assess the viability of green hydrogen as an alternative energy source for the city gas distribution (CGD) consumers, Adani Total Gas Limited (ATGL) on Tuesday announced the launch of its green hydrogen blending project in Ahmedabad. The pilot project will involve blending green hydrogen with natural gas for at least […]

NEW DELHI: Deregulation of domestic crude appears to have tipped the balance in favour of producers as green shoots of a free market emerge. In term deals signed after getting marketing freedom, state-run producer ONGC is commanding a premium over Brent for Mumbai offshore oil in spite of attempts by buyers, also from the public […]

NEW DELHI: Deregulation of domestic crude appears to have tipped the balance in favour of producers as green shoots of a free market emerge. In term deals signed after getting marketing freedom, state-run producer ONGC is commanding a premium over global benchmark Brent for Mumbai offshore oil in spite of attempts by buyers, also from […]

VARANASI: Oil minister Hardeep Singh Puri on Sunday cautioned the OPEC+ grouping of oil exporting countries to watch out for market turbulence at their forthcoming meeting to discuss production plan, saying high prices due to the uncertainties will lead to a drop in demand. “It is their legitimate right… whatever they want to produce, not […]

BEIJING: Brent crude futures edged down on Friday, extending losses from the previous session, as traders speculated on whether OPEC+ would come to an agreement on further production cuts. Brent crude futures inched down by 6 cents, or 0.07%, to USD 81.36 at 0400 GMT, after settling down 0.7% in the previous session. US West […]