Category: Oil & Gas

The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country’s image as an investment destination.

The Russian invasion of Ukraine led to a massacre on the bourses with the BSE Sensex falling over 2,700 points to end at 54,529.91. However, gold and silver prices rose by nearly three per cent.

Around 60 petrol pumps located near the border with Himachal Pradesh are on the verge of closure following a sharp dip in sales triggered by a big price difference in the neighbouring state.

International oil prices surged close to USD 100 a barrel on Tuesday after Russian President Vladimir Putin sent troops into Ukraine, but petrol and diesel prices in India continue to be on freeze and are expected to rise once assembly elections in states like Uttar Pradesh end. Amid fears of supplies being disrupted because of […]

Germany has taken steps to halt the process of certifying the Nord Stream 2 gas pipeline from Russia, Chancellor Olaf Scholz said Tuesday, as the West started taking punitive measures against Moscow over the Ukraine crisis. Scholz said his government made the decision in response to Russian President Vladimir Putin’s recognition of the independence of […]

As many as four companies, including three state-owned, put in 10 bids for the eight oil and gas blocks on offer in India’s latest round of bidding for exploration acreage, according to the Directorate General of Hydrocarbons (DGH). Total six out of the eight blocks on offer got single bids while there were two bidders […]

Jet fuel prices on Wednesday soared to record high after rates were increased by 5.2% in line with a rise in international oil prices. This is the fourth hike in jet fuel or aviation turbine fuel (ATF) prices in less than two months following a spike in global oil prices but petrol and diesel prices […]

Ten members of a family suffered burn injuries in an LPG cylinder explosion in the Ramnagar area of Mandi town today. They were having breakfast in the kitchen when the incident happened. The families of two brothers Yogesh Kumar and Rakesh Kumar from Uttar Pradesh live in the rented house having two rooms. Four adults […]

The annual rate of inflation is 12.96 per cent (provisional) for the month of January, a decline from the 13.56 per cent recorded in the previous month. “The high rate of inflation in January is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, basic metals, chemicals, and chemical products, […]

Saudi Arabia said Sunday it will transfer 4% of the stock in the state-run oil giant Aramco to a sovereign wealth fund, an infusion valued at nearly $80 billion as the kingdom tries to overhaul its energy-dependent economy. The announcement on the state-run Saudi Press Agency comes as the oil firm is valued at just […]

The Centre will move the issue of bringing aviation turbine fuel (ATF) under the GST net for discussion in the next meeting of the GST Council, Finance Minister Nirmala Sitharaman said on Sunday, while noting that rising global fuel prices are a “concern”. When the GST was introduced on July 1, 2017, amalgamating over a […]

Sri Lanka on Wednesday signed an agreement with India for a $500 million credit line to help finance its fuel purchases. The first tranche will be used to buy 80,000 tonnes of petrol and diesel from Indian Oil Corporation (IOC). India’s help has come just when Sri Lanka was faced with the spectre of dry […]