Category: Oil & Gas

Petrol and diesel prices on Friday touched record high levels across the country after rates were increased for the fourth time this week. Petrol price was hiked by 29 paise per litre and diesel by 34 paise a litre, according to a price notification by state-owned fuel retailers.

Petrol and diesel prices on Wednesday were hiked by 25 paise per litre each, the third increase this week, propelling petrol price to cross Rs 100 per litre mark in more cities including Bhopal and Indore. Petrol and diesel prices are now at a record high across the country, price notification of state-owned fuel retailers […]

UK’s Cairn Energy Plc on Tuesday said it is taking all necessary actions to access the $1.7 billion it was awarded by an international arbitration tribunal after overturning a retroactive tax demand slapped by the Indian government. The firm invested in the oil and gas sector in India in 1994 and a decade later it […]

In one of the steepest increase since daily price revision was started, petrol price on Thursday was hiked by 25 paise per litre and diesel by 30 paise as oil companies raised rates for the third straight day to pass on to consumers the increase in international oil prices. Petrol price in Delhi was increased […]

Petrol price on Tuesday was increased by 15 paise per litre and diesel by 18 paise as state-owned fuel retailers started passing on the increase in international oil prices to consumers after an 18-day hiatus. Petrol now costs Rs 90.55 per litre in Delhi, up from Rs 90.40, according to a price notification of state-owned […]

Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported consolidated net profit of Rs 13,227 crore for the quarter ended March 31, 2021 (Q4FY21), up 108% from Rs 6,348 crore logged in the corresponding quarter last year (Q4FY20). The company’s revenue from operations rose 11% to Rs 1.54 lakh crore as compared to Rs 1.39 […]

Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported consolidated net profit of Rs 13,227 crore for the quarter ended March 31, 2021 (Q4FY21), up 108% from Rs 6,348 crore logged in the corresponding quarter last year (Q4FY20). The company’s revenue from operations rose 11% to Rs 1.54 lakh crore as compared to Rs 1.39 […]

The petroleum ministry has told India’s largest oil and gas producer ONGC to sell stake in producing oil fields such as to Ratna R-Series to private firms, get foreign partners in KG basin gas fields, monetise existing infrastructure, and hive off drilling and other services into a separate firm to raise production. Amar Nath, additional […]

Saudi Aramco’s Chief Executive expects rising oil demand in 2021, he said on Sunday, citing Chinese demand approaching pre-pandemic levels while vaccines help other economies to open up. “We are pleased that there are signs of a recovery,” Amin Nasser told said at an earnings briefing from the Saudi oil giant. “We expect this to […]

Amid record-high fuel prices, Finance Minister Nirmala Sitharaman on Monday said there is no proposal as of now to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the GST. When the GST was introduced on July 1, 2017, amalgamating over a dozen central and state levies, five commodities — crude oil, […]

Courts in five countries, including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc – a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn […]

The Lok Sabha and Rajya Sabha saw repeated disruptions by the Opposition over rising fuel prices on Monday. Also read: Tax collection on fuel up 459% While mentioning that he had received notices for adjournment to discuss the issue, Lok Sabha Speaker Om Birla said the matter was important but it could be raised during […]