Category: Oil & Gas

Chandigarh: The MC has signed an MoU with Indian Oil Corporation (IOC) as the dealer for opening a retail outlet on Vikas Marg in Sector 51-A here. The letter of intent was exchanged between the civic body and the IOC through Kamal Kunj, Deputy General Manager, IOC, and Champa Bhatt, Estate Branch, MC, in the […]

Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters. Shell’s new cost-cutting review, known internally as Project Reshape and expected to […]

Former Indian Oil Corporation (IOC) chairman Sanjiv Singh has joined Reliance Industries as group president for firm’s oil-to-chemicals business. A communication by RIL Executive Director Hital R Meswani to the company employees said Singh will be a member of the oil-to-chemicals (O2C) business leadership team.

Petrol prices have been on the rise for the sixth consecutive day on Tuesday, while diesel held on to its price line that it has maintained since July 30. In the international market, the crude price has also remained firm hovering over $ 45 a barrel.

MV Ravi Someswarudu has taken over as chief executive officer (CEO) of GAIL Gas Limited, a wholly-owned subsidiary of GAIL (India) Limited, engaged in the city gas distribution business. Prior to this assignment, he was serving as executive director & officer-in-charge of the Petrochemical Project at GAIL, Pata. He has taken over the charge from […]

Oil marketing companies on Monday imposed a restriction on booking of refilling LPG cylinders for 15 days from the last supply so that each and every customer can get their cylinders refilled. The supply is adequate and there is no need for panic, reads a letter of oil marketing companies such as India Oil, BPCL […]

Natural gas prices on Tuesday were cut by a steep 26% to its lowest rate since the pricing was made formula-driven in 2014, a move that is likely to translate into lower CNG and piped cooking gas prices but also make a huge dent in revenues of producers such as ONGC. Oil Ministry’s Petroleum Planning […]

Indian Oil Corporation Limited (IOCL) pressed into service its fuel home delivery facility amid the lockdown. Anyone, particularly farmers, industrialists and hospital authorities, who cannot go to pumps for diesel, can avail it by using the mobile app “fuel humsafar”. Earlier, there was a restriction of minimum order of 100 litres of diesel, but now […]

Amid the statewide curfew, the district administration has supplied 19,000 cylinders on the doorstep of the district residents in the past two days. While 9,000 cylinders were supplied on Thursday, 10,000 cylinders were delivered on Friday. From Saturday, the administration would supply 10,000 LPG cylinders on a daily basis, officials of the administration said. The […]

Russia’s largest oil producer Rosneft is keen to bid for acquisition of BPCL, sources said after the Russian firm’s CEO Igor Sechin met Oil Minister Dharmendra Pradhan today. Rosneft, which is the majority owner of India’s second-biggest private oil refinery, is keen to expand in the world’s third-largest and the fastest-growing energy market. Sechin first […]

The massive fire that broke out on Burhi Dihing river—a tributary of Brahmaputra—following oil leakage from pipelines in Assam’s Dibrugarh district, raising concerns about environmental damage including endangering of aquatic life, finally got doused on Monday, officials said. There was no casualty or injury, police said. Oil India Limited said there was a leakage in […]

Indian Oil Corporation’s decision to cancel and withdraw LPG distributorship at Jalandhar on the ground that land offered did not fall in the advertised location has come under judicial scanner with the allottee challenging the action. Among other things, the petitioner has alleged the violation of principles of natural justice. Taking up the petition filed […]