Category: Oil & Gas

Oil producers cartel OPEC’s share in India’s oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed. Organisation of the Petroleum Exporting Countries (OPEC) nations, mainly in the Middle East and Africa, had a 72 per cent share of all crude oil […]

The government has cut the windfall tax on petroleum crude to Rs 4,100 per tonne from Rs 6,400 per tonne, effective from Tuesday, according to a government notification. The government left the windfall tax on petrol, diesel and aviation turbine fuel at zero. On April 4, the government cut the windfall tax on petroleum crude […]

Four people sustained injuries in a cylinder explosion in Jammu and Kashmir’s Poonch, an official said on Monday. The official said that the injured were rushed to the hospital following which they were given first aid. Zulafkar Ahmed, Medical Superintendent, District Hospital, informed that out of the four injured persons, three had sustained minor burns. […]

Commercial LPG prices on Monday were cut by Rs 171.50 in line with softening international trend. A 19-kg commercial LPG cylinder now costs Rs 1,856.50 in Delhi, according to state-owned oil companies. This is the second straight reduction in rates. Prices were cut by Rs 91.50 per 19-kg cylinder on April 1.

The output of eight infrastructure sectors registered a growth of 3.6% in March 2023, the slowest in five months, showed government data released on Friday. The output of core sectors had increased by 7.2% in February 2023 and 4.8% in the year-ago month. The output of crude oil declined by 2.8%, power by 1.8% and […]

Iran seized a Marshall Islands-flagged oil tanker in the Gulf of Oman on Thursday amid wider tensions over Tehran’s nuclear program, the latest-such capture in a waterway crucial for global energy supplies. US navy’s Mideast-based 5th Fleet identified the vessel as the Advantage Sweet. Satellite tracking data for the vessel from MarineTraffic.com showed it in […]

Four persons, including three women, suffered serious burn injuries in a flash fire caused due to leakage of a LPG gas cylinder in a house at Lohara here on Wednesday. The injured were taken to a hospital where their condition was stated to be normal. House owner Shiv Gobind said he had lent a portion […]

Vedanta Resources Limited (Vedanta), the parent company of Mumbai-listed mining giant Vedanta Ltd, on Monday said it had paid all its maturing loans and bonds due in this month to reduce its gross debt by a further USD 1 billion. Vedanta has now reduced debt by a total of USD 3 billion.

Reliance Industries Ltd on Friday reported its highest-ever quarterly net profit of Rs 19,299 crore in January-March on the back of stronger earnings from the oil and petrochemicals business and steady growth in retail and telecom operations. The oil-to-retail-to-telecom conglomerate’s consolidated net profit of Rs 19,299 crore, or Rs 28.52 per share, in January-March compared […]

Cash-strapped Pakistan has placed its first order for discounted Russian crude oil, which is expected to arrive in Karachi next month, an official said on Thursday, a decision that may provide some relief to the people already hit by skyrocketing inflation. Pakistan, which is currently grappling with high external debt and a weak local currency, […]

A record 17 crore new LPG connections helped double the cooking gas consumer base to 31.26 crore in the last nine years, ushering in clean fuel in millions of households across the country, official data showed on Thursday The active domestic LPG consumers have increased from 14.52 crore in April 2014 to 31.36 crore as […]

A record 17 crore new LPG connections helped double the cooking gas consumer base to 31.26 crore in the last 9 years, ushering in clean fuel in millions of households across the country, official data showed on Thursday. The active domestic LPG consumers have increased from 14.52 crore in April 2014 to 31.36 crore as […]