Category: Oil & Gas

Petrol and diesel rates rose sharply on Friday as global oil prices remained firm reaching its highest levels this fiscal. Petrol price increased by 19 paise per litre to Rs 81.89 per litre on Friday from Rs 81.70 per litre on the previous day. Diesel price, on the other hand, increased by a higher margin […]

Oil regulator PNGRB has simplified the country’s gas pipeline tariff structure to make the fuel more affordable for distant users and to attract investment for building gas infrastructure. The Petroleum and Natural Gas Regulatory Board (PNGRB) has notified regulations for a ‘unified’ tariff structure for over a dozen pipelines that form the National Gas Grid […]

Shares of oil exploration & production companies were in focus on Wednesday in an otherwise volatile market as oil prices hit their highest level since March amid news flow related to smooth US presidency transition and encouraging developments on the Covid-19 vaccine front. The stock of Oil and Natural Gas Corporation (ONGC) gained 6 per […]

Iraq’s Oil Marketing Company (SOMO) has revised the price mechanism used to compensate buyers for fluctuations in the density of its crude exports, starting with shipments in 2021, according to a Nov 23 notice to clients reviewed by Reuters. The announcement follows SOMO’s plan to launch a third crude oil export grade called Basra Medium […]

Petrol price on Monday was hiked by 7 paise per litre and diesel by 18 paise for the fourth straight day as the international oil rates broke a nearly two-month-long hiatus in price revision. Petrol price in Delhi on Monday was hiked to Rs 81.53 a litre from Rs 81.46 per litre, according to a […]

An estimated 22 billion barrels of non-conventional and recoverable crude oil was recently discovered in Abu Dhabi, the capital of the United Arab Emirates (UAE), it was announced. In the announcement on Sunday, Abu Dhabi’s Supreme Petroleum Council (SPC) said that the latest major onshore discovery could increase the country’s conventional oil reserves by 2 […]

Petrol price on Saturday was hiked by 15 paise per litre and diesel by 20 paise, the second straight day of increase in rates after firming international oil rates broke nearly a two-month-long hiatus in price revision. The price of petrol in Delhi was hiked to Rs 81.38 per litre from Rs 81.23, according to […]

Prime Minister Narendra Modi on Saturday said that India has set a target of reducing the carbon footprint by 30 to 35 per cent. He made the statement while addressing the convocation ceremony of Pandit Deendayal Petroleum University (PDPU) here through video conference. “Today, our country is moving ahead with the target of reducing the […]

Oil marketing companies (OMCs) on Friday raised the retail price of petrol and diesel after a break of almost two months when auto fuel prices remained static on Covid affected global oil market. The price of petrol has increased by 17 paisa per litre in the national Capital to Rs 81.23 from Rs 81.06 a […]

Union Petroleum Minister Dharmenda Pradhan Thursday said he will soon visit Ashoknagar in West Bengal, the site of oil and gas discovery and review the project. Oil and gas was discovered at Ashoknagar in North 24 Parganas district two years ago. Pradhan said he was briefed by ONGC that the site holds potential for commerical […]

One of the world’s leading investor groups pushing for more corporate action on climate change said it has added Saudi Aramco, the world’s largest oil producer, to its list of target companies. Climate Action 100+, the 450 members of which manage more than $47 trillion in assets, seeks to engage with the companies responsible for […]

Vedanta Group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying government’s stake in Bharat Petroleum Corp Ltd (BPCL). Vedanta’s interest in India’s second largest fuel retailer is because of synergies with its existing oil and gas business. The government is selling its entire 52.98 per cent stake in BPCL and […]