Category: Oil & Gas

Larsen & Toubro’s hydrocarbon arm has signed a memorandum of understanding with US-based engineering company KBR for construction of modular process plants for refinery and petrochemicals projects. KBR and L&T Hydrocarbon Engineering (LTHE) will collaborate to develop business opportunities for refineries and petrochemical units, the Indian engineering major said Monday. “Through this MoU with KBR, […]

Diesel price on Saturday hit a record high after rates were hiked by 61 paise per litre while petrol price was up 51 paise, taking the cumulative increase in rates in two weeks to Rs 8.28 and Rs 7.62 respectively. Petrol price in Delhi was hiked to Rs 78.88 per litre from Rs 78.37, while […]

Diesel prices soared to a record on Friday while petrol prices rose to their highest in 19 months after state oil companies increased rates for the thirteenth time in as many days. Diesel has climbed to Rs 77.06 a litre in Delhi and Rs 75.53 in Mumbai. Petrol prices have risen to Rs 78.37 a […]

UK energy major BP plans to hire 2,000 staff for a global business services centre it plans to set up in Pune. The centre, slated to begin operations by January 2021, will provide business processing and advanced analytics capabilities in support of BP’s businesses worldwide, according to a company statement. The new centre will begin […]

After announcing asset sale worth $14 billion and completing a $7 billion rights issue in the past two months, Reliance Industries Ltd’s next leg of debt reduction will be driven by its energy business as cash flows is likely to exceed expectations, a report said on Tuesday. “Deleveraging has played out faster than expected, fuelling […]

Fuel demand has sharply improved in the first fortnight of June as factories, offices and shops reopened across the country and more vehicles came on the road with the easing of the lockdown. However, sales are yet to recover to normal levels but are far better than the lockdown months of April and May. The […]

The Petroleum Ministry has constituted a three-member high-level committee to inquire into the blowout at an Oil India Ltd well in Assam and the subsequent fire that killed two firefighters and injured at least one. The panel will be headed by SCL Das, Director General of Directorate General of Hydrocarbons (DGH), a ministry order said. […]

Petrol and diesel prices on Thursday were hiked by 60 paise per litre each – the fifth straight daily increase in rates since oil PSUs ended an 82-day hiatus in rate revision. Petrol price in Delhi was hiked to Rs 74 per litre from Rs 73.40 while diesel rates were increased to Rs 72.22 a […]

Billionaire Mukesh Ambani got 552,000 shares of his flagship firm Reliance Industries (RIL) in the just-concluded Rs 53,124 crore rights issue, according to the company’s regulatory filing on Thursday. Ambani now holds 80.52 lakh shares or 0.12 per cent of RIL, up from 75 lakh shares held before the rights issue. His wife Nita and […]

MUMBAI : The covid-19 crisis and an exceptionally mild winter in the northern hemisphere have put global natural gas demand on course for the largest annual fall in history, the International Energy Agency said in its annual outlook on Wednesday. Global gas demand is expected to fall by 4%, or 150 billion cubic metres (bcm), […]

Indian Oil Corp , the country’s top refiner, is seeking up to 24 million barrels of US crude for delivery over the fourth quarter this year and the first quarter of 2021, two tender documents seen by Reuters showed on Monday. IOC is seeking 2 million barrels of US crude per month with an optional […]

The government on Monday extended the last date of bidding for the 11 oil and gas blocks on offer in the fifth exploration bid round to June 30 in view of the COVID-19 lockdown in the country. The fifth bid round under Open Acreage Licensing Policy (OALP) opened in January and was to initially close […]