Category: Oil & Gas

The Delhi High Court today asked the Centre to treat as a representation a plea which claims petrol and diesel are essential commodities and seeks directions to the government to fix a “fair price” for their sale. A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar said the petitioner had not […]

Even as the US-imposed sanctions on Iran has put India’s energy security in jeopardy, UAE Ambassador to India Ahmed Albanna has allayed fears of an oil shortage, saying his country as well as Saudi Arabia can fill in if supply from Iran is disrupted. “In the international market, the law of demand and supply controls […]

India’s renegotiated gas import deal with Russia’s Gazprom will save between Rs 85 billion and Rs 95 billion over the contract period ending 2040, Oil Minister Dharmendra Pradhan said on Wednesday. State-owned gas utility GAIL India Ltd had in January taken advantage of the Russian company’s inability to deliver liquefied natural gas (LNG) from the […]

L&T Hydrocarbon Engineering has bagged an onshore EPC contract from HPCL-Mittal Energy for setting up cracker furnaces at their Bathinda Refinery in Punjab. “L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won a significant onshore EPC contract from HPCL-Mittal Energy for setting up 07 cracker furnaces of 1200 KTPA dual […]

Oil prices stabilised on Tuesday as worries over supply disruptions balanced signs of increasing production and potential damage to global growth from the U.S.-China trade dispute. Benchmark Brent crude oil was up 15 cents at $71.99 a barrel by 0920 GMT after earlier falling to $71.35, its lowest since April 17. The contract fell 4.6 […]

Oil prices fell on Friday as markets digested big swings earlier in the week that have left both major benchmarks facing a second weekly loss and largely shrugged off a warning about tightness in spare capacity. Brent crude dropped 35 cents, or 0.5 percent, to $74.10 a barrel by 0657 GMT. On Thursday it gained […]

India is proposing to bring jet fuel and natural gas under the national goods and services tax as early as next week and replace a slew of existing duties and provincial levies, people familiar with the matter said. An Indian tax panel will decide July 21 whether to approve the proposal to levy a 28 […]

Oil prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. The rally received an extra boost from the International Energy Agency (IEA), which said the world’s oil supply cushion “might be stretched to the limit” due to production losses. Benchmark Brent crude oil […]

India’s oil imports from Iran declined by 15.9 per cent in June, the first month after the United States said it would reimpose sanctions on the country, according to data from shipping and industry sources. In June, India imported 592,800 barrels per day (bpd) of oil from Iran compared to 705,200 bpd in May, the […]

Oil prices fell on Wednesday, with Brent dropping by more than $1 at one point, after U.S. President Donald Trump threatened to levy new trade tariffs on China. The spectre of tariffs on a further $200 billion worth of Chinese goods sent commodities lower along with stock markets, as trade tensions between the world’s two […]

Oil major Indian Oil Corporation Limited (IOCL) will invest Rs 36.63 billion for laying two pipelines originating from Odisha under the aegis of South Eastern Region Pipelines (SERPL). The oil PSU will lay the Paradip – Hyderabad pipeline line (PHPL) to evacuate products like motor spirits, high-speed diesel, kerosene and aviation turbine fuel (ATF) from […]

The Reliance-BP joint venture today bid for licence to retail gas in 15 cities while Indraprastha Gas Ltd put in bids for 13 cities. Bidding for the biggest city gas distribution licensing round, offering 86 permits for selling CNG and piped cooking gas in 174 districts in 22 states and union territories, closes this evening. […]