LONDON: Oil explorer Cairn Energy reported a decline in yearly losses after tax to $381 million and announced it plans to drill at least three more wells this year in Senegal where it made some promising discoveries in 2014. Cairn, which currently has no revenue as it purely focuses on exploration work, said its net […]
Category: Oil & Gas
Oil & Gas
Trans-Afghan gas pipeline may become a reality: Pradhan
NEW DELHI: Trans-Afghanistan gas pipeline connecting Turkmenistan, Afghanistan, Pakistan and India may become a reality soon as negotiation for the ambitious project is at the final stage, Oil Minister Dharmendra Pradhan said in Lok Sabha today. Pradhan said discussions over installing a pipeline to bring gas from Turkmenistan to India through Afghanistan and Pakistan were […]
IOC ties up with Sahaj e-Village to sell 5-kg LPG cylinder
KOLKATA: Sahaj e-Village Limited has entered into an agreement with Indian Oil for selling 5-kg FTL (Free Trade LPG) Indane cylinders through its Common Service Centres (CSCs). In a statement, Sahaj said this is for the first time that Indian Oil is venturing into a pan India tie-up with a private company for selling 5-kg […]
Indian Oil seeks rare jet fuel cargo; first time in more than 3 years
Singapore: Indian Oil Corp is seeking a rare aviation turbine fuel or jet fuel cargo, its first such requirement in more than three years, industry sources said on Monday. IOC’s rare spot requirement is due to a planned maintenance at its Koyali refinery in Gujarat, the sources added. The company is seeking about 5,000 tonne […]
CCI rejects anti-competitive case against Indian Oil Corporation, Mahanagar Gas
NEW DELHI: The Competition Commission has rejected charges against Indian Oil Corporation and Mahanagar Gas that they indulged in unfair business practices with respect to distribution of CNG. In a complaint, Bharat Garage, a partnership firm engaged in distribution of Compressed Natural Gas (CNG), had alleged that an agreement executed between IOC and Mahanagar Gas […]
Pipeline fire: Relaince India Limited restores gas supply, assessing loss
HYDERABAD: Reliance Industries is in the process of assessing the gas loss due to damage of a trunk pipeline and subsequent fire at Sadasivapet in Telangana as the supply of gas has been restored. Fire had broken out in the wee hours of Sunday in the 1,375 km-long RGTIL-operated natural gas pipeline at Sadasivapet in […]
China to raise retail price of gasoline and diesel
BEIJING: China will raise retail prices for gasoline by 390 yuan ($62) per tonne and for diesel by 375 yuan ($60) per tonne from Saturday as oil prices moved off lows plumbed last month, the country’s powerful economic planning agency said on Friday. The hike is the second consecutive price increase by the National Development […]