Jet fuel price cut by 3% amid softer global crude rates
In the first reduction in rate in two months, jet fuel or ATF price was cut by 3% in line with softening international crude oil prices.
OIL
The latest OIL news, analysis and data from India and across Asia, reported by Energy Asia.
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“She’s free”: Traffic in Suez Canal resumes
Shipping traffic through Egypt's Suez Canal resumed on Monday after a giant container ship which had been blocking the busy waterway for almost a week was…
Oil jumps 4% on fears Suez Canal blockage may last weeks
Oil prices rose more than 4% on Friday on worries global supplies of crude and refined products could be disrupted for weeks as workers try to…
Reliance-Aramco deal if crude oil averages USD 65/barrel
A fall in crude oil price and Aramco's USD 75 billion annual dividend commitment may have delayed Saudi company picking a stake in Reliance Industries Ltd's…
Centre can ask 10% more share in profits from Barmer block
The Delhi High Court said the Centre can demand 10% higher share in the profit derived from oil produced by Vedanta from the Barmer oil field…
OIL’s Mozambique project fulfils USD14.9 bn debt drawdown
ONGC Videsh Ltd and Oil India Ltd, together with their foreign partners, have met conditions precedent for the first debt drawdown from the USD 14.9 billion
Oil PSUs to set up InvIT for asset monetisation
Oil sector PSUs would now float an Infrastructure Investment Trust (InvIT) as part of the asset monetisation exercise announced by the government and mobilise resources for…
Oil & gas sector are catalysing socio-economic change
Union Minister of Petroleum and Natural Gas Dharmendra Pradhan said that Energy is the catalyst of socio-economic change.
ONGC’s oil & gas production share jumps to 70%
ONGC which is often perceived as a drag on the crude oil and natural gas produced in the country, has actually seen its contribution to the…
Indian Oil to monetise Hydrogen units to raise Rs 10,000 cr
Indian Oil Corporation (IOC) plans to hive off hydrogen producing units and sulphur recovery facilities at its refineries to a separate entity and then sell stakes…
Priyanka Gandhi slams centre on fuel prices
Congress General Secretary Priyanka Gandhi Vadra on Thursday slammed the Prime Minister Narendra Modi-led government over the hike in prices of fuel and gas.
Oil prices hit 13-month highs on tighter supplies
Oil prices rose for a fourth straight session to the highest levels in more than 13 months, underpinned by monetary easing policies and lower crude production…
Petronas finds gas in Dokong-1 wildcat exploration well
Malaysia's state energy firm Petroliam Nasional Bhd, or Petronas, said on Wednesday that it had discovered gas in the Dokong-1 wildcat exploration well in the Block…
Fuel prices rise again after two-day break
The petrol and diesel prices across the country continued their northward march after two days break taking its retail rates to unprecedented levels while burning bigger…
Modi blames previous govt for not cutting import dependence
On a day when petrol crossed the Rs 100 mark, Prime Minister Narendra Modi said the middle-class would not have been burdened if the previous governments…
Meghalaya government reduces petrol, diesel prices by Rs 7
Meghalaya Chief Minister Conrad Sangma has informed that the prices of petrol and diesel will be reduced by Rs 7 approximately in the state.
India is creating a global model of energy justice
MoPNG Dharmendra Pradhan said that by balancing accessibility and affordability, India is creating a global model of energy justice and India will chart its own strategy…
India’s gas production has risen above pre-COVID level
India's natural gas production has risen above the pre-COVID level following the start of output from a KG-D6 field operated by Reliance Industries Ltd and its…
Pradhan rules out any plans to cut taxes on petrol, diesel
Petroleum Minister Dharmendra Pradhan ruled out any cut in excise duty, for now, to give relief to consumers from the spiralling retail prices of petrol and…
Congress calls for Odisha bandh over rising fuel prices
The Congress gave a call for a seven-hour Odisha shutdown on February 15 to protest against the rising prices of petrol and diesel.
January fuel demand falls as global oil prices rise
India's fuel consumption in January registered its first month-on-month decline in five months, as an uptick in global oil prices posed a roadblock to a gradual…
Meghalaya government to reduce tax on petrol & diesel
The Meghalaya government has decided to reduce the tax on petrol and diesel in the state by Rs 2 per litre from Monday midnight, Chief Minister…
Oil India starts seismic survey in Tripura
Oil India Limited has started its first-ever seismic survey in Tripura, kicking off exploration and production operation in the north-eastern state.
Government notifies modified scheme on ethanol production
The government notified a modified scheme to provide financial assistance to distilleries producing first-generation ethanol from feedstocks, including cereals.
Patnaik & Pradhan launch bindu sagar lake cleaning project
Naveen Patnaik, Chief Minister of Odisha and Dharmendra Pradhan, Minister for Petroleum & Natural Gas jointly launched the Bindu Sagar Lake Cleaning Project at Ekamra Khetra,…