oil

Cabinet nod to Rs 3,874 cr spending on stocking oil

Cabinet nod to Rs 3,874 cr spending on stocking oil

The Cabinet Committee on Economic Affairs (CCEA) also allowed Abu Dhabi National Oil Co, which has hired a part of the strategic storage,...Read More

Shares, oil prices sink after Trump tests positive for COVID-19

Shares, oil prices sink after Trump tests positive for COVID-19

US stock futures and Asian shares fell Friday after President Donald Trump said he and first lady Melania Trump had tested positive for t...Read More

OIL's 2019-20 profit 2,584 cr, revenue Rs 13,649 crore

OIL's 2019-20 profit 2,584 cr, revenue Rs 13,649 crore

State-owned Oil India Ltd (OIL) has posted a profit after tax of Rs 2,584 crore with revenue of Rs 13,649 crore in fiscal 2019-20, its Ch...Read More

If data is the new oil, why we as data producers are not rich...

If data is the new oil, why we as data producers are not rich...

Tech-n-BizA fortnightly section on technology and business

Despite fuel price cuts, OMCs improve marketing margins

Despite fuel price cuts, OMCs improve marketing margins

COVID-19 pushed demand squeeze and fall in product prices, including that of fuel is unlikely to impact the profitability of oil marketin...Read More

OPEC cuts oil demand forecasts, BP sees 'peak oil' in 2020s

OPEC cuts oil demand forecasts, BP sees 'peak oil' in 2020s

Developing countries' difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly ...Read More

India's oil import bill declines by two-third on fall in international prices: Dharmendra Pradhan

India's oil import bill declines by two-third on fall in international prices: Dharmendra Pradhan

India's crude oil import bill fell to a third in the first four months of the current fiscal after international oil rates nosedived on d...Read More

COVID-19 affect: Demand squeeze in India reduces OPEC share in oil imports

COVID-19 affect: Demand squeeze in India reduces OPEC share in oil imports

The Covid-19 disruptions have changed the structure of the country's oil and gas sector with the share of OPEC crude in Indian oil import...Read More

Weak oil refining margins to put pressure on fuel retailers: Report

Weak oil refining margins to put pressure on fuel retailers: Report

Fitch Ratings on Monday said state-owned oil refiners IOC, BPCL and HPCL may see longer than previously expected time to recover refining...Read More

COVID-19 sparks oil industry's shift towards lower growth, consolidation: Moody's

COVID-19 sparks oil industry's shift towards lower growth, consolidation: Moody's

The large-scale market disruption from the coronavirus pandemic will unsettle long-term energy consumption patterns in the developed mark...Read More

Oil prices rise as Iraq pledges to cut output amid COVID-19

Oil prices rise as Iraq pledges to cut output amid COVID-19

Crude oil prices rose on Monday on supply concerns after Iraq said that it will further cut production.Last week, Iraq said it would cut ...Read More

IOC trips as oil sinks

IOC trips as oil sinks

In a regulatory filing, IOC said that its revenue and other consequential expenses during the period decreased due to nationwide lockdown...Read More

BP to sell its petrochemicals biz to INEOS for USD 5 billion

BP to sell its petrochemicals biz to INEOS for USD 5 billion

London-headquartered BP has agreed to sell its global petrochemicals business to INEOS for USD 5 billion (Rs 37,754 crore), subject to cu...Read More

Assam Gas Leak: Oil India’s operations in Baghjan hit due to heavy rainfall

Assam Gas Leak: Oil India’s operations in Baghjan hit due to heavy rainfall

For the last few days, there has been heavy rainfall in Baghjan, Assam, where the Oil India Limited (OIL) well blowout incident took plac...Read More

Assam gas leak: OIL loses 638 MT crude oil due to blockades at Assam fire site

Assam gas leak: OIL loses 638 MT crude oil due to blockades at Assam fire site

The state-owned Oil India Ltd (OIL) lost 638 MT of crude oil production from 66 producing wells and 0.46 MMSCMD of natural gas from three...Read More

Petrol hiked by 57 paise per litre, diesel by 59 paise in sixth increase in a row

Petrol hiked by 57 paise per litre, diesel by 59 paise in sixth increase in a row

Petrol price on Friday was hiked by 57 paise per litre and diesel by 59 paise a litre as oil companies adjusted retail rates - the sixth ...Read More

Assam gas leak: Two missing bodies found and four sustained minor injury

Assam gas leak: Two missing bodies found and four sustained minor injury

The gas well operated by state-run Oil India Limited (OIL) at Baghjan, Tinsukia District, Assam, caught fire on June 9. In this incident,...Read More

Modi govt denying people benefit of low oil prices; no other nation doing so: Moily

Modi govt denying people benefit of low oil prices; no other nation doing so: Moily

In a press statement, Moily said petrol was priced at Rs 71.41 per litre and diesel at Rs 55.49 a litre when during the UPA-2 regime inte...Read More

Saudi Aramco Q1 reports decline in profit amid Coronavirus outbreak

Saudi Aramco Q1 reports decline in profit amid Coronavirus outbreak

Saudi Aramco, the kingdom's energy producer, announced on Tuesday a net income of USD 16.7 billion for the first three months of the year...Read More

Oil prices rise as OPEC+ output cut comes into effect

Oil prices rise as OPEC+ output cut comes into effect

The benchmark Brent crude oil is at around $27 per barrel. The June contract on the Intercontinental Exchange (ICE) is trading at $26.89 ...Read More

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