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Latest Articles in Oil and Gas

Major Relief for GUVNL in PPA termination case from Supreme Court

Adani Power had terminated the 1,000 - Mw power purchase agreement with GUVNL from its plant in Mundra on account of non-coal supply by Gujarat Mineral Development Corporation. Adani Power asserted that the power supply was conditional to coal supply.

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Diesel sales remain below pre-COVID levels in September

Diesel sales by the country's state fuel retailers came in at 2.1 million tonnes during Sept. 1-15, a decline of about 1.5% from last year and down 6.8% from the same period in 2019, the data showed.

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OPEC Trims Oil Demand Forecast Due To Delta Variant

"The increased risk of COVID-19 cases primarily fueled by the Delta variant is clouding oil demand prospects going into the final quarter of the year," OPEC said in a report.

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Crude Oil Futures Dip On Weak Spot Demand

Crude oil for the September delivery dropped by Rs 4, or 0.08 per cent, to Rs 5,091 per barrel with a business volume of 5,142 lots.

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Rising Demand Lifts Refined Soya Oil Futures

Refined soya oil for September delivery moved up by Rs 2.5, or 0.18 per cent, to Rs 1,378 per 10 kg in 21,685 lots.

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Crude Oil Futures Rise On Spot Demand

Crude oil for the September delivery traded higher by Rs 40, or 0.8 per cent, at Rs 5,053 per barrel in 4,786 lots.

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Gasoline Demand Seen Hitting Record As COVID Curbs Ease

The stronger-than-expected gasoline consumption growth could prompt Indian refiners to import the fuel or boost gasoil exports in coming months. Indian refineries are traditionally configured to maximise production of diesel, where demand is still below pre-COVID levels, hurt by an uneven economic recovery.

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ONGC Pumps First Gas From U1B Deep-Water Well In KG Basin

ONGC''s KG-DWN-98/2 or KG-D5 block, which sits next to Reliance Industries'' KG-D6 block in the KG basin, has a number of discoveries that have been clubbed into clusters.

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Petrol Demand Continues To Rise In Aug, Diesel Lags

Fuel demand had recovered to near-normal levels in March before the onset of the second wave of COVID-19 infections led to the reimposition of lockdown in different states, stalling mobility and muting economic activity.

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LPG Price Rise In Third Consecutive Month, Rs 25 By This Time

Meanwhile, the government in the month of July this year increased the LPG price by Rs 25.50. The price was also increased by Rs 25 per cylinder on August 18, 2021.

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IOC To Invest Rs 1 Lakh Cr To Expand Refining Capacity: Chairman

IOC operates 11 refineries that convert crude oil into valued fuels such as petrol and diesel. These have a combined capacity of 81.2 million tonne.

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Global Oil Majors May Be Joining Race For BPCL

The bidding process allows for other interested parties to join and form a consortium with any one of the bidders which had submitted an expression of interest (EoI).

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PM’s Hydrogen Mission Needs Investment In Research And Development

Mass manufacturing and deployment of hydrogen technologies key to displace fossil fuel use

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Coal India Sets Rs 17,000 Cr Capex Target For FY22

The miner is expecting an improvement in cash flow with rising demand for coal and higher realisation from e-auction sales

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BPCL Q1 Profit Down 27% To Rs 1,502 Cr

The nation''s second largest oil refiner and fuel marketing company had a net profit of Rs 2,076.17 crore in April-June 2020-21, the company said in a regulatory filing.

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