Oil & gas
India’s core sector output expands by 6.7% in February
01 Apr 2024
Core sector industrial production in India expanded by 6.7 per cent in February 2024, on the back of increased production of coal, natural gas, cement, steel, crude oil, electricity and petroleum refinery products, provisional figures released on Thursday showed.
China's CNOOC finds 100 million tonne oil reserves in South China Sea oilfield
09 Mar 2024
China National Offshore Oil Company (CNOOC), the state-owned Chinese oil giant, on Friday reported a major oil field discovery in Kaiping South in the deep-water of the South China Sea.
Govt announces Rs100 per cylinder cut in LPG prices on Women's Day
08 Mar 2024
The central government has announced a Rs100 per cylinder reduction in the price of cooking gas (LPG), in a move that will benefit over 100 million households across the country.
India, Qatar revive LNG deal with new 20-year term contract
07 Feb 2024
India and Qatar on Tuesday announced the signing of a fresh 20-year contract under which Qatar will supply 7.5 million tonnes of liquefied natural gas (LNG) to India annually for 20 years.
RIL to convert its 5,000 diesel trucks to green hydrogen-powered trucks
05 Feb 2024
Reliance Industries Ltd (RIL) is planning to convert its internal fleet of nearly 5,000 diesel-powered trucks into green hydrogen-powered trucks as part of the company’s green initiatives.
HPCL commissions 14 tpd compressed biogas plant in UP’s Badaun district
01 Feb 2024
Hindustan Petroleum Corporation Ltd (HPCL) has commissioned a 14 tonnes per day compressed biogas (CBG) plant at Badaun in Uttar Pradesh
Saudi govt directs Aramco to limit refining capacity to 12 million barrels a day
30 Jan 2024
Saudi Arabia's government on Tuesday ordered state oil company Aramco to halt its capacity expansion plan and to rein in production to a sustainable level of 12 million barrels per day (MPD)
Exxon Mobil struggles with a $2.5 billion California offshore exit
09 Jan 2024
Exxon Mobil is set to write down approximately $2.5 billion related to its troubled California properties, marking a move to cease offshore oil production in the state after five decades.
ONGC starts oil production from deep water KG basin block
09 Jan 2024
State-owned oil and natural gas explorer, Oil and Natural Gas Corporation (ONGC), on Monday (8 January) announced the start of production of "First Oil" from the deep-water block in Krishna Godavari (KG) basin, in the East Coast of India.
Gail and Vitol sign 10-year LNG supply contract
08 Jan 2024
Gail (India) Limited and Vitol Asia Pte Ltd on Friday announced the signing of a long term LNG supply contract, under which the Switzerland-based Dutch trading company will supply a million tonnes of LNG
India hikes windfall tax on crude, eliminates tax on diesel and ATF
03 Jan 2024
Government of India on Monday announced an increase in the windfall tax levied on locally-produced crude petroleum while doing away with the tax on diesel and aviation turbine fuel (ATF).
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ONGC considers oil as an option to recover $600 million from the Venezuelan dividend
03 Jan 2024
ONGC Videsh, the overseas investment arm of India’s Oil and Natural Gas Corp., is actively considering alternatives, including the allocation of oil by Venezuela’s state oil company, PdVSA, to reclaim its outstanding $600 million dividend.
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Russian crude ships change course amid concerns over oil payments
02 Jan 2024
Several vessels transporting crude oil from Russia, previously idling off the coast of India, are now changing their course eastward, raising concerns about oil payments to Moscow and resulting in a decline in arrivals.
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ExxonMobil hands over operations of Iraqi oil field to PetroChina
02 Jan 2024
US oil giant ExxonMobil has exited the West Qurna 1 oilfield in southern Iraq and handed over its operations to PetroChina as the principal contractor, reports citing an Iraqi deputy oil minister said on Monday.
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Brazil's Petrobras brings a third floating platform into production
02 Jan 2024
Brazil’s state-owned oil and gas giant Petrobras on Sunday announced the start of commercial production from the giant Sepetiba floating production, storage, and offloading (FPSO) vessel at its Mero oil field in the pre-salt area of the Santos Basin offshore.
India, Russia to expand ties in energy, military-tech
30 Dec 2023
India and Russia have agreed on a major expansion of bilateral relations, including cooperation in energy and defence production.
34 companies bid for India’s green hydrogen subsidies
29 Dec 2023
A total of 34 companies have submitted bids for projects to be developed under the Government of India’s Green Hydrogen Mission.
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
India pays in rupee for oil imported from UAE, for the first time
27 Dec 2023
India’s bid to trade in local currency, the rupee, seems to have finally found traction. The United Arab Emirates (UAE) has accepted payment for crude oil in rupee, for the first time.
OMCs cut commercial LPG prices by Rs39.50 per cylinder
22 Dec 2023
State-run oil marketing companies (OMCs) on Friday announced a Rs39.50 reduction in the price of commercial cooking gas (LPG) that is sold in 19-kg cylinders, reflecting a fall in international prices.
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Berkshire Hathaway acquires $588.7 million worth of Occidental Petroleum shares
14 Dec 2023
Berkshire Hathaway, one of the world’s largest holding companies, acquired nearly 10.5 million shares of Occidental Petroleum.
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Oil marketing companies to set up 7,432 EV charging stations
14 Dec 2023
The ministry of heavy industries has sanctioned Rs800 crore as capital subsidy to the three public sector oil marketing companies (OMCs) for setting up 7,432 electric vehicle charging stations under Phase II of the FAME scheme.
Occidental Petroleum to acquire CrownRock LP in $12 bn deal
12 Dec 2023
US oil company Occidental Petroleum on Monday said it has entered into an agreement to acquire Midland-based oil and gas producer CrownRock L P, for cash and stock in a transaction valued
Kinder Morgan is set to acquire Texas pipelines from NextEra Energy Partners in a $1.82 billion deal
07 Nov 2023
Kinder Morgan, a U.S. gas pipeline operator, stated that it would acquire NextEra Energy Partners gas pipelines in South Texas. This statement was announced on Monday, 6 November 2023. The deal is said to be worth $1.82 billion.
Metropolitan LPG cylinder prices surge by Rs 100 for 19-Kg commercial cylinders – stay updated on current rates
01 Nov 2023
Indian state-backed oil marketing companies, or OMCs, have increased the price of their 19-kg commercial liquefied petroleum gas (LPG) cylinders by about Rs 100.
Featured articles
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation
