Friday, January 21, 2022

Crude oil

Editorial: More symbolic than strategic

The world’s third largest oil importer, India, has decided to release 5 million barrels of crude oil from its strategic reserves in a concerted...

India to release 5 mn barrels of crude oil from strategic reserves to cool prices

New Delhi: India will release 5 million barrels of crude oil from its emergency stockpile in tandem with the US, China, Japan, and other...

Why Centre must further reduce central levies on fuel charges

Hyderabad: There is a bigger game plan behind the recent decision of the Union Government in reducing the excise duty on petrol and diesel...

New Delhi: Petrol, diesel prices hiked as crude nears $80/barrel

New Delhi: Petrol price on Tuesday was hiked by 20 paise per litre and diesel by 25 paise as international oil prices neared $80...

Petrol prices cross Rs 100 mark in Telangana

Vinay Kumar, President of Telangana State Petrol Association, shares that the price hike will continue for a couple of weeks

IOC to invest Rs 24,000 cr in refinery expansion, petchem project

The inclusion of the petrochemical-lube integration component comes as part of IOC's strategy to create a building block for future production of niche chemicals.

Eight core sectors’ output skyrockets by 56.1% in April

According to the commerce and industry ministry data, production of natural gas, refinery products jumped by 25 per cent, 30.9 per cent, respectively.

More petroleum products produced in April despite lower demand

Production of petroleum products by Fractionators during April, 2021 was 365.89 TMT which is 5.08 per cent higher than the target for the month.

India’s gas output rises 23% as RIL-BP fields start production

India's crude oil production, however, slipped 2 per cent to 2.49 million tonnes as state-owned ONGC and Oil India Ltd (OIL) produced less.

Crude to be around $60 a barrel in 2021

The expectation for the crude was that it may surge in 2021 on the back of economies recovering as vaccinations tamed the spread of Covid-19.

Crude oil tumbles as Suez ship freed

This will clear the canal and allow movement on the busiest waterway in the world. Crude prices fell after rising 4 per cent over the last few days as the blockage was causing $ 9 billion of trade loss every day.

No proposal to bring petroleum commodities under GST: FM

This meant that the central government continued to levy excise duty, while state governments charged VAT.

Crude oil prices rise on global tensions

The spike in oil prices comes after Iran-backed Houthi rebels unleashed a coordinated attack on Saudi Arabia oil facilities and military bases.

Gulf of Guinea, a piracy hotspot

Nowhere on Earth do pirates strike more often than the Gulf of Guinea, where more than 130 sailors were taken hostage last year.

State-owned Indian Oil Corporation to monetise pipeline assets

Finance Minister Nirmala Sitharaman in her Budget for fiscal year beginning April 1, announced monetisation of oil and gas pipeline assets of IOC, gas utility GAIL (India) Ltd and Hindustan Petroleum Corporation Ltd (HPCL).

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