Page 11 - Oil And Gas

PM Modi meets global oil executives, urges to boost local production

Modi listed the upstream oil and gas reforms undertaken in the last seven years

High oil prices will undermine global recovery, warns India

Petrol and diesel prices have shot up to record highs across the country after relentless price increases since early May.

As fuel prices spike, India plans refiners' joint deals to cut import bill

With gasoline and gasoil prices rising to a record high amid India's worst power crisis in years, the nation wants to redouble its efforts to buy wisely

Sril Lanka seeks $500 million loan from India for fuel purchase

The move came few days after energy minister Udaya Gammanpila warned that the current availability of fuel in the island nation can be guaranteed only till next January.

Fuel rates hiked again, petrol at Rs 105.84 per litre in Delhi

Diesel prices have now increased 19 out of the last 23 days taking up its retail price by Rs 5.95 per litre in Delhi.

Brent oil surges to $85 per barrel as energy crisis stokes demand

Brent crude futures were up 80 cents, or 0.95% a barrel at 0930 GMT

Energy crisis threatens global economic recovery, says IEA

Oil and natural gas prices have soared to multi-year highs recently, sending power prices surging to record levels as widespread energy shortages engulf Asia and Europe

India's fuel demand increased 5.2% YoY in September

Sales of gasoline, or petrol, were 6% higher from a year earlier at 2.60 million tonnes

Oil prices increase for fourth day amid energy crunch

Brent crude was up 21 cents or 0.3% at $83.86 a barrel at 0632 GMT

Indian Oil defers maintenance shutdown of units at Haldia: Report

Haldia refinery has two crude and vacuum distillation units.

Crude jumps on global energy crunch; US oil at 7-year high

Prices have risen as more vaccinated populations are brought out of coronavirus lockdowns, supporting a revival of economic activity

Saudi Aramco hits $2-trn valuation on back of higher oil prices

Saudi Arabia's oil company Aramco reached a $2 trillion valuation as it hit near record levels Wednesday during trading hours. Its market cap value puts Aramco just behind Microsoft and Apple as the world's most valuable company. It comes as crude oil prices climb to over $82 a barrel, the highest in seven years. Demand for energy is picking up, despite the ongoing coronavirus pandemic's continued toll on travel and other key gas-guzzling sectors. Aramco is mostly owned by the government of Saudi Arabia, with just under 2% of the company publicly listed on the Saudi Tadawul stock exchange. Aramco was trading at around 37.6 riyals a share, or a few cents over $10 a share, by midday Wednesday before dipping to 37.2 riyals a share, or around $9.92 a share. It remains to be seen whether it can hold this rally until trading closes. Saudi Crown Prince Mohammed bin Salman was the architect behind the effort to publicly list a sliver of Aramco in late 2019, touting it as a way to raise ..

Oil hits multi-year high on OPEC+ restraint amid global energy crunch

Brent crude rose as high as $83.47

Oil holds near 3-year highs after OPEC+ keep tight control of taps

Oil prices have already surged more than 50% this year

Reliance floats subsidiary in United Arab Emirates for trading in oil

The plans follow an announcement in June that the Indian conglomerate will invest in projects of Abu Dhabi National Oil Co

Asian LNG prices surge to record high this week as winter starts

The average LNG price for November delivery into Northeast Asia was estimated at about $32 per metric million British thermal units (mmBtu)

India's energy demand grows at slower pace in September

Electricity consumption rose 0.8% in September, compared with 17.1% growth in August

Oil prices dip below $74 with global power crunch in focus

Futures in New York pared earlier gains as the dollar erased losses

Opec says India will be hooked on oil for years to come

Opec meets almost 71% of India's crude oil requirements

ONGC, RIL among likely winners in Asian markets from China's energy crunch

More than half of China's mainland provinces are limiting electricity use, forcing factory shutdowns that are reverberating through global supply chains.