Page 4 - Petroleum Sector

Economic recovery to stoke demand for petroleum products: A CRISIL analysis

Demand is expected to increase further by 6-8 per cent in FY23, driven by healthy demand growth in the liquid petroleum gas (LPG) and naphtha segments

S African court blocks Shell's offshore seismic survey in legal wrangling

"We respect the court's decision and have paused the survey while we review the judgement," a Shell spokesperson said

Explained: How the release of SPR oil is more politics than economics

India agreed to release 5 mn bbl of crude oil from its SPR at an unspecified time

Govt asks ONGC to consider selling 60% stake in key oil, gas fields: Report

India, the world's third biggest oil consumer and importer, wants to quickly monetise its oil and gas reserves and has been asking ONGC for years to raise production

Fuel pump dealers bleed on sudden excise duty cut on petrol, diesel

Dealers earn a commission of Rs 2.58 a litre on diesel and Rs 3.85 a litre on petrol

Oil India aims to increase crude output by over 30% in FY24: Chairman

In a Q&A, Sushil Chandra Mishra says the company hopes to pay off long-term debt raised for NRL stake buy if crude oil rally sustains

Govt's excise collection on petro products 79% more than pre-Covid levels

The govt's collection from levy of excise duty on petroleum products has risen 33% in the first six months of the current fiscal when compared with last year and is 79% more than pre-Covid levels

Petrol, diesel prices at an all-time high after hike for third straight day

Petrol and diesel prices on Friday touched an all-time high across the country after rates were hiked

Petroleum firms hike price of domestic LPG cylinders by Rs 15

Now, the price of a non-subsidized 14.2 kg domestic cylinder in Delhi will be Rs 899.50, while the new rate of 5kg domestic cylinder stands at Rs 502

Centre-states may discuss early inclusion of natural gas into GST fold

The Centre is likely to initiate dialogue with states for inclusion of petroleum products under the new indirect tax fold.

India begins selling crude oil from strategic reserves in monetisation push

This is being done to make space for HPCL and Mangalore Refinery and Petrochemicals, which will be leasing space in the ISPRL caverns for commercial use

India overhauls petroleum reserve policy to boost private interest: Report

India, world's third-biggest oil importer and consumer, imports over 80% of its oil needs, has built strategic storage at three locations in southern India to store up to 5 million tonnes of oil

Increasing dependence on natural gas comes with supply challenges for India

Dwindling gas reserves and higher demand can put further strain

India's fuel demand rebounds in June after hitting nine-month low in May

Petrol sales rose 5.6 per cent year-on-year to 2.4 million tonnes in June.

Hardeep Singh Puri takes charge of Petroleum Ministry and Natural gas

He has relinquished the portfolio of civil aviation but still holds the Housing and Urban Affairs Ministry.

Petrol crosses Rs 100 in Chennai; at Rs 99 in Delhi, Kolkata

Petrol price on Friday crossed the Rs 100- per-litre mark in Chennai as well as in some places in Punjab and Kerala after fuel prices were hiked yet again. Petrol is priced at over Rs 99 a litre in Delhi and Kolkata -- the only metro cities which haven't seen the Rs 100 mark yet. Petrol price was hiked by 35 paise per litre on Friday but there was no change in diesel rates, according to a price notification of state-owned fuel retailers. On Thursday, the price of domestic cooking gas (LPG) was hiked by Rs 25.50 per 14.2-kg cylinder. A subsidised and non-subsidised cylinder now costs Rs 834.50 in Delhi. The increase in petrol price -- 33rd in two months -- took rates across the country to fresh highs. In Chennai, the petrol price rose to Rs 100.13 a litre. Diesel price in the city was unchanged at Rs 93.72 per litre. Petrol in Delhi now comes for Rs 99.16 a litre and the same in Kolkata is priced at Rs 99.04. Other metro cities - Mumbai, Bengaluru, Hyderabad and Pune - had last m

Exports jump 46% to $14 billion so far in June on shipment growth

Imports too rose by 98.33 per cent to $19.59 billion during the period, the data showed

Start-up Infinity Greenfield set to produce diesel from plastic plant

Infinity Greenfield, a start-up, is setting up a similar plant in Moradabad in western UP to produce diesel from polyethylene and pol­yp­ropylene plastic

Saudi Arabia committed to meet India's crude oil requirement: Saudi envoy

Saudi Arabia, the world's largest oil exporter, on Sunday said it is committed to meet India's requirements of petroleum products

Total declares force majeure on Mozambique LNG after insurgent attacks

Total, which aimed to produce its first cargo from the project in 2024, suspended work on March 27 after the militant attack