Page 10 - Oil And Gas

Selling shares during talks to Panama Papers: The story of Cairn retro tax

Govt last month refunded about Rs 79 bn it collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds to settle 8 yr dispute

Musk seeks immediate boost in oil, gas production to replace Russian output

Tesla Founder Elon Musk called for an immediate increase in oil and gas production around the world because sustainable solutions cannot replace Russian output."Hate to say it, but we need to increase oil & gas output immediately," Musk wrote on Twitter on Friday. "Extraordinary times demand extraordinary measures."Musk added that although increasing oil and gas production would affect Tesla negatively, sustainable energy solutions cannot react instantaneously to make up for Russian oil and gas exports.Earlier in the day, Bloomberg News reported that the Biden administration is considering imposing a ban on imports of Russian crude oil to the United States.US Senators Joe Manchin proposed a bill that would prohibit the import of Russian crude oil, petroleum, petroleum products, liquefied natural gas (LNG) and coal.Meanwhile, US President Joe Biden, in his State of the Union Address on Wednesday, pledged to enable exports of energy from US reserves with the EU working on to curb .

Oil price surge turns India's bonds into most risky in emerging Asia

A selloff in India's bond markets, including its corporate debt, is gathering pace as oil prices extended their rally above $110 a barrel after Russia invaded Ukraine

Amid Ukraine crisis, clouds of uncertainty weigh on OMC stocks

Fall in refining margins and likely sharing of subsidy burden are key overhangs

Russia-Ukraine war: Pleas to stop buying Russian oil and gas go unheeded

Washington and Brussels have carved out loopholes big enough for an oil tanker in their current sanctions policy, allowing the trade to continue.

BP exiting stake in Russian oil, gas company Rosneft over Ukraine invasion

BP said Sunday it is exiting its share in Rosneft, a state-controlled Russian oil and gas company, in reaction to Russia's invasion of Ukraine.

Ukraine conflict: Oil surges on Russia nuclear alert as sanctions intensify

The nuclear alert and bank payment constraints heightened fears that oil supplies from the world's second-largest producer could be disrupted

Economists say higher oil prices pose more risk to India's growth momentum

India, which meets nearly 80% of its oil needs through imports, could be hit by a widening trade deficit, weakening rupee and higher inflation

Iranian prez seeks international resistance to US oil, gas sanctions

Iranian President Ebrahim Raisi has urged the international community to resist US unilateral "cruel sanctions" against other countries' oil and gas industry.

Nigeria files lawsuit against JP Morgan for disputed $1.7 billion oil deal

A London court will on Wednesday begin to hear a lawsuit launched by Nigeria against U.S. bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal.

HSBC sets target of 34% cut to emissions from oil and gas clients by 2030

HSBC aims to cut emissions associated with loans made to its oil and gas clients by 34% by 2030, said bank's sustainability chief.

Centre anticipates fuel demand to grow 5.5% in the next fiscal year

Local demand for gasoline, used mainly in passenger vehicles, is expected to rise by 7.8%, while gasoil consumption was slated grow by about 4%

India bags ten bids for eight oil and gas blocks in latest bid round

Four companies, including 3 state-owned, put in 10 bids for the 8 oil and gas blocks on offer in India's latest round of bidding for exploration acreage, says the Directorate General of Hydrocarbons.

Rising oil and gas prices can lead to greater gains in ONGC stock

Demand and pricing environment remains positive; any reversal in energy prices could hurt sentiment

Saudi Arabia transfers 4% of oil giant Aramco to investment fund

The announcement on state media comes as the oil firm is valued just under $2 trillion.

Oil prices steady amid prospects of aggressive Fed interest rate hike

After U.S. inflation data came in on Thursday at its hottest in 40 years, St. Louis Federal Reserve Bank President James Bullard said he wanted a full percentage point of interest rate hikes by July 1

Oil up as US inventories fall to lowest since Oct 2018 but Iran talks weigh

Brent crude futures rose 65 cents, or 0.7%, to $92.20 a barrel at 1140 GMT, while U.S. West Texas Intermediate crude was at $90.64 a barrel, up 98 cents, or 1.1%

Oil prices drop on potential for US-Iran talks to add crude supplies

Investors are closely watching the outcome of U.S.-Iran nuclear talks which resumed this week. A deal could lift U.S. sanctions on Iranian oil and ease global supply tightness

India's fuel demand reined in by Covid-19 restrictions in January

Fuel consumption in the world's third biggest oil consumer, a proxy for oil demand, totalled 17.61 million tonnes, down 3.7% from December

Oil prices stable at $90/Bbl, Iran supply prospects add pressure

Brent crude futures edged down 36 cents, or 0.4%, to $90.42 a barrel by 1150 GMT