Page 13 - Oil And Gas

Brent slumps under $80 as investors wary of new variant, Q1 surplus

Oil fell in tandem with other financial markets on fears that the new variant could slow economic growth and restrict movement again

Reliance, Aramco called off $15-bn deal amid valuation differences: Report

Talks broke down over how much Reliance's O2C business should be valued as the world seeks to move away from fossil fuels and reduce emissions, say sources

India's gas consumption to jump more than 3 times by 2030: GAIL Director

India's natural gas consumption is projected to rise to as much as 550 million standard cubic meters per day by the end of the decade as the user base expands GAIL India's E S Ranganathan said

Reliance to transfer Jamnagar asset to subsidiary for syngas production

The transfer will help "unlock the value of syngas" and will help the company's transition to renewables as its primary source of energy, said the company in a press release

Oil rises as investors sceptical about effectiveness of reserve release

Brent crude futures rose 13 cents, or 0.2%, to $82.44 a barrel by 0742 GMT

Explained: Why does India fail to attract foreign investments in oil & gas?

The scenario reflects the larger uncertainties in global fossil fuel investments and India's whimsical policy environment

US to release oil from reserves after OPEC+ rebuffs call for more crude

The White House issued the statement after a source in the U.S. administration said Washington had been hashing out a plan with major Asian energy consumers to drive down prices

US to release 50 mn barrels of oil from emergency reserve: White House

India will release 5 million barrels of oil from its strategic reserves in coordination with other buyers including US, others

Top headlines: Voda Idea too raises tariffs; NoBroker becomes an unicorn

Business Standard brings you the top stories on Tuesday

Oil prices decline on plans to tap emergency crude reserves

The United States is expected to announce a loan of crude oil from its emergency stockpile on Tuesday

Japan mulls releasing oil reserves to respond to increasing prices: Reports

Previously, Japan resorted to this measure only in case of natural calamities or disruptions in overseas supplies caused by unstable political situation

India's diesel demand dips in first half of November, show govt data

India's gasoil consumption, which accounts for about two-fifths of the country's fuel demand, typically rises during a month-long festival season that ended earlier this month

Oil prices bounce back on tight inventories, demand worries limit gains

Brent futures added 96 cents, or 1.2%, to $83.01 a barrel, as of 0712 GMT

At Rs 18,348 cr, ONGC's Q2 profit highest in a quarter for any Indian firm

ONGC's total crude oil output dipped 3.8 per cent to 5.47 million tonnes while gas production stood 7 per cent lower at 5.467 billion cubic metres

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

RIL exits US shale gas business by divesting Eagleford Upstream asset stake

Reliance Eagleford Upstream Holding announced the signing of agreements with Ensign Operating III, LLC, a Delaware limited liability company to divest its interest in certain upstream assets

EU gas and power prices jump as higher Russian flows fail to materialize

Benchmark gas futures traded in the Netherlands surged as much as 9.7% as orders via a key Russian pipeline signaled shipments will remain well below normal on Monday

Oil and gas explorer Cairn Energy to change name to Capricorn Energy

Britain oil and gas explorer Cairn Energy PLC will change its company name to Capricorn Energy PLC from mid-December, around the time its over USD 1 billion retrospective tax dispute will be nearing closure. Cairn Energy, which gave India its biggest onland oil discovery, had in 2011 sold the India unit, Cairn India to mining baron Anil Agarwal's Vedanta Group. The sale included the transfer of the Cairn brand name to Vedanta. But both the UK firms and Vedanta kept using the name - while Cairn Energy did not change its name all this while, the mining group continued with Cairn India Ltd till 2018 when the firm was merged with Mumbai-listed Vedanta Ltd. Since then, the oil and gas exploration and production operations of Vedanta Ltd are organised as Cairn Oil & Gas. In a statement, Cairn Energy PLC said it "plans to change its company name from Cairn Energy PLC to Capricorn Energy PLC, effective from December 31, 2021. The LSE stock ticker will remain as CNE". This, it said, ...

OPEC+ likely to stick to plans to raise oil output: Report

Oil prices have surged this year to a three-year high above $86 a barrel as OPEC+ ramps up supplies gradually and demand recovers

India oil demand unlikely to peak before 2040: Hindustan Petroleum Chairman

Prime Minister Narendra Modi on Monday made a bold pledge to cutting emissions at the world's third-biggest emitter to net-zero by 2070