Page 13 - Oil And Gas

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

Fossil fuel divestment campaign gathers momentum in philanthropy

The worldwide divestment campaign has sought commitments from universities, corporations and other entities

Festival demand spurs India's gasoil consumption to above pre-Covid levels

Gasoline sales at 2.48 million tonnes rose by 3.93% from a year earlier

Indian Oil reports second quarter net profit at Rs 6,360 crore

Sequentially, net profit was higher than Rs 5,941.37 crore earned in the April-June quarter

Bharat Petroleum second quarter profit jumps 24% to over 3,200 cr

Revenue rose 53.7 per cent after global oil prices rose to a multi-year high

Oil plunges to 2-week low on US inventory shock, rise in Covid-19 cases

Brent crude dropped 94 cents, or 1.1%, to $83.64 a barrel by 0655 GMT

Crude oil prices decline more than 1% as US stockpiles sap rally

With Brent rising for the past eight weeks and WTI climbing for the past 10 weeks, prices are starting to look overbought, analysts said