Page 22 - Oil And Gas

Reliance gets shareholders nod for hiving off O2C into separate unit

The firm said it has secured approval of its shareholders and creditors for hiving off its oil-to-chemical (O2C) business into a separate unit.

Subhash Kumar takes additional charge as ONGC CMD

Kumar is also the firm's director (finance) and has over 36 years of experience in diverse activities across the Exploration & Production value chain

Privatisation-bound BPCL acquires OQ's stake in Bina refinery

Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it has acquired partner OQ's entire stake in the Bina refinery project in Madhya Pradesh for Rs 2,400 crore.

Best of BS Opinion: Competition in e-tail, Covid-19 vaccine, and more

Here's a selection of Business Standard opinion pieces for the day

Explained: Why 'atmanirbharta' flows against oil security for India

Instead of relying on negligible domestic deposits, India should be securing steady supplies from abroad

Oil price falls 1% after container ship blocking Suez Canal refloats

Prices also dropped as fuel demand in Europe remained weak after countries renewed lockdowns to curb a new wave of coronavirus infections.

Fourteen US states sue Biden administration over oil and gas leasing pause

Fourteen US states including Louisiana and Wyoming filed lawsuits against President Joe Biden's administration, challenging his pause on new oil and gas leasing on federal lands and waters

Gas-fired stocks to charge ahead as demand for cleaner fuels rises: Experts

Rising availability and demand for cleaner fuels will aid growth

GAIL set to kick off asset monetisation in oil sector by end of 2021-22

InvIT to be floated by the end of next fiscal year

Reliance affiliate picks 3/4th of gas from own CBM block at $6 price

Reliance Industries Ltd has sold three-fourth of the gas from coal seams in Madhya Pradesh to an affiliate of the company at a price of just over USD 6 at current oil prices.

Oil prices steady after overnight sell-off as demand doubts persist

Oil prices plunged 7% for a fifth day in a row on Thursday

Oil ministry wants Covid-19 vaccination for employees at forefront

The ministry said these frontline workers had braved the intense first wave of the pandemic and ensured uninterrupted fuel supplies to the country

Oil prices fall 2% as inventories rise and vaccine rollout stalls

A sharp rise in the value of the dollar after the Fed meeting has also driven the oil sell-off

World may see peak of petrol demand by 2035 but not in India: Official

The world is likely to see peak demand for petrol by the late 2020s and for diesel by 2035, a senior petroleum ministry official said Thursday

Only half of urban slum households use LPG exclusively: Study

An independent study on the usage of the LPG shows that very few households, even in urban areas, use the cleaner fuel in their kitchen

Oil prices rise on economic outlook, drawdown in fuel stocks

Brent crude oil futures for May rose 79 cents

Oil & Gas shares rally; ONGC, Gail surge up to 7%, hit 52-week highs

The recent rebound in crude oil prices has been driven by gradual recovery in global economy and thereby, improving demand for crude oil even as it remains below pre-Covid levels

Amid high oil prices, Saudi asks India to use cheap oil it bought last year

International oil prices rose after OPEC and its allies ignored India's plea to ease production control

Oil extends gains on prospect of OPEC+ sticking with supply cuts

The market had been expecting OPEC+ to ease production cuts by around 500,000 barrels per day (bpd) from April

Oil rises as US vaccine progress raises demand expectations

Brent crude futures rose 24 cents, or 0.38%, to $62.94 a barrel after four days of losses