Page 8 - Oil And Gas

How the US plans to starve Russia's 'war machine': Treasury's Adeyemo

Ukrainian leaders called on Thursday for the democratic world to stop buying Russian oil and gas, and cut Russian banks entirely from the international financial system.

CNG price hiked by Rs 2.50 per kg for 2nd day; total increase at Rs 12.50

CNG prices in the national capital on Thursday were hiked for the second day in a row by Rs 2.50 per kilogram, taking the total increase since March to Rs 12.5 per kg. CNG in the National Capital Territory (NCT) of Delhi now costs Rs 69.11 per kg, up from Rs 66.61 per kg, according to the information posted on the website of Indraprastha Gas Ltd (IGL) - the firm which retails CNG and piped cooking gas in the national capital and adjoining cities. Rates had gone up by Rs 2.50 per kg on Wednesday as well. However, there was no change in the rates of Piped Cooking Gas (PNG). It continues to cost Rs 41.61 per standard cubic meter. CNG prices in Delhi have increased by Rs 12.48 per kg since March when city gas distributors started factoring in high international energy prices. On Thursday, Mahanagar Gas Limited (MGL) raised Compressed Natural Gas (CNG) price by Rs 7 per kg to Rs 67 per kg in Mumbai while Gujarat Gas hiked rates by Rs 6.50 per kg to Rs 76.98 per kg. Prices vary from ci

Oil and gas price hike supports upstream profitability of producers: Fitch

The more than doubling of natural gas prices and rise in oil prices will boost the profitability of oil and gas producers like ONGC and Reliance Industries Ltd, Fitch Ratings said on Tuesday

Crude oil prices extend rally on prospect of fresh Russia sanctions

Brent crude futures rose $1.87, or 1.7%, to $109.40 a barrel, while U.S. West Texas Intermediate futures were up $1.83, or 1.8%, at $105.11 a barrel at 0615 GMT.

Germany faces recession if oil & gas halted, say banks

Europe's largest economy is heavily dependent upon Russia for energy, and nations banks echoed concerns over possible energy disruption expressed by big names in industry in recent days

Oil inches up as supply concerns weigh despite reserve release, Yemen truce

The United Nations has brokered a two-month truce between a Saudi-led coalition and the Houthi group aligned with Iran for the first time in the seven-year conflict.

Crude oil prices extend losses on reserves release, Yemen truce

The United Nations has brokered a two-month truce between a Saudi-led coalition and the Houthi group aligned with Iran for the first time in the seven-year conflict.

ONGC to see $3 bn rise in earnings, Reliance $1.5 bn from gas price hike

Gas accounts for 58 per cent of domestic gas production for ONGC

Energy geopolitics and LNG

The Russia-Ukraine war has put the spotlight on the role of liquefied natural gas (LNG) in the global energy futures

Street factoring in Ukraine war-driven sustained spike in energy prices

Post hike in retail fuel prices and hopes of higher profitability have led to gains in stocks of oil and gas producers, and distribution companies

World stocks dip on war, recession worries, oil falls $2 on reserve release

MSCI's global share index fell 0.17% to 710.22, against a high of 724.49 hit on Wednesday, heading for little change on the week.

Commercial LPG price increases by Rs 250; will cost Rs 2,253 from today

This is the second hike in a month. With this, the 19 kg commercial cooking gas will now cost Rs 2,253. The commercial LPG was increased by Rs 105 on March 1.

Oil seesaws ahead of consumer nations' meeting on stocks release

U.S. West Texas Intermediate (WTI) crude futures dipped 6 cents to $100.22 a barrel at 0057 GMT after trading as high as $101.75. The contract slumped 7% on Thursday.

Biden spurs record emergency oil release in 'moment of peril' for world

Biden's 180 million-barrel release is equivalent to about two days of global demand, and marks the third time Washington has tapped the SPR in the past six months.

Biden to release of 1 mn barrels of oil a day to ease pump prices

Higher prices have hurt Biden's approval domestically, while also adding billions of oil-export dollars to the Russian war chest as it wages war on Ukraine

European stock markets set for biggest quarterly drop since 2020

Asian shares fell and oil prices plunged following news that the United States was considering releasing up to 180 million barrels from its strategic petroleum reserve

Asian stock markets ease, oil sinks as US weighs reserves release

MSCI's broadest index of Asia-Pacific shares outside Japan fe.ll 0.2%, led by a 0.7% drop for Hong Kong's Hang Seng. Japan's Nikkei fell 0.2%. Australia's resource-heavy index was up 0.4%.

Europe told to turn down the heating in Russia gas standoff

"There is absolutely no need to apply this guidance in the UK," a government spokesperson said

Oil rises on supply tightness despite 'constructive' Ukraine-Russia talks

Brent crude futures touched a high of $112.78 shortly after opening and were up $1.35, or 1.2%, at $111.58 at 0005 GMT, reversing a 2% loss in the previous session.

Oil prices drop on China demand worries, Ukraine peace talk hopes

Brent crude futures were poised to open around $3 lower, also after sliding around 7% in the previous session.