Page 9 - Oil And Gas

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.

India's retail price inflation likely to remain over 6% till April

This is owing to elevated oil and commodity prices

Disruptions return? Opposition walks out over fuel price hike

Members of the Congress, Trinamool Congress, Dravida Munnetra Kazhagam (DMK), Nationalist Congress Party (NCP), and Left parties raised slogans against the move

No need to hit panic button as oil prices may not impact govt's finances

Analysts have spelt out bleak scenarios for India's finances and growth, assuming strong crude prices

Delayed projects decline, but cost overruns rising, shows data

As prices are rising, so are expectations that the government may have to budget more for its infrastructure pipeline.

India's oil imports surge as refiners boost runs to meet demand

Indian refiners typically buy oil two months ahead of processing. Refiners are raising runs to cash in on high margins to offset some of the losses incurred for selling fuels in the local markets.

Russian oil exports to India quadrupled in March as Europe shuns cargoes

Russia has exported 360,000 barrels a day of oil to India in March so far, nearly four times the 2021 average.

Immediate fuel price hike unlikely; govt comfortable with $100 crude

The last excise duty cut by the Centre was in November 2021, ahead of elections in five key states, including Uttar Pradesh and Punjab.

India may import 15 million barrels of cheap Russian oil

Doesn't violate sanctions but on wrong side of history: US

India's benchmark indices surge on easing global oil prices

A 25 per cent drop in crude prices from recent highs, favourable outcome in state polls and bargain hunting after a sharp drop in the market have propelled the market.

Oil importers India, Thailand to be hit hardest by Ukraine crisis: S&P

Large oil importers like India and Thailand will be the most affected among Asia-Pacific countries by the ongoing Russia-Ukraine war, S&P Global Ratings has said. S&P estimates the Indian economy to grow 7.8 per cent in the next fiscal year beginning April 1, 2022. Besides, the economy is expected to grow 6 per cent and 6.5 per cent in 2023-24 and 2024-25, respectively. It projected inflation at 5.4 per cent in the current fiscal year. It said banks in Asia-Pacific (APAC) region have small direct exposure to Russia which will soften the impact of the conflict, but proximate downside risks -- in particular, actual and potential secondary economic and other risks -- lie ahead. The biggest risk of the Ukraine conflict is market volatility and higher commodity prices; emerging economies with large energy imports are most at risk, S&P said in a report. India relies on overseas purchases to meet about 85 per cent of its oil requirement, making it one of the most vulnerable in ...

ONGC fails to get bids in its tender to sell Russian oil: Report

No Indian company has publicly withdrawn from Russia and New Delhi has declined to condemn Moscow's invasion of Ukraine despite pressure from the United States to do so.

Cairn Oil & Gas to spend $4 billion, aims 3 times production increase

As high prices make investments attractive, firm charts plan for next 3 years

Ukraine crisis: Asian LNG prices slide amid stable European gas flows

Market players remain concerned over the risk of Russian supply disruption amid a tense geopolitical situation following Moscow's invasion of Ukraine

India approaching US over ONGC Videsh taking Venezuelan oil cargoes: CEO

CEO of ONGC Videsh on Sunday confirmed talks between India and the US State Department are underway to allow the company to settle past debts by trading Venezuelan oil cargoes