Page 9 - Petroleum Sector

India's non-petroleum exports to UAE underperform after FTA, shows data

In comparison, India's overall non-petroleum exports grew 8 per cent during May-July while overall exports grew 15.1 per cent during the same period

Share of petro products in exports touches record high at 21.2% in Apr-Aug

India's heavy dependence on energy exports have also boosted its overall merchandise exports

Crude oil output to go up substantially from next year: Petroleum Secy

Pankaj Jain's comments follows contracts signed by govt for 34 oil exploration blocks; minister Hardeep Singh Puri asserts energy crisis in Europe far worse than India

Opec+ to cut crude oil output by 100k barrels per day from October

In a step that may increase prices in India, the group has decided to reduce output quotas for October, after a fall in global oil demand outlook.

Latest LIVE: Nadda asks Kejriwal to prove innocence in liquor scam case

From the developments around Congress president elections to latest Covid news, catch all the live updates here

India, 9 other countries eye Lankan market to sell petroleum items: Report

Sri Lanka's Ministry of Power and Energy has said that 24 companies from 10 countries, including India have evinced interest in selling petroleum products in the crisis-hit country's petroleum sector, according to media reports. Sri Lanka is in the midst of its worst economic crisis in decades, which is triggered by a severe paucity of foreign exchange reserves. Sri Lanka's Minister of Power and Energy Kanchana Wijesekera said that 24 companies from the United Arab Emirates, Saudi Arabia, the United States, China, India, Russia, the UK, Malaysia, Norway and the Philippines have submitted proposals for the Expressions of Interest (EOI) to engage in the country's petroleum sector, news portal Colombo Page reported on Sunday. In July, the Ministry of Power and Energy had called for EOI from established companies in petroleum producing countries using their funds for distribution and selling of petroleum products in Sri Lanka on a long-term basis. A ministry-appointed panel will now ..

24 foreign firms show interest in petroleum business in Sri Lanka: Minister

Twenty-four companies from India, the United Arab Emirates, Saudi Arabia, the US, China, Russia, the UK, Malaysia, Norway, and the Philippines are interested in the petroleum business in Sri Lanka

MGL, Gujarat Gas: Analysts see some silver lining for downstream gas stocks

Analysts have lowered their earnings estimates, but have 'buy' recommendations for several stocks

Excise duty on petrol was Rs 9.48/ltr, diesel Rs 3.56 in 2014: Minister

Excise duty on petrol was Rs 9.48 per litre and Rs 3.56 on diesel when BJP came to power in 2014 before it rose to a record Rs 32.98 and Rs 31.83, respectively, in May 2020, Parliament was informed

India's petrol, diesel sales fall in July as monsoon sets in: Data

Petrol and diesel sales in the country fell in July over the previous month as the onset of monsoon chipped away demand in some sectors and restricted mobility, preliminary industry data showed. Diesel, the most widely used fuel in the country, saw consumption drop 13.1 per cent to 6.44 million tonnes from 7.39 million tonnes of demand in June. The arrival and intensity of monsoon weigh heavily on diesel demand in the country and consumption traditionally is lower in July-September than in April-June. Rains restrict mobility and demand from the farm sector, which uses diesel in irrigation pumps and trucking, also drops with the onset of rains. Diesel demand in July was, however, 17.1 per cent higher year-on-year, supported by strong economic growth and a relatively low baseline for the same period in 2021 when the second wave of COVID-19 had impacted the economy. Consumption of diesel was 32.4 per cent higher than the 4.84 million tonnes demand during July 2020 and 5 per cent more

OPEC secretary-general Mohammad Barkindo dies, just weeks shy of departure

The Secretary-General of the Organization of Petroleum Exporting Countries has died, Nigerian authorities and the oil cartel announced Wednesday.

Oil India, ONGC tank up to 33% in 1 week on windfall tax, fall in Brent oil

Oil India was down 8 per cent at Rs 176, while ONGC shed 6 per cent in traes on Wednesday.

PACS may be allowed by Centre to sell petroleum products, run PDS shops

The Centre has proposed to allow primary agriculture credit societies (PACS) to undertake activities like dealership of petroleum products, running PDS shops, etc

ONGC, Oil India extend fall; tank up to 20% in two days on windfall tax

Brokerage firm Motilal Oswal reiterates its BUY rating with revised target prices of Rs 171 and Rs 364 for ONGC and Oil India, respectively.

Export duty on steel and petro products to hit corporate earnings in FY23

Metals & oil firms together saw profit of Rs 3.05 trn in FY22

RIL-BGEPIL dispute: Govt mulls appealing against English court order

Reliance and BGEPIL on Dec 16, 2010, dragged the govt to arbitration over cost recovery provisions, profit due to the state and amount of statutory dues including royalty payable

Public Sector OMCs in Tamil Nadu to set up 900 e-charging stations

The e-charging station owners want the government to provide more subsidies to those who buy e-vehicles as this would increase the carbon footprint and thereby increase the environmental conditions

Freight rates in May fall but transporters defer fleet expansion plans

Customers pay less after six months for but transport companies feel the pinch of inflation.

Single bid for BPCL wouldn't have helped fetch a better price: DIPAM Secy

Tuhin Pandey says LIC investors should be patient and look at the insurer's long-term prospects

Govt needs to clarify whether it wants oil price control or exports

The consequences of such confused messaging were felt in the lack of bidders for BPCL, forcing Delhi to abandon efforts to privatise the refiner