The adoption of a Russia gas cap has reportedly been the subject of conversations with various nations, including India, according to White House national security adviser Jake Sullivan. “We have begun talks with India about how a price cap would work and what the implications would be,” he said. US President Joe Biden informed Indian […]Continue Reading... No Comments.
After over five months, Oil and Natural Gas Corporation (ONGC) has finally got a director appointed on the board of Hindustan Petroleum Corporation Ltd — a firm it had acquired for Rs 369.15 billion. The Ministry of Petroleum and Natural Gas on June 22, conveyed its consent for the appointment of Pankaj Kumar, Director (Offshore), […]Continue Reading... No Comments.
The ongoing Russian invasion of Ukraine has prompted the United States and other western countries to impose hard sanctions of Russia and the European Union (EU) has also been trying to decrease oil and gas imports from the country. However, India and China have been importing oil supplies from Russia even now and President Vladimir […]Continue Reading... No Comments.
Gujarat Gas Ltd – India’s largest city gas distributor in terms of volumes – is facing a double whammy of falling crude prices and rising gas prices. According to Credit Suisse, the reducing spread between gas and crude prices makes alternate fuels like propane more attractive as compared to gas. Gas prices have reasons due […]Continue Reading... No Comments.
The nascent rally in energy stocks have faded in recent past as continued slide in international crude prices and the lack of any increase in petrol and diesel prices dragged down oil marketing companies (OMCs). Energy companies including Oil and Natural Gas Corporation (ONGC), Reliance Industries, Oil India, BPCL, HPCL, Adani Total Gas are reeling […]Continue Reading... No Comments.
US President Joe Biden on Wednesday called on Congress to suspend the federal gas tax for 90 days, as Americans need immediate relief amid the nation’s soaring gas prices. “By suspending the 18-cent gas tax — federal gas tax for the next 90 days, we can bring down the price of gas and give families […]Continue Reading... No Comments.
GAIL (India) plans to enter into distributed Liquefied Natural Gas (LNG) production with the vision to cater the demand from off-grid locations and transport sector. GAIL has placed order for two small-scale liquefaction skids capable of producing LNG on a pilot basis. Liquefaction will be achieved through proprietary technology-based mobile liquefaction skids. These plants will […]Continue Reading... No Comments.
On the back of rising crude oil purchases, India’s bill for imports from sanctions-hit Russia jumped 3.5 times in a year in April to $2.3 billion, showed data from the commerce ministry. In April, India’s crude oil imports from Russia were valued at $1.3 billion, 57 per cent of India’s total inbound shipments from Russia. […]Continue Reading... No Comments.
The refining industry estimates that the world has lost 3.3 million barrels of daily capacity since 2020. Drivers around the world are feeling pain at the pump with skyrocketing fuel prices, and the costs of heating buildings, power generation, and industrial production are rising. Prices were already high before Russia invaded Ukraine on February 24. […]Continue Reading... No Comments.
Europe’s refineries took in an increasing amount of crude oil last week, tanker tracking data compiled by Bloomberg has shown. Europe’s refineries took in 1.84 million barrels per day of Russian crude oil last week—the third increase in the amount of Russian crude for the refineries in as many weeks. The oil flows from Russia […]Continue Reading... No Comments.