France’s TotalEnergies (TTEF.PA) and Japan’s Inpex Corp (1605.T) said that they had agreed to sell their interests in Angola’s Block 14 B.V. to Angolan Company Somoil for an undisclosed sum. Angola Block 14 B.V, which is owned by TotalEnergies Holdings International B.V with a 50.01% stake and Inpex Angola Block 14 Ltd with a 49.99% […]Continue Reading... No Comments.
Megha Engineering and Infrastructures Ltd (MEIL) walked away with the most 15 licences to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round, while a joint venture of billionaire Gautam Adani’s gas arm and Total of France got 14 licences. According to the results of the bid […]Continue Reading... No Comments.
Traditionally, Union budgets have mattered for people at large because of two reasons: prices of goods and income tax rates. There is some merit in the argument that inflation is a bigger dampener on economic sentiment in India than low growth rates There is some merit in the argument that inflation is a bigger dampener […]Continue Reading... No Comments.
Indian state refiner Hindustan Petroleum Corp. will lift 45 percent more oil from Iraq this year to meet its expanded refining capacity, sources familiar with the matter said. The refiner will buy 3.2 million tons or about 64,000 barrels per day (bpd) from Iraq this year, up from 44,000 bpd in 2021, they said. Iraqi […]Continue Reading... No Comments.
Oil prices rose more than $1 on Tuesday to a more than seven-year high on worries about possible supply disruptions after Yemen’s Houthi group attacked the United Arab Emirates, escalating hostilities between the Iran-aligned group and a Saudi Arabian-led coalition. The “new geopolitical tension added to ongoing signs of tightness across the market,” ANZ Research […]Continue Reading... No Comments.
Sri Lanka will hold talks with the Indian Oil Corporation on Tuesday as part of a desperate measure to tide over the current fuel and energy crisis faced by the island nation, Power Minister Gamini Lokuge said on Monday. Lokuge said that the talks with the Indian Oil Corporation’s local entity would be held for […]Continue Reading... No Comments.
Reliance Industries Ltd (RIL) has proposed to invest Rs 5000 billion in Gujarat, over the next 10 to 15 years, to set up 100 GW renewable energy power plant and green hydrogen eco-system development, to make Gujarat net zero and carbon free. RIL will also develop an eco-system for assisting small and medium enterprises (SMEs) […]Continue Reading... No Comments.
India’s gasoil sales declined in the first fortnight of January as rising COVID-19 infections hit consumer spending and truck movement in the country. Gasoil sales by the country’s state fuel retailers amounted to 2.47 million tonnes during Jan. 1-15, data compiled by state-owned refiners showed, down by 14.1% from the same period in December and […]Continue Reading... No Comments.
Indian Oil said on Sunday that it secured nearly 33 per cent of the potential demand in the recently concluded round of the city gas distribution (CGD) bidding by the Petroleum & Natural Gas Regulatory Board (PNGRB). The energy major bagged nine out of the 15 high potential geographical areas (GA). Indian Oil plans to […]Continue Reading... No Comments.
China’s offshore oilfield cluster Bohai, run by state-run CNOOC Ltd , has become the country’s largest crude oil producer with output hitting 30.132 million tonnes (602,640 barrels per day) in 2021, state news agency Xinhua reported. Bohai field, off north China, overtook the country’s flagship onshore producer Daqing, in northeast China, which pumped 30 million […]Continue Reading... No Comments.