India’s Reliance Industries Ltd, owner of the world’s biggest refining complex, imported 6.8% less oil in May than a year ago, according to data from shipping and industry sources. The sources declined to be identified as they were not authorised to speak with the media.
Despite US President Donald Trump’s decision not to bomb Iran in spite of the downing of a US drone, the crude prices are steadily rising. The momentum of the upward swing of the Brent that has gained about 30 per cent since the beginning of 2019 may carry it towards $100 per barrel
The UAE has assured India that it will cover any shortfall in oil supplies following the US sanctions on Iran, United Arab Emirates Ambassador to India Ahmed Al Banna said Monday.
Petroleum Minister Dharmendra Pradhan said that the government in February, 2019 has approved major reforms in exploration and licensing policy to enhance exploration activities, attract domestic and foreign investment in unexplored/unallocated areas of sedimentary basins
Residents of Ambala City and Thanesar in Kurukshetra districts are set to get the double benefit of piped natural gas (PNG) and compressed natural gas (CNG). The work to lay the PNG pipeline has already begun in the two cities
India imported 4.3 million barrels per day (bpd) of oil in May, a decline of 11% from the previous month, according to preliminary tanker arrival data obtained from shipping and industry sources, as some refiners plan maintenance work.
More Indian-flagged crude oil and liquefied petroleum gas (LPG) tankers are taking the Indian Navy escort service on their journey through the Strait of Hormuz carrying oil and gas for Indian buyers after the government last week allowed fleet owners to deploy Navy
Iranian Oil Minister Bijan Zanganeh denied on Monday reports that Iranian oil exports had declined in recent days. “The news is completely wrong,” Zanganeh was quoted as saying by Fars news agency.
Fuel prices registered an increase of 7 paise per litre on Monday. Petrol and diesel rates remained unchanged in past few days while from Sunday onwards prices have started increasing.
A surge in India’s oil imports from the United States outpaced growth in shipments from its traditional suppliers in the Middle East, after Washington imposed sanctions on Tehran in November, according to tanker arrival data obtained from sources.
