The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 52.98 per barrel (bbl) on 22.05.2017.
Gulf Petrochem Group, the UAE based global bunker supplier, has set another milestone in its operations with the successful execution of the first-ever bunker supply by barge at the non-conventional port of Paradip in Odisa, India’s east coast in a joint effort with Indian Oil Corporation Limited (IOCL).
India’s oil marketing companies today cut petrol price by Rs 2.16/litre and diesel by Rs 2.10/litre tracking the weakness in global crude oil prices in the trailing fortnight and the corresponding fall in the prices of the Indian crude basket.
A group of petrol pump owners on Saturday said it has deferred the plan to shut shop on Sundays
Russian state oil firm Rosneft is struggling to close its $12.9 billion acquisition of India’s Essar Oil Ltd because six of Essar’s Indian creditors have yet to approve the deal, sources close to the talks said.
Hindustan Petroleum Corp Ltd is seeking gas oil amid planned maintenance at its 1,80,000 barrels-per-day Bathinda refinery, three industry sources said on Thursday.
The oil ministry today pitched for formulation of a policy that will encourage use of natural gas for power generation, in a bid to rectify a situation where the fuel has been neglected for long.
Indian Oil Corporation Limited (IndianOil) has launched an ambitious digital platform to dramatically enhance the quality of customers’ experience.
Russia’s largest oil producer Rosneft expects to complete the acquisition of Indian refiner Essar Oil by the end of June, Rosneft’s chief financial officer Pavel Fedorov said on Wednesday.
India has for the first time ever signed a contract to import LPG from Iran as it looks at additional sources of cooking fuel to meet rising domestic demand.