At least 54,000 petrol pumps across India will remain closed for 24 hours. The strike will take place on 13th October.
Indian oil-to-telecoms conglomerate Reliance Industries Ltd has agreed to sell a shale oil and gas block in the United States for USD126 million, a third of the price it paid seven years ago, amid a downturn in global oil prices.
Oil markets were cautious on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday.
A cut of up to Rs 2.5 per litre in petrol and diesel prices notwithstanding, auto fuel rates in India are about twice the Singapore benchmark with taxes accounting for nearly half the current rates, Moody’s Investors Service said on Friday.
Reliance Signs Agreement For The Sale Of Its Assets In The Marcellus Shale Play Of North-Eastern And Central Pennsylvaniat
Reliance Marcellus II, LLC, a subsidiary of Reliance Holding USA, Inc. (“Reliance”), and Reliance Industries Limited (“RIL”), announced the signing of agreements to divest all of its interest in certain upstream assets in north-eastern and central Pennsylvania.
Export of American crude oil to India will create jobs, economic stability and national security in both countries, US Energy Secretary Rick Perry has said, days after the first ever shipment of US crude oil landed in Odisha.
Oil prices rose about 2 percent on Thursday as signs Saudi Arabia and Russia would limit production through next year pushed the USbenchmark back above $50 a barrel.
Oil Minister Dharmendra Pradhan today asked states to follow the Centre’s footsteps in cutting taxes on petrol and diesel and said auto fuel as also natural gas should be included in the GST to cut cascading effect of duties.
Oil giant Saudi Aramco will open an Indian subsidiary next week, three sources said, as the top global oil exporter looks to tap rising demand and invest in the world’s third-biggest consumer.
The Centre wants states to do their bit in bringing down fuel prices by slashing state taxes following Tuesday’s cut in central excise duty on petrol and diesel.