Indian Oil Corp (IOC) on Thursday said its board had approved the buyback of 3.06% of equity shares for Rs 4,435 crore.
The threat of an all-out trade war has dampened the outlook for the global economy, but the recent drop in oil prices should support demand, the International Energy Agency said on December 13.
Union Petroleum Minister Dharmendra Pradhan on Thursday wrote a letter to Odisha Chief Minister Naveen Patnaik requesting him to provide land for four big projects by Petroleum Ministry in the State.
In the run-up to the general elections next year, government is pushing for 5 kilogram (KG) liquefied petroleum gas (LPG) cylinder under the Pradhan Mantri Ujjwala Yojana (PMUY) in order to increase the consumption in rural
Oil minister Dharmendra Pradhan on Wednesday said the increasing dependency on imported fuel should not be seen as a challenge to the energy security programme that the country is building on.
The government has deferred the auction of 25 oil and gas fields by one month that hold resources worth an estimated Rs 1 lakh crore, upstream regulator Directorate General of Hydrocarbons (DGH) said.
Even as crude oil rates have fallen by about 2% this week and 30% in the past two months, state-run fuel retailers increased petrol price today by 9-30 paise. This is the first increase in fuel prices in India since almost 2 months.
India’s monthly petroleum products consumption dropped 1.7 per cent to 17,273 in November primarily due to a decline in usage of Liquefied Petroleum Gas (LPG), Diesel, Kerosene and Petcoke, fresh data released by the oil ministry’s statistical arm showed.
Iranian Oil Minister Bijan Zanganeh said on Wednesday that, because of U.S. sanctions, India had refused to allow a Russian-owned Indian refinery to use Iranian crude oil that India had obtained under waivers.
Oil Marketing Companies (OMCs) have issued advertisements for setting up 55652 petrol pumps in across 30 States in November this year. More advertisements for the same can be expected according to the Ministry of Petroleum and Natural Gas.