Crude oil

US sells off Iranian crude oil seized off coast of UAE

Prosecutors say shippers tried to disguise the shipment by labeling it as “Basra light crude” from neighboring Iraq.

published on : 31st May 2021

Rising crude oil prices boost Indian Oil Q4 profit

The result was a 52 per cent jump in inventory gains from the Rs 5,622 crore recorded during the previous quarter.

published on : 20th May 2021

Global brent crude oil price teases USD 70 per barrel mark as demand rises

Despite the sharp rise in cases in India among the three largest oil consumers in the world brent crude oil prices rose to just below the $70 per barrel mark on Wednesday.

published on : 6th May 2021

Crude to be around USD 60 per barrel in 2021

With regard to gross refining magind, the outlook is modest as capacity addition is expected to exceed to refined products demand growth.

published on : 17th April 2021

Surya Roshni bags Rs 299 crore order for supply of carbon steel line pipes to Numaligarh Refinery

The company has obtained an order amount of Rs 299.07 crore excluding GST for supply of...external coated carbon steel line pipes to Numaligarh Refinery.

published on : 12th April 2021

Crude prices tank after OPEC+ decides to hike production from next month

The cartel had brought in these production cuts in order to stabilise oil prices after the pandemic destroyed a major portion of demand last year.

published on : 6th April 2021

Domestic fuel prices expected to fall as Covid surge dampens crude cost

The fall in oil prices comes after a massive wave of Covid-19 infections continued to impact large parts of Europe. 

published on : 29th March 2021

Aramco needs crude at over $65 to raise capex, buy RIL stake, say analysts 

Aramco achieve the required capex to buy a stake, they added, since both companies have indicated that talks are still going on regarding their earlier announced partnership. 

published on : 27th March 2021

Goldman Sach expects crude oil to hit $80 this summer despite price pullback

Having breached the $70 per barrel mark early this month, crude prices have dived over the past week on concerns over rising Covid cases Brent crude was trading at $63.67 per barrel on Friday. 

published on : 20th March 2021

No proposal to bring petrol, diesel, ATF, gas under GST: Finance Minister Nirmala Sitharaman

While the taxes haven't come down, a spike in global oil prices on demand recovery has pushed petrol and diesel to an all-time high, leading to demand for them come under the GST.

published on : 15th March 2021

Crude prices breach 13-month high on tight supplies, likely to trend higher

On Thursday, Brent crude oil hit levels last only seen on January 8, 2020 at $67.70 per barrel, before easing a little to fall just below the $67 mark.

published on : 26th February 2021

Crude volatile as OPEC meets to decide on output cuts

With Chinese oil demand turning out to be stronger than expected, crude prices will likely keep trending upward if the status quo on output is maintained.

published on : 5th January 2021

Reliance Industries, BP commit to pay for any shortfall in KG-D6 production to buyers

The GSPA said that the buyer on his part will be obliged to offtake the committed gas volumes or pay for it i.e. take or pay.

published on : 3rd January 2021

India’s crude production nosedives as Rajasthan oil fields see output contract

Domestic crude production contracted by nearly 5 per cent in the month of November after production in the Cairn Vedanta-owned Rajasthan oil fields fell sharply.

published on : 23rd December 2020

Reliance, BP to get government capped price of USD 4.06 for new gas from offshore field KG-D6

Reliance-BP in November 2019 auctioned initial gas from the R-Series field at a biddable percentage of Brent crude oil price.

published on : 20th December 2020
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