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Latest Articles in oil and gas

Indian Oil Plans $5.5 Billion Expansion Of Refinery Co-owned By Iran

The Nagapattinam plant operated by IOC's subsidiary Chennai Petroleum Corp requires a complete overhaul to produce the cleaner, higher grade fuels

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Iran Overtakes Saudi Arabia As Top Oil Supplier To India

Iran's surge to the No.1 spot is due partly to less available crude from Saudi Arabia, which has increased its capacity to refine oil instead of just exporting more crude

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Petrol And Diesel Prices Hiked, Sixth Time Since September

The five previous hikes had totaled to Rs 6.36 a litre and after including Saturday's increase, the price of petrol has gone up by Rs 7.53 per litre in just over two months

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Reliance To Contest Government's $1.55 Billion Penalty

Reliance Industries is to contest a $1.55 billion fine imposed by the government on the company and its partners for selling gas belonging to the blocks of Oil and Natural Gas Corp

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Oil CEOs To Unveil Renewable Energy Fund In New Climate Push

The chief executives of seven oil and gas companies - BP, Eni, Repsol, Saudi Aramco, Shell, Statoil and Total - will announce details of the fund and other steps to reduce greenhouse gases in London

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India's $20 Billion Refinery Expansion To Cut Fuel Oil Output

India may turn into a net importer of fuel oil as its state-owned refiners are making multi-billion dollar investments to upgrade their refineries and produce more profitable refined products such as gasoline or diesel

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Russia's UCP Says Plans To Keep Essar Oil Stake For 3-5 Years

Russian state oil company Rosneft will get a 49 per cent stake in Essar Oil in the deal, which was structured to mitigate western sanctions and was valued at $12.9 billion

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High Court Dismisses Cairn India's Plea To Export Crude

The court said in the absence of a notice from the Centre saying India has attained self sufficiency, Cairn 'can only claim compensation' from the government under the production sharing contract

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Deal With Rosneft Is US Sanctions-compliant, Says Essar Group CEO Prashant Ruia

The $12.9 billion sale of India's Essar Oil to a group led by Russia's Rosneft does not run foul of US sanctions imposed against the majority state-owned Russian energy firm, parent Essar Group's CEO said

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India, Russia To Study Building $25 Billion Pipeline

The shortest route will entail bringing the pipeline through Himalayas into Northern India, a route which poses several technical challenges

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Rosneft-led Group Acquires Essar Oil For Nearly $13 Billion

Russia's state-controlled oil giant Rosneft and its partners on Saturday took over India's second biggest private oil firm Essar Oil in an all-cash deal valued at about $13 billion

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Rosneft, Trafigura And UCP To Buy Essar Oil For $12-$13 Billion, Say Sources

Russian oil major Rosneft, along with European trader Trafigura and Russian fund UCP, will acquire 98 per cent in India's Essar Oil for about $12-$13 billion including debt

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BP To Set Up 3,500 Fuel Stations In India

European oil major RoyalDutch Shell has 82 fuel stations in India, a retail market dominated by state refiners that own 93 per cent of the 56,190 outlets in the country

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BP India Gets Licence To Sell Jet Fuel In India

The company says it is 'a very large player globally in the aviation business, so it makes sense' to have a presence in India

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Gas Price For Industrial Use Cut By 18 Per Cent

As per the new gas pricing formula approved by the NDA government in October 2014, gas prices are to be revised every six months and the next change is due on April 1

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