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View: India can become a rule-maker in the global oil trade instead of the rule-taker it is today

India needs to push for a bigger role for its exchanges and currency in the oil trade.

RIL-Saudi Aramco deal unlikely to close by March-end, says CFO

Mukesh Ambani-led Reliance Industries is unlikely to close the deal for 20 per cent stake in its oil to chemicals business to Saudi Aramco by March 31 this year, according to a senior company official.

Petrol, diesel prices cut after slump in crude rates

After no change on Wednesday, the fuel prices dropped on Thursday as the price of petrol was cut by 15 paise and that of diesel by 14 paise across all major cities in the country.

Subsidised LPG prices rise 13% in 6 months

State oil companies raised prices of subsidised cooking gas by nearly Rs 30 a cylinder in August and raised it by another Rs 32 in the five months that followed. The current hike appears steep compared to the total increase of Rs 82 in five years to mid-2019.

India exploring ways to source crude oil from Russia: Pradhan

Indian refiners have been seeking crude oil from different parts of the globe to reduce their dependence on the conflict-prone Middle-East region that currently makes up about 60 percent of its imports.

Government seeks Rs 19,000 crore dividend from oil companies

Company executives say the demand is being made even though profits have have fallen from last year.

Interministerial talks on gas sector reforms begin

The petroleum and natural gas ministry has begun interministerial consultations on its proposal to end the power sector's priority access to cheap domestic gas, setting up a gas trading platform and hiving off GAIL's pipeline business into a subsidiary.

View: There’s a new fight in an old, turbulent region, where India has to do business with all

India, for its part, will have to reconcile Iranian regional ambitions with a repackaged US idea of global power.

RIL may get new MD before April 1; Manoj Modi, Meswanis among probables

SEBI has mandated to separate the roles of chairman and MD of all listed entitled by April 1.

Fuel prices cut for second straight day on Monday

Fuel prices cut for second straight day on Monday

Good news for consumers as fuel prices fell again on Monday, the second consecutive day after easing of tensions between the US and Iran. Price of petrol fell by 10 paise and that of diesel by 5 paise a litre across all major cities on Monday.

IEA slams India's gas pricing policy, says it reduces incentives for producers to raise supply

IEA slams India's gas pricing policy, says it reduces incentives for producers to raise supply

The country's current practices have reduced incentives for producers to raise supplies, it said.

US-Iran tensions: No dearth of crude oil in global market, says Dharmendra Pradhan

US-Iran tensions: No dearth of crude oil in global market, says Dharmendra Pradhan

Union Minister of Petroleum and Natural Gas, Dharmendra Pradhan said on January 11 that there is no dearth of crude oil in global market. "There's no dearth of crude oil in global market. We're taking it from OPEC, OPEC+, non-OPEC countries. Issue is - price. We're appealing to oil producing countries and responsible leaderships that there should be peace and stability in global economy," said the minister. "Due to geopolitical situation, conflict in Middle East there was a spike in price of crude oil. It's subdued in last 2 weeks. Let's wait and watch, let's not create panic. Things are under control. Government has kept a sharp eye on global development," he further added.

60 per cent of IGGL would be funded by Centre: Assam Industries Minister Chandra Mohan Patowary

60 per cent of IGGL would be funded by Centre: Assam Industries Minister Chandra Mohan Patowary

He told a press conference here that the rest Rs 3,706 crore shall be funded by five oil-sector public sector undertakings - IOCL, ONGC, GAIL, OIL and NRL. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi on January 8 had approved Viability Gap Funding/ Capital Grant of 60 per cent for the IGGL project.

HC seeks Centre's reply on RIL plea to recall orders asking it to disclose assets

HC seeks Centre's reply on RIL plea to recall orders asking it to disclose assets

Justice J R Midha issued notice to the central government on RIL's application and listed the matter for hearing on February 6. The application was filed in a pending petition of the government for execution of an arbitral award in its favour. RIL has sought recall of two previous orders of November 22 and December 20, 2019.

Iran-US conflict: Expect energy prices to remain reasonable, says Dharmendra Pradhan

Iran-US conflict: Expect energy prices to remain reasonable, says Dharmendra Pradhan

Union Petroleum Minister Dharmendra Pradhan spoke on Iran-US tensions and its after-effects on oil prices. He said, “India expects that there should be no tension in the world. The External Affairs Minister of India has been speaking to all the stakeholders.

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