Oil

Saturday, Apr 20, 2024 | Last Update : 01:57 AM IST

Oil hits three-month high over hopes for output cuts

OPEC countries including Russia may extend production cuts of 9.7 million barrels per day, or about 10% of global output into July or August

03 Jun 2020 11:35 AM

Oil prices fell in early Asian trading on Wednesday . (AFP Photo)

Oil falls amid concerns about second wave of virus, rise in inventories

Traders shrugged off a further call by Saudi Arabia for larger production cuts to balance the market following a virus-induced demand slump

13 May 2020 8:29 AM

Petrol sales down 61%, diesel 56.5% in April. (PTI Photo)

Petrol and diesel sales shrink in April; demand expected to pick up this month

The demand is expected to further pick up as more areas were opened up on Monday

04 May 2020 4:11 PM

Brent crude LCOc1 was down 37 cents, or 0.6 per cent, to USD 58.95.

Oil falls for sixth day as China virus raises global growth, demand concerns

Oil investors are concerned travel advisories, other restrictions and any sizable impact on growth.

28 Jan 2020 11:41 AM

Indian economy is and will become even more exposed to risks of supply disruptions, geopolitical uncertainties and the volatility of oil prices.

India's oil demand growth set to overtake China by mid-2020s: IEA

India’s oil demand is expected to reach 6 million barrels per day (bpd) by 2024 from 4.4 million bpd in 2017.

10 Jan 2020 11:38 AM

Brent crude futures rose 55 cents, or 0.8 per cent, to USD 65.99 a barrel by 0109 GMT after tumbling 4.1 per cent on Wednesday.

Oil edges up after plunge, as market recovers poise

US oil added 61 cents, or 1 per cent, to USD 60.22 after falling nearly 5 per cent in the previous session.

09 Jan 2020 9:59 AM

Saudi state oil giant Aramco will sell 0.5 per cent of its shares to individual retail investors and the government will have a lockup period of a year on further share sales after the initial public offering, its prospectus said on Saturday. (Photo: File)

'Risk of terrorist attacks...': Saudi Aramco prospectus flags risks, gives few details on IPO size

Sources have said the company could sell 1 per cent-2 per cent on the Saudi stock market in what could be the world's largest listing.

10 Nov 2019 12:27 PM

India will secure capital, world-class technology and implement any policy reforms needed to become an international energy leader, Petroleum minister Dharmendra Pradhan said at an energy conference in New Delhi. (Photo: File)

India seeks foreign investments in oil and gas sector: Pradhan

India wants to be the new destination for global energy players, said oil minister Dharmendra Pradhan.

07 Nov 2019 12:21 PM

This makes it imperative to ensure energy justice to all, which essentially means access to energy in an affordable and sustainable manner, said Oil Minister Dharmendra Pradhan. (Photo: File)

India to chart is own course of energy transition: Pradhan

Per capita energy consumption in India is only about one-third of the world's average.

15 Oct 2019 1:24 PM

Witnessed the exchange of a MoU between ONGC and ExxonMobil to identify areas for exploration in deep water in east and west coast of India, Oil Minister Dharmendra Pradhan said in a tweet. (Photo: File)

Energy giant Exxon Mobil, India's ONGC sign expertise-sharing deal

A growing demand in India amid a global slowdown and government policies have made investments and returns attractive.

15 Oct 2019 12:21 PM

Total will buy up to 25.2 per cent in Adani Gas from public shareholders at 149.63 rupees per share, representing an 8.7 per cent premium to the stock’s last close and valuing the stake at 41.47 billion rupees (USD 585 million). It will also buy another 12.2 per cent stake from the Adani family at an undisclosed price, according to stock exchange filings.

Energy giant Total to buy 37 per cent stake in Adani Gas

Total is the third foreign oil major to enter India’s gas sector after BP Plc and Shell.

14 Oct 2019 3:29 PM

Oil minister Dharmendra Pradhan said energy is integral to achieving the target of early doubling the size of Indian economy to USD 5 trillion by 2024. (Photo: File)

USD 60 billion investment coming in gas infrastructure: Pradhan

Govt is giving special impetus to develop gas infrastructure across the length and breadth of the country, said the Oil Minister.

13 Oct 2019 6:25 PM

Beijing slams US sanctions on Chinese firms over Iran oil

'It is a gross violation of the basic norms of international relations,' foreign ministry spokesman Geng Shuang said.

26 Sep 2019 4:13 PM

Saudi Arabia has restored more than 75 per cent of crude output lost after attacks on its facilities and will return to full volumes by early next week, a source briefed on the latest developments has said. (Photo: File)

Saudi Arabia restores over 75 pc oil output, will return to full volume by next week

Thousands of employees and contractors have been pulled from other projects to work around the clock in bringing production back.

24 Sep 2019 8:53 AM

Crude prices surged by nearly 20 per cent on Monday as they responded to Saturday’s attack.

Oil falls more than 1 pc as market awaits response to Saudi oil attacks

The company has not given a specific timeline for the resumption of full output.

17 Sep 2019 10:33 AM

Following the attacks on the oil stablization centres of @Saudi_Aramco, top executives of Aramco have been contacted, tweeted Oil Minister Dharmendra Pradhan. (Photo: File)

Saudi assures India of no oil supply shortage: Oil Min

A massive drone strike on the world's largest crude-processing facility operated by Saudi Arabia's Aramco has driven up oil prices.

16 Sep 2019 7:17 PM

Yemen rebels claim drone attack on Saudi oil sites. (Photo: AFP)

Can't put blame for Saudi drone attacks without ascertaining facts: China

Drones claimed by Yemen's Houthi rebels attacked the world's largest oil processing facility in Saudi Arabia.

16 Sep 2019 2:49 PM

Oil prices surged more than 10 per cent Monday after attacks on two Saudi Arabian plants that slashed output in the world's top producer by half, with Donald Trump blaming Iran and raising the possibility of a military strike on the country. (Photo: File)

Oil prices soar over 10 pc after drone attacks in Saudi cut output by half

Brent soared almost 20 per cent at one point on Monday, while WTI surged around 15 per cent before paring the gains.

16 Sep 2019 9:31 AM

President Donald Trump said Sunday the US is "locked and loaded" to respond to an attack on Saudi oil infrastructure that Washington has blamed on Iran, as Riyadh raced to restart operations at plants hit by drone attacks. (Photo: File)

Trump says US 'locked and loaded' to respond to Saudi oil attack

Saudi Arabia has spent billions on military hardware but recent events have underscored the vulnerability of its infrastructure to attack.

16 Sep 2019 8:01 AM

Saudi Arabia's return to its full oil supply capacity after Saturday's attacks on Aramco oil plants could take "weeks not days", a source close to the matter told Reuters on Sunday. (Photo: File)

After attacks, Saudi full oil supply may take weeks to resume: report

The attacks in Abqaiq and Khurais knocked down some 5.7 million barrels per day.

15 Sep 2019 3:07 PM

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Shobhaa De

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