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ONGC on Thursday reported a 8.2 per cent drop in its June quarter net profit after sharp reduction in natural gas rates.

ONGC plans to raise oil output by 4 million tonne by 2020

India spend almost USD 1 trillion on crude imports from financial year 2005-06 to 2015-16.

22 Oct 2017 5:52 AM GMT

Mr Putin said he expected the world oil market soon to be balanced.

Oil drilling rigs import exempt from GST to boost local output

Petrol, diesel, jet fuel (ATF), natural gas and crude oil have been kept out of the GST regime.

11 Oct 2017 8:47 AM GMT

Organization of the Petroleum Exporting Countries President Suhail al-Mazrouei. (Photo: ANI)

Do not blame OPEC, oil producer group says of Trump criticism

Global oil prices LCOc1 have climbed steadily this year, helped by rising demand, and topped $80 per barrel in May.

10 July 2018 5:17 AM GMT

Oil climbs as suppliers stick to output cuts, coronavirus lockdowns ease. (AFP Photo)

Oil climbs as suppliers stick to output cuts, coronavirus lockdowns...

OPEC+ countries are set to meet again in early June to discuss maintaining their supply cuts to shore up prices

26 May 2020 3:12 AM GMT

Saudi Aramco, the worlds top oil company which is preparing to go public, said on Sunday it has appointed new members to its board including a female executive.

OPEC, non-OPEC discuss around 1 mn bpd oil output rise: sources

OPEC and non-OPEC ministers meet next in Vienna on June 22-23, and the final decision will be taken there.

25 May 2018 8:19 AM GMT

European oil firms jumped more than two per cent on the oil surge and helped the pan-regional STOXX50 index add 0.2 per cent, having just had its best week in exactly five years.

OPEC 'confident' countries to meet oil output cuts

Crude oil sold for over $100 a barrel in summer of 2014, before bottoming out below $30 a barrel in Jan 2016.

12 Jan 2017 8:55 AM GMT

Heads of prominent oil manufacturing firms in the country such as HPCL, IOC and BPCL have agreed to the scheme and issued circulars to dealers about it.

Global oil supplies up, but OPEC abides by output cut: IEA

In November last year, OPEC countries had agreed to cut output by 1.2 bpd from January 1.

15 March 2017 10:14 AM GMT

Essar oil reports 10 per cent rise in oil throughput

Essar Oil has invested in a series of upgrades and modifications at the 20 million tonne Vadinar refinery to maximise...

7 April 2017 11:52 AM GMT