State-owned Oil India Limited (OIL) said its acquisition of shares of BPCL-owned Numaligarh Refinery Ltd (NRL) in Assam would be a synergy for mutual growth, ensure energy security of the nation, besides partially mitigating the effect of volatility of crude price cycle. On 25 March 2021, Bharat Petroleum Corporation Ltd (BPCL) sold its entire 61.5 per cent […]
Natural gas production in member nations of the Organisation for Econonic Co-Operation and Development fell by 3.2% on year in January, according to the International Energy Agency (IEA). The fall was led by the United States, where production declined by 2.8% amid the Covid outbreak. Production of European members fell by 5.9% mostly due to […]
Natural gas production remains a loss-making proposition for most fields for the Indian upstream producers as government-dictated gas price remains at its lowest level, rating agency ICRA said. The domestic gas price notified at US $1.79 per million British thermal unit for the six months beginning April 1 remains the lowest since the institution of […]
Government-fixed price for natural gas produced by companies such as ONGC is likely to inch up marginally to $1.82 per million British thermal unit (mmBTu) next week while the same for difficult fields like one operated by Reliance-BP may fall below $4 a mmBTu. The price of natural gas explored from fields and river basins, which is […]
India’s tax collections on petrol and diesel have jumped over 300 per cent in the last six years as excise duty on the two fuels was hiked, the Lok Sabha was informed. The collections on petrol and diesel rose to Rs 2.94 lakh crore in the first 10 months of the current fiscal (2020-21), according […]
Despite record-high fuel prices, India’s Finance Minister Nirmala Sitharaman said there is no proposal as of now to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST). “At present, there is no proposal to bring crude petroleum, petrol, diesel, ATF and natural gas under GST,” Sitharaman […]
State-owned ONGC has seen its contribution to the national production jump to over 70 per cent from under 53 per cent a decade back, petroleum ministry data showed. While Oil and Natural Gas Corporation (ONGC) maintained production levels, output by other operators has dropped, leading to an overall fall in India’s output and a sharp rise in import […]
Price of domestic cooking gas, LPG has doubled to Rs 819 per cylinder in the last seven years while the increase in taxes on petrol and diesel has fattened collections by over 459 per cent, Oil Minister Dharmendra Pradhan said in Parliament. In written replies to a spate of questions on rising fuel prices in […]
Natural gas production in Texas collapsed by 45 per cent during the cold snap last week, primarily due to freeze-offs, the Energy Information Administration (EIA) said, citing estimates from IHS Markit. Natural gas production in Texas dropped to a daily low of 11.8 billion cubic feet per day (Bcf/d) on February 17, down by nearly 45 […]
Reliance Industries Ltd sought bids from buyers of coal gas it produces from coal bed methane (CBM) blocks in Madhya Pradesh at a minimum price of about USD 6 per mmBtU (million British thermal unit) at the current oil price. Reliance sought bids for 0.82 million standard cubic meters per day of gas from the Sohagpur […]
