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OPEC countries, Russia to cut oil output, pushing up prices

The group decided to cut output by an extra 500,000 barrels a day as they try to support the price of energy and bolster their revenues. But the decision was not easy: they do not want to hand over too much business to the United States, which keeps pumping more oil and flooding the market.

OPEC and allies prepare to deepen oil output cuts

The Organization of the Petroleum Exporting Countries (OPEC) meets on Thursday in Vienna and with Russia and others, a grouping known as OPEC+, on Friday.

Why diesel demand is contracting in India

India's demand for diesel is slowing as the country's car fleet shifts predominantly to petrol, trucks get more efficient and solar pumps displace diesel-fed units across the countryside.The combination of these changes has led analysts to speculate that diesel demand growth in the world's third-largest crude oil consumer may have peaked, with significant repercussions for the firms that produce and sell the fuel.

Dharmendra Pradhan hopes coming Budget will signal inclusion of ATF, natural gas in GST

When the Goods and Services Tax (GST) was introduced on July 1, 2017 amalgamating 17 central and state levies, five commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of its purview given the revenue dependence of state governments on this sector.

Natural gas consumption to rise 3-folds in 10 yrs for 15% target: Pradhan

Natural gas currently makes up for 6.2 per cent of all energy consumed in the country. To cut dependence on coal and liquid fuels, the govt is targeting its share to rise to 15% by 2020-30. "Gas consumption has to rise to 600 million standard cubic metres per day for achieving 15 per cent share in energy basket" from current levels of 166 mmscmd, he said.

India's Petronet LNG says in talks with several firms on deals

Mishra said Petronet is in the process of appointing a consultant to help guide the company to sign deals to buy LNG from overseas suppliers

After CAG expose, government asks oil companies to recover Rs 108 crore from staff

The ministry has informed the CAG that it has examined the matter in consultation with IOC and BPCL and directed both companies to recover the “unauthorised” payments made to their employees. The two companies have been asked to furnish action taken report on the matter.

Govt says no proposal to reduce taxes on petrol, diesel

Sitharaman has also clarified that currently no new tax on petrol and diesel is being considered.

How booze may not let India cut its dependence on foreign oil

The mandate to supply molasses to liquor industry can derail India's plan to use sugarcane ethanol as fuel.

Fake websites offering petrol pump licences under scanner

While the licensing process by a joint website petrolpumpdealerchayan.in, of three state-run oil companies, Indian Oil, HPCL and BPCL is underway, some people have put up fake websites that closely imitates the content, design and the domain name of the original, and promise new pump licenses.

Government appoints Deloitte as advisor for BPCL stake sale

The government approved the strategic disinvestment in BPCL last week, along with transfer of management control, but excluding the stake in Numaligarh Refinery, which will be carved out of BPCL before privatisation. Completion of the stake sale could help the government mobilise more than Rs 60,000 crore, or $8.4 billion, and narrow the fiscal deficit.

CCI approves 37.4 pc stake-buy, joint control of Adani Gas by Total Group

CCI approves 37.4 pc stake-buy, joint control of Adani Gas by Total Group

"Total Group believes in the initiatives taken by the Government of India to increase the reliance on natural gas instead of petroleum-based products," the Competition Commission of India (CCI) noted.

What Makes Piped Cooking Gas So User-Friendly?

What Makes Piped Cooking Gas So User-Friendly?

Decoding the Trend behind Its Growing Use

HPCL gets aboard Infibeam Avenues’ BillAvenue Platform for LPG gas bookings

HPCL gets aboard Infibeam Avenues’ BillAvenue Platform for LPG gas bookings

BillAvenue is unified, interoperable online bill payments platform built on the Bharat BillPay System (BBPS) infrastructure developed by National Payments Corporation of India (NPCI). BBPS AR Ramesh said, "The Bharat BillPay System launched by NPCI has revolutionized the way bill payments of electricity, gas, water, telecom and DTH are done."

Minimum 100 petrol pumps, 5% in remote areas: India's new liberalised fuel retail policy

Minimum 100 petrol pumps, 5% in remote areas: India's new liberalised fuel retail policy

The government had last month relaxed norms for setting up petrol pumps.

Gulf Oil joins hands with Piaggio for co-branded lubricants for commercial vehicles

Gulf Oil joins hands with Piaggio for co-branded lubricants for commercial vehicles

Gulf Oil Lubricants join hands with Piaggio Vehicles to market co-branded lubricants for commercial vehicles, starting January. The partnership will cater to factory fill, franchisee workshops (FWS), high street and exports segments. The company is also confident that this partnership will give better service levels to its channel partners

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