Crude Oil
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No respite to common man despite fuel price cuts
News | Oct 07, 2018, 11:10 AM ISTThe revised rates of petrol in Delhi stood at Rs 81.82/litre and Rs 73.53/litre respectively.
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Rupee falls 33 paise to 72.96 against US dollar
Business | Sep 25, 2018, 10:09 AM ISTOn Monday, the local currency had ended sharply lower by 43 paise to 72.63 against the US dollar.
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Fuel prices hike again; Petrol nears Rs 90 mark in Mumbai
News | Sep 16, 2018, 02:47 PM ISTFuel prices continued to skyrocket yet again on Sunday. Petrol, diesel prices were hiked by 28 paise per litre and 18 paise per litre respectively in Delhi.
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Need to propel biofuel production to curb crude oil imports: Nitin Gadkari
India | Sep 14, 2018, 04:55 PM ISTGadkari said if biofuel could also cut on India’s huge aviation fuel imports, and if “we could save Rs 30,000 crore spent now” through innovation and technology, it would be a great contribution to country’s economic health.
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Will take steps to ensure energy security not comprised: MEA on oil import from Iran
India | Jun 28, 2018, 06:11 PM ISTThe US has told India and other countries to cut oil imports from Iran to "zero" by November 4 or face sanctions, making it clear that there would be no waivers to anyone.
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Cut oil imports from Iran to 'zero' by Nov 4 or face sanctions: US to India, other countries
Business | Jun 27, 2018, 04:31 PM ISTA US state department official said that the US has told all countries, including India and China, to stop all their imports of Iranian oil by November 4.
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AIIB 2018 meet in Mumbai: No spike in inflation due to rising crude prices, says PM Modi
Business | Jun 26, 2018, 12:57 PM ISTArguing that BJP-led government was committed to fiscal consolidation, PM Modi said that the rising crude prices have not resulted in a spike in inflation and the macroeconomic fundamentals of the country remain strong.
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Core sector growth hits 6-month high of 5.2% in September
Business | Oct 31, 2017, 11:06 PM ISTEight core sectors grew to a six-month high of 5.2 per cent in September, helped by a robust performance in coal, natural gas and refinery segments, official data showed on Tuesday.
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PM Modi brainstorms with top global, Indian oil chiefs to revive investment, production
Business | Oct 09, 2017, 03:29 PM ISTThe main theme of the meeting, sources said, was to seek investment in exploration and production, processing, transportation and distribution network in oil and gas
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OPEC should go for 'responsible pricing': Dharmendra Pradhan
Business | Oct 08, 2017, 09:22 PM ISTIndia today pressed oil cartel OPEC to adopt "responsible pricing" for oil and consider the world's third-biggest oil consumer as its preferred sales destination
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PM Modi's oil diplomacy: India's move to import crude from US significant, may ignite price war
Business | Oct 03, 2017, 05:00 PM ISTThe arrival of the first shipment of crude oil from US signals India's shift from dependence on supplying nations like Iraq and Saudi Arabia.
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Petroleum products top list as India’s exports grow for 12th consecutive month in August
Business | Oct 03, 2017, 04:17 PM ISTIndia's imports also increased by 21.02 per cent to $35.46 billion from $29.30 billion in August last year.
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India receives first-ever shipment of US crude oil at Odisha's Paradip Port
Business | Oct 02, 2017, 04:44 PM ISTIndia on monday received its first ever shipment of US crude oil with state-owned Indian Oil Corp (IOC) importing a 1.6 million barrels parcel at Paradip in Odisha
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3-year-high petrol and diesel prices may come down in October
Sep 19, 2017, 05:18 PM ISTThe opposition parties have blamed that the high tax burden on these fuels and asked the government to take immediate steps to bring down the rising petrol and diesel prices to give relief to the consumers.
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Petrol prices up Rs 7 after dynamic pricing: What explains this massive increase in just over two months?
Sep 18, 2017, 12:33 PM ISTThere has been a sharp increase in petrol prices in Delhi in two months since the government introduced dynamic pricing on June 16
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Crude oil opens new vistas in India-US relationship
Aug 17, 2017, 01:28 PM ISTWith the first shipment of American crude oil set to reach the country by September end, India joins Asian countries like S Korea, Japan and China to buy American crude after production cuts by OPEC
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Iran says 'not obliged to give Farzad-B gas field deal to India'
World | Jul 31, 2017, 07:00 AM ISTIran also highlighted India’s threat to import less crude oil from it, with its Parliament Energy Commission chief saying that Iran could find other customers for its oil
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Amid global price slump, India saw 50 per cent drop in crude oil import bill in 2015-16
Apr 21, 2016, 02:56 PM ISTGlobal slump in oil prices has resulted in India’s crude oil import bill dipping to almost half to $64 billion in 2015-16 fiscal.
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First time in 15 years, Saudi Arabia seeks Rs 66k crore in foreign loan: report
World | Apr 20, 2016, 05:50 PM ISTFaced with an unprecedented economic crunch over its dipping oil revenues, Saudi Arabia has reached an agreement with foreign banks for a $10 billion (Rs 66,200 crore) loan to bridge the gap in its state finances, a media report citing people privy t
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Crude oil tumbles below $30 for first time in 12 years
Jan 13, 2016, 09:49 AM ISTNew York: US crude prices fell below $30 a barrel for the first time in 12 years on Tuesday as OPEC member Nigeria called for an emergency meeting to address collapsing prices. New York's benchmark West