IOC to make first ever crude oil purchase from US this year
The official said IOC had last month sealed a deal to import 1.6 million barrels of crude from the US for delivery in the first week of October at its Paradip refinery in Odisha -- the first ever such purchase of US crude by an Indian state-run refiner.
Aug 10, 2017, 14:35 PM IST
HPCL Q1 net profit dips 56% on lower margins
The company earned USD 5.86 on turning every barrel of crude oil into fuel during April-June, 2017-18 as compared to a gross refining margin of USD 6.83 per barrel in the same period of 2016-17, he said.
Aug 04, 2017, 17:49 PM IST
31 held as syndicate that stole oil worth crores from Cairn India's oildfield busted
The Rajasthan police have claimed to have busted an inter-state syndicate that allegedly stole crude oil worth crores of rupees from Cairn India's oilfield.
Jul 23, 2017, 23:11 PM IST
India buys first ever US crude oil, to step up purchases
The purchase comes after Indian Prime Minister Narendra Modi`s visit to the US in June when President Donald Trump said his country looked forward to exporting more energy products to India.
Jul 10, 2017, 12:32 PM IST
Oil languishes near multi-month lows on glut fears
Oil prices held near multi-month lows on Wednesday as investors discounted evidence of strong compliance by OPEC and non-OPEC oil producers with a deal to cut a global output.
Jun 21, 2017, 13:01 PM IST
OPEC set to prolong oil output cuts by nine months
OPEC is likely to extend production cuts for another nine months, ministers and delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude.
May 24, 2017, 11:07 AM IST
China's April trade growth slows as commodities, electronics demand cools
China`s April imports rose 11.9 percent, cooling from March`s 20.3 percent rise, official data showed on Monday, and missing analysts` expectations for an 18 percent rise.
May 08, 2017, 14:30 PM IST
Oil prices claw back some losses, but oversupply still weighs
US gasoline stocks posted a counter-seasonal build of 1.5 million barrels, because of rising refining activity.
Apr 20, 2017, 11:03 AM IST
Core sector growth slows down to 1% in February
The growth of eight core sectors slowed down to 1 percent in February mainly due to contraction in output of crude oil, natural gas, refinery products, fertiliser and cement.
Mar 31, 2017, 17:39 PM IST
Oil slips towards $50 on doubts over duration of output cut
Oil fell further towards $50 a barrel on Monday, pressured by uncertainty over whether an OPEC-led production cut will be extended beyond June in an effort to counter a glut of crude.
Mar 27, 2017, 17:30 PM IST
ONGC takes $239 million hit from royalty payments
Oil and Natural Gas Corp will take a 16 billion rupee ($239 million) hit to its quarterly earnings to account for previous royalty payments to two states.
Feb 21, 2017, 23:13 PM IST
Iran becomes 3rd largest oil supplier for India
Iran has zipped past the likes of Venezuela and Nigeria to become India's third largest oil supplier as easing western sanctions enabled Indian companies to increase purchases from that country.
Feb 15, 2017, 19:15 PM IST
Oil dips over doubts high OPEC compliance with agreed cuts will last
Oil prices dipped on Wednesday over concerns that OPEC producers would not be able to maintain their high compliance so far with output cuts aimed at reining in a global fuel supply overhang.
Feb 15, 2017, 12:24 PM IST
OPEC countries complying with agreed output cuts: IEA
OPEC countries are largely complying with a landmark deal to reduce the global oil glut, the IEA said Friday, as it predicted that oil demand was likely to be more vigorous than anticipated this year.
Feb 10, 2017, 19:24 PM IST
Iraq has cut 180,000 bpd as part of OPEC oil deal: Minister
Iraq has reduced its oil production by around 180,000 barrels per day and plans to cut a further 30,000 bpd before the end of the month, the OPEC member`s oil minister said on Monday.
Jan 23, 2017, 18:16 PM IST
Oil hits 18-month high as markets eye output cuts
Benchmark Brent crude jumped more than 2 percent to a high of $58.37, up $1.55 a barrel and its highest since July 2015.
Jan 03, 2017, 15:35 PM IST
Petrol price hiked by Rs 2.21 per litre, diesel by Rs 1.79 a litre
Petrol price was on Friday hiked by Rs 2.21 per litre and diesel by Rs 1.79 a litre in line with global trends.
Dec 16, 2016, 20:48 PM IST
Big News : OPEC decides to reduce its oil production
OPEC decides to reduce its oil production. Watch complete news story of News 360 for getting detailed updates!
Dec 01, 2016, 13:15 PM IST
Oil prices jump 8% as OPEC agrees first production cut since 2008
Oil prices jumped more than 8 percent on Wednesday to a five-week high as some of the world`s largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices.
Nov 30, 2016, 19:03 PM IST
Oil prices decline on US inventory surge
Oil prices declined on Wednesday in volatile trading as the US reported a 7.7-per cent increase of crude oil inventories.
Nov 17, 2016, 02:52 AM IST