Shri Pradhan said that under Mission Purvodaya, we are building an Integrated Steel Hub in eastern India which would add to the competitiveness of the steel sector and facilitate regional development with job creation. Image Credit: Twitter(@PrakashJavdekar) Union Minister of Petroleum & Natural Gas and Steel Shri Dharmendra Pradhan today said that ‘Aatmanirbhar Bharat’…
The disinvestment process of Bharat Petroleum Corporation Ltd has moved on to the second phase, with the government having received “multiple” expressions of interest for its 52.98% stake in the country’s second largest fuel retailer. We examine the state of the disinvestment process of BPCL, which is a key component of the government’s plans…
Pradhan was speaking at an online event where he laid the foundation stone for 50 new LNG retail outlets along the golden quadrilateral and other major national highways. Pradhan said that LNG is going to be the fuel of the future for transport, and in this regard, retro-fitting of the vehicles as well as…
Metal baron Anil Agarwal has upped the ante in oil sector with submission of expression of interest (EoI) for BPCL. Agarwal’s move comes while Reliance Industries Chairman Mukesh Ambani soft pedals the game in fossil fuel. Agarwal has a high chance of winning the race for BPCL since the government has received just three…
MUMBAI – Crude oil prices in India and abroad reversed early losses and rose today as investors were optimistic that the Organization of the Petroleum Exporting Countries and allies may extend the current output cuts beyond Dec 31. The dollar’s weakness against a basket of major currencies also supported prices. A weaker dollar makes…
Oil prices firmed on Wednesday on hopes OPEC and its allies will delay a planned increase in oil output and after Pfizer said its COVID-19 vaccine was more effective than previously reported.Brent crude rose 64 cents, or 1.5%, to $44.39 a barrel by 1444 GMT, while U.S. West Texas Intermediate crude gained 43 cents,…
SINGAPORE/BEIJING- China’s commercial oil stockpiling sector, which emerged as a key swing buyer of crude as prices plunged earlier this year, is setting plans to grow again in 2021, supporting a further boost in imports. Private tank farm operators, refiners and traders pumped an extra 310-600 million barrels of oil into storage in China…
Moscow- The BRICS nations have maintained “intensive contacts” for the development of an Energy Research Cooperation Platform, said Russian President Vladimir Putin, adding that reports have already been prepared for the development of the fuel and energy sectors in the BRICS countries until 2040. Speaking during BRICS virtual summit on Tuesday, Putin said- “Intensive…
OPEC has suffered immensely under the pandemic and subsequent oil demand loss, and its job could now become significantly more challenging as members mull the pros of staying with the group against the con of performing the dutiful and painful task of curbing production. And the UAE is said to be doing just that.…
The State Oil Marketing Organization sent a note to customers on Nov. 17 with “test reports” of Basrah Light, Basrah Medium and Basrah Heavy. A senior official representative at SOMO confirmed the new crude specifications with Platts. The new grade, Basrah Medium, will have a specific gravity of around 27.9 API with a sulfur…
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