On April 25, 2016 16:33 (IST)
Saudi Aramco's expansion into refineries in major markets help guarantee demand for its crude oil exports amid intensifying global competition.
On April 13, 2016 14:52 (IST)
India's fuel demand surged to its highest level in at least 15 years in the fiscal year ended March, driven by growing appetite for gasoline-guzzling vehicles and a boost in mining and manufacturing activity.
On April 10, 2016 17:46 (IST)
Stepping up its energy ties with Iran, India has lined up $20 billion as investment in oil and gas as well as petrochemical and fertiliser projects in the Persian Gulf country subject to provision of concessional rights.
On April 09, 2016 15:05 (IST)
Iran is exporting around 350,000 barrels of crude oil a day to India, Oil Minister Bijan Zanganeh was quoted as saying on Saturday after meeting Indian counterpart Dharmendra Pradhan.
On April 07, 2016 18:58 (IST)
Even if oil prices move a little higher, they will not be negative for India but "exceedingly high" rates create problems for the country, Finance Minister Arun Jaitley said on Thursday.
On March 15, 2016 16:00 (IST)
State-run Air India is eyeing its first operating profit since 2007-08, when it merged with Indian Airlines. The national carrier's best operating performance in eight years comes at a time when crude oil prices have fallen sharply. Crude oil accounts for 40 to 50 per cent of airlines' operating expense.
On March 15, 2016 09:47 (IST)
Under attack for not passing on benefits of fall in crude prices to consumers, Finance Minister Arun Jaitley on Monday said the savings are being used for developing infrastructure to push growth and create jobs besides enabling oil marketing companies meet their losses that once stood at Rs 30,000 crore.
On March 11, 2016 20:05 (IST)
Oil minister Dharmendra Pradhan said on Friday that the country is in talks with the UAE and a few more countries for an oil-for-food programme.
On March 10, 2016 17:42 (IST)
With the current rates, the gas price will come to $7/million British thermal unit.
On February 29, 2016 18:38 (IST)
Government will provide five crore LPG connections on a concessional rate to below poverty line (BPL) families over three years till 2018-19, Oil Minister Dharmendra Pradhan said today.
On February 23, 2016 21:27 (IST)
Wall Street slipped on Tuesday, in tandem with a renewed slide in oil prices, as yet another rally failed to take off in what has been a turbulent year so far for markets.
On February 20, 2016 20:14 (IST)
Consultations on a preliminary deal between leading oil producers to freeze output should be concluded by March 1 after a group led by Russia and Saudi Arabia reached a common position this week in Doha, Russia's energy minister said.
On February 19, 2016 18:50 (IST)
Russia's First Deputy Energy Minister Alexey Texler said on Friday that the global oil market was over supplied by 1.8 million barrels per day, but that half of that glut could disappear if an output freeze deal worked.
On February 15, 2016 17:25 (IST)
The Petroleum Ministry will shortly move a Cabinet note on crude import policy that will allow the country to do away with tendering and begin spot purchases.
On February 12, 2016 16:04 (IST)
Oil prices jumped on Friday on hopes of a coordinated production cut sparked by comments from the energy minister of OPEC (Organization of Petroleum Exporting Countries) member United Arab Emirates.
On February 12, 2016 09:57 (IST)
Crude oil prices jumped more than 5 per cent on Friday after comments by an OPEC energy minister sparked hopes of a coordinated production cut, yet analysts said such a move remained unlikely and that oversupply would persist.
On February 04, 2016 15:01 (IST)
Strategic reserves are underground rock caverns used to store crude oil.
On February 03, 2016 15:28 (IST)
Amid global uncertainty, Finance Minister Arun Jaitley on Wednesday said it is important for India to emerge out of the crisis stronger as it is on a much higher and stabler footing than other nations.
On January 30, 2016 13:43 (IST)
Stressing on making the most of the favourable low commodity prices, Finance Minister Arun Jaitley on Saturday said the country will have to become a low cost manufacturing hub for success of the government's Make in India programme.
On January 26, 2016 13:51 (IST)
Public sector oil firms IOC, BPCL, HPCL and EIL will invest Rs 1.5 lakh crore in setting India's biggest refinery on the west coast, Oil Minister Dharmendra Pradhan said.