On May 11, 2016 18:47 (IST)
Iran has ended free shipping of crude oil to India and has asked refiners like Mangalore Refineries (MRPL) and Essar Oil to arrange for freight, Oil Minister Dharmendra Pradhan said on Wednesday.
On May 09, 2016 15:24 (IST)
Prices of petrol have been reduced 32 times and increased 21 times whereas diesel rates slashed 19 times and raised 28 times since April 1, 2013, Commerce Minister Nirmala Sitharaman said on Monday.
On May 08, 2016 17:24 (IST)
Saudi Arabia's new energy minister on Sunday pledged to maintain the kingdom's oil policy, after being named in a major government overhaul.
On May 06, 2016 17:53 (IST)
The central banks of India and Iran have reached an arrangement to use European banks to process pending oil payments to Tehran, India's Oil Minister Dharmendra Pradhan told Reuters, unlocking $6.4 billion in stalled funds.
On May 06, 2016 13:55 (IST)
India plans to shift to a gas-based economy by boosting domestic production and buying cheap liquefied natural gas (LNG) as the world's third-biggest oil importer seeks to curb its greenhouse emissions, oil minister Dharmendra Pradhan said.
On May 04, 2016 14:28 (IST)
Government has saved over Rs 21,000 crore in cooking gas LPG subisdy in the last two financial years as paying the dole directly into bank accounts of actual users helped eliminate duplicate connections as well as diversions, Oil Minister Dharmendra Pradhan said on Wednesday.
On May 03, 2016 10:59 (IST)
The revision in LNG agreement with Qatar has helped bring down cost of importing natural gas to less than $5 per mmBtu from $12, Oil Minister Dharmendra Pradhan said on Monday.
On May 02, 2016 16:04 (IST)
Government will not succumb to any pressure in resolving pending arbitration disputes with companies such as Reliance Industries over KG-D6 gas fields, Oil Minister Dharmendra Pradhan said in Rajya Sabha on Monday.
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.