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Manipur blockade: Centre to dispatch 100 trucks containing petroleum products today

The Ministry of Home Affairs has been making repeated efforts to find a way to have the NH-2 opened.

India will soon be zero petroleum import country: Nitin Gadkari

India will soon be zero petroleum import country: Nitin Gadkari

With the Centre focusing more on developing alternative fuel economy, India will soon stop importing petroleum products, Union Minister Nitin Gadkari said Tuesday.

Researchers produce renewable fuel from bio-oil

In a first, researchers have produced renewable fuel from pyrolysis bio-oil, a synthetic fuel being considered a substitute for petroleum.

Nepal planning to airlift fuel following India's unofficial blockage

Nepal is planning to airlift fuel from other countries following a halt in supply of petroleum products by southern neighbor India some two weeks ago.

US oil jumps more than 10% to $42.56 a barrel

US oil prices surged more than 10 percent Thursday, climbing back above $40 a barrel after strong American economic growth data lifted confidence about the world`s biggest economy and petroleum user.

HPCL Q4 net profit surges 58% to Rs 2,162 crore

State-owned Hindustan Petroleum Corp Ltd (HPCL) Thursday reported a 58 percent jump in its March quarter net profit on back of higher refining margin.

Global crude oil price of Indian basket falls to $47.36/barrel

The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, fell to USD 47.36 per barrel on Friday, compared to USD 47.95 per barrel on the previous publishing day.

Oil hits new 5.5-year lows on supply glut, Saudi move

Oil tumbled on Tuesday to fresh 5.5-year lows, plagued by a supply glut, demand fears in the faltering global economy, and the strong dollar.

Global crude oil price of Indian basket falls to $72.51/barrel

The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, fell to USD 72.51 per barrel on Thursday, compared to USD 76 per barrel on the previous publishing day.

Global crude oil price of Indian basket rises to $76.32/barrel

The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, rose to USD 76.32 per barrel on Tuesday, compared to 75.52 per barrel on the previous publishing day.

BPCL says no plan to tie up with pvt cos for retail expansion

Country's third largest oil marketeer Bharat Petroleum Corporation (BPCL) has ruled out tying up with private players, saying the PSU has enough capabilities for expanding its retail presence on its own.

'Volatility in petroleum prices putting pressure on finances'

Concerned over the developments in Iraq, India Sunday said volatility in petroleum prices is putting pressure on its finances at a time when emerging economies are passing through a phase of tepid economic activity.

No price hike for domestic LPG cylinders: Pradhan

The price of domestic LPG cylinders will not be increased and the number of subsidised refills given to consumers would continue, Union Petroleum Minister Dharmendra Pradhan said Friday.

'Chennai Petroleum may shut refinery units for month in Q4'

Chennai Petroleum Corp Ltd plans to shut an 80,000 barrels per day (bpd) crude unit and some secondary units for a month-long maintenance in October-December at its 210,000 bpd Manali refinery, its managing director A. S. Basu said.

Marathon Petroleum to buy Hess unit for $2.6 bn

Marathon Petroleum will acquire Hess`s gasoline and convenience store business for USD 2.6 billion in a deal creating one of the biggest US players in the sector, the companies said Thursday.

'India to miss exports target of $325 bn in current fiscal'

Attributing the fall in February exports to decline in outbound shipments of gems & jewellery and petroleum, Director General of Foreign Trade Anup Pujari Wednesday said India will not be able to achieve the exports target of USD 325 billion in the current fiscal.

Projects worth Rs 34,647 cr put on fast track

The government has put on the fast track projects worth Rs 34,647 crore in petroleum and natural gas and power sectors by approving a number of them and giving directions for urgent clearances to the rest.

Petroleum and alcohol should be kept out of GST

The Empowered Committee of state finance ministers on Monday unanimously decided to keep petroleum and alcohol out of the proposed Goods and Service Tax stating that these were the main sources of income for states.

New Oil Minister Moily confident of "melting" away obstacles

A veteran Congress leader from Karnataka, Moily, 72, replaced S Jaipal Reddy under whom the Ministry of Petroleum and Natural Gas was accused of being indecisive and almost halting oil and gas exploration.

China to host petroleum meet

China will host an international petroleum industry conference to discuss opportunities in the sector.