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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.

Fire at Saudi oil workers' compound kills 10, many injured

Fire swept through an oil workers' residential compound in Saudi Arabia on Sunday, killing 10 people, the Civil Defence agency said.

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.

Haryana petroleum dealers suspend stir after talks with govt

Petrol pumps in Haryana resumed services on Tuesday after petroleum dealers suspended an indefinite strike against "non-fulfilment" of their demands including lowering tax on diesel by the state government.

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.

Corporate espionage: Judicial custody of 6 accused extended

A Delhi court on Thursday extended till March 19 the judicial custody of six accused including five corporate executives, who were arrested in connection with the Petroleum Ministry documents-leak case.

Corporate espionage case: Govt orders security audit of computers, vetting of staff

The government has ordered security audit of official computers and security vetting of staff of major Ministries and departments following detection of corporate espionage.

Corporate espionage: Defence Ministry staffer sent to judicial custody till March 5

A Defence Ministry staff member, who was arrested for his alleged involvement in the corporate espionage case, was on Wednesday sent to judicial custody till March 05 by a Delhi court.

New land acquisition law to benefit more farmers: Govt

Government on Monday sought to allay apprehensions on the Land Acquisition ordinance saying even farmers whose land was acquired for critical projects like atomic energy, petroleum and highways will also get compensation.

Corporate espionage case: Budget documents, letter related to PMO among recoveries; 12 arrested

Corporate espionage case: Budget documents, letter related to PMO among recoveries; 12 arrested

The sensational Petroleum Ministry document leakage case got murkier on Friday when it was revealed that what was thought to have been a racket confined to the Petroleum Ministry, actually covered matters in finance, coal and power ministries.

12 arrested in corporate espionage case​: As it happened

12 arrested in corporate espionage case​: As it happened

In a development that caused reverberations in political as well as corporate circles, the Delhi Police on Friday arrested two energy consultants in connection with leaking of classified documents from the Petroleum Ministry.

Western powers say Libya risks bankruptcy as oil slumps

The United States and five of its European allies on Saturday warned that Libya could face bankruptcy if its oil output and prices on international markets continue to fall.

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.

Modi govt planning to impose cess on petroleum products: Congress

Congress on Friday claimed that the NDA government is planning to impose a cess on petroleum products and that the party would strongly oppose this move.

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.

Ukraine reports Norway gas deal to counter Russian cut

Ukraine said today it had struck a gas deliveries deal with Norway's energy giant Statoil aimed at helping it avert the consequences of a months-long cut in Russian supplies.