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Oil Production Companies

OPEC+ Alliance Boosts Oil Production As Energy Prices Soar

The decision on Thursday steps up the pace by the alliance, known as OPEC+, in restoring cuts made during the worst of the pandemic recession. 

03 June 2022

In Delhi, diesel costs Rs 86.67 a litre at the petrol pump.

Diesel Price Hiked By Rs 25/Litre For Bulk Users; Private Retailers Stare Closure

In 2008, Reliance Industries had shut all of its 1,432 petrol pumps in the country after sales dropped to almost nil as it could not match the subsidized price offered by the public sector competition.


Out of 80 per cent of India's oil imports, 2 to 3 per cent account from Russia currently.

India Considers Buying Russian Oil, Commodities At Discounted Price: Report

As per the report, out of 80 per cent of India's oil imports, 2 to 3 per cent account from Russia currently. However, with soaring oil prices, India is planning to increase its oil imports from Russia.


File Photo.

India's Crude Oil Production Drops By 2.6% In FY22

India's crude oil production has been on a decline during the past few years. From 35.7 million tonnes in 2017-18, it fell to 34.2 million tonnes in the following year and 32.2 in 2019-20, and 30.5 million tonnes in...

20 April 2022

 Imports make up 85 per cent of India's oil needs.

India's Oil Demand Likely To Jump 8% In 2022

India's oil demand rose from 4.51 million barrels per day in 2020 to 4.76 million bpd in 2021, recording a 5.61 per cent growth.


The firm had sought bids at a premium over the base of 13.2 per cent of Brent crude oil prices.

Reliance Sells CBM Gas For Over $23; HOEC Gets $25

At the current Brent crude oil price of $115 per barrel, the base comes to $15.18 per mmBtu and adding $8.28 premium bid by state-owned gas utility GAIL and other firms, the final price comes to $23.46 per mmBtu.

10 March 2022

Petrol Crosses Rs 100-Mark, Diesel Up 70 Paise; Seventh Hike This Month

Petrol in Delhi will now cost Rs 100.21 per litre as against Rs 99.41 previously while diesel rates have gone up from Rs 90.77 per litre to Rs 91.47.

29 March 2022

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The crude oil rates are now trading near $120 a barrel.

Costlier Crude Oil Pushing Up Raw Materials Prices, Says JSPL MD

As oil prices have gone up, freight rates of cargo ships, which currently stand at $20,000 a day, are likely to reach $30,000 per day.

06 March 2022

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04 March 2022
Rs 12 Hike In Petrol, Diesel Price Needed To Break-Even

Rs 12 Hike In Petrol, Diesel Price Needed To Break-Even

International crude oil prices shot above $120 a barrel for the first time in nine years on Thursday before retreating a little to $111 on Friday, but the gulf...


04 March 2022
SWIFT Ban, Sanctions On Russia To Hurt Indian Oil Companies: Report

SWIFT Ban, Sanctions On Russia To Hurt Indian Oil Companies: Report

Major Indian oil companies such as ONGC, Oil India Limited (OIL), Indian Oil Corporation (IOC), and BPCL have invested in Russian energy projects, according to...


02 March 2022
Petrol, Diesel Price Hikes To Restart After Assembly Elections Get Over

Petrol, Diesel Price Hikes To Restart After Assembly Elections Get Over

"With state elections getting over next week, we expect daily fuel price hikes to restart across both gasoline and diesel," JP Morgan said in a report


25 February 2022
Oil Retreats $101 Per Barrel; No Supply Shocks For India Amid Russia-Ukraine Crisis

Oil Retreats $101 Per Barrel; No Supply Shocks For India Amid Russia-Ukraine Crisis

Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine. It however retreated and...


24 February 2022
No Fears Of Supply Disruption To India As Oil Touch $103 Amid Russia-Ukraine Crisis: Official

No Fears Of Supply Disruption To India As Oil Touch $103 Amid Russia-Ukraine Crisis: Official

For consumers, the spike in global oil prices will not have any direct bearing just yet as state-owned fuel retailers continue to hold petrol, diesel and LPG...


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24 February 2022
IOC Buys 2 Million Barrel Russian Urals Crude Amid Russia-Ukraine Tension: Report

IOC Buys 2 Million Barrel Russian Urals Crude Amid Russia-Ukraine Tension: Report

The development comes at a time when the Brent Crude oil prices are trading at an eight-year-high above $100 barrel amidst Russia’s invasion of Ukraine.


22 February 2022
Oil At 8-Year High Amid Russia-Ukraine Crisis: Report

Oil At 8-Year High Amid Russia-Ukraine Crisis: Report

In India, the shares of oil companies—ONGC and Oil India Limited jumped as much as 2 per cent to hit an intraday high of Rs 166.50 and Rs 224...


19 January 2022
India's Oil Production Continues To Fall, Down 2% In December

India's Oil Production Continues To Fall, Down 2% In December

Oil production in December 2021 was 2.51 million tonnes, down from 2.55 million tonnes a year earlier and a target of 2.6 million tonnes.


16 January 2022
Oil India Exits US Shale Oil Venture, Sells 20% Stake For $25 Million

Oil India Exits US Shale Oil Venture, Sells 20% Stake For $25 Million

OIL and Indian Oil Corporation (IOC) had together in October 2012 bought a 30 per cent stake in Houston-based Carrizo Oil & Gas's Niobrara shale asset in...


19 November 2021
Fuel Prices Static As Oil Companies Keep Petrol Prices Unchanged

Fuel Prices Static As Oil Companies Keep Petrol Prices Unchanged

The pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a. m. on November 4 from previous day's Rs 110.04 a litre, remains at the same level....


19 November 2021
Fuel Prices Static As Oil Companies Keep Petrol Prices Unchanged

Fuel Prices Static As Oil Companies Keep Petrol Prices Unchanged

The pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a. m. on November 4 from previous day's Rs 110.04 a litre, remains at the same level....


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05 November 2021
OPEC+ Keeps Cautious Oil Production Despite Biden Pressure

OPEC+ Keeps Cautious Oil Production Despite Biden Pressure

The OPEC+ alliance, made up of OPEC members led by Saudi Arabia and non-members led by Russia, approved an increase in production of 400,000 barrels per day...


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