Oil And Gas Prices

India's Oil and Natural Gas Corp has for the first time sold oil through a three-month local tender, commanding $5-$8 per barrel more than existing rates under new rules that allow producers marketing freedom, industry sources said.

India plans to pay about Rs 200 billion ($2.5 billion) to the state-run fuel retailers, such as Indian Oil Corp., to partly compensate them for losses and keep a check on cooking gas prices.

Oil India Ltd (OIL), the nation's second-largest state explorer, reported a tripling of its net profit in the June quarter on record oil and gas price realisation.

Oil prices fell more than $3 a barrel on higher U.S. gasoline stockpiles and after a European Central Bank (ECB) rate hike stoked demand worries, while returning oil supply from Libya and the resumption of Russia's gas flows to Europe eased supply restraints.

The French government urged citizens on Wednesday to make the effort to save energy in the face of record high oil and gas prices, including by cutting wifi routers when heading off on holiday.

World shares hit a three-week high on Wednesday and US index futures were indicating a steady open on Wall Street as strong US corporate earnings and the expected resumption of Russian gas supply to Europe tempered recession fears.

Already battered by rising prices of essentials ranging from fruits and vegetables to edible oil and electricity, record high rates of cooking gas LPG have added to the woes of the common man, especially the lower strata.

The government is not looking to impose any new tax on windfall gains that oil and gas producers earned from shooting energy prices, India's top producer ONGC said Monday.

Former Pakistan Prime Minister Imran Khan has said that if the country had better ties with Russia, then Moscow could have ensured cheap gas and wheat for the country.

Hit hard by a rally in global oil prices, India is taking steps to boost its oil and gas output while accelerating energy transmission to cut emissions.

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman gave a "positive assessment" to their cooperation on the OPEC+ producers group to stabilize the world oil market, the Kremlin said in statement.

The Oil Ministry has stopped making a new allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels, sources said.

The more than doubling of natural gas and oil prices will boost the profitability of oil and gas producers like ONGC and Reliance Industries

Indian state refiners' gasoil and gasoline sales surged to a three-month high in March on increased demand from dealers and consumers ahead of an expected sharp rise in retail prices after elections in key states.

Crude oil prices traded in a narrow range early on Friday, oscillating between the optimism of a supply boost from the US and investors' fears about the impact of Russia's demand for rouble gas payments starting from today.

India's Oil and Natural Gas Corp has for the first time sold oil through a three-month local tender, commanding $5-$8 per barrel more than existing rates under new rules that allow producers marketing freedom, industry sources said.

India plans to pay about Rs 200 billion ($2.5 billion) to the state-run fuel retailers, such as Indian Oil Corp., to partly compensate them for losses and keep a check on cooking gas prices.

Oil India Ltd (OIL), the nation's second-largest state explorer, reported a tripling of its net profit in the June quarter on record oil and gas price realisation.

Oil prices fell more than $3 a barrel on higher U.S. gasoline stockpiles and after a European Central Bank (ECB) rate hike stoked demand worries, while returning oil supply from Libya and the resumption of Russia's gas flows to Europe eased supply restraints.

The French government urged citizens on Wednesday to make the effort to save energy in the face of record high oil and gas prices, including by cutting wifi routers when heading off on holiday.

World shares hit a three-week high on Wednesday and US index futures were indicating a steady open on Wall Street as strong US corporate earnings and the expected resumption of Russian gas supply to Europe tempered recession fears.

Already battered by rising prices of essentials ranging from fruits and vegetables to edible oil and electricity, record high rates of cooking gas LPG have added to the woes of the common man, especially the lower strata.

The government is not looking to impose any new tax on windfall gains that oil and gas producers earned from shooting energy prices, India's top producer ONGC said Monday.

Former Pakistan Prime Minister Imran Khan has said that if the country had better ties with Russia, then Moscow could have ensured cheap gas and wheat for the country.

Hit hard by a rally in global oil prices, India is taking steps to boost its oil and gas output while accelerating energy transmission to cut emissions.

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman gave a "positive assessment" to their cooperation on the OPEC+ producers group to stabilize the world oil market, the Kremlin said in statement.

The Oil Ministry has stopped making a new allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels, sources said.

The more than doubling of natural gas and oil prices will boost the profitability of oil and gas producers like ONGC and Reliance Industries

Indian state refiners' gasoil and gasoline sales surged to a three-month high in March on increased demand from dealers and consumers ahead of an expected sharp rise in retail prices after elections in key states.

Crude oil prices traded in a narrow range early on Friday, oscillating between the optimism of a supply boost from the US and investors' fears about the impact of Russia's demand for rouble gas payments starting from today.