Aviation turbine fuel price was on Friday hiked by 5.5 per cent for the fifth month in a row, but that of non-subsidised cooking gas was cut by Rs 11 per cylinder, in line with global trends
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The growth in crude oil consumption in India has been driven by the strong demand for the end product in the country, with demand growing by 11.2 per cent in FY16 with a strong growth recorded by petrol, diesel, LPG, and Naptha sales at 14.3%, 7.5%, 8.8% and 22.5% respectively
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VOTL is an integrated oil terminal located in Vadinar, Gujarat with 58 million tonnes capacity and handles crude oil and petroleum products
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The farmers were demanding exclusion of 12 blocks from the auction in Assam and withdrawal of FDI in oil sector
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Kenya took ownership of a petroleum refinery in its port city of Mombasa by finalising the acquisition of a 50 per cent stake that had been held by India's Essar Energy, the Finance Minister said
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US crude's expiring July front-month contract was down 41 cents at $48.96 a barrel at 0650 GMT. The more actively traded August contract, the new front-month from Wednesday, was down 41 cents at $49.55
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The retail network expansion planned is on franchise model and will entail an investment of about Rs 2,500 crore by the pump owners
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India's monsoon is expected to dump above-average rainfall on the South Asian nation after two years of drought, cutting its use of diesel for irrigation pumps and generators over the third quarter and potentially rejuvenating exports of the oil product
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Igor Sechin questions the rationale of Russia's plans to sell almost 20 per cent of Rosneft as part of a wider privatisation scheme, saying the company's share price did not match its fundamentals
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Britain's oil industry and indirectly related jobs like supply chain and services are estimated to fall to 330,000 by the end of the year, down from 450,000 in 2014
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