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Petrol Price Today Crosses Rs 100 in Delhi; See Fuel Prices in Mumbai, Chennai, Other Cities
May 21, 2022
Source: News18

Petrol Price Today Crosses Rs 100 in Delhi; See Fuel Prices in Mumbai, Chennai, Other Cities

Petrol, Diesel price today, May 21: If you are a consumer of petrol in Delhi, you will be paying Rs 105.41 per litre, while consumers of diesel in the national capital will be paying Rs 96.67 per litre.

Woodside Petroleum rebrands as Woodside Energy Group
May 21, 2022
Source: EnergyVoice

Woodside Petroleum rebrands as Woodside Energy Group

Following a shareholder vote yesterday, Australian liquefied natural gas (LNG) developer Woodside Petroleum (ASX:WPL) will change its name to Woodside Energy Group as it prepares to embrace the energy transition.

Exit: ExxonMobil sells Barnett shale stake for $750 million
May 20, 2022

Exit: ExxonMobil sells Barnett shale stake for $750 million

US supermajor ExxonMobil is selling for $750 million its stake in one of the world’s first actively produced shale plays, the Barnett shale of Texas in the US, to BKV Corporation. ExxonMobil in 2020 removed the company's Barnett holdings from its development plan and had been actively marketing the assets since last November.

Government in talks with Russian over cut-price oil deal: HPCL
May 20, 2022
Source: TOI

Government in talks with Russian over cut-price oil deal: HPCL

India is in talks with Russia over a deal to buy oil at discounted rates, the chairman of state-run Hindustan Petroleum Corp said on Thursday, at a time when much of the West is shunning Russian crude over the conflict in Ukraine.

ONGC weighs raising stakes in Russian oil despite Shell snub
May 19, 2022
Source: Economic Times

ONGC weighs raising stakes in Russian oil despite Shell snub

ONGC, Bharat Petroleum, Indian Oil, and Oil India have also held preliminary discussions among themselves to evaluate buying BP's 20% stake in Russian energy giant Rosneft.

Gautam Adani, Mukesh Ambani reap windfall from surging oil, coal
May 19, 2022
Source: Times Of India

Gautam Adani, Mukesh Ambani reap windfall from surging oil, coal

Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even as Asia’s richest men publicly push their pivots toward greener energy. With coal prices skyrocketing to a record, Adani’s conglomerate is expanding a controversial mine in Australia to meet demand.

Oil prices climb on hopes of China demand recovery
May 19, 2022
Source: EnergyWorld

Oil prices climb on hopes of China demand recovery

Brent crude futures were up $1.15, or 1.0 per cent, at $113.08 a barrel at 0042 GMT, while US West Texas Intermediate (WTI) crude futures climbed $1.62, or 1.4 per cent, to $114.02 a barrel, paring some losses after oil prices fell by around 2 per cent in the previous session.

GAIL to set up green hydrogen plant at Guna in MP
May 13, 2022

GAIL to set up green hydrogen plant at Guna in MP

State-owned GAIL (India) Ltd will build one of India's largest proton exchange membrane (PEM) electrolyzer at Guna in Madhya Pradesh to produce green hydrogen by the end of 2023, as it looks to supplement ‎its natural gas business with carbon-free fuel. In a statement, India's largest gas transporting and marketing firm said it has awarded the contract to set up the PEM-based project that will produce 4.3 tonnes of green hydrogen per day (about 10 MW capacity), which will be mixed in natural gas for supply to industries.

Crude Oil Futures: Extra gains in the pipeline
May 13, 2022
Source: CME Group

Crude Oil Futures: Extra gains in the pipeline

According to preliminary readings from CME Group for crude oil futures markets, traders added around 18.3K contracts to their open interest positions on Thursday. Volume, instead, shrank for the second session in a row, this time by nearly 96K contracts.

Oil dives 6% as China lockdowns continue to fuel demand worries
May 10, 2022
Source: The Sundaily

Oil dives 6% as China lockdowns continue to fuel demand worries

NEW YORK: Oil prices sank about 6% yesterday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, fed worries about the demand outlook.

OPEC+ April crude oil output tumbles as sanctions hit Russian output: Platts survey
May 10, 2022
Source: S&P Global

OPEC+ April crude oil output tumbles as sanctions hit Russian output: Platts survey

Crude oil production by OPEC and its partners fell to a six month low of 41.58 million b/d in April as Russian production took a battering from Western sanctions

Reliance likely to clock $20 bn EBITDA by end 2022: Morgan Stanley
May 9, 2022

Reliance likely to clock $20 bn EBITDA by end 2022: Morgan Stanley

A refining golden age, tightening global gas markets and improving telecom subscriber quality point to a USD 20 billion-plus EBITDA run rate for Reliance Industries Ltd by end-2022, Morgan Stanley

"Pushp Kumar Joshi takes over as CMD of HPCL  "
May 9, 2022
Source: Energy World

"Pushp Kumar Joshi takes over as CMD of HPCL "

"Joshi, the senior-most director on the HPCL board, was in January picked by the government headhunter PESB to replace Mukesh Kumar Surana. "

Bulgaria says will veto EU oil sanctions on Russia if it does not get derogation
May 9, 2022
Source: Energy World

Bulgaria says will veto EU oil sanctions on Russia if it does not get derogation

European Union governments moved closer on Sunday to agreeing to tough sanctions against Russia over its invasion of Ukraine, but scheduled more talks for Monday to work out how to ensure countries most dependent on Russian energy can cope.

Japan to take time phasing out Russian oil imports
May 9, 2022
Source: Energy World

Japan to take time phasing out Russian oil imports

The G7 nations committed to the move "in a timely and orderly fashion" at an online meeting on Sunday to put further pressure on President Vladimir Putin,

Tata Power net profit rises over 31 pc to Rs 632 cr in Mar qtr
May 7, 2022
Source: Energy World

Tata Power net profit rises over 31 pc to Rs 632 cr in Mar qtr

"Consolidated PAT before Exceptional Items up by 76 per cent YoY (year-on-year) at Rs 775 Crore in March quarter vs Rs 440 Crore in Q4 FY21 (March quarter), " the company said in the statement.

India, Italy agree to cooperate in areas of green hydrogen, biofuels, energy storage
May 7, 2022
Source: Energy World

India, Italy agree to cooperate in areas of green hydrogen, biofuels, energy storage

The two foreign ministers noted the potential for a closer India-Italy industrial collaboration in the defence sector and vowed to work closely in countering common challenges of terrorism, violent extremism and cybercrimes.

"Reliance becomes the first Indian company to rake in $100 bn annual revenue  "
May 7, 2022
Source: Energy World

"Reliance becomes the first Indian company to rake in $100 bn annual revenue "

"The conglomerate, which is owned by Asia's richest man Mukesh Ambani, reported a net profit of 162.03 billion ($2.1 billion) between January and March, 22.5 percent than the same period last year."

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