Big movers on D-Street: What should investors do with OIL, IOC and BPCL?

Big movers on D-Street: What should investors do with OIL, IOC and BPCL?

Equity indices declined over half a percent on Friday amid weak global market trends. The 30-share Sensex declined 453 points to settle at 72,643 and the Nifty dropped 123 points at 22,023. Stocks that were in focus included names like OIL, which fell 4.04%, IOC, which declined 5.25%, and BPCL, whose shares dropped 4.15% on … Read more

Oil pipeline bursts in Assam, one killed

Oil pipeline bursts in Assam, one killed

GUWAHATI A contractual employee was killed and four others were injured after a pipeline burst during repair work at a facility of Oil India Limited (OIL) in eastern Assam’s Dibrugarh district on Wednesday afternoon. Two of the injured were admitted to the Assam Medical College and Hospital in Dibrugarh while the other two were receiving … Read more

Oil prices remain under pressure on softening demand and oversupply worries

Oil prices remain under pressure on softening demand and oversupply worries

Crude oil witnessed a steep fall on demand worries and concerns over surplus supply. Prices remained averse after an underwhelming production cut initiated by OPEC plus countries in its latest meeting which ended on November 30. The US benchmark, NYMEX futures, slipped below $70 a barrel last week while its Asian counterpart, Brent crude, traded … Read more

Indian Oil to expand its LNG terminal at Kamarajar Port in Chennai

Indian Oil to expand its LNG terminal at Kamarajar Port in Chennai

IOCL, at present, stores gas in two tanks with capacities of 1,80,000 cubic metres each. File photograph | Photo Credit: JOTHI RAMALINGAM B   Indian Oil Corporation Ltd. (IOCL) has proposed to expand the capacity of its liquefied natural gas (LNG) terminal located inside the Kamarajar Port, in Ennore, Chennai. At present, the terminal has the capacity to process … Read more

Tension in West Asia: Where are crude oil prices headed?

Tension in West Asia: Where are crude oil prices headed?

Global oil prices held steady near $85 a barrel, but traders remain cautious following the eruption of violence between Israel and Hamas, which could potentially disturb the oil supply chain in the Middle East. Prices clocked one-year highs at the end of September, driven by worries about supply shortages after a surprise extension of voluntary … Read more

Oil prices ease as bearish China data fuels demand concerns

Oil prices ease as bearish China data fuels demand concerns

Oil prices eased in early trade on Wednesday as concerns over slow demand from top crude importer China grew after bearish trade data, outweighing fears over tighter global supply arising from production cuts by Saudi Arabia and Russia. Brent crude futures fell 17 cents, or 0.2%, to $86.00 a barrel by 0039 GMT. U.S. West … Read more

Russia oil discount to India shrinks to $4, delivery charges remain opaque

Russia oil discount to India shrinks to $4, delivery charges remain opaque

The steep discounts on Russia crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continues to remain ‘opaque’ and higher than normal, sources said. Russia bills Indian refiners at a price shade less than the $60 per barrel price cap imposed by the West … Read more

Oil prices rise on concerns over tightening supply

Oil prices rise on concerns over tightening supply

Oil prices gained on Wednesday after U.S. oil and fuel supplies tightened and as a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Brent crude futures rose 86 cents, or 1.1%, to $77.70 a barrel by 0007 GMT, while the U.S. West Texas Intermediate crude (WTI) gained … Read more

Oil prices edge lower after surprise build in U.S. crude, gasoline stockpiles

Oil prices edge lower after surprise build in U.S. crude, gasoline stockpiles

Oil prices slipped in early trade on Wednesday after industry data showed a surprise build in U.S. crude stocks, while investors awaited U.S. inflation data for April that could give direction for the Federal Reserve‘s next rate decision. Brent crude dropped 16 cents to $77.28 a barrel at 0008 GMT, while U.S. West Texas Intermediate … Read more

Oil price stable as markets weigh OPEC+ surprise cuts amid demand woes

Oil price stable as markets weigh OPEC+ surprise cuts amid demand woes

HOUSTON: Oil prices were little changed in choppy trading on Tuesday as investors debated OPEC+ plans to cut more production and weak economic data from the United States and China that could hurt oil demand. Brent crude futures were down 30 cents, or 0.3%, to $84.63 a barrel by 11:05 a.m. ET (1505 GMT). U.S. … Read more