Petroleum News

The per litre prices of petrol and diesel were Rs 107.66 per litre and Rs 96.64 per litre in Mumbai. Mumbai was the first metro city in India, where the petrol prices crossed the Rs 100 mark. In Chennai, the petrol prices have been reduced to Rs Rs 99.32 per litre.

The Ministry of Home Affairs has been making repeated efforts to find a way to have the NH-2 opened.

With the Centre focusing more on developing alternative fuel economy, India will soon stop importing petroleum products, Union Minister Nitin Gadkari said Tuesday.

In a first, researchers have produced renewable fuel from pyrolysis bio-oil, a synthetic fuel being considered a substitute for petroleum.

Nepal is planning to airlift fuel from other countries following a halt in supply of petroleum products by southern neighbor India some two weeks ago.

US oil prices surged more than 10 percent Thursday, climbing back above $40 a barrel after strong American economic growth data lifted confidence about the world`s biggest economy and petroleum user.

State-owned Hindustan Petroleum Corp Ltd (HPCL) Thursday reported a 58 percent jump in its March quarter net profit on back of higher refining margin.

The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, fell to USD 47.36 per barrel on Friday, compared to USD 47.95 per barrel on the previous publishing day.

Oil tumbled on Tuesday to fresh 5.5-year lows, plagued by a supply glut, demand fears in the faltering global economy, and the strong dollar.

The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, fell to USD 72.51 per barrel on Thursday, compared to USD 76 per barrel on the previous publishing day.

The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, rose to USD 76.32 per barrel on Tuesday, compared to 75.52 per barrel on the previous publishing day.

Country's third largest oil marketeer Bharat Petroleum Corporation (BPCL) has ruled out tying up with private players, saying the PSU has enough capabilities for expanding its retail presence on its own.

Concerned over the developments in Iraq, India Sunday said volatility in petroleum prices is putting pressure on its finances at a time when emerging economies are passing through a phase of tepid economic activity.

The price of domestic LPG cylinders will not be increased and the number of subsidised refills given to consumers would continue, Union Petroleum Minister Dharmendra Pradhan said Friday.