Oil India Ltd.
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Watch: Oil India discovers natural gas deposit in Andaman basin; Puri hails find
Oil India Limited discovered the presence of natural gas in an exploratory well drilled in the Andaman Sea, marking a significant development in India’s offshore exploration efforts, announced union minister for petroleum and natural gas Hardeep Puri. The discovery has been made in the “Sri Vijayapuram-3” well, located about 15 km off the east coast of the Andaman Islands at a water depth of 355 metres. The well was drilled to a depth of over 1,900 metres in the Eocene formation, where...
Russian crude here to stay? Why India-US energy ties may be more about LPG, LNG than oil
US President Donald Trump announced in February that India would stop buying Russian crude oil and step up energy ties with the United States of America. Four months after that, India’s Russian oil imports are near record highs and the US still doesn’t feature among India’s top five crude suppliers. But notably, India has stepped up LPG and LNG imports.
Meta Partners With Reliance on Its First AI Data Center in India
Meta Partners With Reliance on Its First AI Data Center in India Meta Platforms Inc. is partnering with Reliance Industries Ltd. to build its first AI data center in India, adding to a wave of investment in tech infrastructure globally. As part of the deal, tycoon Mukesh Ambani’s Reliance will build a 168-megawatt data center in Jamnagar — where it also runs the world’s largest single-site oil refinery — that Facebook’s parent will lease, the companies said in a statement on Wednesday. The...
Commercial LPG gets costlier: Cylinder sees average hike of Rs 47.75 across cities
Commercial LPG prices across India have been increased by Rs 42 to Rs 53.50 per cylinder from Monday. The price hike comes amid concerns over fuel supply security and efforts to strengthen LPG reserves following recent disruptions linked to the West Asia conflict. The price of a 19-kg commercial LPG cylinder in Delhi has been raised by Rs 42, taking the retail price to Rs 3,113.50.
Fuel price cut call: Transporters body urge Centre to cut petrol, diesel prices
The All India Motor & Goods Transport Association (AIMGTA) has urged the Centre to reduce petrol and diesel prices, arguing that a sharp decline in international crude oil prices should be passed on to consumers and the transport sector, reported PTI. In a representation to the government, the association said global crude oil prices have fallen from around $104 per barrel to about $90 per barrel, creating room for a reduction in domestic fuel prices. The transporters' body said elevated...
Dalal Street outlook: What will guide market sentiments this week?
Dalal Street is set for a busy week as investors will be tracking domestic and global developments. The RBI's interest rate decision, key economic data releases, crude oil prices and the evolving US-Iran situation are expected to be the main factors driving market sentiment. Market participants will also keep a close watch on macroeconomic indicators, foreign investor activity and movements in the rupee against the US dollar for cues on the near-term outlook for equities.
ED searches at Vedanta premises in three cities
Several premises of industrialist Anil Agarwal-led Vedanta Ltd in Delhi, Mumbai and Udaipur were on Monday searched by Enforcement Directorate (ED) in a suspected FEMA violation case involving transactions related to brand royalty between the UK-based Vedanta Resources and its Indian subsidiary Vedanta Ltd. The enforcement agency officials carried out a survey, searching for evidence on suspected remittances made in violation of Foreign Exchange Management Act (FEMA). A spokesperson for...
Bullion movement: Gold prices to track US–Iran peace talks, Fed signals and key data releases this week
In the upcoming week, gold prices will be shaped by developments in US–Iran peace negotiations, movements in crude oil rates and a series of macroeconomic data releases. Analysts have said that speeches by officials of the US Federal Reserve could also play a key role in shaping interest rate expectations, which in turn may guide the near-term direction of bullion prices. "Momentum for precious metals such as gold and silver still looks sideways to corrective," Pranav Mer, Vice President,...
Gold price prediction today: Will gold prices see limited upside? Key levels to watch out
Gold price prediction today: Momentum in gold prices remains weak, and markets will track the US-Iran developments for cues, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. Gold traded under sustained pressure through the week on the hourly timeframe, extending its corrective phase after failing to hold gains above the ₹166,000–167,000 zone. The broader trend remains range-bound to mildly bearish in the short term, with prices consistently trading...