All posts tagged: crude

Rajasthan police probe illegal tapping of IOCL crude oil pipeline

Rajasthan police probe illegal tapping of IOCL crude oil pipeline

Published by Webster

Police have launched a probe after unidentified persons allegedly attempted to siphon crude oil by illegally tapping into an Indian Oil Corporation Ltd (IOCL) pipeline in Rajasthan’s Tonk district.  The attempt came to light after IOCL detected an abnormal pressure drop, and, during an inspection at Ladi village, discovered a 40-foot underground pipeline connected to its crude oil network. The pressure drop was noticed on June 1. The illegal connection was removed, the pipeline repaired, and a complaint has been lodged. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

40-foot illegal pipeline found linked to IOCL crude oil line in Rajasthan: Police

40-foot illegal pipeline found linked to IOCL crude oil line in Rajasthan: Police

Published by Parlour News

Police have started investigating after unknown people allegedly attempted to siphon crude oil by illegally tapping into an Indian Oil Corporation Ltd. (IOCL) pipeline in Rajasthan’s Tonk district, police said on Friday after the company detected an abnormal pressure drop and uncovered a 40-foot underground pipeline connected to its crude oil network. A 40-foot-long illegal pipeline was found laid underground through agricultural land and connected to the IOCL pipeline to allegedly siphon off crude oil. Engineers from IOCL went to inspect Ladi village in Malpura subdivision on Thursday after detecting an abnormal pressure drop in the crude oil pipeline. During the inspection, they discovered an illegal pipeline connected to the main IOCL pipeline. According to officials, the company first noticed low pressure in the pipeline on June 1, following which a team of experts began inspecting the entire stretch of the crude oil pipeline to locate the source of the problem. A 40-foot-long illegal pipeline was found laid underground through agricultural land and connected to the IOCL pipeline to allegedly siphon off crude oil. After …

No immediate cut despite falling crude oil rates, says Minister Hardeep Singh Puri

No immediate cut despite falling crude oil rates, says Minister Hardeep Singh Puri

Published by Webster

Consumers hoping for a cut in petrol and diesel prices will have to wait longer, with Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday making it clear that there is no immediate scope for reducing fuel rates despite a recent decline in global crude oil prices Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

OMCs cuts ATF prices by nearly Rs 5 per litre as global crude prices ease

OMCs cuts ATF prices by nearly Rs 5 per litre as global crude prices ease

Published by Webster

State-owned oil marketing companies (OMCs) have reduced aviation turbine fuel (ATF) prices by nearly Rs 5 per litre, effective from Wednesday, following a decline in international crude oil prices after easing geopolitical tensions in West Asia.  According to the latest price notification, the price of jet fuel in Delhi has been cut to about Rs 110 per litre, coming into effect from July 1. The latest price cut is expected to lower operating costs for domestic carriers, although the actual benefit will depend on individual airlines’ fuel procurement and hedging strategies. The reduction follows a softening in global crude oil prices in recent weeks as geopolitical tensions in West Asia eased and concerns over supply disruptions subsided, providing relief to airlines for which fuel is the single-largest operating expense. Earlier in June, the government had fixed the basic price of aviation turbine fuel (ATF) for domestic airlines at Rs 86.32 per litre for up to three years under the new price stabilisation scheme to keep airlines financially viable and passenger tickets affordable. Under the voluntary …

‘Doubled in months’: Karnataka hoteliers seek LPG price rollback amid crude rate decline

‘Doubled in months’: Karnataka hoteliers seek LPG price rollback amid crude rate decline

Published by Parlour News

The KSHA on Friday urged the Central Government to immediately slash commercial LPG cylinder prices, which have nearly doubled in recent months, citing a sharp decline in global crude oil prices. India has removed restrictions on supplies of commercial liquified petroleum gas imposed during the Middle East war when energy supplies were hit by the closure of the Strait of Hormuz. (AFP) G K Shetty, President of the Karnataka State Hotels Association, in a press release, said commercial LPG cylinders were priced at around ₹1,800 in February. After dealer discounts, hotels procured them for approximately ₹1,650 to ₹1,700 per cylinder. He said the conflict in the Middle East severely disrupted global gas supplies, which gradually recovered to nearly 70 per cent of normal levels. These disruptions resulted in a steep increase in commercial LPG prices, Shetty said. Hotels and restaurants are now paying ₹3,198 per commercial LPG cylinder – almost double what they were paying a few months ago. As international crude oil prices have now declined to around USD 70 per barrel, roughly the …

Centre may ask airlines to review surcharges and additional prices if crude rates stabilise

Centre may ask airlines to review surcharges and additional prices if crude rates stabilise

Published by Parlour News

The Union government may ask airlines to review surge charges and additional fares if fuel prices remain stable over a longer period, Civil Aviation Minister K Ram Mohan Naidu said on Thursday. The Union government may ask airlines to review surge charges and additional fares if fuel prices remain stable over a longer period, Civil Aviation Minister K Ram Mohan Naidu said on Thursday. (PTI (File)) Speaking with reporters, Naidu said the Centre was closely monitoring aviation turbine fuel (ATF) prices and was in discussions with airlines to assess whether the recent decline in prices was sustainable. Also Read| Oil prices today: Brent crude falls to $73 as Trump orders DOJ probe into oil companies over gas prices Currently government reviews ATF prices on a fortnightly basis, based on movement of global crude prices. Besides it has also created a ₹10,000 crore price stabilisation fund to support airlines in times of distress due to West Asia crisis. “Secondly, now that we are seeing prices coming down, we still have to see if this is a …

Congress president Mallikarjun Kharge questions fuel price hike despite lower crude oil rates

Congress president Mallikarjun Kharge questions fuel price hike despite lower crude oil rates

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Kharge cited an official statement by the PIB to state that exactly 12 years ago today — on May 26, 2014 — when Prime Minister Narendra Modi assumed office, the price of crude oil in the Indian basket stood at USD 108.05 per barrel, and the Dollar-Rupee exchange rate was Rs 58.59. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Recent fuel price hike a form of belt tightening amid rise in crude prices, says experts

Recent fuel price hike a form of belt tightening amid rise in crude prices, says experts

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Senior executives from state-run oil companies ONGC and BPCL have said the recent increase in petrol and diesel prices reflect the impact of prolonged geopolitical tensions in West Asia, rising global crude oil prices and mounting pressure on oil marketing companies due to under-recoveries. Speaking on the impact of the West Asia conflict, ONGC Director (Exploration) Sushma Rawat said crude oil prices have remained highly volatile amid uncertainty over the conflict. “Whenever there is a declaration that there is a peace accord, the crude prices start to dip. And when you realise that there is no solution, the prices go up again,” Rawat said. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

79 crude bombs recovered in Bengal; NIA launches probe

79 crude bombs recovered in Bengal; NIA launches probe

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The National Investigation Agency has registered a case to investigate the recovery of 79 crude bombs in West Bengal ahead of elections. The move follows directions from the Election Commission of India to intensify action against illegal bomb manufacturing in the state Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Nifty, Sensex opens in red as crude oil crosses USD 100 amid global tensions

Nifty, Sensex opens in red as crude oil crosses USD 100 amid global tensions

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Equity benchmark indices Sensex and Nifty fell sharply in early trade on April 23, tracking a surge in crude oil prices above USD 100 per barrel and weak global cues. Rising geopolitical tensions and FII outflows further weighed on investor sentiment Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link