Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies

Crude oil has been on an upswing because of Saudi Arabia's additional supply cuts and growing optimism around the launches of the various vaccines against COVID-19

Oil Minister Dharmendra Pradhan said an estimated investment of $66 billion is lined up in developing gas infrastructure, which includes pipelines, city gas distribution, and LNG regasification terminals

The prime minister said that India is following the same principle in the 'Reform-Perform-Transform' strategy to move forward and taking inclusive development efforts that are participative

At the event titled \"Safeguarding the Planet,\" PM Modi mentioned India's achievement of meeting the goal of 175 gigawatts of renewable energy before the target of 2022, and promised \"a big step ahead by seeking to achieve 450 gigawatts by 2030\"

Centre has received multiple EOIs for stake sale in BPCL, though names have not been made public. Biggest oil companies, including Mukesh Ambani's RIL, Saudi Aramco, BP, and Total, have, however, not shown interest in the state-owned oil firm

Reliance Industries, which was considered a potential bidder as BPCL would have added 22 per cent fuel market share to its fledgling retail business and made it the nation's number one oil refiner, did not put in an expression of interest

The asking price of close to $10 billion by the government for selling its entire 52.98 per cent stake may keep the energy giants away from bidding for a majority stake in the second largest oil refinery and marketing company in India

Iran sanctions can be re-evaluated and then Iran will be back to the market, so again there would be oversupply and the current cut deal will be at risk

Schwab, who founded WEF over 50 years ago, said COVID-19 is the most devastating and immediate crisis the world is facing, but we are equally going through the worst environmental crisis in human history as well

The Prime Minister's Office (PMO) said that this is the fifth such event organised by the NITI Aayog and Ministry of Petroleum and Natural Gas, and around 45 CEOs of major oil and gas companies will attend the roundtable this year

Modi will deliver the inaugural address at the virtual event, to be held on October 26-28

The privatisation of key companies, including BPCL, is a key part of government plans to pare the fiscal deficit, which has breached its target level just four months into the current fiscal year

The domestic unit opened at 73.40 per dollar and gained further ground to touch 73.32 against the US dollar, registering a rise of 21 paise over its previous close of 73.53 per dollar

Taking to Twitter on Friday, Congress leader Jairam Ramesh critiqued the government for chasing bogus rankings over the years while India's MSMEs continued to languish

Stockpiles of crude in the United States fell a fourth straight week, even as net imports rose, the Energy Information Administration (EIA) said

One source estimated that 500 people had been laid off, adding that the job losses were mostly based on performance and similar actions took place each year

Algerian Oil Minister Mohamed Arkab, the current OPEC president, warned meeting attendees that the global oil inventory would soar to 1.5 billion barrels by the mid-point of this year

The economies of all the Arab Gulf oil exporters are expected to contract this year, as much as 5% in Iraq, according to the International Monetary Fund

The Saudi energy minister downplayed the move in oil prices on Monday, saying anticipation of the cuts was the reason for a rally in oil prices before the meeting. Since dipping below $22 a barrel two weeks ago, Brent has rebounded by roughly 48%.