Heavy Fuel Oil

The oil leak from a defunct heavy fuel power plant in Manipur's Leimakhong on Wednesday happened allegedly after "incidents of theft and burglary" at the abandoned facility, according to a police complaint filed by the Manipur State Power Co. Ltd.

The Manipur government has issued an alert over "leakage of heavy fuel" from a power station. The state government has said the leak led to a spillover into the streams passing through Imphal Valley, such as Kantosabal, Sekmai etc.

Shares of firms related to oil exploration and refineries were in heavy demand on Wednesday, with Reliance Industries and ONGC rallying after the government slashed windfall tax on petrol, diesel, jet fuel and crude oil.

The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.

Stock markets moved sharply lower on Friday, led by oil retailers a day after the government announced a cut in fuel prices. The Sensex closed 792 points lower at 34,376 while the NSE Nifty settled at 10,316, its lowest since April 4. At 2.7 per cent, the Nifty also registered its biggest percentage fall since November 11, 2016. Heavy selling in st...

Hindustan Petroleum has commenced home delivery of diesel fuel in and around Mumbai via its HP Fuel Connect initiative. In a statement, the petroleum corporation has said that HP Fuel Connect will deliver Diesel to select customers having fixed equipment and heavy machinery in their premises in surrounding areas of Uran and Raigad in Maharashtra..

Crude oil slipped towards $30 per barrel to a near 12-year low on Tuesday as heavy oversupply showed no sign of easing, while analysts scrambled to cut their price forecasts and traders bet on further declines.

US oil prices fell towards six-year lows on Tuesday after stock markets tumbled in China, the world's largest energy consumer, adding to worries about global fuel demand at a time of heavy oversupply.

The engineering, procurement and construction (EPC) company further said that once completed, the LNG imported to the Ennore Terminal will be used by utility company power generation plants as an alternative fuel and as feedstock by fertiliser plants.

Oil prices fell on Wednesday as investors digested the likely impact of increasing Iranian fuel exports at a time of heavy oversupply.

Indian Oil Corp, the country's largest fuel retailer, has awarded a contract to build two football stadium-sized LNG (liquefied natural gas) storage tanks at its upcoming Ennore LNG import terminal in Tamil Nadu to Japanese firm Mitsubishi Heavy Industries Ltd (MHI).

Warplanes from Libya's official government attacked an oil tanker docked outside the city of Sirte on Sunday, wounding three people and setting the ship on fire, officials said.

Oil rose more than 3 per cent on Thursday, pushing Brent crude to a 2015 high above $63 per barrel on increasing evidence that US production is peaking, balancing a market that has been in heavy oversupply for more than a year.

Indian Oil Corp, the country's biggest refiner, has cut throughput at five key plants after heavy rains curbed demand for diesel in northern and eastern India, a company source with direct knowledge of its operations said.

MRPL's current crude processing is tilted in favour of costlier lighter grades and produces a significant volume of fuel oil, which normally sells at a discount in global markets.

The oil leak from a defunct heavy fuel power plant in Manipur's Leimakhong on Wednesday happened allegedly after "incidents of theft and burglary" at the abandoned facility, according to a police complaint filed by the Manipur State Power Co. Ltd.

The Manipur government has issued an alert over "leakage of heavy fuel" from a power station. The state government has said the leak led to a spillover into the streams passing through Imphal Valley, such as Kantosabal, Sekmai etc.

Shares of firms related to oil exploration and refineries were in heavy demand on Wednesday, with Reliance Industries and ONGC rallying after the government slashed windfall tax on petrol, diesel, jet fuel and crude oil.

The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.

Stock markets moved sharply lower on Friday, led by oil retailers a day after the government announced a cut in fuel prices. The Sensex closed 792 points lower at 34,376 while the NSE Nifty settled at 10,316, its lowest since April 4. At 2.7 per cent, the Nifty also registered its biggest percentage fall since November 11, 2016. Heavy selling in st...

Hindustan Petroleum has commenced home delivery of diesel fuel in and around Mumbai via its HP Fuel Connect initiative. In a statement, the petroleum corporation has said that HP Fuel Connect will deliver Diesel to select customers having fixed equipment and heavy machinery in their premises in surrounding areas of Uran and Raigad in Maharashtra..

Crude oil slipped towards $30 per barrel to a near 12-year low on Tuesday as heavy oversupply showed no sign of easing, while analysts scrambled to cut their price forecasts and traders bet on further declines.

US oil prices fell towards six-year lows on Tuesday after stock markets tumbled in China, the world's largest energy consumer, adding to worries about global fuel demand at a time of heavy oversupply.

The engineering, procurement and construction (EPC) company further said that once completed, the LNG imported to the Ennore Terminal will be used by utility company power generation plants as an alternative fuel and as feedstock by fertiliser plants.

Oil prices fell on Wednesday as investors digested the likely impact of increasing Iranian fuel exports at a time of heavy oversupply.

Indian Oil Corp, the country's largest fuel retailer, has awarded a contract to build two football stadium-sized LNG (liquefied natural gas) storage tanks at its upcoming Ennore LNG import terminal in Tamil Nadu to Japanese firm Mitsubishi Heavy Industries Ltd (MHI).

Warplanes from Libya's official government attacked an oil tanker docked outside the city of Sirte on Sunday, wounding three people and setting the ship on fire, officials said.

Oil rose more than 3 per cent on Thursday, pushing Brent crude to a 2015 high above $63 per barrel on increasing evidence that US production is peaking, balancing a market that has been in heavy oversupply for more than a year.

Indian Oil Corp, the country's biggest refiner, has cut throughput at five key plants after heavy rains curbed demand for diesel in northern and eastern India, a company source with direct knowledge of its operations said.

MRPL's current crude processing is tilted in favour of costlier lighter grades and produces a significant volume of fuel oil, which normally sells at a discount in global markets.