Essar Oil has aimed to surge the share of heavy crude at its Vadinar refinery in western India to about 75 percent of the oil it processes from 70 percent. For full story, click here
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India’s Essar Oil declared that it has cut the share of low-sulphur and light grades of crude oil processed at its refinery, helping it cut costs and raise refining margins. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Reliance Industries and Essar Oil announced that the two companies are keen on buying crude oil from Cairn India’s Rajasthan fields even as the Petroleum Ministry struggles to find takers of the nation’s most prolific oil discovery among public sector firms. For full story, click here
ESSAR Exploration & Production (EEPL), a company of private sector conglomerate Essar group, has become the first Indian oil company to enter Australia For full story, click here