The Iran crisis has reshaped global energy markets, sending crude oil prices soaring and delivering massive profits to the world's biggest oil companies. As disruptions in the Strait of Hormuz pushed oil above $126 per barrel, energy giants including Saudi Aramco, ExxonMobil, Chevron, Shell, BP, and TotalEnergies reported record quarterly earnings.

Combined profits reached nearly $93 billion between April and June, while consumers worldwide struggled with soaring fuel and energy costs. The windfall has sparked political criticism and renewed calls for stronger taxes on excess profits and greater investment in clean energy.

Iran War Fuels Oil Profits: Energy Giants Earn $93 Billion in Just 3 Months

Venezuelan opposition leader María Corina Machado has called on international oil companies to cease operations under Nicolás Maduro’s government. She argues that continuing to work with Maduro legitimizes a regime she deems corrupt and responsible for the country’s severe economic crisis. Machado emphasizes that foreign investment should align with democratic principles and the restoration of human rights in Venezuela. Her appeal aims to pressure oil companies to reconsider their involvement, highlighting the broader struggle for democracy and accountability in the nation.

Venezuela: Machado Urges Oil Companies To Stop Operating Under Maduro

A new report by oil change international raises concerns about the sincerity of major oil companies' climate pledges. The research finds that plans from eight of the world's largest oil and gas producers are insufficient to meet the critical goal of limiting global warming to 1.5 degrees celsius.

Oil giants’ climate pledges fall short | WION Climate Tracker

California claims oil companies have deceived the public for decades about how the burning of fossil fuels is destroying the planet. The lawsuit alleges that oil and gas executives knew since the 1950s that relying on fossil fuels would have catastrophic results but they suppressed the information.

California accuses oil firms of covering up the risks of climate change | WION Climate Tracker

Multnomah, a county in the northwestern state of Oregon, filed a lawsuit against prominent oil companies over the 'Heat Dome' disaster in 2021. The county is seeking&nbsp;$51 billion over one of the deadliest weather-related disasters in the United States.&nbsp;

Multnomah encompasses Portland, the state's most populous city. It blamed the oil companies for misleading the public about the impact of carbon pollution from using their products. They claimed that it was a leading factor in aggravating the heat wave.

The county asked for $50 billion in current damages from the Heat Dome and $1.5 billion for future damages as excessive heat, drought, wildfires, and smoky skies become more common. The county also asked for a much higher amount for a long-term abatement fund to upgrade its infrastructure.&nbsp;

ALSO READ |&nbsp;<a href="www.wionews.com/technology/over-100000-hacked-chatgpt-accounts-sold-on-dark-web-india-pak-top-the-list-607764">Over 100,000 hacked ChatGPT accounts sold on dark web, India, Pak top the list</a>

"This is an event that is directly attributed to the impacts that we are seeing on our climate because of the actions of fossil fuel companies and their agencies that have been pressing for decades to deny climate science," County Chair Jessica Vega Pederson told AFP.&nbsp;

Multnomah County has named several oil firms in their lawsuit, including ExxonMobil, Shell, Chevron, and BP. It has&nbsp;also mentioned the American Petroleum Institute, Western States Petroleum Association and McKinsey &amp; Company. In 2021, the county recorded high temperatures causing the death of 69 people, extensive property damage, and significant expenditure of taxpayer money.

The record-breaking heat wave caused a maximum temperature of 49.6 degree&nbsp;Celsius in Lytton, British Columbia and baked the western United States and Canada. Around 1,400 people died during the heat wave. According to an analysis by the World Weather Attribution group, the phenomenon was impossible without human-caused climate change.&nbsp;

WATCH |&nbsp;At least four terrorists killed in an encounter in J&amp;K's Kupwara

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As per the lawsuit, the Heat Dome was a "direct and foreseeable consequence" of the decision of oil companies to sell too many products over the last six decades.&nbsp;

An ExxonMobil spokesperson has responded to the lawsuit and said, "Suits like these continue to waste time, resources, and do nothing to address climate change." He added, "This action has no impact on our intention to invest billions of dollars to leading the way in a thoughtful energy transition that takes the world to net zero carbon emissions."

As per the reports by Bangkok Post, Chevron lawyers called such lawsuits "counterproductive distractions from advancing international policy solutions". 
 
"The federal Constitution bars these novel, baseless claims that target one industry and group of companies engaged in lawful activity that provides tremendous benefits to society," the Chevron counsel stated.&nbsp;

(With inputs from agencies) 
 
&nbsp;

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Multnomah, a county in the northwestern state of Oregon, filed a lawsuit against prominent oil companies over the 'Heat Dome' disaster in 2021. The county is seeking $51 billion over one of the deadliest weather-related disasters in the United States.

Multnomah, a county in the northwestern state of Oregon, filed a lawsuit against prominent oil companies over the 'Heat Dome' disaster in 2021. The county is seeking $51 billion over one of the deadliest weather-related disasters in the United States. Multnomah encompasses Portland, the state's most populous city. It blamed the oil companies for misleading the public about the impact of carbon pollution from using their products. They claimed that it was a leading factor in aggravating the heat wave. The county asked for $50 billion in current damages from the Heat Dome and $1.5 billion for future damages as excessive heat, drought, wildfires, and smoky skies become more common. The county also asked for a much higher amount for a long-term abatement fund to upgrade its infrastructure. ALSO READ | Over 100,000 hacked ChatGPT accounts sold on dark web, India, Pak top the list "This is an event that is directly attributed to the impacts that we are seeing on our climate because of the actions of fossil fuel companies and their agencies that have been pressing for decades to deny climate science," County Chair Jessica Vega Pederson told AFP. Multnomah County has named several oil firms in their lawsuit, including ExxonMobil, Shell, Chevron, and BP. It has also mentioned the American Petroleum Institute, Western States Petroleum Association and McKinsey & Company. In 2021, the county recorded high temperatures causing the death of 69 people, extensive property damage, and significant expenditure of taxpayer money. The record-breaking heat wave caused a maximum temperature of 49.6 degree Celsius in Lytton, British Columbia and baked the western United States and Canada. Around 1,400 people died during the heat wave. According to an analysis by the World Weather Attribution group, the phenomenon was impossible without human-caused climate change. WATCH | At least four terrorists killed in an encounter in J&K's Kupwara As per the lawsuit, the Heat Dome was a "direct and foreseeable consequence" of the decision of oil companies to sell too many products over the last six decades. An ExxonMobil spokesperson has responded to the lawsuit and said, "Suits like these continue to waste time, resources, and do nothing to address climate change." He added, "This action has no impact on our intention to invest billions of dollars to leading the way in a thoughtful energy transition that takes the world to net zero carbon emissions." As per the reports by Bangkok Post, Chevron lawyers called such lawsuits "counterproductive distractions from advancing international policy solutions". "The federal Constitution bars these novel, baseless claims that target one industry and group of companies engaged in lawful activity that provides tremendous benefits to society," the Chevron counsel stated. (With inputs from agencies) WATCH WION LIVE HERE

US: Multnomah County sues fuel companies for $51 billion over 'Heat Dome' disaster

The UK has opened up a new licensing round to allow oil and gas companies to explore for fossil fuels in the North Sea despite threats of a legal battle from climate campaigners.

WION Climate Tracker | UK Govt faces backlash on giving licenses to extract oil

US&nbsp;President Joe Biden has called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or else be ready to pay a higher tax rate. Speaking at the White House on Monday, Biden said that while such companies are making money, Americans are paying a bomb to fill up their car tanks.&nbsp;

The remarks came days after US oil goliaths ExxonMobil and Chevron announced record profits, proof of how the industry has benefited from a rise in crude prices following Russia's invasion of Ukraine.&nbsp;

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The oil industry “has not met its commitment to invest in America and support the American people,” Biden said. They’re not just making a “fair return”, but they’re making “profits so high it is hard to believe,” he added.

“Their profits are a windfall of war,” he said, referring to the conflict&nbsp;ravaging Ukraine. He further said that these companies have a responsibility to act.

“I think it’s outrageous,” he said. Biden said that if they passed those profits on to consumers, gas prices would register a fall of at least 50 cents.

He threatened that if they fail to do so, they should be ready to pay a higher tax and other penalties.

“If they don’t, they’re going to pay a higher tax on their excess profits, and face other restrictions,” he said.&nbsp;“It’s time for these companies to stop war profiteering.”

The White House will work with Congress to look at these options and others.

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Beyond global events, the oil sector has experienced higher refining margins, partly as a result of plant operational concerns.&nbsp;

Gasoline prices have increased as a result of the wide margins, a sensitive topic for American voters as the midterm elections approach.

(with inputs from agencies)

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US President Joe Biden has called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or else be ready to pay a higher tax rate.

US President Joe Biden has called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or else be ready to pay a higher tax rate. Speaking at the White House on Monday, Biden said that while such companies are making money, Americans are paying a bomb to fill up their car tanks. The remarks came days after US oil goliaths ExxonMobil and Chevron announced record profits, proof of how the industry has benefited from a rise in crude prices following Russia's invasion of Ukraine. Also Read: Movement of ships in Black Sea corridor is 'unacceptable', says Russia The oil industry “has not met its commitment to invest in America and support the American people,” Biden said. They’re not just making a “fair return”, but they’re making “profits so high it is hard to believe,” he added. “Their profits are a windfall of war,” he said, referring to the conflict ravaging Ukraine. He further said that these companies have a responsibility to act. “I think it’s outrageous,” he said. Biden said that if they passed those profits on to consumers, gas prices would register a fall of at least 50 cents. He threatened that if they fail to do so, they should be ready to pay a higher tax and other penalties. “If they don’t, they’re going to pay a higher tax on their excess profits, and face other restrictions,” he said. “It’s time for these companies to stop war profiteering.” The White House will work with Congress to look at these options and others. × Beyond global events, the oil sector has experienced higher refining margins, partly as a result of plant operational concerns. Gasoline prices have increased as a result of the wide margins, a sensitive topic for American voters as the midterm elections approach. (with inputs from agencies)

Stop war profiteering, or be ready to pay windfall tax, Biden tells oil companies

Total Energies in France said on Sunday (October 9), that it would advance pay talks with unions as refineries have reduced petrol supplies.

Oil companies including Total Energies have witnessed decreasing profit margins amid Russia's Ukraine conflict, which led to cuts in oil and gas supplies to Europe.&nbsp;

The CGT union, the group leading the strikes at Total Energies and Exxon Mobil earlier said that they would continue their strikes until their needs are not fulfilled.&nbsp;

<a href="https://www.wionews.com/business-economy/global-economy-live-updates-asian-stocks-fall-as-russia-ukraine-tensions-keep-markets-on-tenterhooks-523882">Also read |&nbsp;Global economy LIVE | Moscow stock exchange plunges 12%, MOEX index falls below 1,800 mark</a>

Its representative in conversation with AFP said, "If we do start talks, it will be based on our demands -- a 10-per cent salary hike... retroactive for the year 2022."

Workers in France have been on strike for the last two weeks, demanding higher wages after increasing prices in the country, which made vehicle owners queue up for hours. Some even travelled to Paris.&nbsp;

The company runs nearly 3,500 petrol stations who are currently either low or empty stations. Currently, three of Total's refineries are blocked.

<a href="https://www.wionews.com/world/oil-plunges-to-eight-month-low-on-strong-dollar-recession-fears-519236">Also read |&nbsp;Oil plunges to eight-month low on strong dollar, fear of recession-induced dip in demand</a>

Representatives of both sides will hold talks to reach a settlement.

The French government has increased 20 per cent supplies in the country to match the demand. Some areas in the country have reported 30 per cent hike in the demand.&nbsp;

The Energy Transition Minister Agnes Pannier -Runacher in conversation with BFM said that the situation will soon improve this week and assured that the government had freed up stock to continue supply.&nbsp;

(With inputs from agencies)

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Total Energies in France said on Sunday (October 9), that it would advance pay talks with unions as refineries have reduced petrol supplies. Oil companies including Total Energies have witnessed decreasing profit margins amid Russia's Ukraine conflict, which led to cuts in oil and gas supplies to Europe.

Total Energies in France said on Sunday (October 9), that it would advance pay talks with unions as refineries have reduced petrol supplies. Oil companies including Total Energies have witnessed decreasing profit margins amid Russia's Ukraine conflict, which led to cuts in oil and gas supplies to Europe. The CGT union, the group leading the strikes at Total Energies and Exxon Mobil earlier said that they would continue their strikes until their needs are not fulfilled. Also read | Global economy LIVE | Moscow stock exchange plunges 12%, MOEX index falls below 1,800 mark Its representative in conversation with AFP said, "If we do start talks, it will be based on our demands -- a 10-per cent salary hike... retroactive for the year 2022." Workers in France have been on strike for the last two weeks, demanding higher wages after increasing prices in the country, which made vehicle owners queue up for hours. Some even travelled to Paris. The company runs nearly 3,500 petrol stations who are currently either low or empty stations. Currently, three of Total's refineries are blocked. Also read | Oil plunges to eight-month low on strong dollar, fear of recession-induced dip in demand Representatives of both sides will hold talks to reach a settlement. The French government has increased 20 per cent supplies in the country to match the demand. Some areas in the country have reported 30 per cent hike in the demand. The Energy Transition Minister Agnes Pannier -Runacher in conversation with BFM said that the situation will soon improve this week and assured that the government had freed up stock to continue supply. (With inputs from agencies) WATCH WION LIVE HERE

France: Oil companies to hold talk with workers on strike amid gas supply shortage

Royal&nbsp;Dutch&nbsp;Shell&nbsp;swung back into profit in the first quarter as oil prices recovered strongly from a year earlier, the company said Thursday.

The Anglo-Dutch&nbsp;group posted net profit of $5.7 billion (4.7 billion euros) in the first three months of the year,&nbsp;Shell&nbsp;said in a statement.

That compared with a loss after tax of $24 million in the first quarter of 2020 when the coronavirus pandemic began to slam the price of crude.

The first-quarter performance this year benefitted also from a $1.4-billion gain following the sale of assets, the statement added.&nbsp;

"Shell&nbsp;has made a strong start to 2021, generating over $8 billion of cash in the quarter," said chief executive Ben van Beurden.

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"Our... model is ideally positioned to benefit from recovering demand."

Shell&nbsp;had dived into net loss of $21.7 billion last year as factories shut and planes were grounded.

As a result, it decided to axe more than 10 per cent of its global workforce, or up to 9,000 jobs.

Its losses and steep job cuts mirrored the situation elsewhere in the energy sector last year.&nbsp;

After lockdowns began to spread towards the end of the first quarter in 2020, oil prices dropped off a cliff, even briefly turning negative.

Prices then rebounded sharply, however, with benchmark Brent North Sea oil contract currently trading around $67 per barrel.

Shell&nbsp;rival BP also recovered in the first quarter, announcing this week net profit of $4.7 billion, which compared with a year-earlier loss of $4.4 billion.

France's Total, meanwhile, posted a net profit of $3.3 billion in the first quarter that was even higher than pre-pandemic levels.

On Thursday in the wake of its own results, shares in&nbsp;Shell&nbsp;climbed around 1.0 per cent in early London deals.

"Fortunately for investors these latest results come without the drama seen this time last year when&nbsp;Shell&nbsp;cut its dividend for the first time since the Second World War," said Keith Bowman, equity analyst at Interactive Investor.

Shell&nbsp;this time around increased its dividend payout by about 4.0 per cent compared with the final quarter of last year.

Bowman meanwhile noted that extreme winter weather hitting&nbsp;Shell's US Texas operations had dragged on adjusted earnings, "although, as with rivals, an upturn in energy prices has aided profit generation".&nbsp;

Shell&nbsp;said this year's deadly Texas winter storm cost the group $200 million in the first quarter on reduced oil output.

February's polar vortex storm killed dozens of people, left millions without electricity and water, caused billions of dollars of damage to the sector and forced several Texas electric firms to file for bankruptcy.

The freezing temperatures also caused outages at energy installations...natural gas-fired power plants, wind turbines and nuclear plants, which are not typically insulated as they are in other states with colder climates.

Royal Dutch Shell swung back into profit in the first quarter as oil prices recovered strongly from a year earlier, the company said Thursday. The Anglo-Dutch group posted net profit of $5.

Royal Dutch Shell swung back into profit in the first quarter as oil prices recovered strongly from a year earlier, the company said Thursday. The Anglo-Dutch group posted net profit of $5.7 billion (4.7 billion euros) in the first three months of the year, Shell said in a statement. That compared with a loss after tax of $24 million in the first quarter of 2020 when the coronavirus pandemic began to slam the price of crude. The first-quarter performance this year benefitted also from a $1.4-billion gain following the sale of assets, the statement added. "Shell has made a strong start to 2021, generating over $8 billion of cash in the quarter," said chief executive Ben van Beurden. "Our... model is ideally positioned to benefit from recovering demand." Shell had dived into net loss of $21.7 billion last year as factories shut and planes were grounded. As a result, it decided to axe more than 10 per cent of its global workforce, or up to 9,000 jobs. Its losses and steep job cuts mirrored the situation elsewhere in the energy sector last year. After lockdowns began to spread towards the end of the first quarter in 2020, oil prices dropped off a cliff, even briefly turning negative. Prices then rebounded sharply, however, with benchmark Brent North Sea oil contract currently trading around $67 per barrel. Shell rival BP also recovered in the first quarter, announcing this week net profit of $4.7 billion, which compared with a year-earlier loss of $4.4 billion. France's Total, meanwhile, posted a net profit of $3.3 billion in the first quarter that was even higher than pre-pandemic levels. On Thursday in the wake of its own results, shares in Shell climbed around 1.0 per cent in early London deals. "Fortunately for investors these latest results come without the drama seen this time last year when Shell cut its dividend for the first time since the Second World War," said Keith Bowman, equity analyst at Interactive Investor. Shell this time around increased its dividend payout by about 4.0 per cent compared with the final quarter of last year. Bowman meanwhile noted that extreme winter weather hitting Shell's US Texas operations had dragged on adjusted earnings, "although, as with rivals, an upturn in energy prices has aided profit generation". Shell said this year's deadly Texas winter storm cost the group $200 million in the first quarter on reduced oil output. February's polar vortex storm killed dozens of people, left millions without electricity and water, caused billions of dollars of damage to the sector and forced several Texas electric firms to file for bankruptcy. The freezing temperatures also caused outages at energy installations...natural gas-fired power plants, wind turbines and nuclear plants, which are not typically insulated as they are in other states with colder climates.

Shell swings back to profit on oil price recovery

Despite a jump in prices, oil exporters are losing cash. World's biggest oil economies are still bleeding, while major oil companies are reporting staggering losses. The worst may be yet to come. WION's Palki Sharma tells you why.

Gravitas: Despite a price jump, major oil exporters are losing cash

Royal Dutch Shell's profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company's retail network and trading business helped cushion the blow.

Shell's profit slumps in 2020 as the pandemic bites

Iraq has agreed with major oil companies operating its giant southern oilfields to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.

Baghdad aims to improve its compliance with its output cut targets under a global deal with OPEC and its allies to reduce oil supply.

Iraq has agreed with Russia’s Lukoil to start an additional cut of 50,000 barrels per day (bpd) as of June 13 to lower production from the West Qurna 2 field to around 275,000 bpd.

<a href="https://www.wionews.com/world/us-vows-to-reduce-troops-from-iraq-in-coming-months-305276">Also read:&nbsp;US vows to reduce troops from Iraq in coming months</a>

Lukoil cut output by 70,000 bpd in May in response to a request by Iraq’s oil ministry, two Iraqi oilfield managers told Reuters on Sunday.

Production from West Qurna 2 was around 395,000 bpd in April, the managers said.

The Iraqi oil managers, who oversee production operations, said state-run Basra Oil Company had asked BP to cut production from the Rumaila oilfield by around 140,000 bpd of its total production, which stands at between 1.4 million bpd to 1.45 million bpd.

<a href="https://www.wionews.com/world/trump-plans-to-sidestep-another-arms-pact-to-sell-more-us-drones-305386">Also read:&nbsp;Trump plans to sidestep another arms pact to sell more US drones</a>

Exxon Mobile Corp has agreed also to cut an additional 70,000 bpd from the West Qurna 1 field to reduce production to around 350,000 bpd in June, the two Iraqi managers said.

Production was cut by around 50,000 bpd in May and stood at around 420,000 bpd.

Lukoil, BP and Exxon were not immediately available for comment.

Iraq has told OPEC it would start an urgent plan to cut its oil production gradually to fully comply with its quota, after the group demanded that Baghdad and other laggards adhere to a pact on output curbs.

"We will keep lowering production gradually to comply with OPEC quota," said one Iraqi oil official.

OPEC, Russia and allies agreed on June 6 to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices to double in the past two months by withdrawing almost 10% of global supplies from the market.

The group, known as OPEC+, also asked countries such as Nigeria and Iraq, which exceeded production quotas in May and June, to compensate with extra cuts in July to September.

Iraq has agreed with major oil companies operating its giant southern oilfields to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.

Iraq has agreed with major oil companies operating its giant southern oilfields to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday. Baghdad aims to improve its compliance with its output cut targets under a global deal with OPEC and its allies to reduce oil supply. Iraq has agreed with Russia’s Lukoil to start an additional cut of 50,000 barrels per day (bpd) as of June 13 to lower production from the West Qurna 2 field to around 275,000 bpd. Also read: US vows to reduce troops from Iraq in coming months Lukoil cut output by 70,000 bpd in May in response to a request by Iraq’s oil ministry, two Iraqi oilfield managers told Reuters on Sunday. Production from West Qurna 2 was around 395,000 bpd in April, the managers said. The Iraqi oil managers, who oversee production operations, said state-run Basra Oil Company had asked BP to cut production from the Rumaila oilfield by around 140,000 bpd of its total production, which stands at between 1.4 million bpd to 1.45 million bpd. Also read: Trump plans to sidestep another arms pact to sell more US drones Exxon Mobile Corp has agreed also to cut an additional 70,000 bpd from the West Qurna 1 field to reduce production to around 350,000 bpd in June, the two Iraqi managers said. Production was cut by around 50,000 bpd in May and stood at around 420,000 bpd. Lukoil, BP and Exxon were not immediately available for comment. Iraq has told OPEC it would start an urgent plan to cut its oil production gradually to fully comply with its quota, after the group demanded that Baghdad and other laggards adhere to a pact on output curbs. "We will keep lowering production gradually to comply with OPEC quota," said one Iraqi oil official. OPEC, Russia and allies agreed on June 6 to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices to double in the past two months by withdrawing almost 10% of global supplies from the market. The group, known as OPEC+, also asked countries such as Nigeria and Iraq, which exceeded production quotas in May and June, to compensate with extra cuts in July to September.

Iraq agrees with oil companies on deeper output cuts in June - sources

The <a href="https://www.google.com/url?q=http://www.wionews.com/india-news/delhis-air-quality-shows-slight-improvement-with-increased-wind-speed-188257&amp;sa=U&amp;ved=0ahUKEwjkn5TO8vbfAhUMvY8KHbhRA6IQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0HBuHcjn0QzgcA7ptciQMX">Central Pollution Control Board</a> has asked Reliance industries why a fine of Rs 1 crore should not be slapped on it and prosecution not initiated over non-compliance of National Green Tribunal order on installation of anti-pollution "vapour recovery" systems (VRS) at fuel stations.

The CPCB had earlier slapped a fine of Rs 1 crore each on three public sector oil companies for their failure to install VRS systems at fuel stations.

The CPCB said that the National Green Tribunal had on September 28 directed oil companies to ensure installation of VRS in petrol pumps selling more than 300 kilolitres per month (KL/M) but the Reliance industries informed that there is no such retail outlet. It also said that there are two retail outlets selling less than 300 KL/M and VRS will be installed by December 31, 2018.

In a letter dated January 8, the CPCB said Reliance industries informed it that installation of VRS stage II at retail outlets selling less than 300 KL/month has been completed but no compliance status was submitted with respect to installation of VRS IB at these stations.

Vapour recovery system IB is used to control the vapour released during the offloading of fuel at distribution centres. Vapour recovery system Stage 2 is used to control the vapour while the fuel is transferred from holding tanks to vehicles.

"The above status indicates non-compliance of NGT order and therefore, in view of above, a notice is hereby served to show cause as to why environment compensation of Rs one crore shall not be levied and prosecution not initiated against Reliance industries for non-compliance of NGT order," CPCB chairperson S P S Parihar said in the notice.

Vapour recovery device is an instrument to capture displaced vapours that emerge from inside a vehicle's fuel tank while filling petrol or diesel in it. 
&nbsp; 
In December, the CPCB had imposed fine on public sector oil firms Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited.&nbsp;

 
&nbsp; 
&nbsp;

The Central Pollution Control Board has asked Reliance industries why a fine of Rs 1 crore should not be slapped on it and prosecution not initiated over non-compliance of National Green Tribunal order on installation of anti-pollution "vapour recovery" systems (VRS) at fuel stations.

The Central Pollution Control Board has asked Reliance industries why a fine of Rs 1 crore should not be slapped on it and prosecution not initiated over non-compliance of National Green Tribunal order on installation of anti-pollution "vapour recovery" systems (VRS) at fuel stations. The CPCB had earlier slapped a fine of Rs 1 crore each on three public sector oil companies for their failure to install VRS systems at fuel stations. The CPCB said that the National Green Tribunal had on September 28 directed oil companies to ensure installation of VRS in petrol pumps selling more than 300 kilolitres per month (KL/M) but the Reliance industries informed that there is no such retail outlet. It also said that there are two retail outlets selling less than 300 KL/M and VRS will be installed by December 31, 2018. In a letter dated January 8, the CPCB said Reliance industries informed it that installation of VRS stage II at retail outlets selling less than 300 KL/month has been completed but no compliance status was submitted with respect to installation of VRS IB at these stations. Vapour recovery system IB is used to control the vapour released during the offloading of fuel at distribution centres. Vapour recovery system Stage 2 is used to control the vapour while the fuel is transferred from holding tanks to vehicles. "The above status indicates non-compliance of NGT order and therefore, in view of above, a notice is hereby served to show cause as to why environment compensation of Rs one crore shall not be levied and prosecution not initiated against Reliance industries for non-compliance of NGT order," CPCB chairperson S P S Parihar said in the notice. Vapour recovery device is an instrument to capture displaced vapours that emerge from inside a vehicle's fuel tank while filling petrol or diesel in it. In December, the CPCB had imposed fine on public sector oil firms Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited.

Why Rs 1 crore fine not be slapped over non-compliance of NGT order: CPCB to Reliance industries

Saudi Arabia willing to meet India's oil need

PM Modi set to meet oil company chiefs

Domestic oil marketing companies have decided to stop fuel supply to India's national carrier Air India in several cities due to pending dues.

<a href="http://www.wionews.com/india-news/talks-air-india-bailout-package-advanced-stage-report-167768">Also Read: Talks on Air India bailout package at 'advanced stage'</a>

The oil companies have&nbsp;suspended supplies to Air India in eight locations including Mohali, Patna, Pune, Trivandrum, Lucknow, Vishakhapatnam, Coimbatore and Jaipur from 4 pm on Monday.

Refuelling of all domestic Air India flights from eight locations has been stopped.

The Indian oil companies have been discussing issues related to the clearing of dues worth Rs 5,000 crores with &nbsp;Air India which has been pending. Air India has so far been paying Rs 20 crore daily but has been defaulting on payments lately. The marketing companies want past dues to be cleared first, reports said.

Sources said Air India on its part has knocked on government's door for capitalisation of Rs 2,000 crore but there have been no bailout moves till now.

Domestic oil marketing companies have decided to stop fuel supply to India's national carrier Air India in several cities due to pending dues. Also Read: Talks on Air India bailout package at 'advanced stage' The oil companies have suspended supplies to Air India in eight locations including Mohali, Patna, Pune, Trivandrum, Lucknow, Vishakhapatnam, Coimbatore and Jaipur from 4 pm on Monday.

Domestic oil marketing companies have decided to stop fuel supply to India's national carrier Air India in several cities due to pending dues. Also Read: Talks on Air India bailout package at 'advanced stage' The oil companies have suspended supplies to Air India in eight locations including Mohali, Patna, Pune, Trivandrum, Lucknow, Vishakhapatnam, Coimbatore and Jaipur from 4 pm on Monday. Refuelling of all domestic Air India flights from eight locations has been stopped. The Indian oil companies have been discussing issues related to the clearing of dues worth Rs 5,000 crores with Air India which has been pending. Air India has so far been paying Rs 20 crore daily but has been defaulting on payments lately. The marketing companies want past dues to be cleared first, reports said. Sources said Air India on its part has knocked on government's door for capitalisation of Rs 2,000 crore but there have been no bailout moves till now.

Oil companies stop refueling of Air India flights as pending dues bite

The Congress-led UDF in Kerala on Sunday attacked the Centre and said that frequent hike in prices of petroleum products was because the BJP-led government at the Centre was allegedly colluding with oil companies to 'help' them make 'unfair' profits.

The price of petrol and diesel had reached a record high in the country, PTI quoted Congress leader Ramesh Chennithala as saying.&nbsp

The price of petrol in the state capital was Rs 80 per litre and diesel Rs 73 per litre, he added.

The Leader of the Opposition in the assembly criticised the CPI(M)-led LDF government in the state, saying it was not doing anything to alleviate the sufferings of the people due to the frequent hike in the prices of fuel.

When the UDF was in power, it kept a check on the price of petroleum products by doing away with the additional tax, he added.&nbsp

The Leader of the Opposition in the assembly criticised the CPI(M)-led LDF government in the state, saying it was not doing anything to alleviate the sufferings of the people due to the frequent hike in the prices of fuel.

The Congress-led UDF in Kerala on Sunday attacked the Centre and said that frequent hike in prices of petroleum products was because the BJP-led government at the Centre was allegedly colluding with oil companies to 'help' them make 'unfair' profits. The price of petrol and diesel had reached a record high in the country, PTI quoted Congress leader Ramesh Chennithala as saying. The price of petrol in the state capital was Rs 80 per litre and diesel Rs 73 per litre, he added. The Leader of the Opposition in the assembly criticised the CPI(M)-led LDF government in the state, saying it was not doing anything to alleviate the sufferings of the people due to the frequent hike in the prices of fuel. When the UDF was in power, it kept a check on the price of petroleum products by doing away with the additional tax, he added.

Centre colluding with oil companies to 'help' them make 'unfair' profits: UDF

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