LONDON, Hedge fund managers show little directional conviction on petroleum prices after crude futures doubled between late April and early June, suggesting most now see upside and downside risks as finely balanced. For the second week running, fund managers made no significant changes in their positioning in any of the six most import futures and…
New Delhi: Crude oil futures on Monday dropped 3.58 per cent to Rs 2,640 per barrel as participants trimmed their positions on weak global cues. On the Multi Commodity Exchange, crude oil for June delivery fell by Rs 98, or 3.58 per cent, to Rs 2,640 per barrel with a business volume of 4,493 lots.…
Refiners in the Asia-Pacific region (APR) are showing increased interest in Russian oil Urals in the face of declining offers moderate alternative raw materials from the Middle East due to the OPEC agreement, according to the Agency Argus.Given the limited oil requirements of European companies that are major buyers in the Urals, the APR becomes…
Mexican President Andres Manuel Lopez Obrador said on Monday he would sell gasoline to Venezuela for “humanitarian” reasons if asked to, despite U.S. sanctions on the South American country and its state-run oil firm, PDVSA. Lopez Obrador said he had not received such a request from the Venezuelan government. President Donald Trump’s administration wants to…
SINGAPORE: World’s largest oil exporter Saudi Aramco has reduced the volume of July-loading crude that it will supply to at least five buyers in Asia, seven sources said on Monday.The cuts were mainly for medium and heavy grades and were seen at refineries in countries such as China, the sources with knowledge of the matter…
Residents of Baghjan in Tinsukia district of Assam on Monday staged a dharna for six hours demanding immediate compensation to those affected by the blowout and subsequent fire at a Oil India Limited gas well, a day after chief minister Sarbananda Sonowal promised a development package and “maximum compensation” and action against those found guilty…
The onslaught of coronavirus is delaying drilling of an exploratory well by India’s ONGC Videsh Ltd, or OVL, at Kanchan under shallow sea block SS-04.The Indian firm has already informed state-run Petrobangla about the novel coronavirus issue and cited it as the cause for delay in initiating the drilling programme. Earlier, a dispute over advance…
NEW DELHI: The Andaman and Nicobar (A&N) islands are set go green as state-run NTPC Ltd is poised to call bids to set up a floating micro-liquefied natural gas (LNG) terminal to power the Indian archipelago, said two people aware of the development. Not only will it reduce the carbon footprint by ending the practice…
Liquefied natural gas (LNG) terminal owners, state-run GAIL (India) Ltd and Petronet LNG Ltd (PLL), have joined India’s first natural gas exchange that went online on Monday, said Rajesh Kumar Mediratta, director, Indian Gas Exchange. With others such as Manikaran Power, Torrent Power and Adani Gas on board, the exchange will help revive stranded gas…
MUMBAI: Alternate channels of cash withdrawals like Aadhaar-enabled Payment System (AePS) and point of sale (PoS) terminals grew faster during the lockdown than traditional ATMs, latest RBI data showed. Data from Reserve Bank of India (RBI) showed that cash withdrawals automated teller machines (ATMs) declined by 47% to 286 million in April. At the same…
English
Arabic
Chinese (Simplified)
Gujarati
Hindi
Marathi
Persian