A special chartered fight that took off from Singapore on Thursday afternoon had an unusual destination in India — Dibrugarh Airport in Assam. The flight had a team of experts from Alert Disaster Control, one of the largest disaster management companies in the oil and gas sector. Amid Covid-19 restrictions it needed special permission from…
India saved Rs 5,000 crore in foreign exchange while strengthening its energy security by filling the strategic reserves to full capacity with cheap crude oil. strategic reserve, strategic oil reserve, crude oil, cheap crude oil. Out of the proposed strategic reserve of 6.5 MMT, India has commissioned 6.33 MMT of strategic oil reserves so far…
The Board of directors of Chennai Petroleum Corporation Limited (CPCL) has proposed the implementation of the 9 MMTPA Refinery Project at Cauvery Basin Refinery, Nagapattinam district, to the Board of Indian Oil Corporation Limited (IOCL). CPCL plans to do this through a joint venture, at an anticipated cost of Rs 28,983 crore. This project encompasses…
India has been in touch with the United States (US), the Russian Federation, Saudi Arabia and the UAE as part of efforts in monitoring market oil market developments and responses said Minister for Petroleum and Natural Gas, Dharmendra Pradhan. Pradhan said this during a bilateral meeting Mohammad Sanusi Barkindo, OPEC Secretary General via videoconference to…
New Delhi: Union Petroleum Minister Dharmendra Pradhan on Thursday called for responsible steps to achieve global energy stability.Pradhan who held a discussion with Dr Mohammed Barkindo, Secretary General, Organization of the Petroleum Exporting Countries (OPEC) through Video Conference, highlighted the need for producing and consuming countries to take appropriate steps in the coming days to…
LONDON – Oil prices rose on Friday after an unexpected fall in the monthly U.S. jobless rate and OPEC’s decision to bring forward to Saturday discussions on whether to extend record production cuts. Brent crude futures were up $2.40, or 6.0%, at $42.39 a barrel as of 1243 GMT. U.S. West Texas Intermediate (WTI) crude…
Oil prices rose on Friday after an unexpected fall in the May U.S. jobless rate and OPEC’s decision to bring forward to Saturday discussions on whether to extend record production cuts. Brent crude futures were up $2.07, or 5.2%, at $42.07 a barrel, while West Texas Intermediate crude futures gained $2.14, or 5.7%, to settle…
A ship carrying liquefied natural gas from Nigeria is in the middle of the Atlantic Ocean and heading northwest and may drop its cargo in the United States. The ship, Madrid Spirit, does not have a destination listed on vessel tracking data from Refinitiv. Its travel has slowed in the past week or so, suggesting…
Electric cars were once something for hippies and techies. Now, they have become a part of the mainstream auto industry. In fact, many traditional carmakers have even unveiled plans for all-electric vehicles in the coming years. With support from governments around the globe, electric cars are gaining traction with consumers. A new ruling in Germany…
LONDON – Angola has cut the number of oil cargoes that it will ship to Chinese state firms to pay down debt to Beijing as it seeks to renegotiate repayment terms to deal with the crippling impact of the coronavirus, three sources familiar with the matter said. Angola said this week it had asked for…
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