London — The head of the Gas Exporting Countries Forum, Yuriy Sentyurin, said June 22 that he considered OPEC a “model” for the gas exporter group’s activities, hailing the first technical dialog with OPEC as a “new chapter in our collaboration.” The GECF — whose members include gas heavyweights Russia, Qatar and Iran — came…
Saudi Arabia and other OPEC members have long-standing reputations as reliable suppliers to Asia, but the price war followed quickly by massive output cuts have unsettled buyers in the region.As the OPEC alliance sticks to its guns in trying to curb oil output to shore up prices, Asian buyers are increasingly looking to the US…
Nigeria, one of Africa’s biggest crude exporter has forced down production quota by 13.67 million barrels for Shell, Chevron, and other oil producers in one month, according to a news report by New Telegraph. Six major firms including Shell, ExxonMobil, Chevron, Total, Agip, and Addax participate actively in the production of about 90 percent of…
State-owned ONGC has temporarily suspended operations at two drilling rigs in the Arabian Sea after 54 employees tested positive for coronavirus and one died but the oil and gas production has not been impacted. Operations at two rigs operating in the firm’s prime Mumbai High and Bassein fields off the west coast were temporarily suspended…
India’s state-run oil firms are scrambling to comply with a recent government order to go local while hiring ships to haul crude and petroleum products of value less than ₹200 crore as part of the revised Make in India policy on procuring services. The government move would be a big bonanza for local fleet owners…
In the midst of the vulnerabilities realized by the pandemic, Pune had been in the news for the quantity of cutbacks that occurred in the IT organizations it is home to. Notwithstanding, bringing some expectation, worldwide oil and gas organization, British Petroleum (BP), has affirmed that it will set up its new focus in Pune,…
India is raising fuel supplies to the northern region of Ladakh as the military reinforces its presence in the area following deadly clashes with China last week. State-controlled refiners led by IOC have increased supplies of diesel, gasoline, jet fuel, kerosine and LPG by 15-20pc over usual volumes since the incident on 15 June. The…
Mumbai, The country cannot become fully digital if it continues to offer all transactions free of cost, said G Padmanabhan, former executive director of the Reserve Bank of India. Speaking at a webinar organised by Electronic Payment and Services (EPS), a retail banking technology service provider, he said that for digital transactions to really zoom…
Oil prices nudged higher on Monday on tighter supplies from major producers, but concerns that a record rise in global coronavirus cases could curb a recovery in fuel demand checked gains.Brent crude rose 9 cents, or 0.2%, to $42.28 a barrel by 0009 GMT, while U.S. crude was at $39.76 a barrel, up 1 cent.…
Crude oil prices finished with a weekly gain of about 10% on Friday, as the sudden drop in U.S. production output of crude oil, along with OPEC output cuts, offers hope that the oil glut in the market will reduce significantly. International benchmark, Brent crude closed at $42.20 for a 9.5% weekly gain, after it…
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