August 7, 2020 - Page 2 of 3

Indian gas sector looks up; healthy growth expected amid infra investment

NATIONAL NEWSBy admin August 7, 2020 Leave a comment

The post lockdown times have seen the Indian gas sector looking up with a sharp increase in the domestic gas supply from no growth between FY17 and FY20 to over 12 per cent compound annual growth rate (CAGR) over FY21 to FY24, even amid the uneven impact of COVID-19 on gas consumers. The growth was…

Brent oil tops $45 on sliding US stockpiles, technical breaks

CRUDE OIL NEWSBy admin August 7, 2020 Leave a comment

The international benchmark moved above its low from March 6 in European trading hours, closing a so-called price gap that was formed on that day, a move that traditionally leads to additional buying.Oil climbed to a five-month high in London, topping $45 a barrel after U.S. industry data showed a decline in the nation’s stockpiles.…

Oil prices hit 5-month high as U.S. crude stockpiles, dollar fall

CRUDE OIL NEWSBy admin August 7, 2020 Leave a comment

NEW YORK – Oil prices rose to their highest since early March on Wednesday after U.S. crude inventories fell sharply and the dollar weakened, but mounting coronavirus infections had investors worried about the demand outlook. Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April…

LNG Recap – Henry Hub Leads Global Gas Benchmarks Higher

INTERNATIONAL NEWSBy admin August 7, 2020 Leave a comment

U.S. natural gas prices have surged this week, breaking out of a narrow trading range with the largest single-day increase in more than 18 months and pushing up other benchmarks across the world. A day after Henry Hub jumped 30 cents to finish at $2.10, the September contract gained another 9.2 cents to finish at…

China And The EU Vie For Hydrogen Supremacy

INTERNATIONAL NEWSBy admin August 7, 2020 Leave a comment

Not so long ago the energy transition was primarily an idealistic concept driven by environmentalists and researchers. The most important impediment was the high costs of clean technologies. The drastically reduced price of PVs, for example, has ensured global attention for the solar industry. A similar situation could enfold concerning emissions-free hydrogen production as China…

Oman Counters Chinese Influence With Two New Energy Megaprojects

INTERNATIONAL NEWSBy admin August 7, 2020 Leave a comment

Like many Middle Eastern countries in the catastrophic aftermath of Saudi Arabia’s latest oil price war folly against the U.S. shale sector, Oman has been left in the position of having to decide whether to risk becoming a client state of China or to attempt to extricate itself from the financial hole that the Saudis…

Somalia expects to announce winners of first petroleum auction early 2021

INTERNATIONAL NEWSBy admin August 7, 2020 Leave a comment

CAPE TOWN, Somalia expects to announce the winners of its first oil and gas licensing round early next year, as the country seeks petro dollars to help rebuild its struggling economy, a senior government oil official said on Wednesday. Battered by violence and an Islamist insurgency since clan warlords overthrew a dictator in 1991, Somalia…

Effort to douse fire in Baghjan well in final stages

EXPLORATION NEWSBy admin August 7, 2020 Leave a comment

PSU major Oil India on Wednesday said its effort to douse the blaze at the damaged gas well at Baghjan in Assam, which is spewing gas for 71 days, is in its final stages. As part of its final preparation to cap the well the repair of the 90-ft ‘athey wagon’, the equipment for fighting…

Indian Energy Exchange plans minority stake sale in gas venture: CEO

NATIONAL NEWSBy admin August 7, 2020 Leave a comment

Indian Energy Exchange Ltd. is in talks with strategic investors to sell a minority stake in its fledgling gas unit. The largest electricity trading platform in India may sell as much as 49 per cent in the venture in a series of deals, Rajiv Srivastava, chief executive officer of IEX said in an interview. The…

NGT directs oil companies to file status report on Vapour Recovery Systems in fuel outlets

NATIONAL NEWSBy admin August 7, 2020 Leave a comment

The southern bench of the National Green Tribunal has directed oil companies to file a status report on the implementation of Vapour Recovery System (VRS) in fuel retail outlets in Tamil Nadu. It also ordered notice to the Tamil Nadu government and the Central Pollution Control Board. The bench directed the oil companies to file…

Daily Archives: August 7, 2020