September 14, 2020 - Petroleumbazaar

Crude Oil Market Might Soon Be In An Oil Glut Era.

CRUDE OIL NEWSBy admin September 14, 2020 Leave a comment

14 Sept 20-Saudi Arabia a major oil producer had recently reduced its official selling price on its Asian crude grades to China on the macro that the world’s second-largest economy has no place to store additional oil supplies, triggering the crude oil bears to breach below the $40 support price level in the case of…

Oil posts second straight weekly plunge as stockpiles soar, demand dwindles

CRUDE OIL NEWSBy admin September 14, 2020 Leave a comment

14 Sept 20-US and UK futures’ prices were little changed on Friday, but both of the oil futures had been whacked away as much as 6 per cent this week and had reported their second straight weekly percentage decline in a row as crude oil stockpiles are rising all over the globe and gasoline demands…

Saudi Aramco Is Now Suffering The Consequences Of A Failed Oil Price War

INTERNATIONAL NEWSBy admin September 14, 2020 Leave a comment

14th Sept 20-It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons. For Crown Prince Mohammed bin Salman (MbS), one of the masterminds behind the oil war…

Trump now backs higher-ethanol gas at pumps

INTERNATIONAL NEWSBy admin September 14, 2020 Leave a comment

14 Sept 20-President Donald Trump on Saturday offered a boost to the ethanol industry as he courts farmers and biofuel producers in Midwestern swing states before the November election.Trump has approved using existing filling station pumps to distribute higher-ethanol gasoline. “Subject only to State approval, our important Ethanol Industry will be allowed to use the…

US says Libyan commander Khalifa Hifter agrees to lift oil blockade

NATIONAL NEWSBy admin September 14, 2020 Leave a comment

14 Sept 20-CAIRO: The US Embassy in Libya said Libyan commander Khalifa Hifter agreed to reopen key oil fields and terminals no later than Saturday, a move that could advance talks between the country’s warring sides closer to a political settlement to the yearslong conflict. Powerful tribes in eastern Libya loyal to Hifter have kept…

Oil exploration in forests to become cheaper, easier

EXPLORATION NEWSBy admin September 14, 2020 Leave a comment

14 Sept 20-Oil exploration in forests is set to become cheaper and easier as the Centre has simplified norms to allow mining companies to pay a fee for the land affected by each borehole and not for the total forest area leased out for exploration, according to minutes of the Union environment ministry’s Forest Advisory…

Cairn’s Rajasthan oil block licence stuck in cost dispute; hangs by monthly extensions

EXPLORATION NEWSBy admin September 14, 2020 Leave a comment

14 Sept 20-New Delhi: Billionaire Anil Agarwal-led Cairn India’s Rajasthan oil block licence extension is stuck in a dispute over cost and the firm is literally surviving on monthly extensions by the government, sources said. The government had in October 2018 agreed to extend by 10 years the contract for Barmer fields in Rajasthan after…

Energy E&P majors increasing use of digital technology in COVID time

NATIONAL NEWSBy admin September 14, 2020 Leave a comment

14 Sept 20-Kolkata: Major exploration and production (E&P) companies in the oil and gas sector of the country are increasing their exposure in digital technology to sustain operations in COVID-19 time, experts said on Friday. Adoption of the digital route has now become important for the sustainability of operations, maintenance and also in keeping liquidity,…

PM Modi inaugurates 3 key petroleum projects in Bihar,

NATIONAL NEWSBy admin September 14, 2020 Leave a comment

14 Sept. 20-Prime Minister Narendra Modi said Bihar’s administration has been exemplary in making sure that government schemes reach the common people.He said, “In the last 15 years Bihar has shown that if the right government is elected in a state, benefits of government’s schemes can reach its people.” PM Narendra Modi inaugurated the three…

Centre To Make Oil Exploration In Forests Cheaper And Easier For Mining Companies

NATIONAL NEWSBy admin September 14, 2020 Leave a comment

14 Sept 20-The Union Environment Ministry has simplified the oil exploration rules to allow mining companies to pay fees for the land affected by each borehole and not for the total leased out forest area, thus making oil mining in forest cheaper and easier. The norms were revised at the ministry’s Forest Advisory Committee (FAC)…

Daily Archives: September 14, 2020