September 14, 2020 - Page 2 of 4

Gas producers seek pricing formula review

NATIONAL NEWSBy admin September 14, 2020 Leave a comment

14 Sept. 20-Domestic gas prices are set to fall significantly from October because of a slump in global prices, raising a question mark on the pricing formula as it challenges the operational viability of oil firms and hurts investment sentiment in the exploration and production sector. Gas producers have sought a review of the pricing…

Oil ends lower for second week as stockpiles rise, demand weakens

CRUDE OIL NEWSBy admin September 14, 2020 Leave a comment

NEW YORK – Oil prices were little changed on Friday, but posted their second straight weekly loss as stockpiles rise around the world and fuel demand struggles to rebound to pre-coronavirus levels. Both Brent and U.S. crude lost about 6% on the week after a series of signals that showed markets still have an abundance…

Oil prices decline on high inventories, weak US stock markets

CRUDE OIL NEWSBy admin September 14, 2020 Leave a comment

Oil prices fell further on Friday and were on track for a second weekly drop after the US stock markets tumbled and US stockpiles rose unexpectedly.Brent fell 28 cents, or 0.7 per cent, at $30.78 a barrel by 12:10 GMT, and US crude was down 17 cents, or 0.5 per cent, to $37.13 a barrel.…

US okays $1.5bln insurance for Mozambique gas project

INTERNATIONAL NEWSBy admin September 14, 2020 Leave a comment

Maputo: The US has set aside $1.5 billion for political risk insurance in the gas-rich northern Mozambique region ravaged by an Islamist insurgency for the past three years, its Maputo embassy said Thursday. The International Development Finance Corporation (DFC) has “agreed to provide up to $1.5 billion in political risk insurance to support the commercialization…

Fracking, not Covid, may decide American election

INTERNATIONAL NEWSBy admin September 14, 2020 Leave a comment

People think it’s Covid, law and disorder, etc. that will decide Donald Trump’s fate. None of that. His base is still intact at just over 40 per cent of the electorate. There is one issue that will decide the outcome of the US presidential election. It’s an issue in the two swing states of Pennsylvania…

OPEC’s Third-Largest Producer Fails To Comply With Output Cuts

INTERNATIONAL NEWSBy admin September 14, 2020 Leave a comment

The United Arab Emirates (UAE), currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the OPEC+ deal, undermining the oil market’s faith in the group’s unity in the cuts. According to tanker tracking data Bloomberg has compiled from several oil…

Turkey in energy exploration talks with Libya: official

EXPLORATION NEWSBy admin September 14, 2020 Leave a comment

Istanbul: Turkey is discussing oil and natural gas exploration projects with the UN-recognised government in Libya, a top official said, as it squares off with Greece over Mediterranean drilling rights. The talks with the Tripoli government come against the backdrop of rising tension over hydrocarbon resources and naval influence in the eastern Mediterranean that has…

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

EXPLORATION NEWS, INTERNATIONAL NEWSBy admin September 14, 2020 Leave a comment

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, said director…

Govt targets 10,000 CNG outlets in five years

NATIONAL NEWSBy admin September 14, 2020 Leave a comment

Union minister of petroleum and natural gas Dharmendra Pradhan said on Thursday that the government aims to have 10,000 retail outlets of compressed natural gas (CNG) in the next five years as the country plans to increase the share of gas in its energy basket. Pradhan was speaking at an online event where he inaugurated…

Align type-approval norms for retro-fitment of LPG/CNG kits with European laws: Industry

NATIONAL NEWSBy admin September 14, 2020 Leave a comment

New Delhi: The Auto LPG industry has sought alignment of India’s type-approval norms for retro-fitment of LPG/CNG kits in automobiles with European standards, saying the prevalent norms were a major impediment to clean air goal. India Auto LPG Coalition, the apex body of autogas sellers in India, has written to Dinesh Tyagi, Director International Centre…

Daily Archives: September 14, 2020